Philip Steffan

Analyst Pegs U.S. National Cannabis Market at $47 Billion; Stocks Soar

Wall Street Investment bank RBC Capital Markets has estimated that a legal cannabis market in the entire U.S. could generate $47 billion annually within the next ten years, according to a Business Insider report. The same analyst claimed that current combined legal and illegal sales top $50 billion.

“We believe further US decriminalization of cannabis including for recreational use is very likely over time. It ultimately starts with US voters who across demographics are supportive of cannabis legalization.” — RBC Capital Markets, in a letter to clients

RBC Capital Markets compared that $50 billion number to existing spirits, beer, and wine markets. Spirits currently generate $58 billion annually, wine $65 billion, and beer $117 billion.

Cannabis, then, even in the current climate, is comparable to other recreational substances. As social stigmas regarding cannabis consumption shift, those numbers may further change.

The investment bank went on to praise the recent move by Constellation Brands, makers of Corona, into the cannabis market with Canopy Growth. Shares of Canopy Growth have soared since the $4 billion investment, bringing nearly every publicly traded cannabis company’s shares up with it.

Get daily cannabis business news updates. Subscribe

Have an additional perspective to share? Send us a message to let us know, and if your comment is chosen by our editors it could be featured here.

Sponsor message:


Latest Cannabis News

View all news Get email updates

Featured Business Profiles

Create a profile View all categories

From Our Partners