CBD News Aggregator

United Kingdom CBD oil news on UK products, compaines and law

The UK CBD oil products market, like many aspects of life in the country, will undergo reshaping in a post-Brexit world – and in this case may not be such a bad idea. In 2019, much of the entire UK-based CBD product industry was coming under fire for a serious lack of quality control, testing standards and nearly non-existent regulation.

Throughout the 2020s, this industry will be mending its ways under the auspices of the Centre for Medical Cannabis (CMC) – a worthy venture, for as a CMC study of 2019 showed, the UK CBD oil industry is looking to be valued at nearly £1 billion per year b 2025.That large number becomes even more impressive when considering the same market in the UK was valued at “just” £110 million in 2017.

A Cannabis Trade Association (CTA) report of 2019 implies that CBD product manufacturers should be quite concerned about the UK’s Brexit maneuver: Despite a spot outside the European Union top 10 in either hemp or CBD oil production, the UK was by far the largest consumer market for CBD products. The aforementioned £110 million value of the UK CBD product market represented nearly one-quarter of the entire EU market value of £480 million.

Going into the 2020s, Brexit has left the UK CBD industry in a strange spot as well. Whereas the UK industry had been making tweaks to certain legalities and regulatory framework per the European Commission’s new consumer guidelines for 2019, further such changes may be thrown out, depending on however the international trade deals shake out. The country’s trade association, Cannabis Professionals, is certainly also awaiting a final trade deal, as this group has threatened legal action over the Food Standards Agency’s willingness to enforce the new EC standards.

At the time of its 2019 report, the CTA accounted for some 177 hemp product manufacturers, with over 150 of these specializing in or exclusively producing CBD oil products.

Examining the UK’s CBD market in more detail, CTA lists 177 manufacturers as members, the majority of which specialize in CBD products. Larger names in over-the-counter pharmaceuticals based in the UK such as Walgreens and Healthspan began offering a wide range of CBD products beginning in the mid-2010s and look to corner more of the UK’s market – again, particularly in the post-Brexit era – going forward.

Getting up-to-date news on the UK CBD product market has never been more important – check back with CBDnewsAggregator.com often to get all the latest!