The Rise of CBD in the UK: A Market Ready for Takeoff
The United Kingdom is witnessing a significant surge in the usage of CBD products. According to a comprehensive survey conducted by the Centre for Medicinal Cannabis, the numbers are staggering.
There are 1.3 million regular CBD users in the UK, and an astounding 6 million people have used CBD products in the last year.
Breaking Down the Numbers
The CBD market in the UK is not just growing; it's booming. The market size is between 3-6 times larger than previous estimates, with 1.3 million regular users as compared to the earlier figure of 250,000 users. The CBD market is now larger than the total UK Vitamin D (£145M) and Vitamin C market (£119M) combined.
The Future is Bright
With double-digit growth rates, the CBD market is expected to be just short of £1 billion by 2025. This rapid growth indicates the potential for the UK to become a global leader in this innovative area.
Policy Matters
Three-quarters of YouGov respondents believe that UK hemp farmers should be allowed to process hemp flowers and leaves. Currently, all CBD source material in the UK is imported, which calls for a reformation in the state of CBD laws in the UK.
Quality Assurance
There is a pressing need for better self-regulation in the CBD industry. A significant number of products on the market do not provide the amount of CBD they claim to.
Conclusion
The CBD market in the UK is on an upward trajectory, and the numbers are here to prove it. With policy reforms and stringent quality checks, the UK has the potential to become a global leader in the CBD industry.
