Who are the dominant CBD consumers?
For decades, as a result of Hemp prohibition, the benefits of CBD remained largely unknown. However, with the recent changes to federal law, and the legalization of hemp nationwide, CBD products are beginning to assume a powerful position in modern mainstream American culture. It’s an industry that’s growing faster than any other in the U.S., broadening its reach to include newcomers of all ages. However, the most dominant CBD consumers appear to be united by one common cause… wellness. Sports professionals, baby boomers, and women, in particular, are the most influential CBD consumers to date. The pressure is on for brands and retail stores to invest in clear targeting and clever marketing strategies.
CBD and the Wellness Trend
CBD oil has gained popularity in recent years as a health supplement, mainly because of its analgesic and anti-inflammatory properties, but some studies have also argued its effectiveness in the treatment of arthritis, anxiety, depression, and even Parkinson’s Disease. Over the past two decades, the global drive toward a healthier lifestyle has been impossible to miss, and it just so happens that the medicinal properties of CBD neatly marry with this global shift. So, while the modern CBD consumer may differ greatly in terms of location and age, their desire to remain healthy, to improve quality of life, and to take better care of their bodies is what makes CBD so appealing.
The Shrinking Gender Gap
Let’s begin by taking a look at women. Women are the global health and wellness movement’s primary target, worth an estimated $4 trillion in 2017, so it’s no real surprise that some CBD brands have recognized the business potential behind targeting females.
A number of health and beauty brands have bottled the beneficial properties of CBD oils to create lotions, shampoos, food, drinks, and even herb-infused CBD oils or teas, designed to combat PMS by easing menstrual cramps, bloating, and mood swings, among other things, as offered by small, independent brands, like Rad Ritual and GeovanaCBD. Creativity continues with Foria Wellness, another recently-established brand, currently offering a broad-spectrum CBD oil, infused with botanicals and specifically designed to improve female sex life.
Global brands, like Sephora, have also recognized the potential for CBD-infused beauty and skincare products, launching a curated selection of hemp-derived products in February 2019. In fact, the hype surrounding CBD-infused beauty products has elevated the current offering from subcategory to real category in just a few months.
Baby Boomers Drive Demand
All B2C companies looking to successfully target the new CBD consumer, should know how the consumer behaves in some of the largest CBD consumer states across the country. For example, in California, it’s important to know that the 50+ age group was one of the fastest growing CBD consumer groups in 2018. Indeed, in the annual report published by Eaze, female baby boomers made up 29% of all CBD consumers in California., which is a fairly significant portion of the market share overall. CBD consumer growth among the 50+ age group is most likely attributable to CBD’s medicinal properties, with female baby boomers in California replacing their prescription drugs with the more organic CBD solutions presented to them via regulated dispensaries and standard retail outlets.
CBD in Sports and Mainstream Culture
One of the fastest growing markets for CBD thus far has been among consumers in professional sport. A number of sports figures, including UFC fighter Nate Diaz and Randy Moss, one of the greatest receivers in the history of the NFL, have cited the benefits of CBD consumption pre- and post- workout. As soon as hemp was legalized at the end of last year, and hemp-derived CBD products could be sold nationwide, the debate on the benefits of CBD in sport really opened up.
CBD is a compound that can help maintain energy levels and assist in the body’s natural recovery process. As a result, CBD products have what it takes to be incredibly beneficial for the treatment of painful muscles and joints, easing anxiety before a big performance or interview, for tackling inflammation. The more sports professionals learn about the healing properties of CBD, the greater the demand there is for CBD in the fitness industry. As such, CBD products, including topicals and sprays, designed specifically for consumers with a high interest in sports and fitness, can now be found in select gyms across the U.S. No doubt, access to these products will continue to grow.
What this Means for the Market
The legalization of hemp and hemp-derived CBD has made one thing crystal clear: the demand for alternative, natural remedies very much exists and will likely continue to grow over the coming years. With the industry expected to reach $16 billion by the end of 2019, the main concerns facing the market are scale and quality. With increased demand comes great responsibility, particularly in an industry offering health-related, wellness products. Growers, suppliers, distributors, and B2C brands will be held accountable for their products, which is why it’s vital that the CBD used to create all consumer goods can be traced back to the source.
As a vertically integrated supplier of CBD oil, distillate, and isolate, Point3Farma understands the importance of traceability, scalability, and accountability better than anyone. We run a tight operation engineered to uphold high standards in the face of huge demand. Everything from seed genetics to CBD extraction takes place on our 1,700 acre farm and processing facility, meaning that we supply a traceable product you can trust. Feel free to take a look at our range of CBD products or to get in touch with us directly for more specific information.