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Cannabis Consumption Could Cut Into the Wine Industry

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[dropcap class=”kp-dropcap”]A[/dropcap]n April report by New York City-based Rabobank indicates that rising cannabis consumption will have a negative impact on the growth of the wine industry. Out of wine, beer and spirits, Rabobank believes that wine is most likely to be threatened by the rise of cannabis consumption. The report recognized three primary factors that will have a major impact on the trend: Women and older consumers are saying they intend to use more cannabis when it’s legal, a focus on a healthier lifestyle that cannabis fits into, and cannabis being legalized in states with high wine consumption.

A 2017 Marist/Yahoo poll found every demographic group expected an increase in cannabis consumption, with a significant increase in the women and the older, wealthier consumer which happen to be the main demographic groups of the typical wine consumer. Cannabis will also be competing with wine as products for the health-conscious consumer. The Maris/Yahoo poll found 72 percent of consumers believe cannabis is safer than alcohol, and around 75 percent of wine consumers believe wine is safer than other alcoholic beverages.

The average per-capita wine consumption in states with legal cannabis is 13.4 liters of wine while states without legalized recreational use consume 8.2 liters, and over 30 percent of wine in the United States is consumed in states with legal cannabis. Cannabis won’t be replacing wine during dinners, but cannabis is aiming to replace wine in social settings and in times of winding down and relaxing. Cannabis-infused edibles can be brought to a party instead of a bottle of wine, and a joint or a vape could replace the glass of wine after a long day.

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