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

[doitvoluntarily]

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.

Millions of people have already opted to try cannabis over their opioid prescription medications, and a large majority of them have also been shown to favor switching to cannabis over their beer drinking, according to various surveys and research into this topic.

One previous estimate suggested that roughly 1 in 4 beer drinkers in the U.S. might be considering making the permanent switch to cannabis.

Previous research has also indicated that cannabis could be used as an effective “exit drug” by enabling people to get away from their opioid addiction and alcoholism and instead turn to something that can help them reduce the use of those substance.

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.

It's estimated that the cannabis industry is worth somewhere around $50 billion at the moment.

For the cannabis industry in the U.S., national sales are expected to surpass $70 billion within a few more years. Compare that to the annual alcohol beverage sales which are estimated to be hundreds of millions of dollars every year.

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.

For the drinkers who do start to consume cannabis, it's suggested that about 80 percent of them eventually then move to reduce their alcohol consumption at some point.

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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Comments

[grizgal]

As long as it drives the price of beer down it’s sll good!!

[allthereisislove]

humbled by your generosity-thank you kindly-wish you a delightful weekend

[fingersik]

Well beer from the US fucking sucks...in Czech that is never going to happen:D more people will combo it:P.

[karenmckersie]

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 ! 😂👍🚬🍺

[jaybird]

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.

[hanamana]

Hi doitvoluntarily,

I should start smoking cannabis or start a cannabis business in the state where it is legal.

[banditqueen]

#cannabis saves lives

[aaalfonz]

I think this might be the champion reason why my country won't even consider De-criminalization of cannabis.

[sabbir1213]

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.

[yungchief]

Because of the health benefit, people will consider switching. Is same thing as having fun but getting your health in better shape

[kalpona]

Currently, due to cigarette disease, cigarette packets contain cigarette packets, smoking is also harmful for healthy people. Despite being warned every day, people cigarettes, vintage, gaza, and many other sheep. There is no fault in the company of the fault man. @kalpona never forget you. please please back follow @doitvoluntarily.

[chelsea88]

The only chance these alcohol places will have is also selling cannabis

[souravpaul]

Cannabis validation of the many people addicted to be put on the cannabis good direction that there are many bad side have marijuana is a liquor once this liquor if without very hard, and expected life all beer drinkers ,,

[binkyprod]

For someone who has a drinking habit, this could be a good thing. For those who drink very little beer, it shouldn't change their beer consumption much.

I don't smoke anything and I don't drink beer, so I wouldn'T be abel to base myself on me, let's just say lol

Is it that it reduces alcohol intake, the desire to drink alcohol, including hard liquors or spirits? Or just beer because beer has certain properties other alcohol does not have?

[cryptoj215]

Cant wait till weed is legal and alcohol is illegal

[roonyy]

if cannabis is legal, how about the kids ?

[stadex]

I don't think that ganja is a big threat to beer. If anything many ganja smokers also love to drink a cold beer. So there might even be a slight increase in beer sales.

[nisaac86]

With the legalization, i hope there is better education.

What I mean is that people are smoking or eating marijuana and only masking the problem.

In the end it's the same thing with the prescription drugs.

Yes it is a better option, but let people know that masking the problem is not a good option for long term.

What do you think?