
When it comes to alternatives for alcohol, Americans are increasingly turning to cannabis. A recent survey conducted by Bloomberg Intelligence (BI) reveals a 'sudden spike' in the use of cannabis in place of alcohol during 2024. The substitution of marijuana for alcohol was cited by 44% of respondents, a stark increase from the 33% that reported doing so in 2022.
The surging popularity of marijuana over the past few years can be attributed to its legalization in multiple states, and the shift in public opinion on the relative harm of cannabis compared to other substances. As per the survey, this trend is putting pressure on alcoholic beverage producers, compelling more and more large consumer-products companies to invest in the cannabis industry.
Interestingly, while marijuana is increasingly being used as an alternative for alcohol, the substitution of cannabis for cigarettes and painkillers saw a slight dip in 2024 compared to 2022. However, the overall trend towards marijuana consumption doesn't seem to be slowing down. In fact, a separate analysis from September by BI indicates that the expanding marijuana legalization movement poses a 'significant threat' to the alcohol industry.
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The shifting preferences towards marijuana over alcohol aren't exclusive to the United States. In Canada, where marijuana is federally legal, a decline in beer sales was noted post-legalization, suggesting a similar substitution effect.
Meanwhile, American attitudes towards marijuana versus alcohol are changing as well. Surveys by Gallup and the American Psychiatric Association (APA) found that respondents viewed cannabis as less dangerous than alcohol, cigarettes and opioids. More adults are now using cannabis than smoking cigarettes and a larger chunk of Americans smoke cannabis daily than drink alcohol.
As the consumption patterns shift, the potential uses of marijuana are expanding beyond just an alcohol alternative. Recent studies suggest that marijuana could be used to treat opioid use disorder. The transition to marijuana use could significantly decrease opioid overdoses and add to the growing body of evidence supporting marijuana for harm reduction.
With the steady march towards legalization and growing acceptance of marijuana, its usage as an alternative to alcohol and other substances is likely to surge in the coming years. The evolving cannabis industry and consumer preferences will continue to shape the market for both alcohol and marijuana.