As a plant, cannabis and cannabidiol (CBD) benefit from the healthy halo effect of being natural and “good for you,” which plays well into overarching consumer demand for natural and health-conscious products. CBD has already started to impact several consumer markets, including health and wellness, and food and beverages.
Strongly positive consumer perceptions toward cannabis and CBD remain a key factor that is expected to impact these consumer markets. This is substantiated by a Kline survey of 650 U.S. adults; it concluded that CDB is overwhelmingly viewed in a positive light among consumers, as more than 85% of respondents believe CBD to be safe, effective, and natural, according to our Consumer CBD Products: U.S. Market Analysis and Opportunities, published in March 2019 and based on extensive primary research with industry, regulators, and consumers. Aside from the generally positive perceptions of CBD, our research also finds that consumers increasingly view CBD products as more effective than commonly used OTC and prescription drugs.
With CBD emerging as the new health ingredient, the market is witnessing a surge of new products. Some examples of CBD-infused products include tinctures, gummy bears, chocolates, and snack bars. Companies such as CBDFX, Weller, 1906 New Highs, and JustCBD are some marketers who offer CBD-infused products.
The CBD market is nascent; however, it is evolving very quickly, and marketers of OTC medications used to treat pain, sleep, anxiety, stress, or digestive ailments need to be prepared for how the CBD market may impact their brands. Furthermore, the demand for other variants such as organic CBD and full-spectrum CBD are also some key areas that remain a key opportunity to tap.
Understanding who the CBD consumer is, how they perceive this product, how they use it, and the use of CBD relative to OTCs is crucial to navigating this unknown market.
Now, Kline has announced the next edition of our research on Consumer CBD for Health and Wellness: U.S. Market Analysis and Opportunities, to be published in Q1 2020; it will provide updated consumer attitudes and usage research along with quantitative sales estimates, qualitative analysis of regulatory and legal status, and a forecast for CBD-based products. CBD is a key ingredient with multiple claims and is being studied extensively for its role in treating many disease states. This report helps subscribers to:
- Assess this dynamic market that is poised for strong growth
- Understand the existing legal and regulatory barriers
- Analyze consumer attitudes and perceptions about CBD products
- Evaluate claims being made and product forms available
- Learn about business opportunities and how to capitalize on this burgeoning space
- Prepare for the potential threats to existing brands
- Make predictions about the CBD market in the United States
Our upcoming Cannabis in Food & Beverages: U.S. Market Assessment and Opportunities report, which will be published in January 2020, will assess the current regulatory and legal status regarding this market, available products, distribution channels, and the outlook for cannabis-based food and beverages, including those containing cannabidiol (CBD) and hemp derivatives.