"Cannabidiol: the most misunderstood compound on earth."
Research suggests that more than 8.4 million Britons were buying CBD products in 2021, with spending exceeding £150m in the first four months of 2020 alone. That means the market was on target to achieve revenues of £450m over 2020 as a whole, which would represent 50% growth compared to 2019 with £319m and growth continues in 2021, with an estimated market of £690m by the end of the year.
This growth is taking the CBD market from being seen as niche and a bit of a fad, to being a serious health supplement market with significant revenues.
Also known as cannabidiol, CBD is a major compound found in the Cannabis sativa plant –mainly the hemp plant. CBD’s non-psychoactive and therapeutic effects drive the current consumer curiosity, more Brits turn to CBD for these, much needed, therapeutic effects.
Is CBD a Narcotic? The UK FSA Disagrees
A lack of legal clarity and standard regulations on trading CBD products has led to huge variations in the quality and safety of products in today’s heightened market.
For instance, while the UK CBD market has some high-quality products, there is also a boom in high street products with misleading labels on CBD content and illegal THC levels.
As a result, the UK’s Food and Standards Agency (FSA) decided to follow the European Union recommendation that CBD is treated as a novel food. This move would require CBD companies to apply for novel food authorisation certificates for all their products.
While this move has the consumer’s interest at heart as it guarantees product safety, CBD experts believe it will lock out small CBD companies due to the financial outlay required to submit the novel food applications.
NB: Hemprove only recommend brands that have novel food authorisation certificates in process!
"CBD doesn't get you high, it gets you healthy."
It seems that in the UK, people are increasingly turning to more natural health and wellness solutions to add to their self-care routines, people are looking towards natural remedies to mitigate and soothe symptoms of common conditions such as anxiety, as well as other mental and physical health concerns.
There is a mental shift away from CBD products being aligned with recreational cannabis and the health benefits of CBD, not to say the medical marijuana should be ignored at all, for a lot of ailments and treatment, but we’ll come back to that at another time. Needless to say the stigma is still here in the UK, somewhat, until people take the plunge and try for themselves, then often they become converts and advocates in their own right.
The resistance from the medical profession and pharmaceutical sector, seems to be driven more by profits than the wellbeing of the patients, check out the list of potential side-effects on a packet of Ibuprofen vs CBD, we know which we’d prefer.
Online sales are an important part of the story. In the marketplace’s survey, 38% said they bought their CBD products online, compared to 14% who purchased from health shops and 13% who sourced products from pharmacies.
In short, if you’re buying CBD already, you are part of a growing community of people moving away from pharmaceuticals and the potential side effects of big-pharma products, enjoying the health benefits of CBD products, both topical CBD and edible CBD. If you’re looking at CBD and not sure whether to take the plunge, well you’re no longer looking at a niche market, no longer going to be frowned upon and no longer dealing with unknown quality or consistency.
Hemprove is always monitoring our suppliers and checking feedback on products as well as trying the products ourselves.
Welcome to the quiet revolution in health supplements