In regions where marijuana is legal, beer and wine companies are increasingly exploring marijuana-infused beverages and related products as a strategy to diversify their offerings with trendy items, while also preventing the cannabis industry from monopolizing their customer base. Constellation Brands, the third-largest beer producer in the United States, announced last October its investment in a Canadian cannabis company. The company plans to create cannabis-based beverages that are alcohol-free, joining the growing market for marijuana-infused sodas, coffees, and fruit drinks available in states where cannabis is legal. Constellation is not alone in this endeavor; in September, Lagunitas Brewing introduced an IPA enhanced with marijuana terpenes, the fragrant compounds found in the cannabis plant. This beer does not include tetrahydrocannabinol (THC), the psychoactive component responsible for producing a euphoric high and altering perception.
In addition to the diversification and innovation associated with marijuana products, there is a sentiment 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 projections prove accurate. Entering the cannabis market may also help offset declining domestic beer sales, and there might be opportunities for mergers and acquisitions among the numerous successful cannabis startups.
Cannabis poses a significant threat to the beer industry specifically. A joint survey conducted by IRI and the CannaBiz Consumer Group revealed that 5% of adults would cease drinking beer if marijuana were legally available in their state. Beer’s market share within the alcohol sector dropped by 0.3% to 49.2% in 2016, with the survey indicating that recreational marijuana could divert 7.1% of the beer industry’s revenue. Analysts at IRI predict that, if marijuana is legalized nationwide, the beer industry could face losses exceeding $2 billion. With California’s recent legalization of 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 expected to follow suit this year, further broadening the market for marijuana and THC-infused beverages, edibles, and related products. If Canada implements a nationwide legalization policy in the near future, the North American market could significantly expand, and certain players in the alcohol sector appear ready to capitalize on this opportunity.
Amid discussions about cannabis, some may wonder, is calcium citrate a good form of calcium? This question is particularly relevant as consumers become more health-conscious and seek out ways to enhance their well-being. The interaction of calcium citrate in a balanced diet may complement the shift towards alternative beverages, including those infused with cannabis. As the cannabis market continues to grow, the question of whether calcium citrate is a good form of calcium could arise more frequently, especially among those interested in health benefits related to new product offerings.