New Frontier Data’s second consumer report in its EU CBD series provides a comprehensive overview of the European CBD consumer experience
WASHINGTON–(BUSINESS WIRE)–New Frontier Data, the global authority in data, analytics and business intelligence on the cannabis industry, publishes the second volume of its EU CBD Consumer Report Series: Segmentation & Archetypes, in partnership with Deep Nature Project and Mile High Labs. Drawing from the groundbreaking surveying of over 3,000 European CBD consumers across 17 European nations, this study results in the most comprehensive consumer archetype report for European CBD consumers to date.
“Europe’s booming consumer interest in CBD and CBD-infused products across the Food & Beverage and Health & Beauty sectors continues to create material B2B and B2C market opportunities. Data-driven insights of both EU and North American CBD consumerism, drawing from not only comparative analysis but also known geo-centric market dynamics and drivers, helps us educate and guide brands on how to address CBD consumer priorities while managing known or expected challenges in this new CBD space,” said New Frontier Data Founder & CEO Giadha Aguirre de Carcer. “This report fills a major gap in business intelligence in the CBD industry not only in Europe, but worldwide, providing new and existing cannabis or hemp industry stakeholders with a uniquely valuable and timely resource.”
Key findings from the report include:
- 4 of the 5 consumer archetypes have purchased CBD; the Ambivalent & Experimental Consumers instead source CBD from family and friends
- The largest consumer archetype, the Integrative & Consistent Consumers, are frequent users and staunch believers in CBD’s medical efficacy
- 26% of Europeans aged 18-34 have tried CBD, compared to 16% of the general population
- 73% of self-reported consumers claimed CBD has positively affected their quality of life
- A third (34%) of non-consumers are somewhat or very curious about trying CBD
- 49% of CBD purchasers who did not themselves consume indicated buying it for a family member
- Male consumers report spending more on CBD products than female consumers, with more than a third of men (35%) reporting spending €100 or more per month
- 72% of consumers and 17% of non-consumers considered themselves likely to purchase CBD in the next 6 months
- Consumers who use CBD primarily for medical reasons were the most frequent CBD consumers, with nearly half (45%) consuming it at least daily
The EU CBD Consumer Report Series: Segmentation & Archetypes is available for FREE Download at: https://newfrontierdata.com/product/the-eu-cbd-consumer-report-2020-segmentation-and-archetypes/
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.