Cannabis sector could grow to $200 billion in a decade, say Stifel analysts

The global cannabis market will reach $200 billion over the next decade, up from the $8 billion the industry brought in in 2018, according to a new note from analysts at Stifel.

“Cannabis represents one of the most significant growth opportunities in consumer goods of the next decade with our estimate suggesting a $200 billion global opportunity, up from the roughly $8 billion we estimate that was realized in 2018 in federally legal markets and U.S. state licensed sales,” analyst W. Andrew Carter wrote.

 

The firm is still bullish on market leader Canopy Growth (CGC¬†–¬†Get Report) ¬†despite its disappointing fourth-quarter results and outlook. The firm sees a “robust revenue opportunity” for the company amid elevated costs of achieving growth. But the easing of legal hurdles will not only help the company, but…

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