Report: Cannabis Will Overtake Tobacco by 2029

We’re all aware of the epic potential for the coming green era. Competition within the cannabis industry  is fierce. San Francisco-based Ackrell Capital predicts that the cannabis industry will reach $100 billion by 2029, toppling numbers achieved by the tobacco industry, in a recent report. The report predicts that not only will cannabis prohibition end, but it gives us a timeline—2020, to be exact.

Ackrell Capital monitors financial trends in the cannabis industry. According to the report, only eight states currently ban cannabis in every circumstance. This and other reasons show us  that the cannabis industry isn’t going anywhere.

“The accelerating momentum toward cannabis legalization and the growth of this newly created market will result in the ‘green gold rush’ of our generation,” Founder Mike Ackrell wrote. “A modern understanding of cannabis and a thorough analysis of both the opportunities and risks are paramount to evaluating the cannabis industry, which has the potential to reach more than 50 million consumers. Our report provides sophisticated investors with a foundation for evaluating if, when and how to invest in the cannabis industry.” The report also lists the “Top 100 Private Cannabis Companies 2016” and “The Green Field 2016” industry landscape.

Ackrell estimates that cannabis prohibition will end by 2020, and that the cannabis industry will grow to nearly $10 billion by 2019. The cannabis industry is attracting more and more non-cannabis users who are looking to capitalize on the trend, and make a lot of money.  Ackrell believes, that once legalized, the market will grow to $37 billion within five years, and $50 billion within ten years.

“We believe that it is a question of when—not if—the federal prohibition on cannabis will end,” Ackrell said in the report. The general consensus seems to agree. Get a complimentary copy of the 2016 report and other reports here.