“This is far worse than the trends seen between 2014-2018, where beer industry volumes fell an average 0.3%,” 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% through November, while imported beer volumes grew 1.4%. Cannabis consumers appear to prefer mainstream beer “as they pursue better ‘buzz for your buck,”’ Azer said in a note published Tuesday.
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Kristine Owram ~ Bloomberg.com ~