CBD use is most common in populations ages 18-34, according to a recent SingleCare survey.
And the numbers nearly double for adults who have tried it once or more. According to a 2019 Consumer Reports CBD survey:
The CBD market exceeded $4 billion in 2019, according to a study by the Brightfield Group, and they expect the industry to top $25 billion by 2025.
Typically, these effects aren’t dire, but they can be inconvenient and disruptive to a person’s everyday routine.
How much money is spent on CBD?
According to our SingleCare survey, nearly half of CBD users prefer oils/tinctures, lotions/balms, and gummies. But there’s a growing market for CBD edibles.
America’s CBD market has a near-vertical trajectory. With the legalization of recreational and medical marijuana in numerous states, an increasing number of people are looking into the benefits of cannabis, and CBD sales reflect that interest.
That said, it has shown efficacy in treating chronic pain and anxiety (two of its most common uses), as well as insomnia and arthritis. And the only FDA-approved medication that contains cannabidiol so far is Epidiolex , which treats childhood seizures associated with Dravet Syndrome or Lennox-Gastaut Syndrome in patients two years of age and older.
CBD statistics by method
While it shows plenty of promise in treating various conditions, “it is not a one-size-fits-all [remedy] to treat specific conditions or symptoms of those conditions for every individual,” says Manisha Singal, MD, the founder of Aethera Beauty . “Research on the benefits and action of CBD in topical formulations as well as ingestible forms is ongoing. That experimentation is in its preliminary stages and there is a long way to go. The medical potential for CBD and other cannabinoids is undeniable, but medical research takes time and careful analysis.”
Here’s the big question: is CBD legal or not? The laws around cannabis are frequently changing and vary from state to state. CBD derived from hemp is legal, as long as it meets certain requirements. The Agriculture Improvement Act of 2018 (AKA the 2018 Farm Bill) allowed for the production and marketing of hemp-derived CBD products without federal regulation as long as they contain no more than 0.3% THC. But these products should not be labeled or marketed as medications. The FDA has only approved one CBD-based drug (Epidiolex), so the sale of other CBD products as drugs for the treatment of specific medical conditions is not yet legal.
It is expected that U.S. consumer sales of cannabidiol (CBD) will reach around 1.8 billion U.S. dollars by 2022, which would represent a significant increase from around half a billion U.S. dollars in 2018. Following a similar trajectory, sales of legal cannabis in the U.S. are projected to hit 23 billion U.S. dollars in 2025.
Cannabidiol is a naturally occurring substance found in cannabis. However, CBD does not cause any of the psychoactive effects that come from another active ingredient found in the plant: tetrahydrocannabinol (THC). The health benefits of the plant extract continue to be examined, and the World Health Organization states that CBD exhibits no effects indicative of any abuse or dependence potential. The CBD retail industry is already flourishing, with a wide range of products marketed as treatments for chronic pain, anxiety, and depression.