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Monday, May 29, 2023

Is 57% the weed tipping point?

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New Frontier Data released a May 2 report titled “Cannabis Consumers in America 2023: Part 1.” The study delves into the diverse demographics and trends of contemporary cannabis consumers.

During a press release, Gary Allen, CEO of New Frontier Data, claimed that more than 42% of adults who have used cannabis plan to use it again. Allen also explained that cannabis consumers fall under a wide range of genders, age groups, political affiliations, and economic backgrounds.

The increase in cannabis use can be attributed to more acceptance and openness to cannabis use among Americans. This has created great opportunities in new and emerging markets. According to the report, more than 42% of adults in the United States have used and are likely to repeat cannabis, and another 15% have expressed interest in trying cannabis in the future.

Survey details

The survey was carried out in the first quarter of 2023 with a sample size of 5,534 individuals. Of these individuals, 1,176 were identified as non-users of cannabis, while 4,358 were identified as consumers of cannabis.

Following the survey data, about 37% of American adults currently use cannabis and are categorized as “current consumers”. This group represents individuals who use cannabis at least once a year and plan on continuing use. On the other hand, 30% claim that they have never used cannabis and have no interest in trying it. Interestingly, 15% of respondents were inclined to try cannabis for the first time, while 13% were former enthusiasts who have since sworn off to take it up.

Meanwhile, New Frontier Data previously analyzed American consumers in 2022. Comparing the results, the percentage of “current consumers” increased from 39% last year to 42% in 2023. On the other hand, the number of individuals who have not used cannabis Absolutely and do not intend to go down from 34% in the previous year to 30% in 2023.

The study analyzed the responses of participants from different age groups regarding their cannabis consumption in the past month, from 2017 to 2021. The results indicate an 8% decrease in cannabis use among adults between the ages of 18 and 20 and an increase of 20% among those between the ages of Between 21 to 25 since 2017.

Increased cannabis use

One of the critical findings highlighted in the report is the increase in cannabis use in the past four years. The report shows that there is a 96% increase in cannabis use among individuals 65 years of age and older. Cannabis use among individuals between the ages of 40 and 44 has also increased by 64%. The report revealed that cannabis use increased in all age groups except for adolescents in the 18- and 20-year age group.

With the increase in legalization, about 74% of Americans live in a state that allows cannabis for medical or adult use. Of the 74%, 48% of these individuals live in states that allow adult use of cannabis, while 26% live in states that allow the use of cannabis only for medical purposes.

Following 2022 data on the legal cannabis market in the United States, hemp buds Retaining the favorite among cannabis users with a 43% sales share. Vape takes second place with 29% of sales, followed by food and beverages (11%) and extracts (9%). The remaining 1% represents the combined tinctures, topicals, and other products.

Focusing on the racial and ethnic diversity of cannabis consumers, the data gives fascinating insight. Cannabis consumers in the United States are distributed across whites (63%), blacks (14%), Hispanics/Latino (14%), Asians (3%), mixed/multiracial (4%), and others (2%). In terms of gender, men represent a more significant percentage, accounting for 54% of the population, while women represent the remaining 46%.

Using cannabis for a specific purpose

The study found that 70% of cannabis consumers use the substance for a specific purpose. The majority of consumers, around 83%, report using cannabis to relax and relieve stress or anxiety, while 61% use it to improve the quality of their sleep.

The majority of cannabis consumers reported using this substance while engaging in activities such as video games (32%), socializing (33%), recreational activities with family/partner (35%), eating (36%), and surfing the Internet (37%) ), sleep (45%), listen to music (52%), and watch TV, video, or movies at home (56%).

In addition, some consumers reported using cannabis while doing housework or chores (30%). Less than 30% reported using cannabis while cooking, spending time in nature, having sex, or drinking alcohol.

The majority of medical cannabis consumers use it to treat diagnosed conditions such as osteoporosis (10%), post-traumatic stress disorder (17%), migraines (21%), and chronic pain (46%). Among all cannabis consumers, the most common reasons for their use are inflammation (28%), insomnia (40%), depression (41%), anxiety (55%), and pain relief (64%). After consuming cannabis, 94% of consumers reported an improvement in their medical conditions or symptoms.

Dosage and form of cannabis

New Frontier Data reports that 77% of flower consumers consider strains important, while 47% Prioritize young cannabis and terpene profiles. Despite the growing interest in terpenes and microcannabinoids, most consumers still rely on strains to make their purchasing decisions, according to survey findings.

The majority of consumers prefer gummy foods, which make up 84% of the most popular foods, followed by biscuits or brownies at 50%, chocolate at 42%, and beverages at 22%. When it comes to dosage, most consumers choose 2-4mg (14%), 5mg (18%), or 10mg (17%).

Part One of Cannabis Consumers in America 2023 is a comprehensive resource of valuable insights into today’s cannabis consumers. It consists of 45 pages of graphs and data covering spending patterns, preferred buying sites, brand loyalty, social consumption habits, perspectives on politics, and much more.

Conclusion

A 2023 study of American cannabis consumers provides an in-depth analysis of cannabis use in the country today. It identifies critical trends and developments in the industry over time. These include the increase in the number of consumers and the evolution of preferences in types of products and patterns of consumption.

According to the report, a notable finding is that cannabis use among Americans has increased from 39% in 2022 to 42% in 2023. The study also highlights a significant increase in cannabis use among older age groups, with individuals as old as 65 years or older about this happening. an increase of 96% and those in the 40 to 44 age group who reported an increase of 64%.

With the legalization, acceptance, and use of cannabis increasing across the United States, it will be fascinating to witness how consumer tastes and consumption habits change over time and how the industry adapts.

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