Cannabis Legalization Expected To Be A Buzz-killer For Beer Sales
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According to a beverage, tobacco, and cannabis analyst, who works with the financial services company known as Cowen and Company, it's believed that cannabis culture is going to significantly impact beer sales in the market.
The cannabis industry in the United States has already grown to a multi-billion dollar industry and hasn't showed any signs of slowing down.
One previous estimate suggested that roughly 1 in 4 beer drinkers in the U.S. might be considering making the permanent switch to cannabis.
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If a great deal of people are going to be considering giving up their prescriptions or drinking habits, opting instead to start consuming cannabis, it's easy to see why that might not make pharmaceutical or liquor companies very enthusiastic.
Beer industry lobby groups have already been accused of aggressively campaigning to try and put a stop to cannabis legalization. Pharmaceutical companies have also allegedly been found to be funding anti-cannabis political opposition ads, trying to influence the public to support criminalization of this plant.
These companies are busy spending millions of dollars on trying to prevent people from being able to exercise their natural rights and consume cannabis.
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It's estimated that the cannabis industry is worth somewhere around $50 billion at the moment.
The analyst with Cowen and Company has suggested that she is cautious on beer stocks at the moment, though very bullish on cannabis.
They say that the interference in the alcohol market is the most obvious one to them, that cannabis has the potential to disrupt.
Pics:
Pixabay
Sources:
https://www.forbes.com/sites/thomaspellechia/2018/03/01/double-digit-billions-puts-north-america-in-the-worldwide-cannabis-market-lead/#723b95f76510
https://www.reuters.com/article/us-distilledspirits-sales/u-s-distilled-spirit-sales-and-exports-rise-to-record-high-in-2017-idUSKBN1FL5UE
https://www.marketwatch.com/story/beer-industry-lobbies-for-a-marijuana-buzzkill-2016-09-22
https://www.statista.com/statistics/207936/us-total-alcoholic-beverages-sales-since-1990/
https://www.cnbc.com/2018/04/20/the-growth-of-cannabis-culture-could-be-bad-news-for-beer-analyst.html
http://money.cnn.com/2018/01/31/news/marijuana-state-of-the-union/index.html
https://steemit.com/cannabis/@doitvoluntarily/cannabis-could-help-with-alcoholism-and-opioid-addiction-new-study-says
https://www.theguardian.com/us-news/2017/apr/03/big-pharma-marijuana-competition-insys-arizona
https://www.theguardian.com/sustainable-business/2016/oct/22/recreational-marijuana-legalization-big-business
https://steemit.com/cannabis/@doitvoluntarily/majority-of-patients-prefer-cannabis-to-opioids-for-pain-management
http://fortune.com/2017/12/06/legal-marijuana-sales-10-billion/
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As long as it drives the price of beer down it’s sll good!!
humbled by your generosity-thank you kindly-wish you a delightful weekend
Well beer from the US fucking sucks...in Czech that is never going to happen:D more people will combo it:P.
Another great and informative post my friend. I certainly would rather have someone behind the wheel after smoking a joint rather downing six pack of beer. Next time I'm back in the US....I may not recognize the place the way things are changing so fast. lol Keep up the great work my friend! From Buenos Aires Argentina- Dan
Great post @doitvoluntarily ! The people I know that smoke weed , do it all the time on a daily basis , and they still smoke while they drink beer on the weekends with friends ! So they still drink the same as always if they are regular beer drinkers . Others that don't drink much to begin with , would be more likely to stop drinking all together . Party On ! upped and resteemed ! 😂👍🚬🍺
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I wouldn’t think that it would really change much in The extreme... maybe some ppl will seitch but probably not this significant number they are anticipating.
Even at first if a large sum of ppl do initally switch... they’ll be back lol.
alcohol is a totally differnt culture and the “high”
More probably, they will both do just fine and co-exist or... even more probable, they’ll enable each other haha.
Hi doitvoluntarily,
I should start smoking cannabis or start a cannabis business in the state where it is legal.
#cannabis saves lives
Because of the health benefit, people will consider switching. Is same thing as having fun but getting your health in better shape
Sir @ doitvoluntarily Thank You to provide us this article,
and i agree with @aaalfonz comment "I think this might be the champion reason why my country won't even consider De-criminalization of cannabis." Thanks @aaalfonz for good comment.