In Ideabar’s pursuit of a natural-minded consumer across industries, and in our ground-breaking work in the cannabis space, we’ve gotten to know the CBD consumer well. Here’s a view of this popular consumer target.
1. The CBD consumer is likely someone you already know.
One of every 14 Americans is using cannabidiol as a supplement. That’s roughly 7 percent of the U.S. population.
That number is expected to grow to 10 percent of U.S. adults – or 25 million consumers – by 2025, according to a 2019 analysis by Cowen & Co.
The market opportunity that implies? $16 billion in retail sales.
2. CBD consumers can be almost any age.
From college freshmen to grandparents, every age group is taking CBD.
While consumers whose reasons for trying CBD fall more in the “want” than “need” category skew younger – they are primarily 25 to 34 – medical CBD consumers cluster in the 25 to 64 age range.
Those are the consumers who feel they “need” CBD as an answer to an ailment like chronic pain or insomnia.
3. CBD consumers are predominantly white.
CBD consumers are primarily white – 74 percent or more, depending on who’s supplying the data. Some surveys have shown slightly more diversity, with a slight increase in the number of African-American users.
4. CBD consumers are in love (or looking for love).
Because of their age and life stage, the typical CBD user is beginning the transition into family life: living with a partner, celebrating an engagement or settling into marriage. There also is a healthy segment who remain single, of course.
5. CBD consumers work outside the home.
CBD consumers are more likely than the average American to hold down a job, either part- or full-time. However, they earn slightly less than the average American – again, a function of their youth.
6. CBD consumers are health-conscious.
They are always looking for new ways to live healthier, they’re willing to give alternative medicine a try, and they believe in the effectiveness of herbal supplements.
They’re also an active group, attending yoga classes, running after work, cycling on the weekends, exploring hiking trails, and playing volleyball and tennis.
7. CBD consumers are willing to spend on CBD.
Sixty-three percent of CBD users in the United States spend between $11 and $50 on a single CBD purchase. Twenty-four percent spend more than $50 on a single CBD purchase.
Where are they buying? One-third purchase CBD in rec shops and 31 percent buy CBD products in dispensaries.
8. CBD consumers in the United States are new to CBD.
This is a young category: Most current U.S. CBD users (55 percent) have only started using CBD within the past year.
Canadian CBD consumers have enjoyed a head start. Fifty-six percent of CBD consumers in Canada have used CBD for at least a year or more, and 24 percent have used CBD for five years and up.
9. CBD consumers are seeking relief from stress and sadness.
The most common medical conditions CBD consumers report are anxiety (65 percent), depression (50 percent), chronic pain (46 percent), insomnia (36 percent) and nausea (20 percent).
Other conditions that they seek CBD relief for include PTSD (17 percent), PMS / endometriosis (11 percent) and fibromyalgia (8 percent).
10. CBD consumers are media savvy.
They love to listen to the radio and surf the Internet, and they follow national averages as far as magazine readership goes. They are slightly lighter newspaper consumers, and light-to-average consumers of television.
Based on their social media pages and the accounts they follow, they enjoy online chatter about TV shows, movies and music.
These insights were pulled from Gfk MRI’s 2018 Cannabis Study and Brightfield Group’s 2018 CBD Consumer Dashboard. To learn more about the CBD consumer, contact Ideabar’s Insights team at 561-820-4280.
Contact Ideabar:
(561) 820-4280
ideabar@coxinc.com