By Jeremy Berke
Cannabis could soon become a bigger industry than soda, and it has already started putting pressure on alcohol sales.
If marijuana is made legal nationwide in the US by 2030, the legal weed industry could generate $75 billion in sales by that year, according to a new note from the investment bank Cowen.
Cowen’s cannabis sector analyst, Vivien Azer, revised her previous estimate up by $25 billion. Legal marijuana sales are already around $50 billion, Azer said in the note.
Soda consumption, on the other hand, is declining. Per capita consumption fell to a 31-year low in the US in 2016, Bloomberg reports, with $76.4 billion in sales in 2017.
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