Along with the steady growth of CBD consumers, a market predicted to grow almost 700% in 2020 to be exact, there has also been a rise in consumers who are ‘CBD curious’. As more of us become intrigued by the plethora of potential benefits of CBD, it is becoming increasingly difficult to comprehend who the CBD consumers are.
Over the last decade, there has been an increase in interest among consumers in products that positively impact their health and wellbeing. As CBD is a naturally-derived ingredient, it wouldn’t be strange for most brands to jump to a conclusion about the ‘perfect CBD consumer’ being one who is wholly focused on health and wellness. However, having spent a year studying the CBD space before the launch of Kolibri CBD, I found that this might not be entirely true.
Let's talk numbers
A recent article revealed that one-third of adults surveyed believed that CBD was banned in the UK, with 8 in 10 of them describing the legal compound as ‘dodgy’. The study further revealed that 67% of the women aged between 45 and 60 have taken or would consider taking CBD oil, a stat that really surprised me.
A trend that I believed to be widely backed by a younger audience seems to attract people from all age groups. The study also revealed that only 21% of those aged between 25 and 30 would consider trying CBD, falling under the ‘CBD Curious’ demographic. With so many new CBD products seemingly aimed at the younger age bracket, why is it that those over the age of 45 are at the forefront of the movement?
An explanation of the numbers
Each and every CBD product may claim to help aid something different, but the general consensus is that that cannabidiol, and more specifically CBD oil, can be great at relieving anxiety and help alleviate chronic pain and illnesses, as Healthline explains. If studies do reveal these to be the potential benefits of CBD usage, it does seem natural that those aged over 45 are using CBD products more often than those under the age of 40.
As a potential alternative antidote, I am not surprised that those dealing with health issues are choosing to try out a readily available alternative that is natural and plant-derived. Moreover, CBD products are available on the high street and on the internet, as opposed to many medications that are pharmacy-prescribed. Food and Spark undertook a survey which indicated that “78% of over 45s said they thought CBD products would be helpful with medical issues.” a stat that backs up these thoughts.
New products are being launched into the market daily, including CBD wellness drinks, facemasks, infused food products and new, innovative oils. University students, recent graduates and young, working adults may be less inclined to try these sorts of ‘promising products’ because they don’t often have the expendable income to try them out and those who do may not be re-purchasing them regularly or using them as an alternative for a secondary medical product.
What does this mean for the future of CBD?
The consumption of CBD is still a topic that is crowded by confusion and at times, information that can be misleading. The rise of brands, companies and products that are innovating their offerings and dispelling the confusion around these products will elevate this somewhat confusing industry and will introduce the use of CBD to a younger and often more free-thinking consumer range.
With the introduction of trendy products and brands that are willing to step out of their comfort zones to target an all-together new and rapidly changing audience, I think 2020 will see a huge rise in the experimentation of CBD for those within the lower age bracket. There has already been “11% rise in the consumption of CBD products in the last year” according to a recent study on Business Leader. It is already happening for other fast-moving trends like the rise of no and low and alcohol-free alternatives.
With the launch of my own alcohol and sugar-free drink Kolibri, I have seen first-hand the sorts of changes these somewhat controversial trends can go-through and the fast turnaround we can see on audience types.
I am excited to look over these reports at the end of 2020 to see the changes the industry has had which I predict will include more well-performing and leading CBD products, a wider range of consumers and a clearer understanding of the product.
About the author:
Kamila is a bestselling author of “Bespoke. How to radically grow your bar and restaurant business through personalisation”, and passionate trend-spotter for the UK Eating Out market with thousands of followers on her widely popular blog www.Bespoke.World.
With a decade of hands-on experience collaborating with hospitality influencers and insight experts and background in setting strategies for leading brands, Kamila has become the industry champion for truly bespoke and guest-centric experiences.