Alternative Health Product Marketplace Alphagreen Releases Industry Market Research; Highlights Growing Consumer Interest in CBD
-Exclusive research by Alphagreen reveals that the pandemic triggered a spike in the consumer interest of CBD products in the UK. -Latest market trend analysis reveals a surge for searches in branded CBD products.
LONDON, February 23, 2021 (Newswire.com) - Alphagreen, Europe's leading marketplace for alternative healthcare products, conducted a worldwide Product Trend Analysis into user searches surrounding the topic of CBD oil and other CBD products. Alphagreen previously commissioned the largest UK survey on CBD and published data that indicated a market value of £450 million, and is projected to be more than £100bn by 2026.
The objective of this recent research study was to identify how consumer CBD search trends are changing over time, and how they have been impacted by the pandemic. Alphagreen's analysis used internet search data to better understand how users are searching for CBD products and how this differs according to location.
With the UK as the focal point, Alphagreen also conducted research into worldwide search data in order to recognise significant trends and/or differences for comparison across the international CBD market.
- During the pandemic, CBD product searches changed and the demand has been increasing in the UK day by day, as seen in the graph attached
- CBD products are growing in popularity based on search volumes and the data showed that there is no high or low season for these products, except during the pandemic period where there was a surge in demand
- When searching for CBD products, users are more likely to search with brand names such as Green Leaves CBD, Kanavance CBD, and Mary Berry CBD
- The most commonly searched for questions in the UK regarding CBD is "What is CBD" followed by "is CBD legal" and "can CBD oil get you high", reflecting a need for consumer education around the industry
- In terms of reasons for usage, the three most searched for terms are "CBD oil for pain", "CBD oil for anxiety", and "CBD for dogs"
- CBD vape and CBD gummies are highly popular products compared to CBD tea, CBD coffee and CBD chocolates (refer to the chart attached for reference.)
"The Cannabis and CBD Industry is moving fast, and new trends are constantly emerging. We keep our ear to the ground, attend and speak at conferences, and consult with our Think Tank experts on the ongoing changes and movements all around the world," says Alphagreen co-founder and CEO, Alexej Pikovsky. "We believe it is important to stay on top of what consumers are interested in and what they want to see more of, in order to make our own contribution to the development of this rapidly growing market."
- ENDS -
For additional information please contact:
Kevin Maxwell, Kevin@shift6.org, +44 7985 351 797 (UK and Europe)
Rhian Humphries, Rhian@shift6.org, +1 408 412 2957 (USA)
About Alphagreen Group:
Alphagreen Group is an ecommerce platform and technology provider. The group is focused on emerging e-commerce verticals such as CBD, Medical Cannabis, Nootropics, and Sexual Wellbeing, alongside new exciting brands within the health, wellness and beauty space. Founded in 2019, Alphagreen was born from a passion for health and wellbeing, combined with technology and innovation. Alphagreen is the brainchild of entrepreneurs Alexej Pikovsky and Viktor Khliupko, who encourage you to "Alpha Up Your Life." Alphagreen was created to simplify the entire experience with alternative healthcare products along every step of the consumer journey.
Notes to Editors:
It is important to note that search volumes were estimated and only show the average over a 12 month period. In 2020, it is more important to track popularity, seasonality, and trends since we are living through a pandemic and user behaviours are changing and needs are evolving. Within this scope, Alphagreen analysed the trends of the most important keywords by using Google Trends in order to spot the demand before and after Covid-19 and high/low seasons.