Weed is making the beer industry paranoid
The beer industry is keeping close tabs on the growth of legalized marijuana in the US, and for good reason: The cannabis industry is gunning to displace alcohol as a safer and healthier alternative.
Beer already competes with wine and liquor for what some analysts cutely refer to as “share of buzz,” but with recreational use of marijuana legalized in four US states—and as many as six voting in 2016 on whether to join them—competition stands to toughen.
Marijuana sales have been on the rise, though are still dwarfed by beer, which brings in more than $101 billion annually. In 2014, marijuana sales clocked in at $2.7 billion, a 74% increase from 2013. By 2019, sales are estimated to increase to $10.8 billion, according to Nomura.
Analysts with Nomura attended the Beer Industry Summit this week (Jan. 25 and 26) in New Orleans, and report that the rise...
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