CBD Market Maturing; Use Cases Slowly Shifting

July 8, 2021

This article is included in these additional categories:

Boomers & Older | CPG & FMCG | Demographics & Audiences | Industries | Pharma & Healthcare | Youth & Gen X

IntegerGroup Reasons for Purchasing CBD Products July2021With the passing of the Farm Bill in 2018 came an explosion of products containing cannabidiol (CBD) for consumers to choose from. However, the novelty of these products may already be wearing off, with a survey [download page] from the Integer Group finding that consumer interest in purchasing CBD products decreased between 2019 and 2020.

The report reveals that in 2019, close to one-fifth (17%) of consumers surveyed said they were interested in purchasing CBD products. By 2020, the share of consumers who expressed interest in buying CBD products dropped by 8 percentage points to 9%.

Similarly, the share who had actually purchased CBD products in the previous months decreased slightly, year-over-year – from 24% in 2019 to 22% in 2020. All told, then, the share of consumers who said they had not purchased CBD products and weren’t interested in purchasing them in the future grew by 11 points between 2019 (58%) and 2020 (69%).

Two years ago the top reasons for purchasing CBD products were for pain relief and to reduce stress. While pain relief (46%) and reducing stress (34%) remain the top uses for CBD products today, the percentage of consumers who purchase them for this reason has declined since 2019. At the same time, those who buy CBD products to enjoy social occasions (15% vs. 11% in 2019) or to improve exercise, training or sports performance (12% vs. 8%) has increased slightly over that period.

Older adults (ages 55+) are more likely than younger adults to say they buy CBD products for pain relief, while adults ages 18-44 are far more likely than their older counterparts to use them in order to enjoy social occasions.

Finally, although there appears to be a lift in those who have purchased CBD products across the various forms that are available, oils, edibles and topical rubs remain the most popular. However, there is growing interest in trying CBD products such as patches, non-alcoholic beverages, pet care products, alcoholic beverages and smokable forms.

The full report can be found here.

About the Data: Findings are based on surveys of 1,078 adults in May 2021, 1,204 in March 2020 and 1,116 in July 2019.

45th Parallel Design Ad

Explore More Charts.

Pin It on Pinterest

Share This