Canadians consumed less beer during the first year of cannabis legalization. The report cites data from industry advocacy group Beer Canada, which found beer volumes fell by three per cent through November.
Declining sales have led to several partnerships between alcohol and cannabis companies, such as Constellation Brands Inc.’s investment in Canopy Growth Corp. in November 2018. The recent decline in volumes is “far worse” than trends seen in the previous four years, when beer industry volumes fell an average of 0.3 percent, according to Cowen & Co. analyst Vivien Azer.
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