With the legalization of cannabis by 29 states and Washington, D.C., for medicinal purposes, the day when the drug will be available legally across the country seems not too far. In fact, the government is steadily diminishing control over the drug in other sectors and industries in the U.S.
The country allows nine states to sell cannabis-based drinks in their region, which signals the rise of another multi-billion dollar sector. According to the advocates of the above measure, the legalization of cannabis drinks will prove a great disruptor by emerging as one of the biggest threats to the alcohol industry in the U.S.
Cowen, a diversified financial services firm in the U.S., corroborated the above fact by stating that alcohol consumption declines among 80 percent of people upon the use of cannabis. Other studies also indicate a marked reduction in illicit market due to the legalization of cannabis drinks. It will be interesting to note other impacts of cannabis drinks. Despite all benefits, one need to keep in mind the fact that cannabis taken in any form is dangerous for health. It is necessary to know the psychoactive properties and ingredients of such drinks before consumption.
Sales of cannabis set to rise
The use of cannabis for both medicinal and recreational purposes has seen a major rise over the last few years. This trend is expected to continue for the next few years due to the increased spending on the production of cannabis in North America. According to a statistics shared by the Arcview Market Research, the spending on legal cannabis that was worth $9.7 billion in 2017 is set to reach $24.5 billion by 2021 due to a growth rate of 30 percent every year.
Euromonitor, a business intelligence company based in the United Kingdom, states that the growth in cannabis industry could be fourfold. Spiros Malandrakis, an analyst from Euromonitor, postulates that, “cannabis industry will soon become a much greater disruptor than the once ignored craft segment ever was.”
Cannabis-infused drinks enter the market
House of Jane, one of the leading cannabis players in the U.S., has already entered the market with its exclusive range of “cannabis-infused” coffees and tea drinks. Claiming itself to be “the Starbucks of cannabis”, it also believes that the cannabis drinks has the potential to offer a $48 billion market.
The U.S. drinks industry has faced its own share of upheavals. However, this is the first time that a newly entered product in the market is threatening the entire drink industry. Due to the accessibility of cannabis drinks, people are hopping to bars and stores comparatively less frequently than before.
Many bars have decided to fight this new trouble by introducing cannabis-based drinks in their menu. For instance, the bartenders in the U.S. have now started serving their own cannabis-infused drinks. They are also focusing on introducing drinks made using cannabis extract, cannabidiol (CBD), bought easily from the local food shops and known for the absence of “psychoactive” properties.
Moreover, manufacturers have begun the process of creating their own cannabis-infused drinks, such as cannabis-style vodka and cannabis-infused beers, which are already in demand. Other products like cannabis-based snacks and soft drinks are becoming part of the mainstream market.
What’s more interesting to notice is that these drinks can also be customized to offer the kind of experience one is looking for.
Dealing with addiction
The legalization of cannabis-infused drinks does not reduce the potency of marijuana to harm the mental and physical health of a person. It is, therefore, important to understand that monitoring its use is essential. Considering the fact that cannabis drinks will decrease alcohol industry, it looks a great opportunity for the people suffering from alcoholism to reform. Anyone can develop an addiction to alcohol and drugs. Therefore, one must stay vigilant and develop healthy habits to avoid the repercussions related to cannabis.
If someone is already addicted to alcohol and looking for alcohol rehab centers in Florida, contact the Florida Alcohol Addiction Helpline for assistance. Call our 24/7 alcohol addiction helpline 866-220-5381 or chat online with one of our experts to get the complete details about the best alcohol treatment centers in Florida.