How sustainable is hemp? What are consumers looking for in CBD brands?
A new survey from market research platform Suzy answers these questions and provides other insights into this growing industry. In March, the company asked more than 1,000 Americans to provide their opinions on sustainability. The research weighed results to accurately reflect the age, ethnicity and gender of the US population.
Here are some of the most important findings:
- 46% of respondents find CBD/Hemp to be sustainable;
- Out of those who feel positive about the plant, 77% highlighted its multiple-use, 60% its biodegradability, and 51% the lack of pesticides and herbicides that it needs to grow;
- The survey revealed one of the biggest problems in the industry is education, with 33% of respondents being unsure about hemp’s sustainability and neutral about it overall;
Considering that hemp was only federally legalized to grow in the U.S. some three years ago, most companies are still in the research & development phase.
What else they can do?
- Back to the previous – they can work on education;
- Clothing is another suggestion, with 40% of respondents confirming they are willing to try hemp clothing; of those interested in trying hemp clothing shirts (42%), shoes (35%), jeans (33%), and outerwear (32%) top the list of items;
- Beauty products and food products like hemp seeds and hemp milk were in second place at 35% each, followed by biofuel (26%). Other applications include bioplastic and home insulation.
Additional Survey Findings
- 55% of respondents show interest in purchasing CBD products, with 16% very interested;
- 53% of respondents show interest in purchasing hemp products, with 13% very interested;
- One-quarter of Americans strongly disagree that hemp products are dangerous;
- One-quarter of respondents negatively view Hemp, with 46% for the legality, 40% for bad reputation, 36% prefer other materials;
- Nearly half of respondents (44%) don’t have concerns with using CBD products;
- Of those that do have concerns: 33% are due to side effects, 25% due to lack of regulations, 19% due to possible high, and 19% safety;
- Over half (52%) of respondents are not interested in using CBD for their pets;
- Top 3 factors when shopping for CBD products: organic 24%, environmental compliance 20%, and domestically grown 19%.
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
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