The head of Canadian cannabis industry giant Canopy Growth, Bruce Linton, has declared the legalisation of cannabis in his home country has been a success. In the few months since recreational use was approved, the industry is developing rapidly, according to Linton, with progress spread evenly across the provinces. Canopy, which has a market cap of more than CAD15bn ($11bn), has seen revenue grow 300% since implementation, he said. Areas showing most potential for growth include pharmaceuticals, edibles and beverages. Although Canada’s industry has huge potential, Linton said it is in its “toddler phase”.
Canopy CEO Speaks Out on Canadian Cannabis Legalization
Canopy Growth Corporation, a Canadian cannabis industry giant, has been at the forefront of Canada’s legalization of recreational cannabis use. In a recent interview, Canopy CEO, Bruce Linton, spoke out about the progress made since legalization and what he sees for the future of the industry.
Progress Since Legalization
Canada became the first major world economy to legalize recreational cannabis on October 17, 2018. Since then, the industry has seen significant growth and development. Canopy Growth has been one of the major players in the industry, with a market cap of over $15 billion.
According to Linton, the rollout of legalization has been “going very well.” He attributes this to thorough planning and preparation. “Canada had a very staged and predictable rollout, where you knew the provinces, territories and rules long before,” he said. “People knew what was happening and that helped us prepare.”
Linton also noted that legalization has helped to bring the cannabis industry out of the shadows and into the mainstream. “It’s brought weed out of the alley and into the light. It’s a whole different conversation now,” he said.
The Future of the Industry
Despite the success since legalization, Linton believes that the Canadian cannabis industry is still in its infancy. “We’re going to see a lot of growth over the next few years,” he said. “We’re still in the toddler phase of the industry.”
Linton expects to see more innovation and advancements in the industry, with significant growth potential in areas such as edibles, beverages, and pharmaceuticals. “This is not a small industry, it’s going to be huge,” he said.
In addition to growth in Canada, Linton sees potential for the industry to expand globally. “We want to be a global company. We want to have a presence in every major country in the world,” he said.
FAQs
What has been the impact of legalization on Canopy Growth?
Legalization has been a significant driver of growth for Canopy Growth. According to Linton, the company’s revenue has increased by over 300% since legalization.
What areas of the industry does Canopy Growth see as having the most potential for growth?
Canopy Growth sees significant growth potential in areas such as edibles, beverages, and pharmaceuticals.
What is Canopy Growth’s global expansion plan?
Canopy Growth aims to have a presence in every major country in the world. The company has already established operations in several countries, including the United States, Germany, and Australia.
What is the outlook for the Canadian cannabis industry?
The Canadian cannabis industry is still in its infancy, with significant growth potential in the coming years. Canopy CEO Bruce Linton predicts that the industry will continue to see growth and innovation in areas such as edibles, beverages, and pharmaceuticals.
