Eleven months into the year 2020 and it doesn’t look like we’ll be seeing the back of “the new normal” anytime soon. This is the phrase that has been tied to the coronavirus (COVID-19) pandemic, which had claimed 1,422,671 lives globally as of November 27.

While the outlook may seem bleak to many, there is a comforting prospect that has sprouted out of the hemp and CBD industry — the cannabis plant could be the antidote for coronavirus-related mental health woes.

According to a July analysis of CBD consumers across the United States, Chicago-headquartered research firm Aclara Research says that as many as 20 percent of cannabis consumers have increased their consumption amid COVID-19.

The study results were published in a recent Hemp Industry Daily report, titled,“How to Navigate the Complicated World of CBD in Retail.” Nielsen Global Connect – a global leader in consumer insights and analysis – teamed up with the online news outlet to conduct the report.

A key takeaway from their study on CBD use amid COVID-19 is that existing and new consumers are likely to manage their mental health with a proactive approach; something that may or may not persist post-pandemic.

Study on CBD use amid COVID-19: American CBD consumers are spending more since pandemic began

To get a clear picture of CBD use amid COVID-19, analysts from Aclara Research pulled data from approximately 3,000 consumers. All of those consumers resided in a U.S. state that has legalized cannabis. The findings suggested that one in five consumers involved in the study panel have started buying more CBD since the vírus outbreak started. Conversely, 55 percent of participants said that their cannabis and/or CBD spending habits had not changed.

Annual expenditure worked out at around $900; the majority of purchases were either CBD-infused beauty products, beverages or raw flower. The founder and principal of Aclara Research, Carmen Brace, discovered that 88 percent of the big spenders who partook in the study on CBD use amid COVID-19 consumed non-psychoactive CBD products multiple times a week.

A significant portion of respondents claimed to be well-versed on the subject of cannabis, with 80 percent describing themselves as advanced or immediate product users. Eight in 10 of those consumers said that they regularly use both CBD and cannabis products. Additionally, 60 percent of cannabis consumers are frequently purchasing hemp-derived CBD products.

Study on CBD use amid COVID-19: Pain relief among top reasons to use CBD products

Despite being just one of hundreds of identified cannabinoids, CBD is one of the most rigorously researched of them all. Although more research is needed to fully understand its capabilities when exposed to the human body, scientists have proven that CBD possesses anxiolytic, anti-inflammatory and painkilling properties. 

Based on the outcome of this study on CBD use amid COVID-19, 58 percent of respondents used infused products for pain relief. The same percentage of respondents used CBD products for anxiety, 48 percent for relaxation, 37 percent for sleep and 30 percent for general wellness.

Not only did the team of analysts come to this conclusion but also, they questioned respondents about whether or not they agreed with certain statements. Here’s what they found:

• “I am feeling more stress during the pandemic than I did before.” ― 68 percent of respondents agreed 
• “I am buying more immunity boosting foods and supplements to improve my health.” ― 42 percent of respondents agreed

With the above responses in mind, Brace says that the need for CBD products is growing. Because of this, she believes that there will be increased demand for retail space inside which vendors can sell hemp-derived and CBD products; not to mention a surge in popularity for such products. This is especially true as the pandemic lingers, what with more people exploring new ways to control stress and anxiety levels.

“These products are on trend with consumer needs, play a strong role in profit generation and increase basket size,” hypothesizes Brace. He makes a good point, since recent research from the Kaiser Family Foundation suggested that more than 53 percent of adults have suffered a blow to their mental health and well-being at some point since the coronavirus pandemic erupted; more than one-third of adults have reported symptoms of anxiety, versus 1 in 10 adults from January 2019 to June 2019. 

If you wish to review additional insights into CBD-related demographics, regional product preferences and the size of the nascent industry on a retail level, click here to download the report.