The Analyst’s Take: 47 percent of consumers are familiar with CBDThe Analyst’s Take: 47 percent of consumers are familiar with CBD
Nutrition Business Journal conducted one of the largest scale consumer studies on CBD and found that nearly half of consumers are currently familiar with this exploding supplement. However, the results also suggest that confusion is a key challenge for the industry. This is the latest installment in our data discussion from Nutrition Business Journal’s senior analyst.
February 13, 2019
The natural products industry has overwhelmingly embraced CBD and hemp with enthusiasm, recognizing the enormous opportunity that this ingredient presents. And with sales growth of over 50 percent in 2018 for hemp-derived CBD supplements alone, this enthusiasm is clearly warranted. However, while excitement is building within the industry, consumer familiarity and perceptions in the hemp-derived CBD space are a bit murkier.
New Hope Network and Nutrition Business Journal conducted one of the largest scale consumer and manufacturer studies on hemp/CBD to gauge understanding and perceptions around this hot ingredient both within the industry and the general public. We found that while nearly half of U.S. consumers are familiar with CBD, a significant percentage are entirely unfamiliar with the ingredient, and those who do know about CBD are highly likely to be confused or unaware of the science or legality behind it. Reaching and reassuring those consumers could be crucial. Even consumers who are unsure about the science or legal standing of the ingredient show high purchase intent, suggesting growth could be astronomical for brands that deliver on education.
Learn more in NBJ’s Hemp and CBD Guide: Navigating Risks and Opportunities in a Complex Market. This comprehensive guide features full results from proprietary consumer and manufacturer surveys, New Hope Network Concept Lab analysis of delivery formats, science and regulatory updates and many more insights into this controversial market.
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