In association with Unbox London we hosted a panel discussion this morning (9th October) on "CBD: Where are we now?"
The panel offered some very interesting insights into the current state of the UK CBD market and shared their predictions and hopes for the coming 12 months. The diverse panel covering strategy, retail and medicinal policy and regulation presented a variety of viewpoints, yet were unanimous in their calls for regulation to be introduced to help clarify the CBD market, both in the UK and Europe. The panel also shared the view that the consumer wants and needs to be accurately guided about what CBD product (and percentage level) is best suited for the results they are seeking. A recent blind testing of CBD products, which discovered that some CBD products examined had no CBD present, was highlighted as an example of where trust and transparency of the market was critical to its continued growth and longevity.
L-R: Shomi Malik; Henry Fisher; Rebekah Hall; Johan Obel; Jimmy Kyriacou
The panel hoped that a key UK retailer would enter the CBD market in the next 12 months helping to motivate the regulator to provide better clarity for consumers, which in turn would help to build trust in the market; a market that is doubling year on year. At that point brand building would become important, as trust and PR would be linked to merit and credibility.
UK cultivated hemp was another area that is considered to have big economic opportunities, and some of the panel hoped this industry would benefit from policy changes leading to us seeing UK derived CBD actually appearing on UK shelves.
Our thanks to the organiser and moderator Jimmy Kyriacou, Unbox London and the panel:
Henry Fisher : Founder & Chief Scientific Officer at Hanway Associates
Shomi Malik - Development Director at The Centre for Medicinal Cannabis
Rebekah Hall - Founder and CEO at Botanic Lab
Johan Obel - Co-Founder of TheDrug.Store