The Centre for Medical Cannabis (CMC) has claimed that the CBD sector can deliver huge benefits for the economy, society and even the individual and their wellbeing. As a result, politicians, policy-makers, and even retailers are being urged to play a role in the UK’s CBD sector.
This urgency comes off the back of market research commissioned by the CMC. “CBD in the UK: Towards a responsible, innovative and high-quality cannabidiol industry” is one of the most comprehensive industry reviews carried out in the UK and has revealed a booming industry.
The report reveals that the CBD market will be worth almost £1 billion per annum by 2025, with 1.3 million consumers already spending over £200M per year on CBD products. Approximately six million adults have used cannabidiol in the UK, with usage being higher among females than males.
With these revealing figures in tow, CMC makes a number of policy recommendations including allowing farmers to legally cultivate hemp for commercial purposes with the UK. It will be interesting to see how approaches to medical cannabis could change in the future and whether or not this exciting industry will be supported by strategic players.
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