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The Lowdown On The
CBD Industry
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On August 10, 2022 by Josh Arrowsmith
Explore more: Experiences & Industry Insights | Case Studies | Testimonials
The popularity of CBD products has surged in recent years and is showing no signs of slowing down, with estimated annual figures from the UK reaching almost three-quarters of a billion pounds in 2022.
So, it’s no surprise that many firms are looking to invest in and capitalise on the growing demand for CBD-related products. You may even be thinking about it yourself.
But what exactly is CBD? What are the benefits? How much is the market worth? And how is it regulated?
All these questions and more will be answered within this article, including the most searched topics that are currently revolving around the CBD industry in 2022.
The term CBD is short for Cannabidiol; a chemical found in the cannabis plant, which does not contain the compound known as delta-9-tetrahydrocannabinol (THC), which is the psychoactive ingredient in cannabis that produces a high. There are also numerous variations of CBD products on the market, such as oils, capsules, supplements, creams, and gummies, all of which are taken and applied differently, and will vary in three types of concentration levels: CBD Isolates, Full-Spectrum CBD, and Broad-Spectrum CBD. CBD is an ingredient that has become incredibly popular in recent years. So much so, that it can be found in many health products, such as skin care cosmetics, bath soaks, supplements, vitamins, medicines, and even in some varieties of food and drink.
CBD is also making ground-breaking advancements in medicine, having undergone numerous studies and tests to medicinally relieve the symptoms of several neurodegenerative diseases, i.e., Alzheimer’s disease, multiple sclerosis, and Parkinson’s disease. CBD is also making waves in treating the effects of anxiety disorders and is even being used to treat conditions that cause muscle pain, joint pain, and other symptoms of inflammation.
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Research suggests that CBD falls into two camps, with differing age ranges and needs. The first, includes ages 21-to-35-years, who are looking for relief from anxiety, depression, and insomnia. The other is the older generation, 56 years and over, who buy CBD products for relief from joint pain and inflammation. CBD is becoming so advanced as a medical remedy that specialist doctors themselves will sometimes prescribe CBD based products for select patients who are diagnosed with very specific medical conditions and requirements.
Like all medicines, there is not always a guarantee that CBD will be effective for everyone that takes it, but it is important to note that it will sometimes be medically advised for certain patients to take, in the attempt to treat the following conditions (providing that the other medicines that patients had previously taken were ineffective). For instance, those suffering with severe responses to epilepsy, MS, and Chemotherapy, their symptoms might be aided by CBD. Additionally, CBD has limited side effects, and is therefore considered a safer ailment in comparison to other medicines, making CBD one of the more appealing solutions for those who are looking for relief from pain-related symptoms.
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Regarding the legal regulations on CBD, these products are perfectly legal (depending on the THC content that the product contains). For example, CBD is legal in the United Kingdom, providing that CBD products contain <0.2% of THC. The laws on CBD in America on the other hand vary tremendously, as it is legal in all 50 states, however, each state has its own individual laws on the traces of THC that CBD products are allowed to contain.
There is huge and growing demand for CBD products. According to cannabis consultancy firm Prohibition Partners, the size of the market is set to exceed €3 billion in Europe alone in 2022. In the UK, industry analysts estimate that the current annual value of the UK CBD industry in 2022 sits at around £700 million, and in the US, the market is predicted to reach over $47 billion by 2028.
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In relation to CBD trade, these products can be sold online. In fact, most CBD products are sold through eCommerce businesses, although you can also buy them in brick-and-mortar stores, i.e., health food shops, chemists, and supermarkets.
The CBD market has been something of a Wild West affair for many years, due to a lack of regulations, which has led to vast quantities of illegitimate and dangerous CBD based products being sold online. But this is starting to change, at least in the UK, and anyone eyeing up a move into the CBD business should take note. In March 2022, the Food Standards Agency (FSA) published a list of 3,500 CBD products that were in its approval process. The FSA advised that any products not on the list should be immediately withdrawn from sale in England and Wales. This is as the UK tries to move CBD from a grey market into a more regulated one.
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Yes, we can. Our CBD & Cannabidiol eCommerce Fulfilment services range from CBD oils, capsules, supplements, creams, and gummies. Our storage facilities provide the most optimum environment for your CBD products, offering a maintained temperature, below 21 degrees centigrade, in a dry, dark place. The products themselves must be packaged in an airtight, UV-protected container.
If we sound like the fulfilment centre for you, contact us to find out more about our services for your CBD products. Choosing us as your 3PL provider can pay off in several ways, i.e., saving you time and money to work on the most important tasks at hand (your business, and your business’ products). This is the level of excellence that we strive to provide for all our clients who partner with Finishing Line.
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Here at Finishing Line, we always want to keep you as updated as possible when it comes to the most relevant industry knowledge and insights. And with that being said, there really couldn’t be a better topic to discuss than the CBD industry. As the industry sits relatively untapped, it is rapidly becoming one of the most profitable markets to be involved in, due to the record of demand in 2022.
If this article has been informative, interesting, and helpful in regard to finding all the right answers that you have been looking for, feel free to sign up to our email newsletter below to gain more industry insights that we here at Finishing Line can provide you, with 35+ years of experience. Our services; ecommerce fulfilment, returns management, contract packing, warehouse management.
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Head of Commercial & Innovation