05 Jun Global CBD Trends 2021
CBD or cannabidiol is a naturally occurring compound found in hemp plants. The Cannabis sativa plant imparts a calm or relaxed feeling and many other benefits. CBD is both popular on the shelf of retailers and mainstream media. The CBD market has been distributed due to COVID-19, resulting in disrupted production and distribution. This has affected the 2025 30 billion euro market forecast.
How CBD in Europe has been affected by Brexit
The UK formally left the European Union on the 31st of January 2021. Companies have had to pay tariffs on goods bought and sold across EU borders. Most goods entering the UK from countries in Europe have to complete a customs declaration form which causes a lot of complications when exporting products that contain CBD and THC. Many large Cannabis cultivators in Europe no longer ship CBD oils, flowers, tea and hash. This has affected CBD consumers in the UK who are using other CBD products which are making their way into the country.
Global Customer insight
A recent poll found that out of 1000 consumers (62%) have never tried CBD products. Today’s users of ingestible and topical CBD products are largely used by women, outpacing men two to one. It has been proven that the most effective way to introduce consumers to CBD is through CBD infused gummies. Data confirms that 6 in 10 new CBD customers are more likely to try sweets than oil.
CBD Product Expansion
We can expect to see growth in the soft-gel, creams, tinctures, sprays, edibles, infused beverages, chewing gums, flowers and pet products. The challenge will be to help teach the consumer what product will suit their needs. Although CBD products are largely marketed as supplements, some users could experience side effects which they should speak with a health professional.
