Canada is just about ready to open their recreational cannabis market in just two short months. There is already a lot of speculation on how legalization in Canada will affect legalization in countries such as the US. There is also the question of how this new market will affect the global cannabis industry. One sect that is expected to make a huge splash are Canadian extracts.
We get a special insight into this in an interview with Joel Sherlock, the co-founder and chairman of Canadian extracts company Vitalis Extraction Technologies in Cannabis Business Times. Sherlock believes that extracts are the wave of the future as far as the cannabis industry is concerned.
As he puts it, a lot of countries only allow extracts, which offers extraction companies an opportunity that growers do not have. “You look at a market like Colombia, which is extract-only, and that’s a 32-million-person market, medical-only and extract-only. They believe that if a doctor is going to prescribe cannabis, the best way to do that is in an extracted or controlled dose form,” he says. Basically, doctors are a lot more likely to prescribe cannabis extracts to patients because it’s easier to control the proper dosage. With flower, it’s much more difficult. Smoking flower feels more like a recreational activity, whereas taking a pill or using a tincture is more like “medicine.”
Sherlock also believes that Canadian extracts will have a large role to play in the cannabis infused beverages market. You saw Molson did the deal … with Hydropothecary, and then you have Canopy’s investment from Constellation Brands. I believe there’s going to be a very interesting shift into a whole other portfolio of products on the beverage side,” he says. Infused beverages are becoming so popular, beer companies are teaming up with cannabis companies to produce these beverages, a big change from when they used to be staunchly opposed to cannabis legalization.
It seems that extracts are what is going to bring cannabis into the mainstream, rather than flower. From this interview it’s pretty easy to see why.
Source: Cannabis Business Times
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