TD - Cannabis Vs. Alcohol: Wall Street Analyst-Led Research Shows $29B Cannabis Surge 18M New Users | Benzinga

A new report by TD Cowen analyst Vivien Azer unveils a shift in consumer behavior, spotlighting the clash between legal cannabis and alcohol sales.

"Alcohol sales in legal cannabis states underperformed by 100-150 bps over the past five years," revealed Azer.

See Also: As Cannabis Consumption Surges While Alcohol Falls, This Expert Sees A $100B Market Opportunity For Weed

Turning to growth projections, Azer's research — first reported by the Green Market Report (GMR) — forecasted U.S. cannabis sales surging to $29 billion by 2023, with a robust 7% Compound Annual Growth Rate (CAGR) over the next five years.

Azer, the first senior Wall Street analyst to cover this emerging industry in 2014, anticipates a paradigm shift, projecting the cannabis sector to attract 18 million new users while potentially witnessing a decline of 2 million alcohol users. 

Shifting Preferences: Colorado Leading the Way

According to the report, Colorado stands as a symbolic vanguard of evolving consumer preferences, securing an 11% market share for cannabis — a ...

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