During this difficult time, the use of cannabinoids—and CBD in particular—has risen sharply: many Americans are now using it to manage or relieve the stress and anxiety caused by these challenging times.
25% of CBD users discovered it during the pandemic
Nearly one in four CBD users in the United States has started using CBD in the past six months, representing 9 million new users.
In addition, one in three CBD users (approximately 13.4 million U.S. adults) tried at least one new type of product during this period, according to a national study of CBD users conducted by the cannabis market research firm High Yield Insights.
This October 2020 survey reflects the usage habits and lifestyles of more than 35,000 American adults, including 4,200 current CBD users, 4,000 former users, and 13,500 people who expressed an interest in learning more about or trying CBD flowers.
Need to manage stress, sleep, and pain
During this period, the use of CBD is attracting more and more Americans who are seeking to alleviate or address a variety of issues:
- Pain relief (58%).
- Anxiety (58%)
- Relaxation (48%)
- Sleep(37%)
- General well-being (30%)
In addition, consumers have changed and adapted how they use CBD:
- 25% of Americans who now use CBD were introduced to it in the past 6 months
- 50% of U.S. CBD consumers have tried at least one new product format in the past six months
- 46% of long-term CBD users have purchased at least one new type of CBD product in the past six months
- 17% of long-term CBD users have added two or more product formats to their regimen since the start of the pandemic
The survey also found that newcomers to CBD have a distinct profile: recent users are more likely to be women, many of whom are retired.
Nearly two-thirds of retired CBD users began using CBD within the 6 months leading up to October 2020, and nearly 60% of new users who started taking CBD since March have used gummies.
"Although traditional new entrants are more likely to enter the market with oils and CBD creams, new CBD users since March were more likely to turn to supplements like gummies to alleviate increased stress," said Alexandra Curley, a senior consultant at High Yield Insights.
However, newcomers to CBD face challenges: two-thirds of “COVID Commencers” say they are still trying to find a product that works best for them. While CBD companies hope to attract new users, price sensitivity could slow sales, as only 13% say they are willing to pay a premium for specialty CBD brands.
Finally, “COVID Commencers” demonstrate a need for ongoing education about the uses and benefits of CBD, as one in 10 cannot define the difference between CBD and THC, nor distinguish between hemp and cannabis.
