How will the CBD market evolve?

The CBD market is one of the most exciting areas of business to venture into at the moment. As myself and my co-founders of NaturalWorks have found, it’s a constantly shifting environment that never throws the same two challenges at you. Our biggest focus has been on de-stigmatising CBD and on raising awareness about the benefits of CBD.

We are excited about the prospects of using CBD alongside traditional medicine for things like chronic pain or mental health issues, but also for general wellness applications. Although hemp has been used for thousands of years, research into CBD is in its infancy and this will provide the biggest opportunities for the CBD market to evolve over coming years.

Of course the biggest challenge facing members of the CBD industry is this issue of raising awareness through education, and convincing consumers that there is rigorous scientific basis for the use of CBD. We have proudly partnered with a leading UK based scientific advisory, which enables us to use scientifically-backed evidence for our advice to consumers. It feels like the industry is at a cross-roads right now, and as an industry we need to make the right decisions to promote CBD as a legitimate avenue for health and wellness applications, and not have it dismissed as a fad.

Luckily the government seems to be on our side, as they are finally bringing in regulation in March 2021. The UK’s Food Standards Agency (FSA) will require any company selling ingestible CBD products to have a ‘novel food dossier’ approved, which requires a rigorous application to be submitted. This is a huge step for the legitimacy of CBD, especially after the ‘wild west’ of recent years that have completely lacked any form of regulation.

The future of CBD looks bright, especially with this new legislation coming in. All in all, it looks like an end to the ‘free-for-all’ stage of the CBD market, but a much brighter and more respectable industry is rapidly closing in.

 

By Maximilian Moldaschl

 

About the author

Maximilian Moldaschl

Maximilian Moldaschl is the Chief Financial Officer and Co-Founder of NaturalWorks, a brand new organic high-quality CBD provider offering only the finest Swiss hemp derived products.

Having discovered CBD whilst suffering from work-based stress in his previous banking role, Maximilian quickly realised the potential that CBD could offer to other stressed-out professionals and wanted to provide high quality CBD oil that helps consumers to de-stress and take in nature. Alongside this Maximilian also sought to help remove the stigma around CBD by creating an unbiased, evidence-based library of information.

NaturalWorks believes that nature holds the key to healthier living and an improved lifestyle. Our mission is to harness the vast untapped potential of hemp to create natural solutions to very real challenges. We believe in using the gifts of nature to heal and help the mind and body, alongside rigorous scientific research to unlock the powerful potential of hemp.

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