The cannabis drinks industry, although still in its budding stages, could potentially impact the US alcohol biz in a big way. And researchers at BDS Analytic explain why…
BDS Analytics, which provides data and market insights for cannabis producers in the US, held an uber-insightful webinar earlier this week dedicated to the intersection of the cannabis and drinks industries.
And during that webinar they noted that ‘in the cannabis market in legal US states, edibles currently make up 15% of sales, while drinks make up just 5%. But not surprisingly BDS projects both numbers will grow, especially the cannabis drink sector…
Lagunitas just announced a new THC infused sparkling water and Two Roots Brewing is expected to begin selling their line of cannabis beer in Nevada mid-July.
And BDS argues that cannabis drinks are the future.. that the alcohol industry needs to be ready …and they emphasized four reasons why.
Core Cannabis And Alcohol Users Share Maturity And Achievement
BDS data indicates that the average cannabis consumer is far older, and far wealthier than you might think.
Counter to the popular stereotype of stoners as 20-something slackers, today’s core cannabis-consumers are upscale, socially active, athletic and creative types. They tend to be in their 40s, own property and hold full-time jobs.
Cannabis And Alcohol Are Socially And Situationally Interchangeable
According to the Drinks Business more than 70% of cannabis users are also drinkers. And Jessica Lukas, BDS Analytics’ Vice President of Consumer insight shared with them that “drinks firms should think carefully about when and why their products are consumed, as these could well be opportunities for cannabis manufacturers to steal the limelight”
“Say you’re sat on the sofa watching Netflix with your partner at home,” Lukas explained,“traditionally you’d see this as an opportunity for a bottle of wine or a beer, but this is where cannabis comes in.”
People Who Add Cannabis To A Night Out Drinking May Drink Less Alcohol
Using the same Netflix analogy Jessica Lukas also suggested “that even enjoying alcohol and cannabis together could lead to a loss in beer and wine sales.”
“Our research shows that 50% of people drink less when imbibing,” Lukas added, “so instead of having three craft beers while watching Netflix, you might have two and a hit on a vape pen, or even just one.”
Some Experts See Cannabis As A Healthier Alternative To Alcohol
Finally, Lukas noted that “the buzz” isn’t the only thing cannabis is known for. It also has proven health benefits, something that alcohol is less commonly credited with.
“People use it to treat their anxiety, they use it for muscle pain…they use it for a lot of holistic reasons that just don’t apply to alcohol.”
Pot Beer Banner Image Credit: Mitchell Maglio