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The alcohol industry is suffering as consumers sober up – is it still worth investing in the sector?
['Jamie Ward', 'Social Links Navigation']
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In Canada, for example, alcohol sales have seen a discernible decline following the legalisation of adult-use cannabis, with Nova Scotia experiencing an initial 2.2% dip.
Statistics Canada further corroborates this, reporting declines in alcohol sales during 2023-2024, whilst adult-use cannabis sales simultaneously rose.
This trend is particularly impactful on beer sales, whereas spirits sales remained largely unaffected.
In US states such as Colorado, Washington and Oregon, post-legalisation beer sales fell modestly while spirits sales actually rose.
The global spirits market is projected to continue growing as more parts of the world adopt middle class lifestyles.
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'drinks'
'wine'
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'industry'
'sober'
'alcohol'
'companies'
'consumers']