Will Legal Marijuana Create New Restaurant Opportunities?

Will legal marijuana create new restaurant opportunities?“If you’ve been to a food conference lately you’ll notice there’s at least one session talking about cannabis, CBD, cannabinoids, or whatever term we’re using now. I’ve been to two conferences in recent weeks that addressed the topic and I’m writing this post while in California, where voters legalized recreational use of marijuana via referendum in 2016. Therefore, I have pot on the brain — so to speak.

At NPD we’re always analyzing how trends affect the food and beverage industry and if you talk to a — what shall we call them, “pot enthusiasts” — you’ll know food plays a major role when they use marijuana. This can be from how they ingest the marijuana to the munchies leading them to eat a variety of indulgent foods.

We took a look in our SnackTrack information, which monitors the consumption of ready-to-eat, convenience-oriented snack foods in the U.S., to see if there are changes since legalization occurred. In those states that legalized recreational marijuana, brownie consumption has increased a whopping 107 percent compared to pre-legalization times. Chewy candies, which had a stable consumption level for years, grew by 17 percent after legalization, and fruit snacks also increased after legalization.

I’m not sure yet if this is a result of the munchies, pot brownies or gummies, and all I can fully say with confidence is these changes are correlations. However, these correlations are in line with what we’ve known anecdotally for some time about recreational pot usage and can point to growth opportunities should more states allow it.”

Read more here.

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