Everyone's a Pothead With CBD Products

The Statista Health Market Outlook predicts that the use of cannabis around the world will increase majorly to more than one billion users by 2027. Most of these people will opt for non-intoxicating, low-THC varieties, usually marketed under the name CBD after the active cannabis ingredient found in them: cannabidiol.

While this presents a major opportunity for the industry, there is a caveat. According to the numbers, CBD users in 2023 are expected to spend just $24 on respective products, indicating very casual use. By 2027, this per-capita revenue is only expected to rise slightly to around $29. Recreational cannabis and medical cannabis users on average will spend $481 this year, with those using the drug recreationally shelling out as much as $600.

Due to these market characteristics, less than 30 percent of overall sales in the cannabis segment are expected to come from CBD in 2027 despite its high projected future user number. Cannabidiol has been proven to alleviate some childhood seizure syndromes and some studies have found it to lessen anxiety, insomnia and pain.