CBD Use As A Supplement Is Higher Than First Believed, Great News For Companies
Research from Cowen & Co. finds incidence of CBD use as a supplement is almost 7% of the American population, significantly higher than the company would have thought. A survey of some 2,500 adults found that 6.9% said use CBD as a supplement — and that’s much higher than the percentage of those who have tried e-cigarettes. As a trend line, this is important news for CBD companies.
Incidence of CBD use among Americans is higher than thought. This trend has intensified medici coverage of CBD. Companies such as stockmarketpress.com features coverage of CBD related stocks such as CBD Unlimited, Inc. (OTC PINK: EDXC), Canopy Growth Corp. (NYSE: CGC), New Age Beverages Corp. (NASDAQ: NBEV), GW Pharmaceuticals PLC (NASDAQ: GWPH), Neptune Wellness Solutions Inc. (NASDAQ: NEPT) (TSX: NEPT). Aurora Cannabis Inc. (NYSE:ACB) (TSX: ACB), Supreme Cannabis Co. (OTC: SPRWF) and OrganiGram Holdings Inc. (NASDAQ: OGI).
CBD Use As A Supplement Is Higher Than First Believed, Great News For Companies
The survey documents what the industry already knows: CBD use is growing and becoming a more accepted part of the mainstream in online, social media and brick-and-mortar sales in mass merchants and pharmacies. Cowen sees CBD use growing conservatively to 10% of U.S. consumers by 2025. That means 25 million consumers will be using CBD by then — implying a market of $16 billion by then. Analyst firm Jeffries estimates that CBD market will reach $130 billion globally by 2029. CBD Use As A Supplement Is Higher Than First Believed, Great News For Companies.
CBD Age Use Statistics Are Positive, Good News For Companies Such As CBD Unlimited, Inc. (OTC PINK: EDXC)
The research indicates that this is a phenomena targeted to consumers aged 18-34, but other market research finds that seniors also are using CBD to cure age-related ailments such as joint pain and sleeplessness. Some research projects a 125% YOY rate of growth over the next five years — but globally it may exceed that. CBD Unlimited, Inc. (OTC PINK: EDXC) in 2019 placed product on greater than 5,000+ mass market shelves, including pharmacies. CBD Unlimited, Inc. (OTC PINK: EDXC) is aggressively pursuing more market share in this quick-growing marketplace by adopting a seed-to-shelf strategy. CBD use as a supplement is higher than first believed, great news for companies.
CBD Research Indicates A U.S. Market Of $16 Billion Is Coming, Positive News For Companies Such As Unlimited, Inc. (OTC PINK: EDXC)
In this fast-growing marketplace, CBD companies are competing for increased market share. In CBD, consumers are facing new brands, safety and health claims and a variety of not well known manufacturers. As they face this tangle of CBD offerings, it is the CBD companies which need to further educate them and win the word of mouth competition. Some consumers are educating themselves with U.S. News & World Report indicating monthly Google CBD inquiry hits at 6.4 million — surpassing almost any other health topic or product.
Source: Stock Market Press
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