There is much hype surrounding consumer-use cannabidiol (CBD) for health and wellness. There are hundreds of companies marketing tons of products; however, there is little consumer education or advertising, along with very nebulous claims, if any, about what the products will do for those who take them. There is even less information on dosage recommendations or clear labeling to help consumers understand how much CBD is actually contained in oral drops, tinctures, gummies, and other popular forms. In short, there’s lot of buzz surrounding this ingredient but little substance.
That is because this market is in its very early stages of development where there is little standardization on laws, regulations, and marketing restrictions. Therefore, in order to learn more, Kline has conducted extensive consumer research on CBD, because sometimes, before a market is clearly defined by manufacturers, marketers, and regulators, consumer perceptions are reality.
Among 650 nationwide adult U.S. consumers, CBD holds overwhelmingly positive perceptions.
The most common reasons consumers use CBD are for:
• Anxiety and stress relief
• Chronic pain such as arthritis, joint, or back pain
• Help sleeping
Aside from the generally positive perceptions of CBD, our research also finds that consumers increasingly view CBD as more effective than commonly used OTC and prescription drugs.
The CBD market is nascent; however, it is evolving very quickly, and marketers of OTC medications used to treat pain, sleep, anxiety, stress, or digestive ailments need to be prepared for how the CBD market may impact their brands. In March 2019, Kline & Company published Consumer CBD Products: U.S. Health and Beauty Market Analysis and Opportunities, which is based on extensive primary research with industry, regulators, and consumers.
Now, Kline has announced the next edition of our research on Consumer CBD for Health and Wellness: U.S. Market Analysis and Opportunities, which will provide updated consumer attitudes and usage research along with quantitative sales estimates, qualitative analysis of regulatory and legal status, and a forecast for CBD-based products. CBD is a key ingredient with multiple claims and is being studied extensively for its role in treating many disease states. This report helps subscribers to:
• Assess this dynamic market that is poised for strong growth
• Understand the existing legal and regulatory barriers
• Analyze consumer attitudes and perceptions about CBD products
• Evaluate claims being made and product forms available
• Learn about business opportunities and how to capitalize on this burgeoning space
• Prepare for the potential threats to existing brands
• Make predictions about the CBD market in the United States