Surging Cannabis Use Drags Down Beer Sales To Its Lowest Ebb, Says Top Analyst [Forbes]
Constellation Brands, Inc. (STZ)
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Source: Forbes
Surging Cannabis Use Drags Down Beer Sales To Its Lowest Ebb, Says Top Analyst In her 2019 outlook for the legal cannabis industry, top analyst Vivien Azer Unfortunately for beer brewers, it doesn’t look like 2019 will be any better. Says Azer: “As we look ahead to 2019, with more medical and adult use cannabis markets coming online (e.g., Massachusetts, Ohio West Virginia, North Dakota among others), we would expect another challenged year for beer, driven by cannabis substitution.” No wonder Corona beer brewer Constellation Brands was so bullish about investing $4 billion The rising cannabis use is causing a commensurate drop in beer sales. (Getty) Speaking earlier this week to journalists in a special confab where she held forth on her 2019 prognostications for the legal marijuana industry, Azer made other very cogent points. She upgraded her 2030 forecast for U.S. cannabis sales to $80 billion, a leap from $75 billion. “Our increased confidence reflects the bigger than expected i
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