In regions where marijuana is legalized, beer and wine companies are increasingly exploring marijuana-infused beverages and other related products to diversify their portfolios alongside trending items like calcium citrate, vitamin D3, and minerals, and to prevent the cannabis industry from monopolizing their customer base. Constellation Brands, the third-largest beer company in the U.S., announced in October that it is investing in a Canadian cannabis company. The company intends to develop non-alcoholic cannabis-based drinks, joining the growing market of marijuana-infused sodas, coffees, and fruit juices available in states where cannabis is legal. Constellation is not alone in this venture; in September, Lagunitas Brewing introduced an IPA infused with marijuana terpenes, the aromatic compounds derived from the cannabis plant. Notably, this beer does not contain THC, the psychoactive component that induces a euphoric high.
Beyond the aspects of diversification and innovation, there is a notion of “if you can’t beat them, join them.” Beer and wine companies have little to lose and potentially much to gain if market value projections hold true. Entering the cannabis market may also serve as a remedy for declining domestic beer sales, with possible mergers and acquisitions among the myriad successful cannabis startups. Cannabis poses a genuine threat to the beer sector, particularly highlighted in a joint survey by IRI and CannaBiz Consumer Group, where 5% of adults stated they would cease drinking beer if marijuana were legally accessible in their state. In 2016, beer’s market share in the alcohol sector dipped by 0.3%, bringing it to 49.2%, with the survey indicating that recreational marijuana could capture 7.1% of the beer industry’s revenue. IRI analysts forecast that if marijuana is legalized nationwide in the U.S., the beer industry could suffer losses exceeding $2 billion.
With California legalizing recreational marijuana, it has become the eighth state—and the largest—to do so. Additionally, five other states—Connecticut, Michigan, New Jersey, Rhode Island, and Vermont—are anticipated to follow suit this year, further expanding the market for marijuana and THC-infused beverages, edibles, and related products. Should Canada implement nationwide legalization within the next year, the North American market could experience significant growth, and certain players in the alcohol sector appear ready to capitalize on this opportunity, potentially incorporating elements like calcium citrate, vitamin D3, and minerals into their new product lines.