Evolving Cannabis Industry Potential and Constellation Investment Overview
Cannabis Market Opportunity
Governments Around the World Have Signalled a Significant Change in
Attitudes Towards Cannabis in Recent Years
Countries with / Exploring Legal Cannabis Framework
2001
2014
2
5
Today
+25
Current or Pending Commercial Legal Status²
Medical
Recreational and Medical
In the Process of / Exploring Legalization
Limited
Illegal
Source: Company information, Marijuana Business Daily Factbook 2017
Note: Cannabis remains illegal at a federal level in the United States.
Constellation
Brands
CANOPY GROWTH
CORPORATION
US Opportunity:
~$50bn Industry Today¹
Estimated US Cannabis Sales vs. Other
US CPG Categories (US$bn)
Beer
117
Cigarettes
Wine
65
59
Spirits
58
Total
50
77
77
Cannabis
Global Opportunity:
Potentially >$200bn by 2032
~$11bn
Canadian Recreational and Medical
~$96bn
US Recreational and Medical
~$120bn
RoW Recreational and Medical
'Includes estimated legal and illegal markets in the US as of calendar year 2017.2 Current commercial legal status estimates as of June 2018; includes material updates. Legislation permitted the recreational market in Canada will come into force in October 2018.
Limited legalization includes the legal "Coffee shop" system in Amsterdam and areas where cannabis is permitted in private clubs.
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