According to Cowen & Co., a research firm, the legal marijuana industry in the U.S. could one day outpace the sale of soda.
The firm expects the legal cannabis industry in the U.S. to hit $75 billion by the year 2030. Previously the firm had said the market would reach $50 billion by 2026.
Analyst Vivien Azer of Cowen wrote in a note on Wednesday, “New forecasts suggest that the market is already that size.”
The soda market in the U.S. is already at $76.4 billion but this was a drop compared to the $78.3 billion seen in 2016.
U.S. soda sales have been declining for the 12th straight year which means its very possible that marijuana sales could outpace the soda industry.
