A new study called “The Future of Cannabis in Canada”, conducted by Insights West for Resonance Consultancy in partnership with Valens GroWorks Corp., has found that Canadian consumers will use cannabis for a number of health benefits including reducing stress, as a sleep aid and for relieving anxiety.
“Our study found that almost 80% of Canadians are turning to cannabis for relaxation and well-being even though the majority of users don’t have medical prescriptions. Clearly, even without clinical research, Canadians believe cannabis has a positive impact on their health and LP’s should take not,” said Everett Knight, Executive VP, Strategy and Investments for Valens GroWorks in a press release.
According to the study, 79 percent of Canadian consumers use cannabis regularly or occasionally to relax with 74 percent saying they use it for fun or recreation. This is followed by 69 percent of Canadian cannabis consumers using cannabis to relieve stress, with 60 percent saying they use it to help them fall asleep.
“One of the big insights from the survey was the obvious market potential for cannabis-infused wellness products, especially once ‘the second legalization’ of edible cannabis products arrives in Canada in the fall,” said Chris Fair, an author of the report and President of Resonance Consultancy.
The study also found that cannabis is being perceived more positively with six out of ten cannabis users saying that cannabis is healthier than alcohol and believe cannabis has fewer side effects than alcohol. In relation to alcohol the study also found that 57 percent of users believe that cannabis is less addictive than alcohol.
The study says that 54 percent of cannabis users go for cannabis when it comes to considering which substance is “superior” at making them feel better. This is almost not a surprise considering industry experts expect the legal marijuana to severely disrupt the alcohol industry as well as the over-the-counter and branded pharmaceuticals industry.
Source: 420 Intel
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