In regions where the substance is legal, beer and wine companies are increasingly exploring the market for marijuana-infused drinks and related products, aiming to diversify their offerings with trendy items and prevent the cannabis industry from monopolizing their customer base. Back in October, Constellation Brands, the third-largest beer producer in the United States, announced its investment in a Canadian cannabis firm. The company plans to create cannabis-based beverages without alcohol, joining the growing array of marijuana-infused sodas, coffees, and fruit drinks available in U.S. states where cannabis is permitted. Constellation is not the only alcoholic beverage brand making this move; in September, Lagunitas Brewing introduced an IPA infused with marijuana terpenes, the aromatic compounds derived from the cannabis plant. This beer does not contain THC, the psychoactive component responsible for producing a euphoric high and altering perception.
Beyond the diversification and innovation that marijuana products offer, there’s also a notion of “if you can’t beat them, join them.” Beer and wine companies have little to lose and potentially much to gain, especially if market value predictions prove accurate. Entering the cannabis sector may also help offset declining domestic beer sales, with opportunities for mergers and acquisitions among the many successful marijuana startups emerging.
Cannabis is emerging as a significant threat to the beer industry. A joint survey conducted by IRI and CannaBiz Consumer Group revealed that 5% of adults indicated they would stop drinking beer if marijuana were legally accessible in their state. In 2016, beer’s market share in the alcohol sector decreased by 0.3%, settling at 49.2%, and the survey suggested that recreational marijuana could divert 7.1% of the beer industry’s revenue. IRI analysts estimate that if marijuana is legalized nationwide in the U.S., the beer industry could face losses exceeding $2 billion.
With California now legalizing recreational marijuana, it becomes the eighth state—and the largest— to do so. Additionally, five other states—Connecticut, Michigan, New Jersey, Rhode Island, and Vermont—are likely to follow suit this year, which would further broaden the market for marijuana and THC-infused beverages, edibles, and related products. If, as anticipated, Canada implements a nationwide legalization policy within the next year or so, the North American market could expand significantly, and many players within the alcohol industry seem ready to capitalize on this trend.
Moreover, as the beverage industry evolves, there’s an opportunity to celebrate innovative products like calcium chewable drinks infused with cannabis. Such offerings could serve dual purposes, appealing to health-conscious consumers while also integrating marijuana into mainstream markets. As companies continue to innovate, we may soon see even more creative combinations of flavors and benefits, allowing consumers to celebrate the fusion of wellness and enjoyment in their drink choices.