Dank Or Drank: Can Alcohol Hang On With Cannabis Legalization?

Article by Canna Lance, Cannabis Life Network

You might hear people say that if cannabis is legalized, alcohol will suffer tremendously. Some think people will choose to consume cannabis vs. alcohol simply for the health benefits. With cannabis legalization cultivating momentum across North America, I guess it’s about time to find out.

Wait, medical cannabis has been legal in California for 22 years and in Canada for 17. Did the alcohol industry suffer there because of this? Now that cannabis is legal in Canada and readily available, did Canadians quit drinking?

With cannabis legal in Las Vegas, Nevada, everyone must be smoking pot and eating edibles instead of drinking, right?

These would all be great assumptions. Only, that isn’t what seems to be happening.

Examining Alcohol and Cannabis Stats

In 2016, Canadians spent roughly $22.1 billion on alcohol. In 2017, according to Stats Canada, Canadians spent $5.7 billion on cannabis. It would seem, that by these stats, alcohol still has nothing to worry about in Canada. It’s not just Canada that still loves booze, folks in the U.S. can’t get enough of the stuff either.

Per data reviewed by Park Street, the largest markets for alcohol in the U.S. are New York, Florida, and yes, wait for it…California. I would have thought Texas would have made it due to the size of the state alone. Alcoholic beverages account for 60% of the revenues, $211.6 bn in sales from the U.S. beverage market, which is a $354.2bn industry!

Read the full article here.