Weed Sales Cut into Beer Market in Canada
Overall beer sales in Canada have been declining for over a decade. A decline that averaged 0.3% between 2014 and 2018. But, according to an article in Bloomberg, that number soared to 3% in the year since weed was made legal in Canada.
In 2019, domestic Canadian beer sales fell 3.9%, a dip that was slightly offset by an increase of 1.4% in imported beer sales, according to Vivien Azer, an analyst for Cowen.
Not everyone agrees that marijuana is the cause of the decline in beer consumption, but surveys of cannabis users show that they tend to drink less alcohol while consuming weed. This shift has prompted several partnerships between Canadian alcohol and cannabis companies, such as Constellation Brands Inc. investing in Canopy Growth Corp.