A cannabis plant grows in the Amsterdam Cannabis College on Feb. 7, 2007 in Amsterdam, Netherlands.
Christopher Furlong—Getty Images
October 27, 2016 6:13 PM EDT

If recreational marijuana is legalized in Canada, it could generate a nearly $23 billion industry in the country, a new study suggests.

Sales would surpass the combined totals that come from beer, wine and spirits purchases, according to the Toronto Star, which cited a soon-to-be-released Deloitte report on Thursday. The newspaper said the report found that the base retail market alone would be worth $4.9 billion to $8.7 billion annually, while the ancillary market would spike to about $22.6 billion.

Marijuana appears to be moving toward legalization in Canada. Prime Minister Justin Trudeau last November asked federal officials to set up a legal framework for pot legalization.

[Toronto Star]

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