New research claims 7% of Americans already use CBD

  • Nearly 7% of Americans are already using CBD, survey finds
  • Researchers at Cowen estimate the CBD market could reach $16 billion by 2025
  • CBD most popular among 18-34-year-olds
  • Tinctures account for 44% of use, followed by topicals at 26%

New analysis has found that nearly 7% of Americans are already using increasingly popular cannabidiol (CBD) products.

Researchers at Cowen & Co. now estimate the CBD market could grow to $16 billion by 2025

Cowen survey 2,500 adults in a January consumer survey, finding 6.9% of respondents already use CBD as a supplement.

Cowen analyst Vivien Azer expressed her surprise at the survey’s results in a note:

“This initial response piqued our interest considerably, as it was much higher than we would have suspected.”

Cowen now “conservatively” estimates CBD use growing to 10% of U.S. adults (25 million consumers) by 2025.

This implies a potential of the CBD market reaching up to $16 billion in market opportunity.

The Cowen survey found that CBD use is highest among consumers aged 18 to 34.

The most popular form of consumption are tinctures, which account for 44% os users, followed by balms and topicals at 26%, capsules at 22% and beverages at 19%.

“This initial response piqued our interest considerably, as it was much higher than we would have suspected.”
– Vivien Azer, Cowen analyst

The U.S. farm bill, passed in December, makes hemp-derived CBD legal under certain circumstances.

The U.S. Farm Bill, which was passed in December, removed hemp-derived products (A.K.A CBD) from Schedule I status, legalising the cannabinoid on a federal level.

However, the Food and Drug Administration prohibits CBD from being marketed as a dietary supplement, as well as preventing retailers from mentioning CBD’s potential therapeutic benefits.

All CBD products sold in America must be approved by the FDA before it’s available to sell to customers.

Cowen’s groundbreaking research has given us an insight into the potential of the CBD market. With 7% of Americans already regularly using CBD products, it’s clear that the non-psychoactive cannabinoid is here to stay.

CBD has seen a similar explosion in popularity in the UK.

Recent reports indicate that in the UK, the number of people using CBD oil is estimated to have reached around 300,000 already, with some CBD organisations estimating that number could double in a year.

Despite the recent announcement that British trading watchdogs are planning to ban sales of CBD oil for up to 18 months, the non-psychoactive cannabis supplement is clearly making a big impact in the way British people view cannabis, especially as a potential medicine.

Have you tried CBD and had success? We would love to hear about your CBD success stories!