The legalization of Cannabis oil as a therapeutic drug has created quite the boom in this sector with investors trying to find out the best ways to make use of this opportunity. What makes it a favorable investment is the acceptance of CBD edibles by the people at large to combat with pain, depression, and anxiety etc. Though the picture still remains quite muddled up, let’s throw some light on the topic.
CBD oil is one of the 104 chemical compounds that are found in the marijuana plant. Tetrahydrocannabinol commonly known as THC happens to be the main psychoactive substance that is clinically found in cannabis.
Unlike THC, CBD is not psychoactive and hence has got the legal permit to be used as a controlled drug. Considering this, people have started making use of this compound for various purposes, which makes one thing definitely clear-its future is bright. After seeing so many plus points of CBD till date, in the near future, it is expected more countries will make it legal and will harness its power to cure many diseases.
Here in this article, we will talk about its utility in the UK, where it is a legal compound and what all it in stores for the future:
No doubt, now it is legally permitted to use this compound in the country, but one is allowed to do so in set percentages only. So it is important to know these rules about Cannabis Oil in the UK.
1) Only specialist doctors in the UK can prescribe cannabis-derived medicinal products legally. Also, it is to be used in the controlled form with the proportion of THC Content not exceeding 0.2%, and it also shouldn’t be easily separable from the base being used to administer the drug. CBD oil is extracted from the flowers while THC is derived from the hemp.
2) THC is the psychoactive component of cannabis that helps people get high. CBD does not have this type of effect in any form of drug administering and that is why it has been brought into use. This is one of the major benefits of CBD oil. It doesn’t support addiction; moreover, it combats it in certain cases.
3) For industrial help, it can be grown in the UK, but with the presence of a legal license only. There is a strain of Cannabis plants that contain little to no THC component, and this is from which the CBD oil is extracted. As CBD is now a legal cannabinoid, it can be sold through prescription only. It must be noted that Cannabis still remains banned under the federal law.
4) The MHRA has ruled that if CBD is being advertised by companies to be used as a therapeutic drug then it has to be licensed for the same. Procurement of the same is quite difficult with various procedures to follow and requirements to be met with.
There are certain trends worth noticing about CBD growth:
1) The CBD oil market will be accelerating forward with a CAGR of 31%. A bullish market can be expected when it comes to these industries in the very near future given the current day usage of the compound. It is growing at a fast pace and will continue to grow.
2) The incremental growth rate projected about 2022 is about $1.9 bn. The highest growth spectre can be noticed in this sector where all thanks goes to the developing consumer market for the product and its variants.
3) What can be said about the market as of now is that it is very concentrated with only a few keen players owning major shares. One needs to take note of this fact because, in the very near future, this market might as well become highly impenetrable for both new companies as well as new investors. It is quite the product of the future. So this is the only time to invest in it.
4) Also, another thing worth noticing would be the millennial population who would come on to become the largest group of consumers, where America alone can account for 80% of the growth in usage of CBD. Thus, CBD market growth in UK seems quite prominent and promising.
5) When consumers look forward to buy CBD oil, it is mostly in the form of edible gummies or easy to use vapes. A particular reason behind this could be the trends relating to the same. What needs to be noted is the form in which CBD oil can be found and in which it can be used as this is what will add to its growth in the market both presently and in the near future.
It is essential to study consumer behavior in order to anticipate the demand and forecast the usage of CBD oil in future. The market has shown steady growth as soon as it received the legal nod, but then again the market has constricted itself to a few key players. Now, is the best time to enter the market, as there won’t be many chances or opportunities to do so in the near future. CBD is growing and it will definitely see a tremendous growth in the future but with the only condition; if it will be used the right way, in right proportions.
The wonder compound has already arrived; we just need to harness its power in the right way!