Are cannabis drinks hindering alcohol sales?

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A fascinating new trend is making waves in bars across the United States, and it’s poised to have a significant impact on the spirits industry, as per Jon Taffer, the host of “Bar Rescue.”

Cannabis-infused beverages are becoming increasingly popular as a substitute for consumers who are embracing a lifestyle free of alcohol. While it’s still too early to determine the exact effects on the market, Taffer confidently states that it is definitely shaking up the industry.

“There’s a clear trend in this direction… And there’s no doubt that cannabis is influencing the spirits industry,” Taffer mentioned during an appearance on “Varney & Co.”

CBD-infused drinks are a rapidly growing category, with cannabidiol products generating $5.3 billion in 2021 and projected to reach $16 billion by 2026, according to Statista.

This year, the cannabis market in the U.S. is expected to surpass $45 billion.

However, Taffer pointed out a significant obstacle, noting that many states do not allow the sale of alcohol and cannabis in the same establishment.

“There’s a clear trend in this direction… And there’s no question cannabis is affecting the spirits industry,” Jon Taffer, host of “Bar Rescue,” says. Dasha Petrenko – stock.adobe.com

aluminum cans with a cannabis leaf — Cannabis-infused drinks are gaining popularity, challenging alcohol sales. Dasha Petrenko – stock.adobe.com

Minnesota is among the few states that currently permit the sale of hemp and low-dose THC beverages at breweries, and in some cases, even offer them on tap.

California has taken a firm stance on beverages containing THC, with the state’s Department of Alcohol Beverage Control issuing an industry advisory prohibiting alcohol-licensed businesses from carrying or selling hemp products.

Despite the regulatory challenges, some celebrities have entered the market, such as country music icon Willie Nelson.