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Familiarity with Hemp Products Rose to 70% Among US Consumers in 2019, According to Nutrition Business Journal

/EIN News/ -- BOULDER, Colo., Nov. 22, 2019 (GLOBE NEWSWIRE) -- The average US Consumer familiarity with hemp products rose from 47% to 70% in less than a year, according to a new study by New Hope Network’s Nutrition Business Journal. According to the same study, the number of manufacturers who reported selling CBD products also grew at a staggering pace, from 29% in January 2019 to 59% in August 2019.

The study is published in Nutrition Business Journal’s Hemp & CBD Guide 2.0, which was released on November 18, 2019 to provide an updated understanding of this high-profile product category.

“Hemp and CBD might be the biggest ‘next big thing’ we’ve ever seen in the natural products industry,” said Claire Morton Reynolds, Senior Industry Analyst for Nutrition Business Journal. “The data we share in the Hemp & CBD Guide 2.0 really demonstrate how fast this category is changing, and the ways consumers and manufacturers are keeping up.”

But can the natural products industry hold the pace? Anyone who has followed the meteoric rise of hemp and CBD is aware of the marketplace confusion surrounding this once-illegal ingredient, which is a close cousin of recreational marijuana.

“While awareness and production of hemp products grew at an astounding rate in 2019, the consumer purchase rate only increased from 30%-32% in the same time period,” explains Reynolds. “However, the data also prove that a huge opportunity exists to work through any consumer hang-ups.”

Through a series of surveys covering the full breadth of the consumer journey, Nutrition Business Journal identified a variety of factors that influence consumer behavior, including uncertainty about health claims, side effects, and legal questions. And by utilizing New Hope Network’s advanced database of data, the Hemp & CBD Guide 2.0 provides clarity around the perceptions of consumers who are familiar with hemp but haven’t purchased, as well as the remaining 15% of consumers who are not familiar with hemp at all.

“There’s no question that hemp CBD is one of the hottest topics in the natural products industry right now,” said Carlotta Mast, market leader for New Hope Network. “Everyone in the marketplace is paying close attention to the rapid evolution of this category. I believe this is critical information for all players in our industry.”

Nutrition Business Journal’s complete Hemp & CBD Guide 2.0 is available for purchase online. This expansive, longitudinal report provides more than twice as much data as the first 2019 Hemp & CBD Report, 101 easy-to-read charts, 31 concept tests with commentary, manufacturer surveys covering food and beverage, supplements and tech, consumer surveys capturing all parts of the consumer journey, insight into what risks remain and how to manage them, and more.

About New Hope Network
New Hope Network, by Informa Markets, is at the forefront of the healthy lifestyle products industry. With solutions for the complete supply chain from manufacturers, retailers/distributors, service providers and ingredient suppliers, the network offers a robust portfolio of content, events, data, research and consultative services. Through its mission of growing healthy markets to bring more health to more people, New Hope Network helps businesses identify the people, products, partnerships and trends that create better opportunities and connections. For more information visit www.newhope.com.

About Informa Markets:
Informa Markets is made up of the top events, education, data and content brands across the global health and wellness industry. This powerful alliance serves a world-wide network of CPG brands, manufacturers, suppliers, retailers, distributors, investors and service providers.

Contact: 
Carrie Kocik
New Hope Network
Public Relations
617-694-5971
ckocik@newhope.com

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