According to a new report from one of the top analytical firms, the legal Marijuana industry is emerging to become one of the biggest threats to the multi-billion dollar business of alcoholic beverages.
The leading source of information and intelligence on the alcoholic beverage market –the IWSR said that the number of consumers is growing, especially among millennial as they are showing a great preference on consuming both booze and buds, versus the old generation that apparently sticks to just one. By and large the ones in the beer and spirits are being threatened by long-term loyalty efforts of the beverage makers.
The vice-president Jessica Lukas at BDS Analytics stated that according to researches up to 40% of adults age 21 and over is consuming cannabis in states where it is legal. Substantial opportunities are being presented by cannabis across industries that include new occasions that alcohol cannot and will not play. Consumers are looking out for cannabis over alcohol on occasions when they feel creative, a need to get motivated, or seeking help for health or medical wellness benefits.
The ISWR is warning the makers of adult beverages to take note about the shifting demands of the consumers in order to avoid trouble down the road.
