Legal Marijuana Projected to Outsell Alcohol in Canada by 2020

As Canada prepares to legalize recreational marijuana in the coming months, many are projecting major growth for the industry. But one projection shows cannabis could become even bigger than liquor.

A new report from the Canadian Imperial Bank of Commerce, one of Canada's largest banks, estimates that legal marijuana will be worth $6.5 billion in the country by 2020. In comparison, Canadians spent only $5.1 billion on liquor last year. And considering alcohol sales usually drop in areas with legal marijuana, it's likely the difference between cannabis sales and liquor sales will only widen in the coming years.

The report also predicts that by 2020, 95 percent of customers in the Canadian cannabis industry will be in the recreational market, while only five percent will remain in the medical-only market. They also believe Canadians will consume 800,000 kilograms of cannabis in 2020.

Canada legalizing recreational marijuana is a huge event for the cannabis movement at large, and many will keep their eyes to the North to see how things turn out. A successful launch could lead to more states in America and more countries at large re-think their approach to cannabis.

(h/t Business Insider)

Latest.

On Flatbush Avenue, tucked amidst the nexus of four iconic Brooklyn neighborhoods (Park Slope, Boerum Hill, Fort Greene, and Prospect Heights), medical cannabis company Citiva opened up their newest location at the turn of the new year. Walking through the shiny glass door, you’re first struck by the sleek tidiness of the front lobby. Both the dispensary's resident pharmacist and receptionist greet visitors as they clear patients (as does any medical dispensary in the country) before allowing them through to the retail room.

Can we see some ID please?

You must be 19 years of age or older to enter.