Canopy sees global pot market hitting $70B by 2023 if U.S. legalizes weed

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Summary

Klein shared a projection that pot beverages might comprise 5% of the Canadian beverage market soon. Turning to beverages specifically, Canopy is betting big on cannabis-infused drinks in its attempt to win over more customers on the Canadian market. Canadian pot giant Canopy Growth expects the global market for legal weed to reach $70 billion by 2023 should the U.S. legalize marijuana nationwide.  “Canada is expected to be about four times the size that it was in 2019. These are all by the time we get to 2023,” Canopy’s chief executive officer David Klein said at a virtual meeting this week. Canopy plans on rolling out over 40 CBD products in the U.S. in the coming months, including edibles, vapes and beverages.

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Canadian pot giant Canopy Growth expects the global market for legal weed to reach $70 billion by 2023 should the U.S. legalize marijuana nationwide. 

“Canada is expected to be about four times the size that it was in 2019. U.S. CBD, six times. In Germany, about 10 times. These are all by the time we get to 2023,” Canopy’s chief executive officer David Klein said at a virtual meeting this week.

During the meeting, the company updated investors on the impact of the coronavirus pandemic on its business. 

Just last week, Klein said...

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