It is indisputable that the CBD market is growing and shows no sign of slowing down, in the past six months a reported 15% of adults in the US have tried CBD products.1 The celebrated and reported benefits are ample, from an improved sense of calmness and boosted mood to better blood flow and a good night’s sleep; it seems as though CBD has something for everyone. However, whilst this plant compound may have the properties to help each and every one of us, market research tells us that there will always be a pattern in consumer behaviour - something that gives them common ground. We decided to look into who exactly is buying CBD and the reasons behind this.
CBD seems to be most popular amongst millennials, aged 21-35. In a study of 4,000 it was found that among the millennials 40% of them had tried CBD. Issues which are often associated with millennial stress and burn out were cited such as stress, anxiety, fatigue, and insomnia. This is a generation that faces a new wave of constant social and professional pressures, which leads to physical and emotional exhaustion. Additionally, it could be inferred that this group is most open to CBD as they have grown up open to the idea of alternative solutions. A modern solution to a modern problem.
Research showed that there was a female majority among CBD consumers, accounting for 56% of the demographic (in a study of 7,000).2 This majority can most likely be attributed to the fact that CBD skin care and cosmetics make up a large portion of the market, and currently this branch is being predominantly marketed towards women. This is not to say that male orientated CBD grooming products do not exist, from eye cream to shaving cream you can find it, but rather the cosmetics industry is dominated by female orientated products.
The other significant consumer segment found in the survey was baby boomers, aged 56 and older, who are looking to use CBD to treat physical ailments such as chronic pain management and inflammation.
It’s easy to see that the spread of CBD consumers is a pretty wide demographic. Whilst there are trends which show there are slightly more female consumers, and a millennial majority, this does not rule out other groups. When it comes to CBD users the common denominator is often the interest in living a natural and healthy lifestyle, which is answered with this plant based product. For potential users, 44% stated that they would be more motivated to jump on the bandwagon if there was a greater availability of unbiased research.3 Thanks to widening interest and legalisation of hemp across the US and the EU, this research is beginning to come to the fore; so for now we just need to watch this space and remember that the CBD consumer could be anyone.