From a business perspective, I think it’s dependent on whether the companies in question are multi-national in scope or not. Many organizations with operations in jurisdictions with less permissive cannabis regulations remain very bullish on entering the cannabis space, and with good reason.
From a licensing perspective, while the practice of cultivating hemp is governed under the Industrial Hemp Regulations, operators will still be required to apply for multiple license classes under the Cannabis Act if they wish to manufacture products containing cannabis and bring their infused products to market.
That’s all to say that while we will probably see many attempts by companies to pursue that path, it’s unfortunately a lot more complicated than originally thought.
Beverages have an association with nourishment, quenching thirst, and of course a social aspect. This just seems like such a natural consumer preference to me. Deloitte’s 2018 report suggested that based on research about 50% of Canadians will try cannabis in an “edible form” and of that group about 31% will try it in a beverage form. Perhaps it my own bias but I cannot help but think that value is one of those statistical errors that can arise in surveys because I would have thought the percentage would be significantly greater. Does your own research support that 31% number (31% of the 50% that will try an “edible”) or do you think it will be greater in time?
We do currently have plans to commission our own consumer insight reports later in 2019, but at this time we do not have our own statistical evidence to trumpet consumer interest. That being said, I do believe the number you mentioned will grow with time once products are available to consumers and they are able to engage with and sample different offerings.
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