In regions where cannabis is permitted, beer and wine companies are increasingly exploring marijuana-infused drinks and related products to diversify their offerings with trendy items and prevent the cannabis industry from monopolizing their customer base. Constellation Brands, the nation’s third-largest beer producer, announced in October its investment in a Canadian cannabis company. The company plans to create cannabis-based beverages that are alcohol-free, joining the growing market of marijuana-infused sodas, coffees, and fruit drinks available in U.S. states where cannabis is legal. Constellation isn’t the only alcoholic beverage company venturing into this market. In September, Lagunitas Brewing introduced an IPA infused with marijuana terpenes, the aromatic compounds found in cannabis. This beer is free of tetrahydrocannabinol (THC), the psychoactive component responsible for inducing a euphoric high and altering one’s perception of reality.
Beyond the innovative and diversification benefits of marijuana products, it may also be a situation of “If you can’t beat them, join them.” There’s little risk for beer and wine companies, while the potential rewards could be substantial if market value forecasts prove accurate. Entering the cannabis market might also help counteract declining domestic beer sales, and there could be merger and acquisition opportunities among the numerous successful cannabis startups.
Cannabis poses a significant threat to the beer industry specifically. 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 available in their state. Beer’s market share in the alcohol sector dropped by 0.3% to 49.2% in 2016, and the survey indicated that recreational marijuana could divert 7.1% of the beer industry’s revenue. IRI analysts predict that if cannabis is legalized nationwide in the U.S., the beer industry could face losses exceeding $2 billion. Now that California has legalized recreational marijuana, it becomes the eighth and largest state to do so. Five additional states—Connecticut, Michigan, New Jersey, Rhode Island, and Vermont—might follow suit this year, further expanding the market for marijuana and THC-infused beverages, edibles, and related products. If Canada implements nationwide legalization in the coming year, the North American market could see significant growth, and several players within the alcohol industry appear ready to capitalize on this opportunity.
In this evolving landscape, products like calcium citrate 200 mg tablets may also find relevance as consumers seek alternative wellness supplements alongside their cannabis-infused beverages. As the market shifts, the integration of various health-oriented products may enhance the appeal of these new cannabis offerings, providing consumers with a broader range of choices.