Report: U.S. Legal Cannabis Sales Could Top $75B by 2030
By TG Branfalt
According to research firm Cowen & Co., legal cannabis sales in the U.S. are expected to reach $75 billion by 2030, which would put it on track to surpass the current sales for non-alcoholic carbonated drinks, Bloomberg reports. The firm previously predicted that the cannabis market would reach $50 billion by 2016 – if legalized federally – but analyst Vivien Azer said that “new forecasts suggest that the market is already that size.”
She added that while legal cannabis is not a direct competitor to the soda industry, it is likely going to impact the bottom line of the alcohol industry.
“We have consistently argued that cannabis and alcohol are substitute social lubricants.” – Azer to Bloomberg