How Much Of An Impact Will Cannabis Have On Alcohol Sales?

The increasing prevalence of legalized cannabis today is expected to greatly impact alcohol sales and consumption habits, with a growing number of people opting to consume cannabis rather than drink.

It's been previously suggested that the beer industry is set to lose billions because of the change.

For this reason, the alcohol industry has aggressively been lobbying against cannabis legalization, along with pharmaceutical companies, and others.

In Canada, it's been reported that they're now seeing a decline in beer sales now that their legal market for cannabis has been established. But beer companies disagree with the correlation.

They haven't seen any notable decrease in sales in several states that have legalized.

Previous research has shown that areas like Colorado haven't experienced a dramatic decline in alcohol sales after embracing cannabis legalization in the region.

Other reports insist that the results are similar for others states as well, that the alcohol sales aren't seeing any drastic decline just yet, following the change of legalizing weed.

But there is a chance for it to have some impact eventually, as more areas accept a cannabis market. It might not only be the preferred product for consumption for many, but it has also shown potential for assisting alcohol recovery too. Researchers have suggested that cannabis might play a critical role in helping individuals to battle and overcome alcoholism, along with providing other potential remedy to illness.

Surveys have also found that many beer drinkers admit they're ready to make the switch to smoking pot instead. There are also reports that many younger people today also prefer cannabis to drinking.

If any products are at risk, alcohol industry experts suggest it will likely be low end beer sales.

Over the years, they expect that cannabis might start to take up more disposable income from people, as the product varieties continue to grow; along with social acceptance for the product etc. The success that the alcohol industry might be having now could change as more opt for cannabis instead in the future.

There is also research indicating that increased exposure to recreational cannabis might lead to a decline in alcohol sales.

For those that don't want to choose between the two, you can find a growing number of companies looking to mix the two together. You can also find beverage companies that have sought to invest millions into the cannabis industry.

Pics:
pic1
pic2
Pic3

Related Posts:

Survey: ¼ Of US Beer Drinkers Say They're Switching To Cannabis

Cannabis Legalization Expected To Be A Buzz-killer For Beer Sales

Cannabis Could Help With Alcoholism And Opioid Addiction, New Study Says