A new survey has found that one in five individuals who are not drinking alcohol this January have switched to marijuana as an alternative. The survey found that while 33% of those on a month-long break from alcohol weren’t replacing it with anything, 21% were opting for marijuana and CBD products to get through the month.
Cannabinoids and cannabis were the most common alternative, with the remaining opting for nonalcoholic beverages, including kombucha, soda and seltzer.
The survey also found that young people were more likely to consume marijuana over alcohol, with 34% of those aged 21 to 24 consuming marijuana. This is significantly higher than the 24% of people aged 25 to 34, 22% of those aged 35 to 54, and 9% of individuals aged 55 and above who admitted to consuming marijuana after ditching alcohol.
The survey’s findings highlight a trend showing that as more states legalize cannabis, more individuals are choosing to consume marijuana over alcohol and certain prescription medications.
Prior surveys have also found that most Americans believe that marijuana is safer than tobacco and alcohol. A separate survey released in 2022 discovered that more Americans were consuming marijuana-infused edibles and smoking marijuana in comparison to those that smoked cigarettes. The poll also found that more than twice as many individuals believed cannabis had a positive impact on its consumers and society as compared to alcohol.
This is consistent with the findings of another survey released in 2022, which found that more Americans thought it would be good if people drank less alcohol and switched to marijuana, in comparison to those who thought substituting alcohol for marijuana would be bad. A separate study funded by the federal government also determined that individuals living in states that have legalized the recreational use of cannabis were less likely to suffer from alcohol use disorder, in comparison to those that have not legalized the drug’s use.
The cannabis effect can also be seen in tax revenue generated, with the states of Washington and Colorado raking in significantly higher revenues from cannabis sales than from either cigarettes or alcohol in fiscal year 2022.
Data from Massachusetts also shows that the state collected more tax revenue from cannabis than alcohol. This has also been observed in Illinois, which collected roughly $100 million more from the sale of adult-use cannabis in 2021.
The state of Arizona also collected more tax revenue from legal marijuana sales than from the legal sale of alcohol and tobacco combined.
As the marijuana industry booms in different jurisdictions, a broader market is likely to be created for entities such as Advanced Container Technologies Inc. (OTC: ACTX), which focus on making ancillary products needed by cannabis businesses.
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