As more states legalize the social use of marijuana, we are beginning to see a groundswell of companies in the wine business pursuing opportunities in cannabis, to generate new revenue streams.
“The huge potential for profit is very tempting, when it comes to growing marijuana in wine country.” – Forbes Magazine
The wine industry has been slowly but steadily moving to blend the wine and cannabis sectors. Various trade groups are conducting symposiums and sharing expressed interest across numerous service industries such as farm equipment, labeling and packaging, marketing, vineyard management and compliance.
As federal government interference has been minimal and state regulation has had a stabilizing effect, the wine, food and pharma industries have taken a more aggressive posture in developing the cannabis sector. I am told the growing requirements are very different from each other, making it unlikely they will compete for agricultural lands. It’s more likely the two industry sectors will share executive business leadership. The expectation of more regulation for cultivators and processors will follow. There also is a growing consideration for cannabis to follow the same path as wine and spirits, which should make the transition easier. This is projected to be a 10-plus year process.
Look to a slow growth of on-premise cannabis sales starting with Colorado.
It promises to be an interesting blend of two sectors coming together in a unique way. And, of course, the real question is: What impact will cannabis legalization have on wine sales?
in the Mix Media
“Risk is ultimately met with reward.”
– Ruth Epstein, on cannabis investments