About 4.9 million Canadians used cannabis and consumed more than 20 grams of marijuana per person in 2017, spending a total $5.6 billion on the product estimates from Statistics Canada.
$14/g Legal Pricing
The Deloitte survey also found cannabis users would be willing to pay $14.00 per gram through legal channels. The current average price per gram in the illegal market is $8.24 per gram.
$6.5B Sold by 2020
Legal cannabis sales could reach $6.5 billion by 2020, according to an estimate from CIBC analysts John Zamparo, Prakash Gowd, and Mark Petrie. In a report published last month, the analysts predicted cannabis sales could top sales of spirits, with the potential to yield $1 billion in EBITDA (earnings before interest, taxes, depreciation, and amortization).