Cannabis isn’t just any old plant. This leafy green plant has been hailed a therapeutic powerhouse by scientists, who are intensely studying cannabis’ potential as a medical aid. Pot stocks are gaining traction in the stock market, where traders and investors are brimming with excitement at the thought of cannabis’ long-term growth potential. Many are carefully watching the cannabis boom in Israel, as the research and progress for cannabis there is unparalleled.

As much as $50 billion in annual cannabis sales are expected by numerous firms on Wall Street. Cannabis industry analysts at Cowen Group predict that global cannabinoid and cannabis sales could eventually top $200 billion annually.

Cowen’s predictions are realistic, considering the fact that global cannabis expenditure is expected to grow 230 percent by the time we reach the year 2022 to a whopping $31.3 billion. If we compare this to 2017, when legal cannabis spending hit $9.5 billion, the data indicates growing consumer acceptance of weed.

What’s more, as much as $23.4 billion of the projected cannabis sales forecast for 2022 will come from U.S. shoppers. As an industry with such good financial prospects, it’s not surprising that investors are cashing in on the “Green Rush” that has so far spread across 33 U.S. states.

Cannabis Sales Could Surpass Soda Sales by 2030

In September of 2018, Barclays published its European Consumer Staples Report. Detailed in this report were a number of statistics suggesting that the cannabis market could eclipse soda sales within the next decade. Barclays revealed how the global cannabis market value is estimated at around $150 billion at the current time.

The team of analysts from Barclays European Consumer Staples who compiled the report claim that the figure could swell to $272 billion by 2028. This means that cannabis sales are likely to surpass alcohol sales in the near future; in 2017, alcohol sales topped $210 billion.

The non-alcoholic drinks market, on the other hand, is moving in the opposite direction. A report from Bloomberg spotlighted a 31-year low for soda consumption in the U.S. in 2016. The following year, soda sales reached just $76.4 billion.

With fewer people reaching for soda and alcohol, as opposed to cannabis, beverage giants like Constellation Brands are turning to the cannabis market. The company struck a $4 billion deal with Canopy Growth Corp. last year to produce a range of weed-infused beverages.

To put things into perspective, states that legalized cannabis have seen a reduced rate of binge-drinking, according to a report from Wall Street investment firm Cowen & Company. Adults residing in weed-friendly states binge drank 13 percent less times each month than binge drinkers in states that have not yet passed cannabis laws.

Cannabis Could Rival Confectionary and Publishing Industries

“Comprehensive research and financial analysis for the emerging legalized marijuana industry” was recently published in the form of a report from Greenwave Advisors. Based on the contents of this report, the legal cannabis industry could reap revenue to the amount of $35 billion by next year; contingent on the plant being legalized on a governmental level.

Now, let’s put those figures side-by-side with existing revenue that has accumulated in the confectionary industry ($34 billion) and newspaper publishing industry ($38 billion). Since the projections from Greenwave are merely based on the first year of cannabis being legalized at the federal level, it is clear that the cannabis industry boasts serious potential for success.

Support for Cannabis Legalization is at a Record High 

A Gallup poll demonstrated growing support for legal cannabis in the U.S., where government restrictions on the plant are hindering research. The poll indicated that 62 percent of Americans are in favor of legal weed. Since the U.S. cannabis market accounts for 90 percent of global market share, legalizing the plant at the federal level could mean great things for the U.S. economy, not to mention its consumers.

Growth in the U.S. cannabis market has created stiff competition for the beverage market. The solution? Beverage giants are encouraged to capitalize on the blossoming industry by getting a slice of the pot pie. With cannabis-infused drinks providing long-lasting effects, there’s a powerful segment of the market to be captured here.