Young Cannabis Users Are Drinking Less Alcohol, Study Shows

By Tiffany Kary, Bloomberg News on December 4, 2022

The youngest US consumers are trending toward weed over booze, reshaping the alcohol industry, according to a study.

“Legal cannabis states are showing slower alcohol growth,” analyst Vivien Azer wrote in research released Friday by Cowen Inc., which found that more than 60% of consumers who use cannabis have cut back on drinking. The youngest consumers are driving the trend.

In 2020, 79% of cannabis consumers age 18 to 25 also drank alcohol, down from 90% in 2002 — sharper than the drop found among those 26 and up. Conversely, the percentage of drinkers who use cannabis in that age category grew to 32% from 25% during that time frame.

– Read the entire article at Bloomberg News.