Report: More Beer Drinkers Are Swapping Brew for Pot
The growing legalization of recreational cannabis across the United States could be cutting into some alcohol sales, as more and more beer drinkers say they’re switching to pot—or will switch once it’s legalized.
The new research comes from Cannabiz Consumer Group, which surveyed 40,000 Americans last year. It found that 27% of beer drinkers had either swapped their ale for marijuana, or were considering it pending legalization.
Cannabiz Consumer Group expects the cannabis industry to grow to $50 billion. That’s still a drop in the bucket compared to beer sales, which average $100 billion each year. If marijuana were legalized on a national scale, the group estimates a $2 billion hit to the beer industry, with cannabis taking just over 7% of the beer market.