Survey Says: People Are Falling—and Staying—in Love with CBD

A new survey reveals all about the growing market.

By Beth Shapouri

We know people are buying CBD—according to research by the Brightfield Group, sales are forecasted to rise by 14 percent in 2020 and are projected to reach $16.8 billion by 2025. But now, thanks to a 2020 National Use of CBD Study  by the agency Bigeye, we know a little more about the people who are snapping it up. For the survey, which was done earlier this year, 798 CBD users were polled about their habits, views, and usage to get a snapshot into the community growing around the compound. The findings were downright enlightening.

 

A FEW OF THE HIGHLIGHTS:

Fans Are Truly Devoted

It seems that CBD users are loyal to the hemp-derived cure-all. A whopping 88 percent of those surveyed claim they were “somewhat” or “extremely likely” to continue to use it in the future. And the longer folks have been on the CBD train, the more likely they are to stay on it. Most of those polled clocked in at two years or less, owing to the 2018 Farm Bill Act that made CBD legal in the U.S. Of those using it for less than one year, 53 percent said they were “extremely likely to continue using CBD long-term;” of those who have used CBD for five years, that percent age grew to 79. The propensity to recommend it showed a similar correlation, with 44 percent of those using it for less than one year saying they are extremely likely to recommend CBD to family and friends and 72 percent of people at the five-year mark. The implication? Like any good romance, if you love CBD, the feeling for it tends to grow with time.

Putting the “Multi” in “Multifunctional”

 

Here’s how the reasons for usage stacked up: 38 percent use it for mental health and neurological disorders, 33 percent for pain relief, 36 percent for sleep and relaxation, 18 percent for medical conditions, and 8 percent for beauty and skin conditions. This all makes sense—studies show that the compound works in concert with the body’s endocannabinoid system (which is in charge of regulating many of processes in the body) and has promise to help with everything from mood and anxiety to pain to stress and sleep to certain skin conditions like acne. And humans aren’t the only ones getting in onthe action—8 percent also use it on their pets, primarily for stress and anxiety as well as joint and muscle pain.

The survey also showed that the number of indications increases along with the length of use. AdrianTennant, vice president of insights at Bigeye, discussed that finding on the agency’s In Clear Focus podcast, saying that it points to the compound’s “unique proposition as a multifunctional ingredient. Inpractical terms, a claim that CBD helps treat specific skin conditions can be augmented with a claim that it also calms the user and lessens the anxiety that a person may have as a consequence of their condition.”

It’s Splurge-Worthy

 

It seems CBD users believe quality comes with a price tag. A third of those surveyed spend $50 to $99 a month on products containing the compound, 27 percent fell in the $100 to $199 range, and 8 percent spend over $200—meaning 35 percent of shoppers are spending more than $100 every month on the wonder ingredient.

People who use CBD as alternative medicine fall into the higher-spend category. Dana Cassell, Bigeye’s senior manager of strategy, dove into this on the podcast, saying, “Consumers using CBD to treat medical conditions were among the most likely to spend between $200 and $249 per month on CBD products.” She continued, saying, “The study results show that some consumers are either supplementing or replacing the use of over-the-counter pain medications in favor of more natural solutions like CBD.”

Buyers Are on Alert

 

Since the category is so new and regulations, studies, and quality control are still evolving, consumers did report some hesitation when making purchases. Their top worries: potential for scams from black-market companies (35 percent), lack of quality control (35 percent), lack of product regulation (27percent), and a lack of education for people who don’t fully understand the effects (25 percent).
It’s understandable for consumers to feel confused and overwhelmed when browsing a new category that’s growing at such a rapid pace. And these findings highlight just how crucial it is for transparency from CBD brands in everything from sourcing to formulation (you can read all about Miraflora’s story here!). One thing a shopper can look for: full-spectrum CBD (as opposed to an isolate), which contains not only phytocannabinoids but terpenes and flavonoids. Research suggests these elements work together synergistically to produce an “entourage effect” in the body that ups efficiency in a way that asingular hemp constituent isn’t able on its own. In other words: The product is formulated to get the most benefits out of your CBD, as it boasts more elements of the plant it’s derived from. Team work, it seems, is what it’s all about.

Third-party lab results you can trust.

Our Colorado-grown, full-spectrum CBD is organically farmed and rigorously refined to produce consistent results you can feel, and you can fact-check us yourself. Check the bottom of your product bottle, where you’ll find the product’s lot number. Find this number under the appropriate product listed below and click on the link to view the lab results. The lab results contain information about the date of manufacture, attributes (like consistency and color), potencies, terpenes, pesticides, heavy metals, solvents and so on. This page includes both in-house and third-party lab results. If you have any questions, don’t hesitate to let us know!

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