Cannabidiol or CBD was named as one of the top 11 trends that will shape the CPG industry in 20201. The 2017 US government approval of CBD products has allowed CBD products to become accessible to the general public. Over the past 3 years, the availability of CBD products and the consumer acceptance and desire for these products has increased at an extremely rapid pace.
Globally the CBD market is expected to reach a value of $89 billion by 20262.
North America accounts for the largest market share and the CBD market in North America is expected to rinse from $9 billion (2017) to reach $47 billion by 20273,4. A key driver of this continuous growth has been mainstream acceptance of CBD by both medical professionals and the general public. 25% of American report having tried a CBD product and one in 7 Americans report using CBD products daily 5,6. 58% of US adults reported being familiar with CBD and its potential health benefits, although confusion between CBD and THC remains high7.
CBD has a wide range of applications including pharmaceuticals, personal care, cosmetics, nutraceuticals and food and beverages. CBD’s use as a pain reliever is the most widespread (40%), followed by anxiety (20%) and insomnia (11%)6. Across all age groups, the most common form of CBD is as edibles 35%, followed by drop/sprays (30%) and vaping (30%)7.
For CBD products designed for consumption, a challenge can be the after taste. Consumers often complain of a bitter after taste and slight burning sensation. Tastes Natural has a proven record of success working with cannabis products to reduce these negative taste attributes with TruClear and TruSweet. Our Tru products have successfully been used across the full spectrum of applications including gummies, sub-lingual strips, sprays, drinks and tinctures. Contact Tastes Natural for more information and to request a free sample of TruClear and TruSweet.
- Prokop H. 11 Trends That Will Shape the CPG Industry in 2020. CSP Daily News. https://www.cspdailynews.com/general-merchandise/11-trends-will-shape-cpg-industry-2020. Published January 2, 2020. Accessed May 18, 2020.
- Cannabidiol Market revenue worth over USD 89 Bn by 2026: Global Market Insights, Inc. GlobeNewswire News Room. https://www.globenewswire.com/news-release/2020/02/20/1987618/0/en/Cannabidiol-Market-revenue-worth-over-USD-89-Bn-by-2026-Global-Market-Insights-Inc.html. Published February 20, 2020. Accessed May 18, 2020.
- Increasing Growth, Acceptance Move CBD Market Toward Mainstream. PR Newswire: press release distribution, targeting, monitoring and marketing. https://www.prnewswire.com/news-releases/increasing-growth-acceptance-move-cbd-market-toward-mainstream-300827691.html. Published April 9, 2019. Accessed May 18, 2020.
- Cannabidiol Market Size Analysis: CBD Industry Growth Report, 2025. Cannabidiol Market Size Analysis | CBD Industry Growth Report, 2025. https://www.grandviewresearch.com/industry-analysis/cannabidiol-cbd-market. Accessed May 18, 2020.
- Gill LL. CBD Goes Mainstream. Consumer Reports. https://www.consumerreports.org/cbd/cbd-goes-mainstream/. Accessed May 18, 2020.
- Brenan M. 14% of Americans Say They Use CBD Products. Gallup.com. https://news.gallup.com/poll/263147/americans-say-cbd-products.aspx. Published April 8, 2020. Accessed May 18, 2020.
- Silvia A. What Do U.S. Consumers Think About CBD-infused Products? 4A’s. http://aaaa.org/u-s-consumers-think-about-cbd-infused-products. Accessed May 18, 2020.