A new report provides a hopeful picture of the current and future landscape of CBD in Europe. We explore how, when and why (or why not) people use CBD products.
CBD-infused products are popping up everywhere, from your local grocery store to your high street pharmacy. Ability Benefits of CBD It is well reported, bHow many people incorporate it into their daily routine? Is there a growing appetite for CBD as cannabis (and the attitudes around it) become increasingly liberal?
A recent report looking at the CBD market across Europe and the UK found that CBD is now one of the most popular wellness products in Europe.
the European Convention on Biological Diversity Report, Published by industry analysts, Partners estimates that in 2022 just under €1.7 billion of CBD products were sold in Europe. The figure is expected to rise to just under €2.6 billion by 2026.
So what is behind the success of CBD?
The authors attribute it to:
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- The increasing percentage of people who say they use CBD products.
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- The reappearance of CBD products on European shelves after the Court of Justice of the European Union (CJEU) Rule.
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- Continued sales of food and beverage products under legally “gray” conditions, as well as an expected increase at the end of 2023 when new fully certified CBD products will be marketable.
When it comes to CBD use in Europe, 11% of the 5,234 people surveyed used a CBD product in the past 12 months and 4% claim to have used CBD at some point in their lives (but not in the past 12 months for various reasons which are further elaborated in the report).
Awareness of CBD in Europe is high, with more than half of the people surveyed having at least heard of CBD products. This is likely due to better knowledge about the safety and efficacy of CBD, its inclusion in FMCG product portfolios and the increasing prevalence of CBD products in mainstream retailers.
Dive into the data below and explore seven key consumer trends in CBD from the report.
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Which country in Europe is leading the way in CBD use?
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The highest prevalence of CBD use in the past year was found in Poland, where nearly 15% of survey respondents indicated they had used a CBD product in the past year. This is in line with the development of Poland as a center for the production and distribution of CBD products.
Italy showed the lowest percentage of CBD use last year at 8%, although this may be because CBD is known in Italy as ‘light cannabis’ and some consumers may not recognize this as a CBD product biological. These findings confirm that CBD is now a commonly purchased CPG product in most European countries, despite the lack of regulation and no enforcement of laws.
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How many times a week do people use CBD?
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While 11% of respondents indicated that they had used some CBD products in the past year, about 35% of CBD users rated their use over the past 12 months as infrequent or occasional, meaning less than once a month.
This number speaks to the amount of people on the continent who are, at least, curious about CBD products and who are willing to try them or rely on them for short periods throughout the year.
About 39% of users indicated that they use CBD one or more times per week. This represents a portion of the population who have incorporated CBD products into their daily lives, often as part of their wellness routine.
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How old are most CBD users in Europe?
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In general, CBD is more commonly used by the younger generation rather than those Age 50 and over. This is normal for new industries, as young consumers are more open to trying new products while older generations can take longer to adopt them.
A respondent aged 18-24 in Europe is more likely to report using CBD in the past year than a respondent in the 50-60 category. In addition, the percentage of people who have heard of CBD is much higher for the younger generations, as new trends spread faster, especially those related to wellness.
The prevalence of people who had never heard of CBD peaked in the 51-55 age group, while people in the 18-24 age group were most “informed” about the products.
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How do people consume CBD?
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Ban Partners surveyed 955 CBD users about their purchasing habits to understand the current state of the market.
In general, it is clear that Oils and dyes It remains the most popular product format, with over 56% of CBD consumers in the past year reporting using both. This makes sense since oils are a familiar product format in the wellness category. The oils are also easily dosed and are commonly available throughout Europe, partly as legally “gray” dietary supplements, but also as cosmetics, which can be used topically and, in some cases, taken like regular CBD oil.
chopsticks flowers It is currently the second most popular way to consume CBD products on the continent, overtaking food and drink forms respectively. As discussed above, CBD flowers are regulated very differently in different countries. In some countries, such as the United Kingdom, CBD blossoms are, in theory, unmarketable particularly as a substitute for tobacco, while in Italy and Spain more liberal regulations have allowed the “light cannabis” market to flourish.
The use of different CBD products varies greatly across age groups. The split can generally be traced along the lines of familiar product formats such as oils, capsules and pills used by older age groups and product formats more modern on European shelves such as herbal items, flowers, electronic cigarettes and vapes used by younger age groups.
This can be expected to stabilize in the coming years. like CBD flowers are becoming a more accepted product For consumers, regulators are better able to distinguish between legitimate and illegal products, and more stores will start offering them. It is also expected that new and inhaled product forms of flowers and vapors will be properly regulated in upcoming updates to tobacco regulations in Europe.
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Why don’t people in Europe use CBD?
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Respondents who indicated that they had heard of CBD, but had not used it in the past 12 months, were asked their reasons for not using CBD. According to the report, the main reason people do not use CBD products is a lack of confidence that the wellness effects, which are much discussed in the media and in CBD marketing, will not be effective for them. This may be true in many cases.
However, some factors may be misleading to consumers, such as lack of awareness about it dosing, For example, when consumers try too small amounts or try an insufficient amount of time before giving up due to a lack of beneficial effects.
Price is the second most common reason why consumers don’t use CBD products. As more products are hitting the shelves especially after the legal products appear new foodsPrice pressure is likely to lower the cost of CBD products in Europe, which may encourage consumers to try them.
The next three most common causes can be directly addressed by the CBD industry; Increased marketing around where to source CBD products, increased education about CBD legality, and finally, increased education in terms of the latest studies on CBD safety and effectiveness. Such initiatives would go a long way in solving these barriers for consumers entering the market.
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Are non-CBD users likely to try CBD in the next year?
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Each measure achieved by the ban partners, after surveying people across Europe, indicates that the number of consumers and the amount of consumption in Europe is still gradually increasing.
About 8% of people who have not consumed CBD products in the past 12 months indicated that they intend to use them in the next 12 months. This will represent a massive influx of former and new consumers into the market. This is before considering the 35% of non-users who ‘stand on the fence’ about consuming CBD products in the next 12 months.
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Will CBD consumers continue to use in the next 12 months?
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Ban partners also asked current consumers how they feel their consumption will change in the next 12 months. A significant number (36%) of consumers indicated that they would reduce or stop their use of CBD products within the next 12 months.
This high turnover rate for the nascent industry is now manageable, but deserves close attention by operators, as ultimately reliability of revenue generation and a stable consumer base to support the industry will be essential.
Additional insight: CBD search trends on Google
The results show an overall trend of increasing interest in CBD purchases on Google Shopping across most European countries. Some countries have peaked in recent years, such as Italy and Germany which peaked in 2018 and 2020 although interest remains strong.
Germany is the country with the largest decrease in average interest in the past three years. This data compares favorably with the same trends seen in the United States, where a strong decline in interest in CBD has been recorded since 2019.
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