An estimated $5 billion was spent in the US on Cannabidiol (CBD) products in 2019 – an eye-popping 706 percent increase over the previous year. That figure is set to grow to $24 billion by 2023. As an audience insights agency, we set out to understand this evolving market.
Consumers’ receptivity to CBD use has been growing rapidly since the 2018 Farm Bill legalized industrial hemp production. Today, around 15% of adults in the US use CBD products.
To better understand this dynamic market, Bigeye conducted a national research study in January 2020. Our findings provide detailed information about CBD users’ attitudes and purchasing behaviors – offering actionable insights relevant to CBD product entrepreneurs, marketers, retailers, and manufacturers.
The US CBD Consumer
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