Cannabis drinks are the latest “trend” in cannabis consumption methods. But are cannabis drinks just a trend? The research says “no.” In 2023, the global cannabis beverage market size was estimated to be 1.16 billion US dollars. From 2024, the market is expected to grow at a CAGR of 19.2 percent to reach $3.8 billion by 2030.

So, what’s driving the increase in cannabis-infused beverage consumption? Today’s consumers are increasingly health conscious and wary of the materials they put into their bodies. For example, only 62 percent adults under 35 drink alcohol. This figure is down from 72 percent just two decades ago.

In fact, cannabis use as a whole is increasing. A study from 2022 found that 17.7 million people reported using marijuana daily or almost daily. Meanwhile, 14.7 million people reported drinking at the same frequency.

It seems the scales are tipping toward cannabis use and away from alcohol. And yes, Big Alcohol feels threatened. A recent Marijuana Timing Article says Big Alcohol is seeing declining wine and spirits sales – in 2023 alone, total U.S. alcoholic beverage volumes decreased by 3 percent.

For what? This decline is partly due to the fact that consumers are choosing to live without alcohol (45 percent of millennials now require non-alcoholic products) and increased consumer access to legal cannabis, including cannabis-infused beverages.

So it’s no surprise that Big Alcohol is looking to enter the cannabis beverage market. For example, The Boston Beer Company, which owns the Samuel Adams Boston Lager, Twisted Tea, Truly hard seltzer and Angry Orchard brands, has already entered the cannabis beverage market. In 2022, The Boston Beer Company presented its TeaPot Cannabis Infused Iced Teas in Canada.

As cannabis legalization becomes more widespread in the United States, we can only expect to see new Big Alcohol companies enter the cannabis beverage market to diversify their revenues and offset the loss of profits from the decline. alcohol sales.

The real question is: Is Big Alcohol’s push into cannabis drinks a sign of progress or a potential problem?

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Here’s what we know: Having big booze in the corner of cannabis-infused drinks can help normalize cannabis consumption. It can also provide cannabis beverages to a wider audience and better distribution channels. Even Total Wine & More, an American alcohol retailer, is partnership with cannabis brands to sell infused seltzers. Big Alcohol’s involvement could also push for clearer and safer regulation of cannabis products.

All of the above would of course be great. But what would happen to small cannabis brands that are gradually making a name for themselves in the industry? Would Big Alcohol buy them out and take over the cannabis beverage industry? Would alcohol moguls sweep up these small cannabis brands and make them disappear, intentionally or not?

Other concerns include that Big Alcohol prioritizes profit over quality and that if they begin to dominate the cannabis beverage sector, infused beverages could become watered down and even less effective. Not to mention, the additives Big Alcohol adds to wine, beer, and other spirits are far from healthy. In fact, alcoholic beverages are known to “contain a variety of carcinogenic contaminants which are introduced during fermentation and production, such as nitrosamines, asbestos fibers, phenols and hydrocarbons.

Is this the future we want for cannabis users?

These are the concerns expressed by many cannabis industry executives today. Monica Olano, founder and CEO of Cali Sober Mom and cannabis reform advocate, was quoted in the Cannabis Regulator article: “Cannabis companies are selling out to big booze“, stating: “Studies have shown that alcohol brands use additives linked to cancer in their products. Are we going to let the hemp and cannabis industry sell out to (Big Alcohol) and potentially taint our wellness product with harmful additives? This would erase a lot of the hard work the industry has done to create safer and healthier alternatives to alcohol, with a focus on wellness.

So what’s the answer to the question: Is Big Alcohol’s push into cannabis drinks more progress or a problem?

Here’s the deal. Big Alcohol’s role in the cannabis beverage market will provide both opportunities And challenges. What consumers need to be wary of when purchasing cannabis-infused drinks are the ingredients, especially as more alcohol leaders jump into the cannabis industry. If you want to treat yourself to a cannabis seltzer for the wellness benefits, make sure there are no harmful additives in the drink you choose.

As leaders in the cannabis industry, it is important to voice your concerns, but also be open to the possibility of Big Alcohol entering the cannabis market. Look for ways to collaborate rather than dominate or be dominated.

In the coming years, I expect to see major alcohol brands partnering with small and medium-sized cannabis companies to create cannabis products on a large scale. The best-case scenario is that these industries come together to respond literally to consumer demand and health concerns.