Luxury Brands Emerge in the Cannabis Market | Financial Buzz

Luxury Brands Emerge in the Cannabis Market

Earlier this year, Canada stepped into the spotlight as the first and only G7 country to legalize recreational cannabis nationwide. In a report released by Statistics Canada, the total cannabis market in Canada, including medical, illegal, and legal recreational products, is expected to generate up to CAD 7.17 Billion in sales in 2019—up to CAD 4.34 billion of which will come from the legal recreational market.

Recreational legalization has had a powerful effect on the industry, sparking a wave of innovation and entrepreneurship. Migrating the cannabis trade to legal markets has offered numerous advantages, including the establishment of a regulated industry, a restriction on illegal sales, and the inception of safer products. For retailers and licensed producers, legalization represents the opportunity to prove that the cannabis industry can have a positive contribution to the national economy.

With the expansion of the legal cannabis market in North America, the luxury niche within is only going to grow along with it. In a market that is already saturated with a variety of products, companies like TrueToke lead at the forefront of luxury in the cannabis segment. Conceived by cannabis enthusiasts that have graduated from the typically-designed devices found in smoke shops and dispensaries, TrueToke offers merchandise that can be presented in the professional world. The company’s catalog includes high-end accessories such as 24k gold-plated grinders and marble rolling trays. According to the company these products were designed to exude maturity and elegance.  TrueToke products will be available at For more Content Please Visit:

“Luxury brands and luxury products are definitely a growing part of the cannabis industry,” John Hudak, author of Marijuana: A Short History, told in a report by Vice’s Garage. “They’re marketing to a group of people who are not traditionally seen as cannabis users, but who are willing or ready to get into the new legalization culture. They don’t necessarily want to be smoking flower. Although they may be smoking unique strains, this is a group of people who are more interested in trying newer products and newer vehicles of consumption.”

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