The CBD market is one of the fastest-growing industries in the world and is only becoming more popular as the years go by. The United Kingdom is one of the biggest CBD consumers on a global scale and the market is ever growing, offering a huge range of products which suit all needs.
From standard CBD oils and CBD gummies UK to more unique offerings like tea and bath bombs, people can choose the products that work best for their lifestyle and try out different approaches.
According to the Association for the Cannabinoid Industry (ACI), the UK has become the world’s second largest consumer of CBD, following the United States who are officially the biggest consumer. The UK is said to now spend more on CBD than vitamins B and C combined, becoming an everyday wellness supplement which is overtaking more traditional vitamin supplements.
The current CBD market
As the market continues to grow, so does the number of CBD suppliers across the country. As the industry thrives, we are starting to see more regulations come into play, changing the way we buy CBD products. The FSA are introducing new regulations which not only increase the safety of the products, but the quality of them too. This gives consumers peace of mind that they can trust the purity of the CBD products they are purchasing, not being able to exceed the 0.3% THC limit.
Experts are predicting that we could see a significant reduction in the number of CBD companies in the years to come as many brands are choosing to leave the market. Whether this is due to increased competition or the new regulations which ensure only legitimate suppliers are able to operate, it is looking to be a positive for consumers. Although competition is becoming stronger, so is demand; more and more consumers are learning about the benefits of CBD and there is now a growing market for the elderly, disabled, and even pets.
The cost of CBD in the UK
Some people believe that CBD is too expensive in the UK since it can be found cheaper overseas, however the reasoning for this can justify the price points you find. Of course, importing the cannabis from overseas in countries which allow the plant to be legally grown comes with transportation costs as the business has to source quality ingredients rather than illegal ones. The extraction process is another aspect which requires industry standards to be met, incurring a high level of labour and some advanced equipment to achieve a pure form of CBD oil.
Although finding ‘cheap’ products can be possible, asking yourself whether the supplier is a legitimate source is paramount. You want to be purchasing legal CBD which aligns with regulations to guarantee that you are consuming a safe product that meets legal guidelines and only contains natural ingredients without any added nasties.