Canada’s federally regulated marijuana industry captured more illicit-market share than ever in 2023, the government’s annual Canadian Cannabis Survey suggests.
Illicit-market capture is a crucial metric for legal cannabis businesses as it represents their actual total addressable market (TAM), or the revenue opportunity available for businesses operating on the legal side of the industry.
ADVERTISEMENT
Outside the United States – where marijuana is legal in many states but is still federally illegal – underground cannabis sales are often included in TAM models.
But they shouldn’t be, since those sales aren’t available to legal businesses.
The latest version of the survey asked Canadians who consumed cannabis in the past 12 months where they obtained their products from: 69% reported they “always” obtained their marijuana products
Read full article on Marijuana Business Daily
