Prominent drink groups rely on cannabis
Countries such as the United States and Canada have recorded low sales of alcohol following the legalization of cannabis. Several global players such as Pernod Ricard and Heineken are seeking to enter this market.
To introduce marijuana into this market, Constellation Brands closed a deal in August 2018 with Canopy Growth, a Canadian marijuana producer. They invested a total of 4 billion dollars to acquire a stake in the company.
In 2018, industry players expected that non-alcoholic beverages made with cannabis infusion represent at least 20% of the legal market.
In the United States, on the other hand, the market is worth 200 million dollars. Heineken, on the other hand, launched a carbonated cannabis-based drink in California. Molson Coors also teamed up with another Canadian producer to develop a new cannabis beverage.
Pernod Ricard keeps an eye on this market. In 2018, Alexandre Ricard told the daily Le Monde, “There is a real question to be asked. Can the legalisation of cannabis have a cannibalising effect on the consumption of high quality spirits? There is no evidence that this is the case. We remain cautious and continue our analysis.
Don’t drink and drive. Enjoy responsibly.
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