A green wind
A range of CBD infused drinks are now on the market
The emergence of the US-based first CBD internet marketplace should come as no surprise. CBD is experiencing explosive growth, and a green wind has been blowing in the online world for some time now.
CBD.co brings “the top trusted CBD brands under one roof to offer the best CBD purchasing experience online”, says the site’s creators.
Such a site meets rising therapeutic demand. It offers more than 50 brands, plus laboratory testing, and product vetting. CBD users can also access Personalized Cannabinoid System testing.
Meanwhile in Europe…
According to HBW Insight, The Cannabis Trade Association (CTA) revealed that Europe’s cannabidiol market currently is worth around £480m. The UK commands the biggest share at around £110m.
CTA estimated that just over half of European CBD products are dietary supplements in the form of oils, a third is vapes and the remainder are cosmetics and edibles, as well as other “questionable” products.
CTA predicts CBD will continue to rise in popularity, with cosmetics a particularly fertile growth area within the market, alongside edibles and drinks.
The UK may be leading the way however it is awaiting legal clarification on the regulatory status of CBD supplements after the European Commission decided to reclassify the ingredient as a novel food. CTA has initiated a legal challenge against the Commission’s decision, insisting its members’ products will not be removed from sale.
This will rumble on, no doubt, however in a market where everyone eagerly awaits guidance, companies crack on.
Beneath an ever-rising sea of non-alcoholic beverage choices, the infused edible and beverage industry has become one of the fastest-growing market segments. This week we received notice of CBD infused gin and CBD infused spiced rum.
With the rapid growth of the infused beverage market, many large corporations are exploring opportunities within the market primarily through partnerships.
CBD firms operating in the UK are no doubt hoping that the country will go the way of Bulgaria, where the Ministry of Agriculture, Food and Forestry, in conjunction with the Bulgarian Food Safety Agency, issued US-based Medical Marijuana a Free Certificate of Sale for a “series of products” containing CBD.
Incoming regulations will tighten up the market, especially where manufacturing is concerned on how CBD is extracted and processed, and with supply-chain compliance.
In the meantime, I’m sure plenty of companies are prepping new products for new markets.
There’s certainly a lot of potential in the CBD market. With so much up for grabs, it follows that as soon as CBD gets some sort of rubber stamp there will be a mad scramble by beverage and cannabis companies to get a product to market.
Right now the field is wide open. The green wind has filled the sails of Europe’s wellness market over the past 12 months so the chance is there to come out in front.
CBD might not be approved yet, but judging by experts’ projections, it’s only a matter of time.