Primary appeal goes to fringe consumer demographic
CBD might be one of the hottest food and beverage industry trends in 2019, but it’s still seen as primarily appealing to a fringe customer demographic. However, according to new research by market research firm the NPD Group, almost 20% of American adults have tried CBD products (where they are legal of course), and researchers expect this number to continue to rise along with the prevalence of cannabidiol in snack foods and beverages.
The reason for trying these new products may be just as important as figuring out who they’re appealing to: According to the NPD Group 40% of those who have tried CBD are doing so for health reasons, a statistic that’s further compounded by data that suggests that regular CBD users are more likely to have chronic medical conditions such as cancer, autoimmune diseases, and ADD/ADHD.
“I think CBD won’t materially change why consumers go to restaurants,” Darren Seifer, food and beverage industry analyst with the NPD Group said. “Where I think CBD could initially present itself is in snacking and specialty beverages for those who are seeking function in their foods and beverages … it’s still not taking the industry by storm and represents a niche following for now.”
Contact Joanna Fantozzi at [email protected]
Follow her on Twitter: @joannafantozzi
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