On Oct 17, marijuana is set to be federally legalized by Canada and the next big seller to get into the marijuana business may be Walmart.
According to reports, the Canadian division of Walmart is exploring the idea of selling marijuana-related products in its outlets. The Canadian division company said though it has no immediate plans the company has performed some initial measures on selling CBD-infused products in its outlets. CBD (Cannabidiol), a non-psychoactive constituent of marijuana has various health benefits and could be included in beverages, snacks, and beauty products.
The retailer giant’s Canadian division in a statement has said it has taken some initial measures on potentially selling CBD infused products, but has no plans to do so yet. Following the reports from the company Walmart’s stock was up by two per cent
In the United States, the CBD market is estimated to be a billion businesses. Some business experts believe in the next four years the market has the means to cross $22 billion.
On tracks of Walmart, the cola giants are reportedly interested to partner a deal with Aurora Cannabis.
Vivien Azer, an analyst at the investment bank Cowen, told that Health and wellness consumers were beginning to find value in cannabidiol-based oil extracts to improve day to day life