Investors have rightfully focused a lot of their attention on the opportunity for Canadian cannabis producers in their home country. After all, the Canadian adult-use recreational marijuana market is driving most of the growth for these companies. In addition, the next phase of this market -- cannabis derivatives, including beverages, edibles, and vapes -- is scheduled to launch later this year.

But an even bigger long-term opportunity for Canadian cannabis producers lies in international markets. Which of these companies already claim the greatest head starts outside of Canada?

Statistics Canada

The legalization of recreational marijuana in Canada last October has created quite a bit of excitement in the industry. The legal marijuana industry has already been growing at a rapid pace in the United States.

On one hand, legal marijuana could prove to be one of the fastest-growing industries on the planet over the next decade. If investment bank Stifel's forecast of $200 billion in annual worldwide sales in 10 years proves accurate, we could be looking at a compound annual growth rate for cannabis of around 34%.

A new report from BDS Analytics titled “The Global Cannabinoids Market: Will CBD Overtake THC?” is forecasting that

North America’s legal cannabis industry could be worth more than $47.3 (€43.23~) billion annually by 2024.

The North American Cannabis Report finds that despite Canada becoming the first G7 country to legalise adult-use cannabis, US cannabis market growth will greatly exceed its North American neighbour. Currently the most profitable industry in the world, the US, is expected to enjoy triple-digit growth by 2024, despite not having legalised cannabis on a federal scale.

The rollout of cannabis legalization has been far from smooth, but as we approach legalization’s first anniversary it’s become abundantly clear that Alberta’s approach is heads and shoulders above the rest of the country.

What’s especially remarkable about Alberta’s success is that despite the acrimony between Alberta’s two main parties on just about every issue, they are more or less on the same page when it comes to legalization.

When Stratford native Danyka Dunseith decided to leave her public relations job in Toronto two years ago to farm hemp on her grandmother’s farm northeast of Stratford, some called her crazy.

When it comes to cannabis, the proof is in the peeing.

Canada’s national statistics agency has been collecting and testing municipal wastewater samples from five cities for traces of cannabis to gauge actual usage of the now legal drug. The results are surprising: In some cases they contradict other Statistics Canada data on pot use, while shedding light on the potential size of the black market.