The Cannabis Act Era Expands Addressable Market in Canada
October 27, 2019Bearing Fruit from U.S. Cultivation Output Estimates for 2019
November 2, 2019The Cannabis Act Era Expands Addressable Market in Canada
October 27, 2019Bearing Fruit from U.S. Cultivation Output Estimates for 2019
November 2, 2019
- The use of CBD-only products gained momentum in Canada over the past year; last month, CBD oil was used in 9% of medical cannabis consumer sessions tracked by Strainprint, up from 4% in September 2018.
- Females most frequently use CBD-oil products, particularly among the 35-44 age group; conversely, males aged 45+ reported consuming CBD far more frequently than younger men.
- Notably, CBD is used for many reasons, with no one purpose dominating: Applications vary from inflammation (8.5%) to anxiety (7.1%) or depression (4.4%).
- Broad perception of CBD as a wellness enhancer portends well for the future of CBD products in Canada, especially in the advent of its Cannabis 2.0 rollout.
- The product landscape will grow significantly as consumers increasingly embrace wide-ranging products, including formulations with higher THC concentrations in the CBD:THC ratio (e.g., 10:1 or 1:1) and full-spectrum blends (oils containing terpenes and cannabinoids including CBD/CBN/CBG).
- As the market for general CBD wellness grows more competitive and less differentiated, brands will increasingly focus on specific health and wellness for targeting carefully segmented consumer groups.
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