Mainstream Brands Engage CBD Consumer Segment as 66% of Americans Consider Cannabinoid Products
WASHINGTON (September 17, 2020)–(BUSINESS WIRE)–New Frontier Data, the global authority in data, analytics and business intelligence for the cannabis industry, releases Cannabis-Infused Products: Navigating the Complexities to Market, Vol. 2, in partnership with SōRSE Technology. The report explores the fundamental areas of cannabinoid-infused product development, the unique regulatory hurdles constricting the market, and the effective strategies that brands use to capture market share.
“New Frontier Data’s research shows cannabis and CBD consumers vary widely in their demographics, product preferences, purchase behavior, reasons for use and consumption frequency,” said New Frontier Data Founder & CEO Giadha A. DeCarcer. “In such a dynamic consumer environment, brands must develop data-driven consumer strategies to secure their market position as competition intensifies and the product landscape becomes more saturated.”
Other key findings from the report include:
- 66% of Americans surveyed have had positive conversations about CBD, revealing a dynamic and positive perspective towards CBD
- 18% of Americans surveyed have consumed CBD products, with widely varied reasons for use including pain, medical, unwinding and general wellness
- THC-infused edibles are legal in states where medical or adult use cannabis is legal, but the licensing requirements to be a cannabis-infused product manufacturer vary widely
- The national rules governing CBD are still in flux, with a decision still pending from the FDA on whether CBD-infused food will be permitted in the general commercial market
The Cannabis-Infused Products: Navigating the Complexities to Market, Vol. 2 is available free of charge: Download at: www.NewFrontierData.com/cannabisinfusedvol2
About New Frontier Data:
New Frontier Data is an independent, technology-driven analytics company specializing in the global cannabis industry. It offers vetted data, actionable business intelligence and risk management solutions for investors, operators, researchers and policy makers. New Frontier Data’s reports and data have been cited in over 80 countries around the world to inform industry leaders. Founded in 2014, New Frontier Data is headquartered in Washington, D.C., with additional offices in Denver, CO and London, UK.
New Frontier Data does not take a position on the merits of cannabis legalization. Rather, its mission and mandate are to inform cannabis-related policy and business decisions through rigorous, issue-neutral and comprehensive analysis of the legal cannabis industry worldwide. For more information about New Frontier Data, please visit: https://www.NewFrontierData.com.