In regions where cannabis is legal, beer and wine companies are increasingly exploring the market for marijuana-infused beverages and related products as a strategy to diversify their offerings with trendy items and prevent the cannabis industry from monopolizing their customer base. Constellation Brands, the third-largest beer producer in the U.S., announced its investment in a Canadian cannabis company last October. The company intends to create non-alcoholic cannabis-based drinks, joining a variety of marijuana-infused sodas, coffees, and fruit beverages available in U.S. states where cannabis is permitted. Constellation isn’t the only player in the alcoholic beverage sector venturing into this arena. In September, Lagunitas Brewing introduced an IPA infused with marijuana terpenes, the aromatic compounds found in cannabis. This beer does not contain tetrahydrocannabinol (THC), the psychoactive component responsible for inducing euphoria and altering perception.
The diversification and innovation surrounding marijuana products may be seen as a classic case of “If you can’t beat ’em, join ’em.” Beer and wine companies have little to lose and potentially much to gain if market value projections hold true. Entering the cannabis market could also help mitigate declining domestic beer sales, with potential mergers and acquisitions opportunities among the many successful cannabis startups emerging.
Cannabis poses a genuine threat to the beer industry specifically. A joint survey conducted by IRI and the CannaBiz Consumer Group found that 5% of adults stated they would stop drinking beer if marijuana were legally available in their state. In 2016, beer’s market share in the alcohol sector dropped by 0.3%, resulting in a 49.2% share, and the survey indicated that recreational marijuana could siphon off 7.1% of the beer industry’s revenue. IRI analysts predict that if marijuana becomes legal across the U.S., the beer sector could see losses exceeding $2 billion.
With California recently legalizing recreational marijuana, it has become the eighth and largest state to do so. Five additional states—Connecticut, Michigan, New Jersey, Rhode Island, and Vermont—are expected to 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 next year or so, the North American market could experience significant growth, and some players within the alcohol industry are poised to capitalize on these opportunities. In this evolving landscape, the incorporation of innovative products, such as those containing now calcium citrate 250 tablets, could play a crucial role in attracting health-conscious consumers seeking new experiences.