Hemp has garnered attention in the United States since its removal from the list of Schedule I drug, resulting in increased interest in CBD oil and its purported health benefits. However, the market potential of CBD oil in the current consumer market remains largely unexplored. This study aimed to evaluate consumer preferences for nine key flavor attributes of CBD oil and their corresponding market shares. A survey of 982 US respondents was conducted, and clustering analysis identified 11 segments for CBD oil buyers and 9 for future buyers, with citrus and fruit flavors being popular. A Multinomial logit analysis identified demographic characteristics, CBD usage behavior, and attitudes toward social issues as a determinant of cluster membership. The results of this study could help develop targeted marketing strategies for CBD oil products.