According to a new study, roughly 40 percent of U.S. adults age 21 and over indicated a willingness to explore CBD under the right conditions.
The study on U.S. CBD consumers by High Yield Insights is the first to quantify booming domestic consumer interest in products containing CBD, a therapeutic chemical compound found in cannabis. CBD has been proven to alleviate symptoms associated with seizure disorders and is known to address issues associated with anxiety, pain, depression, sleeplessness and other health conditions.
The report breaks ground in understanding the behaviors, product and format preferences, and demographics of both current and potential CBD users. The study included U.S. consumers who indicated interest in CBD, finding that the majority (64%) are 35 years or older, female (56%) and with college experience (79%).
For these potential users, key motivations for trying CBD include easier access to products (42%), availability of unbiased research (44%) and a physician’s recommendation (34%). Among products potential users might consider, accessible forms such as chocolates and baked goods rank high along with types resembling familiar OTC products such as pills and capsules.
“We are seeing many consumers looking to incorporate CBD into their wellness regimen,” said Mike Luce, co-founder of High Yield Insights and a 20-year veteran in consumer insights and market research. “Consumers previously unfamiliar with CBD are rapidly showing interest. Now that the federal government is finally taking steps to clear up the hazy legal picture, people see CBD as an entry point to the therapeutic benefits of cannabis.”
Among current CBD users, approximately half are under the age of 34 and most (54%) have used CBD for less than one year. Some (30%) current users report using products containing CBD only while others prefer medicating with products containing a mixture of CBD and the psychoactive compound THC.
While the legality of products containing THC varies state to state, the U.S. government seems to have bestowed legal status on some products containing CBD. Only CBD derived from “industrial hemp” containing a mere trace (.3 percent) of THC has been approved for consumer use.
