As the legal cannabis industry in the US is on track to rake in more than $46 billion Going into 2026, many in the alcohol and beverage industry see the cannabis industry as a unique opportunity to expand and reach new consumers, although there are just as many uneasy about the impact this could have on alcohol sales.
Alcohol vs Cannabis — It’s all ok
Roy BinhamCo-founder and CEO of BDSA, said there is no need to worry, coexistence is the trend these days. BDSA is the leading provider of market research solutions to the global cannabinoid industry.
“Today, more consumers than ever are combining cannabis with alcohol, especially when relaxing or hanging out with friends,” Bingham said said.
Use of cannabis by alcohol users is increasing according to BDSA’s Consumer Insights data, but consumer attitudes also show that the opportunities for use of alcohol and cannabis are so different The perceived threat to alcohol sales from legal cannabis is low. There has been a significant increase in the number of cannabis users who report using cannabis with certain types of alcohol.
“We’ve also seen an increase in unexpected use opportunities as consumers branch out and use cannabis in new ways, e.g. B. when enjoying fine cuisine or during training. This shift presents a unique opportunity for brands to focus on innovation and create new products for these diverse uses,” Binham said Benzinga.
Additional BDSA findings show that cannabis and alcohol go well together:
The proportion of consumers in the adult markets who report combining cannabis with spirits or spirits increased from 12% in spring 2018 to 22% in spring 2022, while the proportion reporting cannabis with cocktails doubled in spring 2022 totaled 20%.
High-energy social occasions such as pub nights, special events and date nights pose a lower risk of cannabis impacting alcohol sales, while use for health/wellness, creative endeavors and certain outdoor activities…