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Valens GroWorks Corp (CSE:VGW, OTC:VGWCF) has released its thirteenth episode of Extracted which covered the recently released “Future of Cannabis in Canada” report from Resonance Consultancy.
Valens GroWorks Corp (CSE:VGW, OTC:VGWCF) has released its thirteenth episode of Extracted which covered the recently released “Future of Cannabis in Canada” report from Resonance Consultancy. Valens sponsored the report. Resonance Consultancy President Chris Fair joined the hosts of the podcast to discuss the data in the new report. Fair talked about cannabis consumer preferences around product types, purchasing and place to consume, among other topics.
The purpose of the study was to better understand consumer preferences, behaviors and intentions among Canadian adults. Resonance also wanted to explore the difference between demographic subgroups. To this aim, Resonance and Valens partnered with Insights West to survey 1,500 Canadian cannabis consumers from across the nation. Insights West also surveyed 1,001 Canadians from the general populous.
“(It’s) not just around what their attitudes are today and how they’re consuming cannabis, but how do they want to consume it in the future? Where do they want to consume it? These are the types of questions that we wanted to get into,” said Fair.
According to the research, approximately 32 percent of Canadian adults are likely to use cannabis in the next year, which is up five percent since legalization. Most of the cannabis consumers are male, but consumption is spanning all age ranges. Canadians aged 18 to 34, however, are still make up the majority of cannabis users at 39 percent.
The report also looked at future trends in the industry. The research indicates that pre-rolls are the preferred method of consumption at the moment, but Fair believes that this will change. Of those interviewed, 58 percent said that they would be interested in consuming edibles. Some of the more surprising findings include almost two-thirds of Canadian cannabis users think cannabis is healthier and has fewer adverse side effects than alcohol.
To listen to the full podcast, click here.
