Around a quarter of beer drinkers in the United States say they’re switching over to marijuana, the magazine Money reported Friday (March 17). The magazine cited research conducted by the Cannabiz Consumer Group that found 27 percent of 40,000 American beer drinkers surveyed last year buy marijuana instead of beer, or suggested they would do so if marijuana were legalized in their states.
The consumer group predicts the U.S. beer industry would stand to lose more than $2 billion in retail sales if marijuana were legalized nationally, positioning the cannabis market to consume just over 7 percent of beer sales, Money reported. Likewise, the cannabis market is poised to capture $50 billion in sales, the consumer group says, buoyed by the roughly 26.4 million Americans who bought marijuana last year. That growth would still trail the U.S. beer market’s more-than $100 billion in annual sales, Money reported.
But marijuana’s potential gains are not guaranteed. After several states legalized marijuana during former President Barack Obama’s tenure, President Donald Trump has signaled he may be less permissive of states’ shifts toward skirting federal law.