Beer Producers More Likely to Lean into Cannabis than Spirits Producers
Beer producers are making bold investments in the cannabis-based drinks sector, but spirits producers have been more complacent when it comes to entering the space, according to Spiros Malandrakis, Head of Research – Alcoholic Drinks at Euromonitor International. Truly Hard Seltzer owner Boston Beer Company recently revealed plans to establish a Canadian subsidiary focused on non-alcoholic cannabis beverages, while other beer producers such as Constellation Brands, AB InBev, and Molson Coors have also moved into the sector.
Major spirits players such as Diageo and Pernod Ricard have displayed more hesitation, but have confirmed that they are “monitoring” the space.
“The beer category is feeling the pressure,” said Malandrakis. “Beer conglomerates mistook the craft trend and lost a massive amount of sales. They don’t want to lose the next big trend. With spirits brands, because they have gained share from beer, there is complacency, and they are more conservative in their approach.”
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