The Future of Socialising: What’s Next for the Dry Economy?
New Study Reveals Nearly 1-in-5 UK Adults Have Tried CBD Infused Drinks. A recent survey by research-led consultancy firms KAM Insight and High & Dry found that 19.4% of adults in the UK have used CBD-infused drinks. Furthermore, 28% of respondents expressed an interest in trying these drinks in the future, indicating a growing trend towards ‘psychopathic interests’ in social settings “The Future of Socialising.” : What’s Next for the Dry Economy?” The changes could affect the food, beverage and hospitality industries.
Reasons for using CBD, THC and other psychotropic substances follow the traditional motivations for drinking according to responses from 975 adults identified as ‘psychopathic-prone’ with key factors a it includes ‘help relax’ (70%), relieve anxiety (60%), socialize with friends (58%), ‘have a busy day followed by relaxation’ (57%) and although these products are consumed mainly at home (77%) though a significant number of people use it at events such as gigs and festivals (64%) . , as well as bars and clubs (31%) .
Generation Z leads the way in this trend, with 38% trying CBD-infused drinks and 10% drinking them regularly, compared to the national average of 4% .
Blake Gladman, director of strategy and insights at KAM, highlighted the changing nature of social life in the UK. “The way Britons socialise, including their relationship with alcohol, is changing. Recent research by Lucky Scent shows UK adults are drinking less, at least. While the economic reasons are part.” , however, 47% mention ‘psychological well-being’ Their alcohol.” ” With global alcohol consumption declining as a key driver of alcohol facilitation, our research examines future trends and their potential impact on the food, beverage and hospitality industries.
Daniel Rowntree, founder of High & Dry, pointed to the broader implications of this change. “Thirty-seven states in the U.S. have legalized medical marijuana, with more on the way. Switzerland opens first dispensaries in 2024; Germany opened a legal marijuana market in April of this year; trials continue in Holland.” “”
The report also states that the ten largest alcohol companies in the world have invested in the cannabis market. Examples include Constellation Brands’ investment in Canopy Growth, Molson Coors Brewing Company’s partnership with Hydropothecary, and Heineken’s launch of Hi-Fi Hops, a THC-infused beverage, sourced in California and a few off-the-shelf products and commercially came venues. Despite their availability, most consumers purchase these products online, with 28% from online marketplaces, 26% directly from pharmaceutical brands and 26% from online pharmacies
Companies like TRIP, Space Goods, Impossibrew, PerfectTed, and Collider have been able to build their presence through direct-to-consumer sales and online.
The report predicts a significant shift away from alcohol, with 40% of respondents indicating that other mood-altering factors reduce their alcohol consumption This trend suggests that more people are looking for alternatives relax and socialize, potentially transforming the UK social and hospitality landscape.