The popularity of CBD products is steadily on the rise – fourteen percent of people in the U.S. are currently using products that contain cannabidiol, according to a newly-revealed Gallup Poll.
Eighty-five percent of Americans aren’t currently using CBD or have never heard of CBD products.
That means one in seven people in the country say they personally use cannabidiol-based products.
CBD, or cannabidiol, is a substance that stems from the Cannabis sativa plant. The naturally-occurring chemical can be added to formulas like topical creams, oils and edibles. Though it comes from the same source as recreational marijuana, CBD is non-psychoactive and non-addictive. That means it won’t make users feel high.
Mounting scientific research and patient testimonials are drawing attention to CBD for its beneficial health properties. The substance has shown promising results in helping people diagnosed with anxiety, inflammation, depression, post-traumatic stress disorder, chronic pain and more. Meanwhile, the cannabis plant has been used for thousands of years to treat a wide range of ailments, such as insomnia, ADHD, nausea and seizures.
The 2018 Farm Bill, which was passed last December, legalized the selling of commercial consumer products derived from hemp. This means any part of the plant can be legally added to lotions, creams, oils, edibles and tinctures, as long its THC content is 0.3 percent or less.
Even federal agencies like the Transportation Security Administration are recognizing the growing popularity of natural substance. The organization now allows passengers carrying certain types of CBD products to bring them on flights.
While CBD may help relieve a number of medical conditions, 40 percent of users say they utilize cannabidiol products to relieve pain, and 20 percent say it helps them cope with anxiety. Eleven percent of users say it treats their insomnia and 8 percent say they use it to ease the discomfort of arthritis.
London-based global market research firm Technavio estimates that the CBD oil market will likely explode over the next few years, bringing in a total of $1.9 billion globally from 2018 to 2022.
While CBD appeals to health-conscious users of all ages, millennials were one of the first groups to board the CBD train – the demographic is currently buying the most cannabidiol-derived items across the world, and many are using it to cope with mental health conditions like depression, anxiety, PTSD and stress. An April survey found that nearly half of young adults would use CBD over prescription drugs to treat mental health disorders.
The expanding millennial population across the world is likely responsible for the recent sales boom. In the U.S., millennials also make up the largest group buying CBD, and those living in western states are even more likely to utilize it. Young millennials are even stronger supporters of CBD products – 20 percent of adults under the age of 30 use cannabidiol-based formulas.