CBD is changing the health and wellness industry for good. Let’s learn about some of CBD’s statistics.
After the federal legalization of hemp in 2018, an army of CBD products has entered the conversation. From CBD oils and tinctures to transdermal creams and lotions, there’s a lot going on in the cannabis world.
In the coming decade, things are speculated to get even better, with CBD expected to disrupt even more industries.
Many reputable sources have forecasted cannabidiol’s consumer usage, market growth, and habits, among other things, to shoot through the roof. In this article, we’ll review these statistics and shed light on how the CBD industry will shape itself in the future.
What is CBD Oil?
CBD is a hemp-based chemical known for providing a host of benefits. Lately, researchers have taken special stock in the compound’s ability to tap into the endocannabinoid system.
The endocannabinoid system is an enormous network of cell-signaling receptors responsible for regulating various important functions, such as mood, inflammation, and circadian rhythms.
The best thing about cannabidiol is that it doesn’t interact directly with CB1 and CB 2 receptors of the endocannabinoid system. This ensures that there are no psychoactive activity pr intoxicating effects redolent of “marijuana highs”.
CBD User Demographic Statistics
Cannabidiol is popular among all age groups, but its usage is highest in the young demographic. Only 8% of people 65 or older than 65 use cannabidiol, whereas 39% of users are aged between 18-34 years.
Out of these. 10% of US citizens use the compound habitually.
The curiosity of trying out CBD is highest in the 18-29 demographic, with 40% willing to try out CBD at some stage in their lives. In terms of income groups, CBD usage is evenly distributed. However, only 17% of people have used CBD in this selection.
CBD Statistics in United States
Western states are more open to the use of CBD. 27% of total cannabidiol users live in the western states, with 18% of this population belonging to the Midwest.
Colorado, in particular, is the epicenter of cannabidiol activity famous for having some of the biggest CBD companies in America.
Ethnic CBD Statistics
When it comes to ethnicity, white Americans lead the frontlines. According to the Brightfield Group. 66% of CBD users were white Americans.
The proportion of male and female CBD users is 55 and 45% respectively. Men are more open to the use of the compound because of greater access and a heightened capacity to take more risks.
This is a surprising one for many: Most CBD users are in committed relationships (61%), while 43% are single. Generally, this is because CBD is different from THC — the main psychoactive component in cannabis.
The compound doesn’t have the same intoxicating effect as alcohol or other mind-altering substances, which is why it has a lower likelihood of disrupting relationships. The World Health Organization (WHO) published a critical review, confirming that CBD doesn’t have any substance abuse potential whatsoever.
CBD support in the US
Many Americans vehemently support CBD use. They consider the compound a natural and safe alternative to conventional medications. More than 80% of US citizens endorse cannabidiol’s therapeutic properties, out of which 50% deem it a superior alternative to pharmaceuticals.
CBD Market Projected Growth
According to recent projections, the CBD market is going to explode in the next five years. In 2017, the compound’s sales soared to 845 million$, climbing to $ 1.9 billion in 2019, before COVID-19 struck the worldwide economy with loud rage.
Right now, CBD edibles are bringing in better numbers than CBD beverages, but the state of both is promising. Right now, the CBD edible market stands at $4.1 billion in sales, and the beverage market is expected to reach $1.4 billion in sales in 2023.
However, it would be best if you trod CBD edibles with caution. Many CBD edible products have been shown to contain high levels of psychoactive THC. Some people have reported having really unpleasant symptoms after taking edibles in high doses.
Google is recording an exponential increase in CBD searches. Since 2017, searches surrounding the compound’s usage, benefits, and science have more than quadrupled. The term “CBD gummies” was one of the top food items searched on google in 2017.
Consumers are also using cannabidiol to treat the anxiety and seizures of their pets, which has erected a whole new market for content marketers. More and more blogs are selecting cannabis as their prime niche and the proportion of cannabis content writing specialists has blown out.
CBD for Senior Citizens Stats
Senior citizens have been one of the biggest beneficiaries of CBD’s benefits. 64% of seniors report a significant improvement in overall quality of life after using CBD.
Moreover, 61% of men aged 65 or older stated that CBD played a pivotal role in managing their chronic pain. 45% regarded the compound as an effective sleep aid and around 8% said that it improved learning, memory, and overall cognitive function.
CBD has also played a big role in helping chemotherapy symptoms. Some of the most common symptoms patients face during chemotherapy are vomiting and nausea. Cannabidiol has been known to manage both.
Some studies have suggested that it also possesses potent analgesic properties. Therefore, it could be used as a treatment in palliative care. Some research even indicates that it’s a better pain-reliever than conventional options, namely morphine.
No one can call CBD a health fad anymore. It is taking the health and wellness industry by storm. Public forums, like Facebook and Reddit, are filled with anecdotal accounts of the compound helping with anxiety, chemotherapy symptoms, arthritis, epilepsy, and a whole host of other medical issues.
The compound was largely ignored in the early 200s because of misplaced stigmatization and a lot of confusion surrounding consumption. But, now legalization has changed things and the compound is getting the public and scientific attention it has deserved since its discovery.
That said, CBD science is still in its infancy. Most of the research is not concrete. Researchers are still trying to find out whether the compound is the miracle cure everyone says it is. Until we have conclusive evidence, there’s a lot of uncertainty surrounding the compound’s future.