Another day, another estimate of how big the recreational cannabis market is going to be — and another big, fat number followed by “billion.”
The current guess is that recreational cannabis will be a $50 billion market by 2026, a figure arrived at by Cowen and Company — a New York City-based investment bank. There are a few factors working in cannabis’s favor, the bank noted: it’s a market going away from criminal and towards legitimate, it has more and more users every day, and those users have a “high per capita consumption.” All this leads to a market as big as $50 billion in a decade, Cowen and Company’s reported guessed.
This is the fourth major investment bank to issue a market report on the cannabis industry in the past year, New Cannabis Ventures noted: Merrill Lynch, Bank of America, and Ackrell Capital have all guessed at how big cannabis is going to be.
Ten different analysts contributed to “The Cannabis Compendium: Cross-Sector Views on a Budding Industry.” They think as many as 17,000 cannabis retailers will dive into the sector, including “delivery services, online content, online shopping, and online medical evaluation,” according to New Cannabis Ventures.
And — this is no joke — legalization also going to be good for Jack in the Box, Cowen’s report says. There are a lot of the fast food chain in California, Arizona, and Nevada, where legal cannabis could be approved by voters in November.
What do you make of these predictions for recreational cannabis sales?