Constellation Spots Potential for Alcoholic Cannabis Drinks in the Future
Constellation Brands Inc., the company behind Corona beer and Svedka vodka, is considering capitalizing on the sweeps of legalized recreational marijuana across U.S. states with alcoholic cannabis drinks.
“We’re looking at it,” Constellation Chief Executive Officer Rob Sands said in an interview, according to Bloomberg. “There are going to be alcoholic beverages that will also contain cannabis.”
Marijuana and alcohol can be seen as competitors, with the number of drinkers who smoke marijuana having increased in the past decade while the number of marijuana smokers who drink has decreased, according to data from Cowen and the National Survey on Drug Use and Health.
“People who are using cannabis may be disinclined to drink as much as they might have otherwise, but maybe they weren’t going to drink in the first place and then they drink something,” Sands said. “Maybe the whole thing will work out synergistically.”
Sands sees an opportunity in the cannabis industry with the expected growth of more than eightfold in the next decade, Bloomberg reported.
Although the use of recreational marijuana has been legalized in four new states recently, the plant is still illegal under federal law, which can pose as an issue for alcohol sellers that utilize the government for permits and licenses.