Over the years, we have seen a decrease in Health Canada licensing applications. The drop was partly due to the regulatory changes requiring applicants to build their facility before receiving a licence. It was also driven by less available investment in the industry. Although we see fewer licences, there is an opportunity for cannabis producers to become more specialized and focus on a subset of product classes and become good at it. We see brands focusing on edibles, flower products, or extracts and having success. I predict we will see more producers moving in this direction.”
“The two most prominent challenges for cannabis producers that continue to be relevant in 2022 are limited banking opportunities and adapting to ever-changing, complex regulatory requirements. Hopefully, we will see less stigma around cannabis over time, allowing more banking options. In the meantime, Eurofins is here to support producers and give them the best shot in this dynamic and difficult industry.