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UK CBD Requires Better Regulation and Reform as Industry Moves Towards Billion Pound Sector Status

Thursday 27 June, 2019

LONDON -- Thursday, 27 June 2019 -- The Centre for Medicinal Cannabis (CMC) today calls on politicians, policy-makers, regulators, producers and retailers to play their part to achieve the shared goal of a UK CBD sector that is innovative, responsible and high-quality, delivering both economic benefits, social value, and individual wellbeing.



The CMC will release its new report “CBD in the UK: Towards a responsible, innovative and high-quality cannabidiol industry,” after conducting the most comprehensive review ever undertaken of the sector in the UK.



Market research commissioned by the CMC estimates that the CBD market is currently one of the fastest growing wellbeing product categories in the UK. At the current rate it will be worth almost £1B per annum by 2025, equivalent in size to the current entire UK herbal supplement market.



The report’s wide ranging recommendations include:



Later this year the CMC will announce further developments, towards creating the first credible, industry-owned self-regulation initiative backed by many of the reputable CBD companies operating in the UK with a permanent laboratory testing and accreditation partner.



The report is comprised of four elements:




Key Market Research Findings



Key YouGov Survey Findings



In addition to recommendations related to regulation, the CMC calls upon the UK Government to support a thriving CBD market, currently reliant on imports. By allowing farmers to legally cultivate hemp for the commercial purpose of harvesting the flowers and leaves to extract CBD.




CMC Expert Quotes



Steve Moore, CMC Founder and Strategic Counsel
“The wave of popularity around CBD, which offers huge opportunity for the UK itself, now needs to be grounded on a strong foundation of research, proportionate regulation, and quality standards. We intend The CMC to play a role in building that strong foundation.”




Dr Andrew Yates, CMC Pharmacy Lead
“Despite its importance and therapeutic potential, and the scale of the British consumer’s appetite for cannabidiol, this report shows that we are some distance from the type of CBD sector that we need. The UK’s legislation is ambiguous, out-dated and fragmented, quality is not defined, product composition is not guaranteed, and poor marketing practices are all too common. UK consumers are being let down as a consequence.”








Blair Gibbs, CMC Policy Lead
“Protecting consumers means mitigating risks. It also means providing accurate information to inform choices of what to purchase and how to consume, and it also means suppliers meeting well defined quality standards. In respect of risks to human health, an under-regulated market could mean cannabidiol is in danger of being guilty by association. While no evidence exists of harm to human biology by CBD consumption, the manner in which CBD products are supplied complicates this picture. All consumers in the UK need and deserve to be safe, informed and lawful when they choose a CBD product.”


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About Centre for Medicinal Cannabis


The Centre for Medicinal Cannabis (CMC) is the UK’s first and only industry membership body for stakeholders operating in Cannabis Based Medicinal Products (CBMPs) and cannabidiol (CBD) wellness markets. We have a unique capability to engage intelligently and strategically with all influential political and public policy stakeholders, as well as relevant regulatory bodies, drawing on the experience from our global membership base. More information about The CMC can be found at www.thecmcuk.org.



Contact
Steve Moore, CMC Strategic Counsel, steve@thecmcuk.org +44 7870 515025

Bill Griffin, CMC Media Lead, bill@thecmcuk.org +32 472 572658







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