Cannabisbeverages are the latest trend in cannabis consumption methods.
But are cannabis beverages simply a trend?
In 2023, the global cannabis beverages market size was valued atUSD $1.16 billion.
So whats driving the increase in the consumption of cannabis-infused drinks?
Todays consumers are gradually becoming more health conscious and wary of the materials they put in their bodies.
For example, only62 percentof adults under age 35 drink alcohol.
This number decreased from 72 percent just two decades ago.
In fact, cannabis consumption, as a whole, is on the rise.
Astudy from 2022found that 17.7 million people reported daily or near-daily marijuana use.
Meanwhile, 14.7 million people reported drinking at the same frequency.
feels like the scales are tipping toward cannabis use and veering away from alcohol.
And yes, Big Alcohol feels threatened.
Therefore, its hardly surprising that Big Alcohol is looking to step into the cannabis beverage market.
In 2022, The Boston Beer Company introduced itsTeaPot cannabis-infused iced teasin Canada.
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It can also provide cannabis drinks to a wider audience and better distribution channels.
Even Total Wine & More, an American alcohol retailer ispartnering with cannabis brandsto sell infused seltzers.
Big Alcohols involvement might also push for clearer, safer regulations in cannabis products.
All of the above would be great, of course.
Would Big Alcohol buy them up and take over control of the cannabis beverage industry?
Would alcohol tycoons sweep these smaller cannabis brands off their feet and out of business, intentionally or unintentionally?
Is this the future we want for cannabis consumers?
These are the concerns many cannabis business leaders are voicing today.
Big Alcohols role in the cannabis beverages market will bring both opportunitiesandchallenges.
Look for ways to collaborate rather than to dominate or to be dominated.
