2018 marks a historic year for the cannabis industry, with Canada becoming the first G7 nation to federally legalize marijuana for recreational use. The year began strong for cannabis stocks, following a strong rally that began in the fall of 2017. However, a stock market correction saw significant declines in cannabis stocks, along with other major indices in mid-January.

October 17th, the date when recreational cannabis became legal in Canada, signalled a turning point in policy approaches to the popular drug not only across the country, but around the world.

Canada is only the second country and first major economy to legalize marijuana. The world looks to us for guidance and clarity as drug policies in several other countries are also relaxing.

But without any real precedent, legalization in Canada has been marred with problems. Chief among these issues is a lack of viable product.

The cannabis sector is set to be one of the most explosive industries in the world today and has the potential to grow to $146bn by 2025. It should come as no surprise that companies are partnering up to fight for a piece of this emerging industry. Whether it's via a joint venture or buying of stocks, teaming up is a good way of capitalizing on all that potential.

A number of enterprises have been watching the cannabis sector with keen interest. Especially after Canada finally implemented full legalization of recreational cannabis. In particular, three industries normally considered sluggish are taking this opportunity to revitalize their offerings.

The blossoming marijuana market is enticing alcohol heavyweights into the newly legal industry.

The world’s largest brewer, AB InBev, plans to invest $100 million (pdf) with partners in non-alcoholic drinks containing the active ingredients in marijuana, tetrahydrocannabinol (THC) and cannabidiol (CBD). AB InBev will team up with Tilray, the Canadian cannabis company operating in 12 countries and backed by billionaire investor Peter Thiel. The beverage research will be conducted jointly with AB InBev subsidiary Labatt Breweries of Canada. Each firm is committing $50 million.

It took less than a week for the Trump administration to kill the considerable buzz created Jan. 1 when California’s broad marijuana legalization law took effect, creating the largest legal U.S. cannabis marketplace. Then-U.S. Attorney General Jeff Sessions rescinded a policy shielding state-licensed medical marijuana operators from federal drug prosecutions. The move sent a chill through the nascent legal industry. But ultimately it had little impact because federal prosecutors around the country showed little interest in going after legal operators.

Sessions, a staunch marijuana opponent, later lost his job and the cannabis industry thrived in a hugely significant year for the legal pot movement , in the United States and beyond.

Here are some highlights:

Millions more square feet of plant production expected to come on line should ease supply shortages that have hobbled pot’s retail side, say those in industry.

That, and a flood of new federal sales licences for producers can’t come soon enough for retailers and their provincial government distributors who’ve felt the supply pinch. “By the end of the second quarter of next year, there’ll be a massive improvement in the amount of supply available,” said Mark Goliger, CEO of National Access Cannabis, which operates what’s currently the largest chain of cannabis stores in Canada.

“We won’t reach surplus, but the big suppliers will reach a mass capacity to supply the market.”

With the legalization of marijuana nationwide in October, Canada is already seeing a boom in cannabis-related employment. The number of cannabis jobs has shot up more than 200 percent, leading at least one company to import workers from out of the country to handle some of the jobs.

When doctors at the Solace Health Network of cannabis clinics prescribe their patients medical marijuana, one government-licensed producer of the drug might come quickly to mind.

The clinics’ parent company, after all, is Terrascend, which also owns a cannabis grower and seller.

A direct ownership link between doctor-staffed clinics and the manufacturer of their main treatment tool would be unheard of if it involved a pharmaceutical firm. But in the fast-evolving cannabis industry, Terrascend’s arrangement is far from unique — and quite legal.

The National Post has found close to a dozen companies across the country have combined pot-producing operations and marijuana-treatment clinics under the same corporate umbrella, in what seems to be a growing trend.

Nearly six months after cannabis was legalized Oct. 17 by the federal government, Ontario prepares for the launch of marijuana sales in brick-and-mortar stores April 1.

Calgary-based Spiritleaf is one franchisee that plans on opening 40 locations throughout Ontario. Right now, they have four physical stores operating in Alberta and Saskatchewan.

“We’re trailblazing and this is brand new for Canada and Ontario to have a regulated product in the hands of private entrepreneurs,” said Spiritleaf’s CEO Darren Bondar.

“There’s going to be all kinds of bumps and challenges … but you can’t touch, smell or feel online. Cannabis concierges can provide product knowledge and everything you’d want in a retail experience.”

Toronto-based Canada House Wellness Group Inc. (CSE: CHV) is capping off the year by announcing the company just received a full license from Health Canada to sell oil, seeds, dried flower, and fresh cannabis products for medical purposes.

The company previously held a provisional license to provide cannabis through wholly-owned subsidiary Abba Medix Corp.

Canada House additionally does business through the subsidiaries Knalysis Technologies and Canada House Clinics Inc., which was formerly branded as Marijuana For Trauma and focused on serving veterans.