10 of the Latest Facts and Stats About CBD
Cannabidiol, CBD, is having its moment, and it’s not just a passing trend. Over the past few years, CBD has moved from the fringes to the mainstream, popping up in everything from your morning coffee to skincare routines. As society shifts its perception, people are embracing CBD for its potential benefits like relaxation, pain relief, and anxiety reduction, all without the high that comes with THC.
CBD’s rise is no coincidence. As a non-psychoactive compound found in cannabis, CBD offers the potential for relief from anxiety, pain, and more—without the high that THC brings. It’s a go-to for anyone seeking natural wellness options that fit into their daily routines. But before we dig into the stats and trends driving CBD’s surge in popularity, let’s break it down: What exactly is CBD, and why is everyone buzzing about it?
What Is CBD?
CBD is short for cannabidiol and is one of over a hundred cannabinoids found in cannabis plants like hemp and marijuana. Unlike THC, which is the compound responsible for the “high” associated with cannabis, CBD is non-psychoactive, meaning it won’t alter your mental state or make you feel intoxicated.
CBD is popular for its potential wellness benefits, including relief from anxiety, pain, inflammation, and sleep issues. It is often used in various forms, such as oils, edibles, creams, and capsules, making it a versatile option for those looking to explore natural alternatives for health and wellness.
With CBD’s growing popularity, it’s no surprise that more people are turning to this cannabinoid. But what’s really driving this surge in popularity? Let’s dive into some key facts and stats about CBD to see how it’s shaking up the market. From evolving public attitudes to eye-opening industry growth, these numbers give us a glimpse into where CBD is headed and why it’s here to stay.
CBD Statistics
1. 64% of American Adults Have Used CBD Products
CBD and marijuana are having a moment in the U.S., with medical use getting the green light in 33 states, four territories, and D.C.—the latest being the U.S. Virgin Islands in 2019. When it comes to kicking back and using it recreationally, it’s entirely legal in 24 states, three territories, and D.C. This shifting legal landscape is definitely fueling the CBD craze across the country.
Right now, over 64% of Americans have given CBD or CBD-derived products a shot, and about a third of them are coming back for more. As more lawmakers and healthcare pros warm up to the benefits of CBD, you can bet that the number of users will only keep climbing.
2. 57% of Americans Support the Legalization of Marijuana
Historically, CBD was mainly backed by the medical community, with most support centered on its health benefits. This cautious approach and solid research helped push medical CBD into the spotlight and gain approval.
Fast forward to now, and the vibe is changing. Around 57% of American adults are down with the idea of legalizing recreational marijuana, too. But, even with all the growing hype, it’s still a waiting game to see if the feds will ever give the full thumbs-up for both medical and recreational use.
3. 65% of American Adults Use CBD for Stress Relief
CBD has a reputation for bringing on the chill. Around 65% of adults aged 26 to 41 are turning to CBD to keep stress in check. But the reasons for using it shift with age.
For the 18-to 25-year-old crowd, it’s all about easing anxiety, with 55% reaching for CBD. Meanwhile, 62% of the older crew, ages 42 to 57, are in it for pain relief. No matter the age, there’s a CBD vibe for everyone looking to feel a little better.
4. Global Pet CBD Market Grows at 31.8% Yearly
As more research rolls in on CBD’s benefits, it’s clear that our furry friends can get in on the action, too. Vets have found that CBD can help ease pain and other conditions in household pets, especially dogs. CBD for dogs has been holding strong, making up about half of the market sales yearly. With that momentum, the pet CBD scene is expected to grow by 31.8% annually through 2030. That’s a whole lot of chill pets!
5. The CBD Market Revenues at $20.94 per person
The U.S. CBD market is on a significant upswing, expected to hit—or even exceed—six billion dollars as laws keep loosening up around medical and recreational use. Some experts call for the market to reach $6.93 billion by 2029, which isn’t far off. Right now, the CBD scene is pulling in about $20.94 per person, and with demand only getting stronger, those numbers are set to skyrocket worldwide.
6. CBD Accumulated Over 6.4 Million Searches Online
CBD is making waves, especially in the world of health and wellness. You can see the buzz with more and more people searching for it online—over 6.4 million Google searches popping up with questions and buying intentions. It’s no surprise, given the rising number of studies pointing to CBD as a solid alternative to traditional psychotropic drugs and painkillers.
7. The CBD Market Could Grow at 15.8% Annually
The global market for CBD and CBD-derived products is booming. It is currently valued at around $7.7 billion and is projected to grow at a 15.8% annual rate through 2030. With changing laws, the rise of global e-commerce, and more people looking for alternatives to pricey meds, it’s no wonder wellness brands are jumping on the CBD train. The convenience of online shopping has made CBD more accessible, helping drive these numbers up fast.
8. North America Contributes 48% of the Market Growth
Aside from Mexico and Canada, most North American countries still consider CBD and marijuana illegal. Despite these restrictions, North America is the top contributor to the global CBD market, accounting for 48% of its growth. While CBD and marijuana remain federally illegal in the U.S., the country is still one of the major forces driving market expansion alongside Canada. Other nations like China, Germany, and the U.K. are also playing significant roles in the global growth of CBD.
9. The Approval of Cannabidiol Reduced Epilepsy Cases by 51%
Research has shown that CBD’s calming effects extend to severe conditions like seizures and epilepsy. With solid evidence backing these claims, the FDA approved Epidiolex—the first plant-based, medical-grade CBD treatment specifically for managing seizures in certain conditions.
Since its approval, Epidiolex has made a significant impact. Studies reveal it reduced the frequency of seizures by 51%, compared to a 39% reduction before the treatment was available. This approval marks a big step forward in using CBD as a legitimate medical treatment.
10. The Largest CBD Company Has 3.18B Market Cap
The North American CBD market is dominated by some heavy hitters, with the top four companies hailing from the U.S. and Canada claiming the fifth spot. Leading the pack is Innovative Industrial, the biggest CBD company in the States, with a market value of $3.18 billion. Right behind them is Green Thumb Industries, another U.S. powerhouse in the CBD game, with a market cap of $2.04 billion.
CBD Products at CODES
The CBD scene is constantly expanding, and at CODES Dispensary, we’re here to make exploring it fun, easy, and affordable. Whether you’re into pre-rolls, edibles, flower, or just curious to try something new, our shelves are stocked with everything you need. Our knowledgeable budtenders are on hand to recommend the perfect CBD products to match your vibe and needs.
And the perks don’t stop there. We offer daily deals, special discounts, and exclusive offers through our loyalty program so you can enjoy more while spending less. Swing by one of the many CODES locations and explore the limitless possibilities of CBD at CODES.
Key Takeaways
- CBD’s Popularity Surge: With 64% of Americans trying CBD, its benefits, like stress relief and pain management, are driving its rise.
- Market Growth: The CBD market is booming and expected to grow 15.8% annually through 2030, driven by legal shifts and online accessibility.
- Wide Applications: CBD’s versatility spans from wellness to pet care, with CODES offering diverse products and expert guidance to find your perfect fit.
