United States: cannabis sales could overtake soda sales by 2030

The legal cannabis industry in the US could reach $75 billion in sales by 2030, according to specialist firm Cowen & Co. This would be equivalent to the size of the current soda market in North America, according to Bloomberg.

While the two industries are moving in different directions, cannabis is likely to gain the upper hand. Today, 9 states have legalized cannabis, and 29 for medical purposes. 1/4 of Americans now live in a state where cannabis is legal, and can be consumed by burning, vaping, drinking or smoking. edibles.

Cowen had previously estimated that the market would reach $50 billion by 2026, assuming federal legalization in the meantime. The total market may already be that size, according to Cowen analyst Vivien Azer.

On the other hand, soda sales are declining as a result of the growing awareness of the need to reduce consumption. healthy of consumers. 2016 had seen the lowest soda consumption in over 30 years, and the market lost $2 billion between 2016 and 2017, to $76.4 billion.

Another industry could also decline with the arrival of legal cannabis: alcohol. Alcohol consumption rates are beginning to fall in states where cannabis is legal, compared with those where only medical use is permitted, or where cannabis is still prohibited.

«We've always maintained that alcohol and cannabis are social lubricants that can be substituted,» confirms Azer.

Some alcohol manufacturers are anticipating this trend by investing in medical cannabis. These include the case of Constellation Brands, the distributor of Corona in the United States, which acquired a stake in Canopy Growth, a Canadian cannabis producer. On the French side, Pernod Ricard said «to »take a close look" at the phenomenon.