The dramatic increase in the cultivation of hemp and the ability to transport hemp-based products across state lines have paved the way for CBD products to explode on to the mass market creating widespread and growing consumer interest in CBD products.

Legalization of Hemp – The 2018 U.S. Farm Bill

Passed into law by President Trump on December 20,  2018 allowing for the legalization of hemp cultivation and sale of hemp-based products.

As stipulated in the Farm Bill, the legalization of hemp provides for:

The broad cultivation of hemp whereas it was only allowed in pilot-based programs for research purposes, made possible by the 2014 Farm Bill

transfer of hemp and hemp-based products across state lines so long as those items are produced in a manner consistent with laws and regulations

Banking and capital investment for companies involved in the cultivation of hemp and manufacturing of hemp-based products

Hemp farmers being able to buy crop insurance

Consumer Interest in Hemp Products

The audience for CBD products derived from hemp is vast. The products appeal to all adults who lead a health-oriented lifestyle and want a natural way to relieve physical and mental stress. Millennials, seeking alternative all-natural, eco-friendly health supplements and Baby Boomers seeking relief from chronic pain, arthritis and other conditions associated with aging, are expected to be two of the primary drivers of demand for this surge in CBD-based products.

Segment

Baby Boomers

Generation X

Millennials (Gen Y)

Statistics

Baby Boomers represent a group of approximately 76 million Americans who were born between 1944 and 1964.

The current age of this market segment is between 55 and 75 years.

Generation X, is comprised of the 82 million Americans who were born between 1965 and 1979.

GenXers are currently between 40-54 years old.

Millennials is the classification given to the 74 million Americans born between 1980 and 1994.

They are currently between 25 and 39 years old.

CBD Interests

Baby Boomers are interested in CBD products to naturally relieve age related issues such as chronic pain, sleep disorders, bone health, heart health, and mood related disorders.

This generation is more active and more health conscious than the generations before them, and they are seeking natural alternatives to prescriptions.

This generation is balancing their career,  caring for aging parents, and raising their own children.

This generation’s hectic lifestyle contributes to anxiety, mood disorders, and sleep disorders. Generation X is willing to pay more for better quality and organic products.

This generation has embraced the market for all types of health, wellness and lifestyle products described as natural, clean label and organic.

Hemp derived CBD products are therefore well received by this audience.

Baby Boomers

Baby Boomers represent a group of approximately 76 million Americans who were born between 1944 and 1964.

The current age of this market segment is between 55 and 75 years.

Baby Boomers are interested in CBD products to naturally relieve age related issues such as chronic pain, sleep disorders, bone health, heart health, and mood related disorders.

This generation is more active and more health conscious than the generations before them, and they are seeking natural alternatives to prescriptions.

Generation X

Generation X, is comprised of the 82 million Americans who were born between 1965 and 1979.

GenXers are currently between 40-54 years old.

This generation is balancing their career,  caring for aging parents, and raising their own children.

This generation’s hectic lifestyle contributes to anxiety, mood disorders, and sleep disorders. Generation X is willing to pay more for better quality and organic products.

Millennials (Gen Y)

This generation has embraced the market for all types of health, wellness and lifestyle products described as natural, clean label and organic.

Hemp derived CBD products are therefore well received by this audience.

Millennials is the classification given to the 74 million Americans born between 1980 and 1994.

They are currently between 25 and 39 years old.