New Frontier Data releases first industry study focused on European CBD consumption
WASHINGTON--(BUSINESS WIRE)--#BigData--New Frontier Data, the global authority in data, analytics and business intelligence for the cannabis industry, releases the EU CBD Consumer Report: 2019 Overview, in partnership with Deep Nature Project and Mile High Labs. Drawing from the most comprehensive survey to date, administered to over 3,000 individuals across 17 European nations, this first-of-its-kind report examines Europeans’ awareness of, and exposure to, cannabidiol (CBD), as well as reviews Europe’s overarching beliefs about CBD properties, its applications and possible policies.
“There are over 500 million potential CBD consumers in Europe, yet there is still little to no vetted information available to better define and understand this new consumer group and its nuanced behavior,” said New Frontier Data Founder & CEO Giadha Aguirre de Carcer. “The potential for CBD applications has expanded tremendously across Europe in just the past year, creating significant opportunities to build cross-continent brands. However, the successful development and launch of new CBD products will require a much deeper and more granular understanding of CBD consumption across not only age and gender groups, but across different countries in what is a very socio-economically and culturally diverse region.”
Key findings from the report include:
- No single company has brand familiarity above 10% among European consumers – reflecting the immaturity and fragmentation of the market
- 56% of respondents indicate they have heard of CBD, compared to 16% who report having used CBD or CBD products
- The most frequently indicated reason for using CBD is pain management (40%), followed closely by relaxation (34%) and stress relief (31%)
- 42% of CBD consumers report having replaced an over-the-counter medication with CBD
- Nearly one-third (30%) of European consumers indicate spending more than €100 per month on CBD products
- 35% of CBD consumers report getting at least some of their CBD from friends
The EU CBD Consumer Report: 2019 Overview is available for FREE Download at: https://newfrontierdata.com/product/the-eu-cbd-consumer-report/
About New Frontier Data:
New Frontier Data is an independent, technology-driven analytics company specializing in the 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.