July 19, 2021

CBD Statistics 2021: Mid-Year Check-In For The Inquiring Mind

Curious about the whos, whats, how muchs of the CBD industry in the US? Us, too! That’s why we scoured recent publications for some juicy info for you to roll around your brain.

Curiosity may have killed the cat. But, luckily for us, it’s just led to some fascinating answers. We hope the facts and figs below help satisfy your CBD-related imponderables and musings. Things like:

  • Who’s using CBD oil products?
  • What do people think about CBD?
  • How does CBD fit into people’s lives?
  • What’s happening in the CBD industry?
  • Has the pandemic impacted CBD and, if so, how?
  • What’s going on with CBD regulation?
  • (We’re not mind readers, so imagine your questions here….)

Please note: These are all interesting and important questions. Which is why we’ve done our absolute best to gather reliable data from a variety of sources. However, all the numbers, dollar amounts, etc. are from third-parties — and we have no insight into or control over their research or findings.

Notable 2021 CBD Demographics

  • A third of Americans have tried CBD at least once, with 9 million people giving CBD a go for the first time due to the pandemic.(1,2)
  • About 75% of CBD users are 45 years of age or younger.(2) Frequency of CBD usage tapers off the older the user is.
  • Millennials and Gen Xers approach CBD in their own way. Each generation seems to discover and research CBD differently. Younger users pick up info via social media and personal shopping experiences. Gen X folks lean more old-school, getting their CBD 411 from conventional media sources (e.g., TV and magazines) and their trusted healthcare pros.(3)
  • People take CBD for a multitude of reasons. Younger CBD consumers tend to take CBD for its calming effects. Older CBD devotees are looking to cannabidiol for help with aches and pains.(2)
  • Women dominate all areas of CBD. They represent 55% of users, over 75% of brand creators/managers, and 70% of sellers.(2)
  • What kind of CBD products are people consuming? Good question! According to one report’s survey findings, there are definitely some crowd favorites. It breaks down like this: CBD gummies and CBD tinctures (45% each), CBD capsules (24%), CBD beverages (14%).(3)
  • Got fur babies? Apparently, 90% of pet parents consider CBD a paws-ible treatment option for little Fang and Cannoli Sr.(2) So, CBD’s not just for us humanoids.

The CBD Market (So Far) In 2021

  • Given that 26% of people think CBD = marijuana, there’s a Mariana Trench-sized education gap to be filled.(2) Sounds like opportunity for smart players in the CBD world!
  • That said, CBD web searches and use of related tagging (e.g., #cbdoil) on social media continue to skyrocket. You should anticipate this to trend to stay the course.
  • CBD markets were crazy disrupted by the pandemic. Many brick-and-mortar shops shuttered their doors. Meanwhile — no surprise here — online sales soared to 38% of sales.(4) Some IRL brands were able to shift to ecommerce and are sticking it out. We’ll see how this plays out through the rest of 2021 — will local CBD stores rebound?
  • By the end of the year, you could start seeing a lot more full-spectrum CBD goods enter the marketplace. Similarly, products highlighting other cannabinoids (e.g., CBN, CBG, etc.) may begin tiptoeing onto shelves as well. CBD drinks and CBD gummies are the fastest growing product types, though CBD tinctures hold the lion’s share of the market.(4) There are plenty of reasons for this, but as a consumer — this could be a total win for you! Think of all the new options you can discover!
  • There’s still just one FDA-approved CBD-based medical product — Epidiolex — on the market. While sales for Epidiolex are on a major upswing, the population of possible users is small and fixed. So, growth in the pharma CBD sector is dependent upon new CBD medications getting approved.
  • In terms of money, CBD has a foothold in our finances for sure. Americans reportedly dispense between $20 and $80 per month, on average, for CBD goods.(2) Estimates vary, but indicators suggest that we’re on track for US CBD sales to hit between $4.3 and $5.3 billion by year’s end, and continue growing exponentially at about 30% per year through 2027.(5,6)
  • The number of licensed US hemp growers jumped by 27%.(2) So, even at the very beginning of the supply chain you’re seeing expansion.

2021 CBD Legalities As Of Now

  • There’s overwhelming support across the US for cannabis legalization for medical use and/or recreational 60% of American adults want cannabis legal for both medical and non-medical purposes; 31% say cannabis should be allowed for medical reasons. That’s a whopping 91%!(7) And, of course, riding the coattails of marijuana legalization is CBD legalization. So this trend bodes well for CBD makers and takers.
  • Creation and implementation of CBD-related regulations continues to be slow and uneven. At the federal level, it’s likely to keep moving forward and eventually result in clearer guidance for CBD product producers, sellers, and consumers. At the state and more local tiers — it’s hard to say because each is its own jurisdiction.
  • Currently, CBD is like an island — it’s its own separate and distinct sector. This is largely due to the giant regulatory question marks and differences across the landscape. It’s expected that the lines will blur going forward. As the laws get figured out and cannabis usage normalizes even more, you may see category crossovers. For example: Is that CBD oil with melatonin a CBD product or a sleep aid product? Do your CBD gummies with elderberry fit into the CBD market or the general wellness market?

2021 CBD Stats — Mid-Year Review

CBD use and users have changed in the first half of 2021 as compared to 2020 and recent pre-pandemic years. But, it’s still growing at a healthy rate. Expectations are that this will continue, especially as the regulatory tableau is settled and cannabis continues to go mainstream. You’ll definitely want to stay tuned as this is an exciting market to watch evolve!

BE TRENDY — GET YOUR CBD TODAY

 

References

  1. (2021). CBD statistics 2021. The Checkup. https://www.singlecare.com/blog/news/cbd-statistics/#how-common-is-cbd-use
  2. Petkovic, B. (2021). A Budding Industry: CBD Statistics & Trends (Infographic). LoudCloud Health. https://loudcloudhealth.com/resources/cbd-statistics-infographic/#
  3. Brightfield Group. (2021). CBD: Industry or Ingredient? 2021 Mid-Year US CBD Report. https://content.brightfieldgroup.com/2021-us-cbd-market-report
  4. Hasse, J. (2021). US Hemp CBD Market To Hit $5.3B In Sales In 2021, Driven By Drinks, Gummies And Charlotte's Web. Yahoo! Finance. https://finance.yahoo.com/news/us-hemp-cbd-market-hit-190146582.html
  5. Domangue, K. (2021). 2021 CBD Market to Outpace 2020, Per New Brightfield Report. Press release. https://www.greenmarketreport.com/2021-cbd-market-to-outpace-2020-per-new-brightfield-report/
  6. (2021). Cannabidiol (CBD) Market 2021 Share, Size, Future Plans, Growing At A CAGR of 33.5%, Leading Players Updates, Progress Insight, Gross Margin by Forecast to 2026. Press Release. https://www.theexpresswire.com/pressrelease/Cannabidiol-CBD-Market-2021-Share-Size-Future-Plans-Growing-At-A-CAGR-of-335-Leading-Players-Updates-Progress-Insight-Gross-Margin-by-Forecast-to-2026_13025439
  7. Van Green, T. (2021). Americans overwhelmingly say marijuana should be legal for recreational or medical use. Pew Research Center. https://www.pewresearch.org/fact-tank/2021/04/16/americans-overwhelmingly-say-marijuana-should-be-legal-for-recreational-or-medical-use/


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