“The CBD industry is fast evolving and since launching Love Hemp in 2015, we’ve seen incredible acceleration within the UK market. CBD is quickly becoming one of the fastest growing health and wellbeing product categories within the UK and it’s already predicted that the UK CBD market will experience considerable growth in the next 5 years.
I believe the UK CBD market will change for the better come April 1st 2021, as the novel food application system helps to regulate the currently unregulated market. Many unregulated products and brands will be removed from the market following this, consequently helping to create a trusted, safe and well-regulated environment for the future of CBD in the UK.
The COVID-19 pandemic has positively impacted the CBD industry, shifting consumer focus towards wellbeing and self-care products. More people than ever before are turning to supplements and CBD to support their health from home, and I predict that this will continue to grow alongside the demand for natural, traceable ingredients. The key for retailers here will be to ensure all CBD products are clearly labelled in-store and online, alongside informative collateral that aids consumer understanding of the product and dosage requirements.
Like many other products, consumer shopping behaviour of CBD has moved to primarily purchasing from online retailers. Love Hemp has experienced a surge in online sales since the start of the pandemic, and I believe online health and wellbeing brands will continue to emerge beyond the ‘new normal’ as consumers look to convenience – especially for repeat purchases.
The future is bright for the CBD industry, and I am looking forward to seeing the exciting new product developments that will inevitably follow and support even more people over the next five years.”