Kermit the Frog once said, “It’s not easy being green.” Maybe that was true at one time – but today, people are lining up to turn green, so Kermit would be in good company. And no, we aren’t talking about ecologically, though that’s certainly a trend too. Consumers are flocking to the benefits of CBD for medicinal, financial, and personal reasons. And consumer and market insight sheds light on this societal shift and why your brand needs to be aware of it!
CBD’s Surging Popularity
It’s easy to see CBD’s popularity among consumers. Since its legalization in 2018, sales of CBD have skyrocketed, with an estimated $11 Billion by 2024 in the U.S. alone.
With 78% positive sentiment among the public, the stigma once associated with marijuana – (and even medical marijuana) has been removed, as more purposes and benefits of hemp become known.
And it’s not just for those perceived as “hippies” or the wealthy anymore. This growing interest in CBD spans ages, demographics, and professions. Even politicians are chiming in to lend their support:
But what exactly are people using CBD for, and what are the benefits of being green?
Coffee, Cannabis, and Conversations
A quick analysis of over 3,842 stories surrounding CBD in Quid shows that the health benefits and applications of CBD are the focus of conversation. We can also see that there is a growing interest in skincare, edibles (CBD cappuccinos, anyone?), pet treats, and even its use among professional athletes.
Cannabidiol, or CBD for short, is derived from the Cannabis Sativa plant, also known as hemp or marijuana. Contrary to popular belief, hemp-derived CBD will not get one “high.” “CBD is the non-psychoactive portion of the plant, so you won’t have any effects like euphoria,” says Junella Chin, DO, an osteopathic physician and a medical cannabis expert for cannabisMD. “You won’t feel sedated or altered in any way.”
The endocannabinoid system, found in the human body, is used to balance much of our everyday functions, including hunger, pain, immune system and sleep. While believed to have been used as early as 2737 BC by Chinese doctors, and widely used by various cultures and countries around the world, it was banned in the 1920s and didn’t resurface in the U.S. (legally) until 1996 as medical marijuana. Today, the industry is inundated with articles touting the healing properties of CBD oils, vapes, edibles, and serums.
Consumers Going Green for Health Reasons
Multiple studies have shown that CBD is useful in decreasing chronic pain, such as arthritis, alleviating anxiety and depression, and regulating sleep patterns. Other studies suggest it can even lessen cancer-related symptoms, and help relieve nausea from chemotherapy, and more:
“CBD may offer an option for treating different types of chronic pain. A study from the European Journal of Pain showed, using an animal model, CBD applied on the skin could help lower pain and inflammation due to arthritis. Another study demonstrated the mechanism by which CBD inhibits inflammatory and neuropathic pain, two of the most difficult types of chronic pain to treat.”
Sales of CBD – via oils, vapes, lotions, capsules, and edibles – continues to grow at a staggering rate, as more consumers discover the healing power of “green.” And the conversation continues to increase and expand as the public becomes more aware of its many uses:
And beyond designated CBD Dealers, medical facilities are offering items for sale as well.
Green Beauty Basics
Known for its healing and antioxidant properties, many consumers are turning to CBD–infused skincare products, such as facial cleansers, lotions, and soaps, to fight acne, wrinkles, and the effects of hormones and aging.
“One test-tube study found that CBD oil prevented sebaceous gland cells from secreting excessive sebum, exerted anti-inflammatory actions and prevented the activation of “pro-acne” agents like inflammatory cytokines.”
And with many people concerned with the chemicals found in numerous beauty products, as well as the unethical testing on animals, making the switch to makeup made with CBD is a no-brainer.
And many name brand holistic animal companies are incorporating it in their pet products. CBD dog treats are being used to help relieve arthritis and hip pains in older canines, while the oil is proving effective in calming anxious pets during storms and fireworks.
“A small study published in 2019 found that epileptic dogs given CBD in addition to seizure medication had significantly fewer seizures than those that received seizure medication and a placebo.”
CBD and COVID-19
And finally, no discussion of anything right now would be complete without a mention of Covid-19. Consumer posts about CBD spiked around February 10th of this year – the same time that the Coronavirus began showing up outside of mainland China.
While there are no official claims or studies made, consumers are looking at not only traditional medicine, but green and alternative ones as well to protect themselves and their loved ones.
Any brands able to infuse products with this wonder drug would do well to explore its potential. The market is kind of like the Wild West right now, so keeping the pulse of where it shifts next will be important. Reach out and we’ll show you how to track both consumer and market intelligence around this, and other, relevant topics!