- Dec 2013
- Beware of watermelons
With over half of the country’s states embracing some form of legalized marijuana, with a few states even permitting recreational use, cannabis is poised to affect the alcohol industry at some point. And according to a new study, the beer industry stands to lose billions if marijuana is legalized nationwide.
The study states, “Cannabiz Consumer Group’s (C2G) research findings predict that legal marijuana will “canna-balize” 7.1% of revenues from the existing retail beer industry.” Even though the revenue margin may seem small to some, the profit losses are predicted to exceed 2 billion dollars.
And while the research attempts to predict what will happen when and if weed is legal nationwide, many alcohol consumers are already making the switch over to marijuana. The study writes, “Twenty-seven percent (27%) of beer drinkers state that they already have substituted cannabis for beer, or would substitute their beer retail purchases with cannabis in the future if legal.”
There’s no shortage of pot smokers either. The study proclaims, “There were 24.6 million legal cannabis consumers in the US in 2016.” And while beer, wine, and, liquor sales will certainly be affected by the nationwide legalization of weed, “C2G’s projects that legal cannabis penetration will settle at a level comparable to that of beer and wine and that a fully mature market would create a new $50 billion industry.” Fifty billion dollars is nothing to shake a stick at, so to speak.
“The forecasts were generated using C2G’s CannaUse™ study on the cannabis mindset and behaviors of 40K individual participants, the company’s warehouse of over 55MM cannabis purchase transactions, and CPG consumer panel and point-of-sale data sourced from IRI through an exclusive data and analytic share arrangement,” the study writes.
Read more at Alcohol Industry Frantically Lobbies Against Legal Weed as Beer Sales Predict $2 Billion Drop
Information like this needs to be in the hands of every American. How so many major corporations are not only against but afraid of a simple little plant. It literally symbolizes Liberty. The fact that with a very small investment and no extra land the people can cultivate a "product" that rivials that of big booze and big pharma and can almost replace them both.
Simple moves like the freeing of the weed and the removal of drug patent laws will place so much more back into the hands of the people and out of the masters. Knowladge is power.