Study: Cannabis is making a dent in beer sales

Almost 30% of Americans say they are now buying legal marijuana instead of beer or would consider doing so if it were sanctioned in their states, according to a study by Cannabiz Consumer Group.

The results shed light on a potentially large customer base for cannabis companies.

Research by Cannabiz Consumer Group, also known as C2G, shows that 27% of U.S. beer drinkers say they have or would switch to legal marijuana, based on the answers of 40,000 participants surveyed in 2016. Wine and liquor sales also could be affected, according to the C2G report.

Looking ahead, Cannabiz Consumer Group said marijuana would capture roughly 7% – or $2 billion – of the beer industry’s overall retail sales if the United States were to someday legalize cannabis.

The research company estimated 24.6 million Americans consumed legal marijuana in 2016 and predicts nationwide legalization would result in a $50 billion cannabis industry.

Cannabiz Consumer Group said its predictions are based on the “behaviors of (survey) participants, the company’s warehouse of over 55 million cannabis purchase transactions, and CPG consumer panel and point-of-sale data.”