Legal pot takes a bite out of beer consumption in Canada

Smoke more, drink less.

That appeared to be the trend among Canadians in the first full year of legal cannabis, when beer volumes fell by three per cent through November, according to data from Beer Canada.

“This is far worse than the trends seen between 2014-2018, where beer industry volumes fell an average 0.3 per cent,” and appears to be related to Canada’s legalization of pot in late 2018, said Cowen analyst Vivien Azer.

Domestic beer volumes slid 3.9 per cent through November, while imported beer volumes grew 1.4 per cent. Cannabis consumers appear to prefer mainstream beer “as they pursue better ‘buzz for your buck,”’ Azer said in a note published Tuesday.

By Kristine Owram, Bloomberg News
Read More Here: www.bnnbloomberg.ca/legal-pot-takes-a-bite-out-of-beer-consumption-in-canada-1.1370298

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