Cannabis 2.0 – Marijuana Industry Turns a New Leaf
On October 17, 2019, exactly one year after the federal legalization of cannabis nationwide, Canada’s cannabis regulations were expanded to include a host of products that expanded upon the initial offerings of dried flower, oils and capsules. These new categories of products include edibles (ingestible extracts), concentrates (including but not limited to shatter, vape pens and hash), and topicals.
This is a marked shift in the cannabis space, as the first fiscal year of legalization marked decisive losses in profits as Canadian cannabis stocks fell to the wayside. The hope is that these new categories of products will pave the way for increased consumer choice and interest.
Evolving Cannabis Regulations
With the inclusion of various new categories of cannabis products, the selection of products for cannabis users grew substantially. Dried and cured cannabis flower, available in 3.5/7/15 loose gram options, and 0.5/1 gram pre-rolls are still available while tinctures, oils an4d capsules have now been retrofitted into a new category of products known as ‘extracts.’
This new category is now one of the largest, as it covers cannabis products designed for combustion and vaporization (hash, rosin, wax, shatter, vape cartridges) as well as oils and capsules.
Another new addition to the cannabis space is cannabis edibles. Also known as ‘ingestible extracts,’ the category includes baked goods, gummies, candies, and beverages. Topicals, the smallest category, includes cannabis products that are designed for external application to the hair, nails or skin.
Health Canada has stipulated that the THC content for these new categories of products will be capped at various levels. Cannabis concentrates, extracts (including vaporizers) and topicals are set at 1000mg of THC with a cap of 10mg per discernible unit.
Edibles are more limited. Each package is capped at containing 10mg of THC. Nevertheless, this high-demand category of products have been long anticipated before their official release into the retail space and many within the industry have begun to experiment with new and novel ways of consumption. Drinks and drink-mixes stand out as prominent examples.
What Cannabis 2.0 Products Are Available?
Cannabis consumers have long been accustomed with the likes of shatter, waxes and other butane hash oil cannabis extractions, but it’s more likely than not that Licensed Producers (LPs) will be focusing their efforts on edibles and vape cartridges. Edibles, now classified as ‘ingestible extracts,’ are a particularly in-demand item, and it’s expected that THC infused beverages will be especially popular. The topicals category will most likely field the most interest from the medical side of legalization, and is expected to have minimal impact in the retail space.
With cannabis innovation ramping up in Canada, classic product offerings and fresh spins on old favourites are also starting to disrupt the industry. Live Rosin, Hash, and Kief are just some of the new cannabis extracts that consumers will have access to, among many more.
Acreage Pharms Involvement in Cannabis 2.0
We’re pleased to announce our development and launch of a series of vaporizers and vape carts. Our selection of Badder, Shatter, and Caviar cannabis concentrate products are also an area that we’d been focusing heavily on to perfect and deliver on.
These will be available for purchase under our various brand portfolios. Catering to both the recreational market as well as the medicinal, Acreage Pharms is poised to become a leader in Cannabis 2.0 product offerings.