Cannabis Industry

It has recently come to the attention of businesses that millennials do not drink as much as Gen Xers do, and the cannabis industry sees an open market. As major alcohol brands, such as Guinness, Budweiser, and even Heineken, have been creating beer with little to no alcohol to attract this market, there is yet still another opportunity out there.

The CDC analyzed data recently showing that binge drinking is on a rapid decline while first-use cannabis rates are on a steep incline. Cannabis is only legal in a handful of American states but has been fully legalized in Canada, and the impact on the alcohol industry has become apparent.

Cannabis-infused beverages are also coming into the market but at a slow pace, showing that they have not been as popular as other cannabis options up until this point. But with the drop in alcohol consumption, brewers who are best-known for beers are going to be tackling the cannabis-infused marketplace. Their production is expected to increase heavily throughout 2020.

There is still a difficulty here, however. The interaction of cannabis and alcohol is a delicate type of science, and getting the dosage and response timings perfect is not straightforward. Already, digesting cannabis has a different effect than smoking it, and it is more complicated when combined with alcohol. Inhaling cannabis has a fast, predictable effect that recedes at a predictable pace. Alcohol has a similar reaction. Digesting cannabis is slower to bring on effects and slower to leave the body, adding a bigger risk of overconsumption since the effect will not be apparent for some time.

As the industry tangos with this new concept, we will just have to wait and see what the alcohol industry will try to do to recover from this unprecedented dip in sales.

~Source: With Alcohol Consumption Down Among Millennials, Big Businesses See Opportunities for THC-Infused Beverages

  Posted: Thursday, February 6th, 1:00pm 20 days ago

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