A new CBD Usage survey has been carried out by the Centre for Medicinal Cannabis (CMC). The survey forms part of a new report commissioned by the group in an aim to analyse the UK CBD sector. The report is the most comprehensive review of the sector that has ever been carried out in the UK.
Along with finding that 6 million people in the UK have used CBD in some form, the report found that the CBD product sector is among the fastest growing well-being product industries in the UK. Estimates show that if the rate of the CBD market continue at the current rate, by 2025 it could be as big as the current herbal supplement market.
The report – “CBD in the UK: Towards a responsible, innovative and high-quality cannabidiol industry” – has also added to the many estimations over the possible industry revenue of CBD products. It has found that if growth continues at the current rate, the industry could be worth £1 billion a year.
As well as providing information on the market and users, the main aim of the review was to provide recommendations to improve the industry. The group is calling on the Government, the Regulators, the Medical Profession and the Industry to make changes. These recommendations are:
The Government should:
- Clarify, consult and finally revise the law concerning CBD.
- Devise regulations that will be more effective for the UK today.
- Support the UK’s domestic CBD industry to grow.
The Regulators should:
- Provide clarity and certainty to the industry at all levels.
- Focus enforcement of regulations on priority harms.
- Educate and help to raise awareness around CBD.
The Medical Profession should:
- Begin to take CBD seriously as a wellness product.
- Support new research into the benefits and uses of CBD in the UK.
- Prepare for the normalisation of cannabidiol ingredients.
The Industry should:
- Define what constitutes a quality CBD product.
- Undertake voluntary, robust self-regulation.
- Be socially responsible with their products.
You can access the full report, to understand all of the findings and recommendations.