Cary, NC--The U.S. market for holistic wellness solutions continues to grow, with CBD and other cannabinoids leading the growth trajectory. According to Joe Kryszak, President of Stirling CBD, he is often asked, "Why does CBD continue to gain acceptance in the marketplace when many other industries are facing a downturn due to reduced consumer discretionary income?"
His response: "The answer entails many factors — including the shift of consumer demand to organic solutions, the concern about the many side effects of prescription drugs, and the continued decrease in CBD pricing."
Since the introduction of the 2018 U.S. Farm Bill, legalizing CBD and other cannabinoids containing less than 0.3% THC, consumers have been increasingly accepting CBD.
Since then, there has been a rush of new CBD companies, compounds, and uses of CBD. The legalization has also dramatically increased the spending on research and development on cannabinoids, with some surprising headlines popping up — such as CBDA/CBGA being used to fight off COVID-19.
According to a Consumer Reports study, CBD usage is higher in younger demographics, but the growth rates of older people are dramatically increasing.
- 40% of people ages 18-29 have tried CBD
- 32% of people ages 30-44 have tried CBD
- 23% of people ages 45-59 have tried CBD
- 15% of people 60 and older have tried CBD
"Our customers are skewed a bit older, with the 30-44 age group presenting almost half of Stirling CBD's customers. We are also growing more than double the industry's 21.3% annual growth rate," says Kryszak in the release. "With an industry-leading 62% of our customers re-ordering, we know that CBD works — or the customers simply would not repurchase our products."
"Our studies show that people buy Stirling to reduce pain, reduce stress, and help them fall asleep. The good news about Stirling is that we offer a 30-day money-back guarantee, and in our five years, we have had less than 20 returns total," added Kryszak in the news release.
Stirling offers some unique CBD products not found elsewhere in the industry. Its CBD Sleep Gummies have quickly become best sellers, with the gummy market exploding. Its CBD lotion lineup is also performing above expectations.
With the proliferation of CBD Companies, Kryszak has some sound advice for consumers: "Coming from a Fortune 500 background, it is amazing to see how many unscrupulous companies are in the CBD industry. Any consumer should do their homework before purchasing and choose a reputable company that provides third-party testing on their website to ensure products are safe and they are what they claim they are."
More in this release.