Acting quickly to enable businesses to capitalize on the demand for CBD health products would create a billion-dollar niche market in Canada while shutting down illicit sales and assuring consumer health. Image: CBD-Infos, Pixabay

TORONTO -- Today, the Canadian Health Food Association (CHFA) released a report prepared by the Institute of Fiscal Studies and Democracy (IFSD) to estimate the potential size of the cannabidiol (CBD) market in Canada and its positive economic impact if the Government of Canada were to permit CBD in natural health products (NHPs).

"We want to show the potential this has to benefit industries across Canada. This is especially important in the wake of the COVID-19 pandemic. We are not in the same policy, health or decision-making environment we were a short six months ago. Canada needs opportunities like this to support economic recovery, be well positioned for new export markets when they open, and to create jobs for Canadians in communities across the country. A market for CBD health products is the economic opportunity Canada needs, but we are set to lose out if we don't move quickly to regulate

Read more »