Sunday, July 14, 2024

Canadians Already Spend As Much On Cannabis As They Do Wine

Canadians love their wine and beer. And, according to a latest federal study, they like their cannabis, too. In fact, Canadians spend nearly as much money on marijuana as wine.

According to report released this week by Statistics Canada, $4.8 billion was spent nationally on cannabis in 2o15. During the same year, wine sales accounted for $5.4 billion. Beer sales were more than double at $11.8 billion.

The study —titled “Experimental Estimates of Cannabis Consumption in Canada, 1960 to 2015” — found, not surprisingly, that use of cannabis has gone up over as it has become more popular among adults.

The report reads:

The study estimates that the volume of cannabis consumed tended to increase over time from 1960 to 2015, due in part to the increase in consumption among adults. Indeed, the relative importance of the different age groups to the volume of cannabis consumption is estimated to have changed significantly over time.

In the 1960s and 1970s, the cannabis market was predominantly youth driven. However, by 2015, just under six percent of estimated cannabis consumers are estimated to be in the 15 to 17 year old age group, while two-thirds of cannabis consumers are over the age of 25.

Statistics Canada, the national agency tracking this data, warns that these numbers are merely estimates since there is “no systematic process” for collecting cannabis usage data. The agency claims the sales figures could be closer to $10 billion or as low as 2.5 billion.

Canada is scheduled to legalize sales of recreational cannabis for adult use in July 2018. The federal government plans to place a 10 percent excise tax on retail sales, which could bring in $544 billion in tax revenue.

Statistics Canada’s report also found:

  • 16.29 percent of Canadians consumed cannabis in 2015, an increase from 11.86 percent in 2010.
  • Canadians consumed 1,539 pounds of cannabis in 2015, a 47 percent increase from 201o.
  • 38 percent of cannabis consumers were in the 18-24 age bracket.

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