Watch out Coca-Cola, big marijuana is gunning for your customer base. A recent report by Cowen & Co says the cannabis industry will generate more sales than the soft drink business by the year 2030 reports the Cannabist.
As one of the fastest growing, homegrown agricultural products in the USA, pot is producing big time profits for its shareholders. Combine that fact with a growing number of states set to legalize and the sky is the limit.
Unhealthy, sugary soft drinks on the other hand have seen a major decline in sales over the past decade. That decline is largely attributed to an increase in healthy eating by most Americans since the year 2000.
While the soda industry continues to plummet, federal legalization is becoming a legitimate possibility in the next decade. Such sweeping legalization should open up a massive market for the cannabis industry.
If legislators give legal weed the go-ahead, Cowen & Co project the industry value to reach upwards of $50 billion by 2026 and nearly $75 billion by 2030. The soft drink market is currently valued at approximately $76 billion.
Find the entire Cannabist article here: Cannabis sales forecast suggests it may surpass soda by 2030