Where to Start with Creating Your Own CBD Product
The CBD industry is growing rapidly. A dramatic increase in the use of cannabinoids, a substance extracted from the cannabis plant, has meant it has been featured in a huge amount of medical studies. Surveys conducted in May and June 2019 by Dynata and YouGov indicate that between 8-11% of UK adults respectively (approximately 4-6 million people) have tried a CBD product.
Market research commissioned by the Centre of Medicinal Cannabis (CMC) believe the CBD market is currently worth around £300m a year. If growth continues at the rate it is, the CMC believe it will be worth around £1bn per year by 2025. That’s around the worth of the entire UK herbal supplement market! This equates to a 45% growth rate. For comparison, the soft drinks industry growth is around 3% and tobacco at 1.2%.
Due to being related to the cannabis plant, CBD is subject to a wide range of regulations in the UK. However, even though CBD is legal, CBD oil cannot be used as a medicine due to licensing. This means that manufacturers and retailers are unable to sing about the medical benefits of CBD. This guideline is set by the Medicines and Healthcare Products Regulatory Agency (MHRA). It’s likely that consumers are looking at CBD products for this reason, this hugely effects marketing. However, the wellness benefits of CBD are allowed to be discussed.
However, using weed-related imagery in your marketing should be avoided as this gives an untrue idea of CBD. Attempts to link CBD products to drug use will hinder the legality of your product and marketing strategies. Products cannot be marketed as a medical product due to regulations.
Be Aware of THC Content
There are legal limits on how much THC is allowed in CBD, this is currently set a 0.2%. There is a limit of 1mg of THC per container or bottle, no matter the size. The National Pharmacy Association (NPA) released a document in July 2019 stating that any amount of THC in a CBD product, even trace amounts, would classify a product as a Schedule 1 Controlled Drug. This severely restricts the sale of CBD products.
Quality of Ingredients
Never cut corners! Take your time to source quality materials that are made in professional laboratories with high standards. CBD products such as cosmetics and eliquids are to be made and packaged in ISO-certified clean room conditions. All products must have lab results available to show the percentage of cannabinoids and the amount of THC to highlight its within its legal limits. The results must also show no contaminants.