The recreational usage of cannabis will be positively impacted by the subsequent price parity of cannabis bud as well as its commoditization in the legal and illegal market. Moreover, increasing mainstreaming and availability of raw materials will ensure price parity. It would also aid in smoothening the transformation of cannabis flower from the illegal market to legal business.
The taxes would be vital in channelizing the advancements in the legal market. A rise in the demand for cannabis from Canada, U.S., and the European countries is expected to help all the South American cannabis producers to upscale their production. It would reduce the pricing pressure on cannabis bud due to increasing imports both in wholesale and retail channels.
Key Market Players Focus on Expansion and Strategic Collaborations to Gain Competitive Edge
The cannabis market is robustly dynamic and highly competitive. Increasing number of expansion programs and strategic collaborations are positively affecting the market sales. A rise in the popularity of recreational cannabis is creating a rapid shift towards processed products, namely, topical, edible, and oils from simply buds. Given below are few of the key developments:
Altria Group, Inc. declared that it has invested approximately USD 1.8 billion in Cronos Group, Inc. in March 2019. The main aim of the investment is to lead, scale, and compete in the rapidly growing cannabis industry.
Hexo Corp., a prominent producer of cannabis, headquartered in Quebec, Canada, announced that it has partnered up with Molson Coors Canada in August 2018 to manufacture and supply cannabis-based beverages.
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