How will Cannabis Legalization 2.0 in Canada Affect Your Business?
This entry was posted on October 31, 2019.
Canada's Oct. 17 legalization of edible cannabis items represents the second step in the nationwide rollout of recreational marijuana. If your company is part of this rapidly developing ecosystem, you'll need to prepare a new set of custom marijuana labels to keep your products compliant and available to customers.
Unlocking a Powerful New Market
While predicting the exact direction of a new market sector such as legalized cannabis always comes with some variability, initial signs are positive for legalization 2.0. According to Deloitte, the market for edible cannabis items, marijuana-infused drinks, topicals and more will be worth billions annually. The analysts noted that the initial ramp-up to that value will be gradual, as supply problems are likely to limit the market's reach for a few months following legalization.
Deloitte added that the legalization of edibles is unlikely to have much of a negative effect on other cannabis categories at first, which adds up to major opportunities for companies within the industry. No matter what kind of goods your organization specializes in, you can capitalize on the strong market momentum across Canada by setting up a strong supply chain and putting safe, compliant items on store shelves. According to the Deloitte report, your cannabis company has an advantage over its U.S. equivalents from the start, due to the fact that you have federal government and banking support.
Labeling Products Correctly to Stay in Compliance
Working with an experienced partner such as Lightning Labels for your brand's cannabis labels is a great way to stay in compliance. With years of experience in the U.S. recreational market, where various forms of edible and topical products have been legal for years, Lightning Labels has a fully developed label printing infrastructure ready to help its clients. Quick turnaround times and flexible order sizes are available due to the use of all-digital printing processes.
Your edible cannabis labels will have to meet all relevant laws, containing the necessary visual markers and tracking features to become part of the heavily regulated system. Unlike in some states in the U.S., Canadian packaging has to be free of branding. Deloitte noted that in the absence of this kind of promotion, companies will have to keep innovating consistently to stay ahead of the game, adding new products and providing strong recommendations to customers.
Introducing new products into your cannabis lineup, from edibles to beverages and topicals and beyond, will require the creation of new packaging types. When you order edible labels from Lightning Labels, you gain the reassurance of working with an experienced organization that can provide round-the-clock customer service.
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