Identifying European Consumers’ Demand for CBD
By William Sumner, Hemp Content Manager, New Frontier Data
While cannabidiol (CBD) is among the fastest-growing markets in the European Union (EU) right now, it is essential for industry stakeholders to understand the demand. Knowing who is using CBD — and why they are – can spell the difference between an enterprise’s failure or success.
New Frontier Data has now released the EU CBD Consumer Report Series: Segmentation & Archetypes, an in-depth report drawing on surveyed responses from more than 3,000 individuals throughout 17 European nations.
Some of its key takeaways include:
EU CBD Consumers by Age
Adults under the age of 55 were the demographic cohort most likely to have heard about CBD. Approximately six in 10 adults between the ages of 18-54 had heard of CBD, compared to about 43% of those over the age 55. Similarly, six in 10 adults under the age of 55 reported being interested in learning more about CBD, while 42% of adults over 55 expressed interest.
Why EU Consumers Use CBD
The report breaks down European consumers’ motivations into four general categories: General Wellness, Unwinding, Pain Management, and Medical. In order of popularity, the primary reasons cited by consumers for using CBD included to unwind (31%), followed by pain management (23%), medical purposes (23%), and general wellness (22%).
Age-wise, 35% of those over 55 use CBD for pain management, followed by general wellness (33%), unwinding (17%), and other medical purposes (14%). Younger adults (ages 18-34) cited using CBD for unwinding (35%), medical purposes (29%), general wellness (19%), and pain management (17%). Middle-aged adults reported similar motives, with unwinding as their top reason (32%), followed pain management (27%), general wellness (22%), and medical purposes (19%).
Regardless of age, most of those having heard of CBD reported doing so from either friends or family. Nearly half of adults between the ages of 18-34 years (49%) and 35-54 years (47%) expressed positive feelings about CBD, compared to slightly more than a quarter (28%) of adults over age 55 (28%).
CBD marketers hoping to expand their brands’ customer base, both in the EU and abroad, would be well-served to invest time and resources in outreach, as that remains one of the most significant factors for whether people use CBD. It is especially true for brands hoping to make gains in the over-55 market, where CBD is not viewed as positively compared to other age groups.
More insights about the EU CBD market are available via Equio, New Frontier Data’s business intelligence portal for the hemp and cannabis industry. Click here for a free trial subscription.