Cannabis Consulting Compliance of the Year in Canada - 2024

The growing legalization of cannabis has resulted in industry growth, fueled by the regulatory compliance that allows for continued oversight and control. Authorized audits offer recommendations on addressing areas of non-compliance and help companies improve operations to uphold the quality and safety of their products.

Estimated at USD 1.80 billion in 2023, the global cannabis industry is expected to increase at a compound annual growth rate of 17.21 percent from 2024 to 2030. The positive attitude of consumers towards the consumption of cannabinoid-based products has led to its increased penetration in the market.

Consumers are drawn to skincare products made from marijuana because they can help control itching, lower sebum production, lessen redness and minimize cellular inflammation. Additionally, it lengthens the duration of breakouts and enhances the skin's natural healing process.

To stay abreast of the changing landscape, companies must adhere to the most recent standards and regulations by conducting compliance audits. The cannabis sector functions within a complex regulatory framework that is defined by a disparate collection of national, state and international regulations. To reach foreign markets and guarantee the quality and safety of their products, cannabis firms with global ambitions must operate in compliance with international standards like Good Agricultural and Collection Practices and Good Manufacturing Practice certifications.

In this edition of Cannabis Business Insights Canada, we explore the recent developments in cannabis consulting compliance and how companies are adhering to the regulations to prevent any non-compliant issues from becoming larger concerns down the road.

We feature insights from industry experts like Steven Rumsey, Director of Innovation and Technology at Duas Rodas, who focuses on helping licensed cannabis businesses build trust with stakeholders. We also feature Martin Venegas, Director of Manufacturing at The Hershey Company, who identifies potential legal and financial penalties that might damage a company’s reputation.

In this edition featuring the cannabis consulting compliance of the year in Canada 2024, we aim to help you find the right partner for your business requirements.