The ancillary market, which includes everything from growers to labs to security, would increase that to at least $12.7 billion to $22.6 billion. Add tourism revenue, business taxes, licence fees and paraphernalia and Deloitte predicts the sector could be worth even more.

OTTAWA – We like our beer, wine and spirits in Canada, but the booze business has nothing on the predicted profits to be had in our country’s soon-to-be legalized recreational marijuana sector.

Sales of legal pot are set to surpass sales of all types of alcohol combined according to a study from Deloitte to be released soon, which suggests that legalizing weed will spark a $22.6 billion industry in Canada. Advanced copies of the report show that the base retail market alone could be worth $4.9 billion to $8.7 billion annually, reported News 1130.

The ancillary market, which includes everything from growers to labs to security, would increase that to at least $12.7 billion to $22.6 billion. Add tourism revenue, business taxes, licence fees and paraphernalia and Deloitte predicts the sector could be worth even more.

The report also predicts the 600,000 kilograms annually that will be needed to satisfy the recreational marijuana market can’t be met by Canada’s existing 36 licensed producers who grow for medicinal purposes.

The consulting firm warns other challenges will include setting proper price points for pot — figuring out what a legitimate market will actually pay while cutting out the criminal element.

The federal government has promised to introduce new marijuana legislation by next spring.