For the first time, more Americans are using marijuana on a daily or near-daily basis than alcohol.Daily or near-daily marijuana use is now more common than similar levels of drinking in the U.S., according to 40 years of data analyzed by
"We believe — and data clearly indicates — the younger demographic cohort is increasingly accepting cannabis on a daily and monthly use at a higher rate than other generations," said Roth MKM analyst Scott Fortune."As there are indications of consumers substituting away from other pleasure uses , we think as younger generations grow up with legal cannabis options, the acceptance of cannabis will become more prevalent and substitute away from traditional options," he added.
"From the cannabis side, we wouldn't say alcohol stands to be necessarily hurt by this trend, but would look for alcohol to partner, invest or acquire into U.S. cannabis when federal regulations allow it to capitalize on anticipated industry growth," Fortune said.