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.
PURE Sport CBD was set up two years ago by Scottish rugby stars Adam Ashe and Grayson HartSource: heraldscotland.com
A SCOTS firm set up by two rugby players is aiming to be one of the first in the UK to be accredited under a new regulatory system for theSource: heraldscotland.com
A BUSINESSWOMAN who forged an unlikely friendship with Peter Howson during treatment for anorexia as a teenager has the Glasgow artist to thank, in part, for a new venture thatSource: heraldscotland.com
A company set up by two Scottish rugby internationals to provide an alternative to mainstream painkillers has secured its first external investor after reporting a surge in sales due to “Source: heraldscotland.com
Her great-grandfather made his name selling luxury goods to discerning gentlemen, and it seems Alexandra Dunhill has inherited his entrepreneurial spiritSource: hellomagazine.com
Property giant Savills is teaming up with cannabis specialists to launch a one-stop-shop for growers in the UK looking to cash in on exporting the drug to countriesSource: pressandjournal.co.uk
During a trip to Canada earlier this year, I wasn’t quite sure what to expectSource: irishtimes.com
Two cannabis-based medicines have been approved for use by England’s National Health Service (NHS) for the first timeSource: iflscience.com
A recent paper on the findings in The Lancet Psychiatry describes how the study, which takes the form of a meta-analysis, combines and analyzes data covering 3,000 peopleSource: medicalnewstoday.com
Cannabis oil is cropping up all over the high street, from vape shops to coffee houses and barsSource: manchestereveningnews.co.uk
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.
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