Cannabidiol (CBD) products are becoming ubiquitous: from the gummies at customers’ local c-store to the CBD-laced peanut butter they considered buying online for their pets. It’s an increasingly prevalent trend that has wafted into dozens of industries and grown abundantly on retail shelves and online storefronts alike. In fact, in a recent CivicScience study of…
Expect Growth in Gummies, Report Says
According to a recent report from market intelligence firm Grand View Research, the market is witnessing significant growth owing to the rising health-conscious consumer base demanding easy-to-consume dosage forms of supplements. And that includes CBD gummies. The global gummy market size was valued at $16.28 billion in 2020 and is expected to grow at a…
Is Hard Seltzer Bubbling Up or Fizzing Out?
A new study of U.S. hard seltzer drinkers revealed growth opportunities still remain for the alcoholic beverage industry’s trendiest category. Veylinx, a consumer insights platform that uses behavioral research to predict purchasing habits, studied eight hard seltzer brands and eight added benefits to determine which potential product innovations consumers value most, and which will impact…
Social Responsibility Driving CBD Beverage Growth
New data from cannabis market research firm High Yield Insights reveals that consumers of CBD beverages care far more about issues such as sustainability than most adults, with 41% of CBD drinkers reporting a preference for sustainable brands compared to 21% of the general U.S. population aged 21 and over. Similarly, 40% of CBD beverage…
Edibles Market Expected to Surpass $10 Billion in Annual Sales by 2025
The cannabis edibles market is expected to surpass $10 billion in annual sales by 2025, according to market research firm Brightfield Group. This is one of the fastest-growing product types, according to Brightfield Group data, consistently capturing the third-largest share-of-shelf of all cannabis product types. The maturing edibles category is starting to see some standardization,…
Halloween Spending Expected to Hit $10.14 Billion — an All-Time High
Halloween consumer spending this year is projected to reach an all-time high of $10.14 billion, up from $8.05 billion in 2020, according to the National Retail Federation’s (NRF) annual survey conducted by Prosper Insights & Analytics. “This year in particular, we see an emphasis on Halloween spending from families,” said Prosper Insights Executive Vice President…
Study: Evening Fill-Ups Most Common for US Drivers
A new study by GasBuddy reveals the most popular times of day drivers in all 50 U.S. states bought fuel. Key findings include: Drivers in most states buy gas between 4 and 5 p.m. People in 24 states – including California, Florida and Louisiana – most frequently purchase gasoline between 5-6 p.m. Another 23 states, like…
Beverage Sales Expected to Grow Through 2025
According to the update of Packaged Facts’ benchmark coverage of retail beverage sales in Beverage Market Outlook 2021: Retail Beverage Trends & Consumption Preferences, sales of the major beverage categories are forecast to increase 2.2% per year from 2020 to 2025 but not at a steady rate over that period. Sales spiked in 2020 due…
In-Store or Online, Pandemic Shoppers Spent More Each Checkout
The COVID-19 pandemic has led to an increase in the average amount U.S. consumers spend on each shopping occasion, whether it is a trip to a physical store or a visit to an online shopping site. Since reaching $34 in March of 2020, average shopping occasion spending has remained elevated at or above that amount…
Report: Pet Owners Happy With CBD Products
Leafreport.com, the CBD industry’s peer-reviewed watchdog website, released results from a comprehensive survey of pet owners who give their pets cannabidiol (CBD) products. The report showed that 50% of pet owners reported using CBD for their cat or dog, and 74% indicated that they were likely, or very likely, to recommend pet CBD products to…