Much-Hyped U.S. CBD Market May Reach $16 Billion by 2025, Cowen Says
- Nearly 7% of Americans are already using CBD, survey finds
- Tinctures account for 44% of use, followed by topicals at 26%
Nearly 7 percent of Americans are already using cannabidiol (CBD), placing the potential market opportunity for the much-hyped cannabis compound at $16 billion by 2025, according to a new analysis by Cowen & Co.
Cowen’s January consumer survey of approximately 2,500 adults found 6.9 percent of respondents use CBD as a supplement. “This initial response piqued our interest considerably, as it was much higher than we would have suspected,” and compared to 4.2 percent who reported use of Juul Labs Inc.’s e-cigarette devices and 19.6 percent who consider themselves current tobacco users, analyst Vivien Azer said in a note.