A Budding Industry: CBD Statistics & Trends (Infographic) – LoudCloudHealth

What is CBD all about and why are cannabis and hemp oil all over the internet? To help you understand this rapidly growing industry, we’re going to present you with some interesting CBD statistics and facts illustrated in this eye-catching infographic.

CBD or cannabidiol is one of the most important active substances in the cannabis (marijuana) plant. It can be obtained from different cannabis species, but it can also be synthetically produced. There are divided opinions on whether it works better on its own or joined with other cannabis compounds, yet one thing is for sure — its positive effects on human (and pet) health are undeniable, as CBD statistics are clearly showing.

At the moment, only CBD derived from hemp is legal under federal law while we wait for more research on the substance to begin.

We can observe CBD as an amazing cure, but we can also watch the changes in the industry. That is one serious venture and a lot of people would like to get a piece of that $20 billion pie (this is the prognosis for US collective sales of CBD by 2024).

With that in mind, here is our pick of:

Top 10 CBD Facts and Stats

  • The US CBD market had a marvelous growth of 706% in 2019.
  • 91% of Americans are in favor of legalizing cannabis for medical or recreational purposes.
  • CBD can help treat heroin addiction.
  • Most CBD oil products are made in the Middle East, Africa, and South America.
  • You cannot get addicted to CBD.
  • The market is filled with CBD products of questionable quality.
  • CBD oil production or distribution is a brilliant business opportunity, CBD statistics for 2019 report.
  • The pet CBD market increased by 946% between 2018 and 2019.
  • The most popular method of consuming CBD oil is sublingual administration.
  • Epidiolex is the only CBD oil that is approved by the FDA.

See what we mean? Take a look at the following infographic for more mind-blowing CBD trends.CBD Statistics - Infographic

CBD Facts and Stats That Should Be Common Knowledge

1. CBD is only the first substance among equals within the cannabis plant.

(Harvard Health) (UCLA)

The cannabis plant has over 500 compounds, including more than 100 cannabinoids. Yet, it is CBD that gets most of the praise due to its power to fight against a plethora of illnesses and conditions.

2. You cannot get addicted to CBD.

(WHO)

Having analyzed numerous studies, the World Health Organization confirmed that CBD does not have any addictive features, as opposed to THC.

3. Pure CBD is perfectly safe for usage.

(WHO)

Despite the fact that CBD benefits are officially recognized and it has no psychoactive effects, cannabis/marijuana is still proclaimed as a Schedule 1 drug by the US government.

This fact alone makes a lot of people doubt its safety, but there is no scientifically based justification for it. CBD is approved by the World Health Organization.

4. CBD effects are not universal.

(Mayo Clinic)

Even though CBD is not harmful by itself, that does not mean we all react to it in the same way, especially if one is already using some kind of medical treatment.

5. CBD health statistics about the entourage effect confirm CBD has a better effect when it is combined with other cannabis or hemp substances.

(ResearchGate)

While it is possible to purchase CBD without any other marijuana or hemp ingredients in the form of CBD isolate, CBD products are more effective when CBD works in synergy with THC, terpenes, and other substances found in the cannabis plant.

Whether the THC level is higher than the federally legal amount of 0.3% is not always important for the overall effect.

How Much Is the CBD Market Worth?

6. The US CBD market had a marvelous growth of 706% in 2019.

(Green Market Report) (Motley Fool)

Taking everything into consideration, the CBD craze shows no signs of stopping as the demand keeps growing.

That can be observed by looking at the actions of the biggest manufacturers. For example, Charlotte’s Web increased their hemp acres by 187% in order to satisfy the growing demand.

7. There were over a thousand brands of CBD products in the US market in 2017, based on CBD industry statistics.

(Forbes)

This includes 850 brands of marijuana-derived and 150 brands of hemp-derived CBD products. As the industry develops and the laws change, it is highly likely we are going to have even more of them.

8. Women are founders or general managers of over 75% of CBD brands.

(Green Entrepreneur)

This is one of the few industries, or maybe the only one in which female entrepreneurs clearly dominate.

9. CBD sales in the US are predicted to reach about $1.8 billion by 2022.

(Statista) (Statista)

This is even more impressive if one knows that in 2018 the US consumer sales were “only” half a billion dollars. In a similar fashion, overall US cannabis sales in 2018 were almost $10 billion.

10. The global CBD market is divided into hemp-derived and marijuana-derived types.

(Market Watch)

Judging by the current trends and the staggering industry growth, marijuana-derived products will own 80% of the total CBD market, even though hemp-derived CBD is legal everywhere as it is guaranteed not to contain over 0.3% of THC.

11. CBD industry growth estimates say the CAGR of the global CBD market will be over 30% for 2020-2024.

(Business Wire)

The financial benefits of cannabis legalization are reflected in the expected growth of $3.52 billion for the period. The compound annual growth rate of over 30% tells us CBD business should be a pretty safe investment.

12. Besides CBD oil, the products that are expected to increase their sales are cannabis edibles and beverages.

(Investopedia)

According to a survey, 58% of cannabis consumers are interested in edibles. In addition, CBD infused juices, coffee, water, etc. could be advertised as healthy and go hand in hand with the wellness movement.

13.CBD online sales make up 60% of the sales channels.

(LimeLight)

This statistic refers to hemp-derived products. Ordering online seems to be the easiest way to get the desired merchandise, so investing in CBD e-commerce would be very profitable indeed.

14. The market is filled with CBD products of questionable quality.

(Washington Post)

In a study from 2017, almost 70% of the analyzed products were mislabeled.

With the market brimming with new CBD products and an increasing number of cannabis retailers popping up, it is hard to supervise and control all CBD products, and track them from the field to the shop.

The major reason why this is so lies in the fact that the FDA is not in charge.

15. Interesting CBD oil facts: most CBD oil products are made in the Middle East, Africa, and South America.

(Market Watch)

Even though we are mainly focused on the surge of CBD within the country borders and expecting a multitude of hemp fields once all states regulate its production, CBD is largely produced and imported from some other corners of the Earth.

16. CBD oil production or distribution is a brilliant business opportunity, CBD statistics for 2019 report.

(Brightfield Group)

That doesn’t mean every single company is going to reap success, but it’s true the current climate is favorable. Learning how to invest in cannabis could be extremely lucrative.

1% of CBD companies experienced sales of $40 million and above. They also have over 1,000 stores. At the same time, 92.9% of CBD companies had sales of less than $1 million.

17. With over $1 billion, Colorado is the state with the highest cannabis revenues.

(CNBC)

Ever since the legalization in 2014, Colorado has been breaking records in CBD sales statistics and marijuana tax revenue by state reports. Overall, Colorado has earned over $6 billion over this period, with last year’s April cannabis revenue of $24.2 million.

18. When it comes to CBD products, the US industry had a growth of 40% in 2017.

(Fortune)

What is especially interesting is the fact that the CBD market is relatively new, and it is absolutely booming. Should cannabis become legal in the whole country, all the present forecasts would seem too low.

19. According to the CBD sales statistics for 2019, the US product sales were about $5 billion.

(Motley Fool)

The latest Brightfield report states that the CBD product sales will amount to $23.7 billion by 2023.

CBD products in the value of  $620 million were sold in the US in 2018, while 2019 CBD product sales were about $5 billion. YOY (year-over-year) growth was 706% for that period!

To this end, US sales of CBD are estimated to grow by 107% every year until 2023.

20. The retail position in CBD sales jobs is called a budtender.

(Fortune)

They work behind the counter and have to be well-prepared to answer a myriad of questions about all the different strains and types of products they are selling. The average salary for a budtender is $32,240 and that is almost $5,000 more than an average shop assistant.

21. The availability of CBD has increased by 80% in the USA, as shown by the results of CBD market analysis for 2018.

(Direct Selling News)

As for 2020, CBD growth remains to be seen. Even with the present state, this industry will continue to dominate the economy with its revenues. The Farm Bill has certainly done its magic, and there are already plenty of ways how to use CBD and how to buy it (online, delivery service, dispensary, etc.)

22. A cannabis worker earns more than an average American.

(CNBC) (Fortune)

Cannabis workers’ wages are 11% higher than the median wage, and certain positions are paid even more. A CEO of one of the top five cannabis companies has an average salary of over half a million dollars, for example. Dispensary managers earn $11,000 more than regular food service managers.

23. Pet-loving CBD statistics say the pet CBD market increased by 946% between 2018 and 2019.

(Brightfield Group) (NCBI)

Overall, the pet CBD product sales keep on rising. They were worth $32 million in 2018. That’s four times the sales’ worth in 2017 (“only” $8 million).

As the popularity rises, some estimates predict the US pet CBD market could be worth $1.16 billion by 2022.

CBD Demographics Stats

24. Women are more likely to start using CBD oil than men.

(Fortune)

According to the largest conducted CBD survey, the female population is more adventurous when it comes to trying out CBD products and more loyal, too. If they find them useful, women will most probably say goodbye to traditional medicine.

25. Baby Boomers adore marijuana.

(Washington Post) (Philly Voice)

Namely, Americans who are 55 to 64 years old have a higher probability of using marijuana than teenagers. Also, out of all age groups, they are willing to spend the most on both medical and recreational marijuana.

26. A survey on CBD user demographics shows 40% of Americans are interested in trying CBD.

(Cannabis Business Times)

Under certain conditions, of course. To become regular consumers, they wish for easier access and more explanations about its qualities. Moreover, some would first ask for a recommendation from their doctor. Therefore, there is a lot of interest with big potential for exploitation.

27. The most popular method of consuming CBD oil is sublingual administration.

(Mary Ann Liebert)

According to one study,  sprays, drops, and tinctures are usually taken under the tongue. Vaping is in second place, followed by pills and liquids. Smoking cannabis ranked fifth. It should be noted that the majority (62%) of the surveyed reported using CBD to treat medical conditions.

28. The demand for employees in the CBD oil industry rose by 76% in one year.

(CNBC)

The number of job vacancies is extremely high. Also, more than half of the openings are for skilled or technical workers such as product managers, audit insurance managers, and marketing managers. With the marijuana industry’s progress, we can expect some new industry-specific occupations to appear.

29. Colorado and Kentucky farmers are most keen on hemp and CBD production.

(Hemp Industry Daily)

These two states have the highest number of acres that were licensed for hemp production. In 2017, Colorado alone was responsible for over 50% of the national hemp production.

30. Statistics on CBD direct sales show that the majority of direct sellers are women.

(Direct Selling News)

As it turns out, job flexibility is very appealing to mothers who find it easy to balance work and family obligations in this way. For instance, Zilis company has 30,000 brand ambassadors, and 70% of them are female. The company is extremely successful, with a growth of over 500%.

31. Americans love shopping for cannabis on holidays.

(Green Entrepreneur)

The highest sales are reached on Green Wednesday (the day before Thanksgiving), 4/20 holiday, and Halloween.

32. CBD usage statistics say 44% of US consumers prefer oils and tinctures.

(Forbes)

Next in line are topicals and capsules, whereas edibles are in the last place. Oils and tinctures are preferred probably due to the fact they enter our system very fast. However, that may change in the future.

33. CBD gummies are the most popular form of CBD edibles.

(BDS Analytics)

Gummies are selling like hotcakes. According to CBD oil sales stats, CBD gummies experienced a growth rate of 98%, and high-CBD gummies are especially popular.

Consumers prefer them for their great taste and convenience. They come in a variety of flavors and colors, and it is relatively easy to consume CBD gummies. In addition, CBD is released slowly over time when you eat it, which may be very suitable for some, especially those dealing with chronic pain.

34. How many people use CBD in the US? 14% of adult Americans admitted taking CBD in 2019.

(Gallup)

That’s one in seven Americans. Most of them (20%) are between the ages of 18 and 29. Western states have more CBD users compared to the other areas — 21%. The South follows, with 13%, while 11% is the figure for the East and Midwest.

35. 91% of Americans are in favor of legalizing cannabis for medical or recreational purposes.

(Pew Research Center)

59% of the surveyed agree with the recreational and medical use, while 32% believe cannabis should be legal only for medical use.

In contrast, only 8%, or one in ten Americans, would like to keep the plant illegal for good, according to a cannabis survey for 2019.

CBD Fun Facts

36. 18% of millennials have put their trust in CBD hair and skincare products.

(Linkage)

Millennials absolutely love pampering themselves with CBD! While almost 20% are already using some sort of CBD beauty product, 48% are willing to test CBD on offer.

37. CBD can help treat heroin addiction.

(CNN)

A study conveyed on heroin abusers (who were using the drug for 13 years on average) confirms CBD has great potential. The group who were given CBD had two and three times fewer cravings compared to the placebo group.

Moreover, CBD reduced their cortisol (aka the stress hormone) levels.

38. Basic facts about CBD oil: the color can vary from clear, almost transparent, to almost black, and even be different from batch to batch.

(CBDOilUsers)

For example, pure CBD isolate is clear but broad and full-spectrum CBD oils can be golden, brown, and even very dark brown. Apart from the terpenes and other cannabis compounds, the color depends on the type of carrier oil and any additives.

39. Epidiolex is the only CBD oil that is approved by the FDA.

(DEA)

Epidiolex is nothing else than hemp-derived CBD oil, produced by GW Pharmaceuticals.

CBD health statistics confirm Epidiolex can be legally prescribed by doctors for treating Lennox-Gastaut syndrome and Dravet syndrome, two severe forms of epilepsy. The medicine is approved for children 2 years and older.

40. Celebrity endorsement is a powerful factor in CBD product sales.

(PR Newswire)

Olivia Wilde, Seth Rogan, Snoop Dogg, Jay Z, Wiz Khalifa, and Willie Nelson aren’t the only celebrities who are in support of the cannabidiol industry. Kourtney Kardashian, John Legend, and Mike Tyson are also firm believers.

By openly admitting to using CBD oil or by becoming entrepreneurs themselves, celebrities are increasing the CBD market’s worth.

FAQs

What is CBD oil good for?

(NCBI) (Healthline)

The list is an extensive one. Due to its anti-inflammatory, anti-oxidant, calming, and immune system booster properties, CBD is used for a myriad of issues: chronic pain, anxiety, seizures, arthritis, HIV, diabetes, ADHD, addiction, insomnia, and so on.

Its full purpose is yet to be analyzed fully, but so far the results are promising and it is well tolerated in adults and children (without the THC component, of course).

What is CBD in healthcare?

(UCH Provider)

On the one hand, CBD from hemp is legalized on the federal level in the US. It has a wide application. It is regarded as a supplement and as a medicine, depending on the form it’s it. For example, doctors are allowed to recommend CBD, but not officially prescribe it. On the other hand, CBD can be legally prescribed in the sense it is a part of a medicine regulated by the FDA (Epidiolex).

Healthcare statistics report CBD is not covered by medicare, but United Healthcare covers Epidiolex, which in its essence is CBD oil.

What part of the plant does CBD come from?

(AnandaHemp)

Everything but the seeds. CBD can be derived from flowers, stem, stalk, and leaves of the cannabis plant.

What’s CBD’s legal status worldwide?

(The Extract) (Talk Business)

It varies very much from country to country. For example, CBD is legal everywhere in the EU, but not in Slovakia. The form of the CBD product also matters, as well as if it’s hemp-derived or not and what percentage of THC it has.

Is CBD legal to use depends on the THC content of the oil. For the US, 0.3% of THC is acceptable in CBD products, but in the EU it’s 0.2%.

Final Words

The industry is advancing at an astonishingly rapid pace, making it difficult to keep track of all the increases in sales and revenues. CBD facts and the latest statistics really paint a very attractive picture, and you could make the most of it by investing in stocks, shares, or a start-up even.

Interestingly enough, women are present on both sides of the counter. They are very much present as entrepreneurs, and as consumers as well. The industry’s growth is followed by new vacancies, many of which have never existed before.

The progress made is amazing beyond comparison, and above all, CBD health benefits are proving to be real, so we are looking forward to more mind-blowing CBD statistics in the new decade.

List of Sources:

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