Are Consumers Familiar with Certain Hemp Products, and Do They Make Purchases?
Are Consumers Familiar with Certain Hemp Products, and Do They Make Purchases?
A study conducted on Vermont consumers reveals that while awareness of hemp is strong in certain categories, the uptake of hemp products is significantly low.
The most recognized product made from industrial hemp is CBD, and awareness of other hemp products is also high. However, the number of respondents who expressed their intention to use hemp products in general is low, as shown in the study conducted by researchers from the University of Vermont.
The report reveals that consumers are most aware of and frequently adopt hemp CBD, which aligns with the industry focus since the legalization of hemp. However, consumers are also equally aware of hemp clothing, rope, and personal care products, and intend to use hemp personal care products at similar rates to CBD products.
‘Perceived advantages’
The study suggests that while CBD is more prevalent among older consumers, younger consumers have a broader appreciation for the various forms of hemp. “Older consumers may use CBD more frequently, but among our sample, we find that younger consumers have a higher probability of using hemp products overall. At the same time, hemp products may be more appealing to younger populations, providing potential opportunities for market segmentation,” the study explains.
According to the authors, the results indicate that higher perceived relative advantages of hemp-based products lead to an increase in the total number of products used. This suggests that consumers are more likely to use and use hemp products intensively if they perceive them to be healthier, more palatable, and more durable.
The study also observed age differences and variations in support for marijuana between users and non-users of hemp-based products, implying that hemp is still in the early stages of diffusion and has room for growth in the market.
More research needed
The authors of the study believe that their findings can help inform strategies for producers in the “nascent” hemp industry, which requires further market research. They suggest that market analysis for hemp products should be expanded nationwide in the future, and should consider modeling the relative advantage characteristics as separate attributes to better understand the impact of factors like health and taste on hemp adoption.
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