Constellation Brands, in its quarterly earning call on January 9, gave some insights into the Canadian cannabis market. The company stated that it’s seeing strong demand in the adult-use cannabis market in Canada.
Significant global growth
Constellation Brands was optimistic about the cannabis industry. The company said that “we believe the emerging cannabis space represents one of the most significant global growth opportunities of the next decade, and frankly, our life time.” Constellation Brands added that the opportunity in the cannabis industry is opening up faster than it expected.
The cannabis industry still isn’t open in most of the countries around the world. Only Canada has legalized recreational cannabis. However, the world is more open to the medical cannabis space. We think that medical cannabis will create the initial momentum for Canadian cannabis (MJ) players including Canopy Growth (WEED) (CGC), Tilray (TLRY), HEXO (HEXO), and Cronos Group (CRON). To learn more, read Medical Cannabis Business Could Be a Huge Windfall for Investors.
Following opportunities in the medical market, Constellation Brands welcomed the US farm bill, which legalized producing and selling hemp-based cannabis products in the United States. To learn more, read The US Hemp Market: Not So Straightforward for Cannabis Companies.
Next, we’ll discuss Constellation Brands’ updates on the cannabis industry.