Trends in the US CBD consumer market

Researchers have identified some trends in the US CBD consumer market. Once an unknown and mysterious compound in cannabis, CBD has made strides in research labs and clinical studies.

CBD stands for cannabidiol. First isolated in 1940, CBD is one of hundreds of cannabinoids found in cannabis. Unlike its famous cousin, tetrahydrocannabinol (THC), CBD doesn’t cause the “high” associated with cannabis.

But like THC, CBD is a cannabinoid that mimics the endocannabinoids that the body naturally produces. And thanks to ongoing research and increasing popularity, one can see the changing trends in the US CBD consumer market.

Trends in the US CBD consumer market

Trends in the US CBD consumer market include most CBD consumers favoring gummies as a source of the anti-inflammatory cannabinoid. More women consume CBD than men and are willing to pay higher prices for premium products. However, the industry is slightly down as consumers switch to cheaper CBD products.

However, the CBD flower market continues to grow. This makes sense because flower isn’t just a homogeneous category. Within the demand for CBD flower, there is product differentiation. From growing methods to the presence of other cannabinoids like CBG, the CBD flower market is limitless.

As for reasons for consuming CBD, treating insomnia remains the top trend in the US CBD consumer market.

What the data says

According to data from the first quarter of 2022, at least 51% of CBD consumers in the US are willing to spend up to $100 per month on CBD products. 42% of CBD users take CBD at least once a day.

Despite the growth within this price range, there is a downward trend in the US CBD consumer market. Average spending has fallen across the country. But CBD flower and pre-roll sales are up. 17.5% of CBD users smoked CBD flower in the first quarter of 2022. 16.2% consumed pre-rolls, compared to 13.4% in the same quarter last year.

CBD users are also THC users. Almost 3 out of 4 CBD users have purchased THC products. That number hasn’t bulged much over the past four quarters.

Promotional trends in the US CBD consumer market

Unlike in countries like Canada, where advertising is banned, different rules apply in the American legal states depending on the location. Most territories allow advertising, and CBD flower products tend to lean on both THC and tobacco branding.

Mom Grass CBG Hemp Flower uses cannabis-like packaging but appeals to consumers looking for minor cannabinoids. Almost 48% of CBD users say they bought CBG products in the first quarter of 2021.

CBD American Shaman makes a product that comes in a cigarette-like packaging and bills itself as a hemp cigarette.

women vs men

One of the ongoing trends in the US CBD consumer market is that women are spending more than men. This is true both in the sense that women are buying more CBD products than men, as well as buying higher priced premium CBD products.

Women are more likely to buy CBD gummies than CBD flowers (56% for women vs. 51% for men).

Men tend to look at CBD products that contain CBC, CBG, CBN, and CBT. In comparison, women prefer balanced THC to CBD ratios.

Many entrepreneurs take advantage of this gender difference. Hempworx, for example, is targeting their female consumers on their social media.

Many CBD products aimed at women make claims of relieving pain and stress caused by their menstrual cycle.

Sleepless people in the US CBD consumer market

Another trend in the US CBD consumer market is why people are consuming CBD. Up to 40% of Americans experience symptoms of insomnia. One in five acute cases of insomnia becomes chronic. Trends suggest that insomnia is becoming an increasingly important problem among Americans over time.

This is why CBD companies target insomniacs in their branding. For example, the “Go the F**k to Sleep” exhausted peppermint tincture. At $69 per bottle, it’s one of the most affordable CBD products out there. It has a whopping 1,450mg of CBD per bottle and is blended with CBN. The tincture comes with the book the product is named after for an additional $20.

CBN stands for cannabinol. It is the cannabinoid with the best sedative properties. Consuming 5mg of CBN was compared to taking 10mg of Valium but without the psychoactive effects of the latter.

Because of this, CBN has found its way into CBD tinctures designed as sleep aids.

in summary

Trends in the US CBD consumer market are encouraging despite the downtrend in the first quarter of the year. The growth of CBD flowers and interest in other smaller cannabinoids is encouraging; it demonstrates an educated consumer base and interest in the medical and therapeutic uses of cannabis beyond THC and CBD.

With promising results (like CBD might block COVID infections) and satisfied consumers, trends in the US CBD consumer market are likely to remain positive for the foreseeable future.

footnote(s)

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