86% of Consumers Know of CBD, Survey Finds
New Frontier Data, Square partner on CBD consumer research series.
New Frontier Data, in partnership with payment innovator Square, has released the first volume of its newest CBD series, “U.S. CBD Consumer Report: Archetypes and Preferences.” This report analyzes and outlines nine unique consumer and non-consumer archetypes.
“Our research shows that 1 in 5 Americans have used CBD, which demonstrates a major jump in consumer interest in the sector,” said New Frontier Data Founder & CEO Giadha Aguirre de Carcer. “While this phenomena is taking root across many other regions such as Europe and Latin America, the United States continues to represent the largest CBD market. Understanding its CBD consumers is therefore a priority for enterprises within both the legal cannabis industry and a multitude of mature sectors such as Food & Beverage or Health & Beauty.”
Key findings from the report include:
- CBD purchasers aged 35-54 are most likely (21%) of any group to spend over $100 per month on CBD.
- 29% of Americans reported being likely to purchase CBD in the following six months.
- 18% of Americans have tried CBD and 86% of Americans know of CBD.
- 40% of CBD consumers report using CBD at least once a week.
- 60%of American CBD consumers report using CBD for some form of unwinding (e.g., relaxation, relieving stress or anxiety reduction).
The U.S. CBD Consumer Report: Archetypes and Preferences, Vol. 1, executive summary is now available for free download on New Frontier Data’s website and the full report via New Frontier Data’s cannabis business intelligence platform, Equio.