The CBD industry in the UK has grown substantially over the past couple of years, and it is not showing any signs of slowing down. While the sector is still very much in its infancy, predictions suggest its market value will more than triple by 2025, reaching an estimated £1bn. Sales of CBD products have increased steadily so far in 2021 and will likely continue to rise as the economic effects of the pandemic decrease.
What is Causing the Growth?
A few things are driving the remarkable growth of the industry. The primary factor is demand. Since CBD started to become more mainstream, there has been an ever-increasing demand for new and innovative products. With more information available about the potential health benefits of cannabinoids, more and more people are turning to CBD as a natural remedy with a small incidence of side effects.
The variety of products containing CBD on the market is stimulating increased interest in the industry. You can buy CBD gummies, oils, vapes, and even moisturisers. The sheer volume of products you can discover from retailers like Handpicked CBD means that many people are interested in trying them for their possible health benefits.
Will Medical Marijuana Become More Popular in the UK?
The increased popularity of CBD in the UK has led to many calls for its widespread use medicinally. At present, however, it seems as though widespread adoption of medical marijuana is a way off if it will ever truly become common.
Right now, there is limited evidence to back some of the claims that advocates of CBD make about its health benefits. Studies are ongoing, and some have shown promising results when it comes to treating specific ailments. Still, at present, the therapeutic use of CBD is limited to a handful of conditions.
It is important to note a distinction between CBD prescribed medically and CBD supplements that you can buy. Medical CBD is used to treat several rare conditions like some types of epilepsy and multiple sclerosis. CBD supplements are just that, dietary supplements, and while many people claim they have helped them with a range of issues, scientific evidence is sparse at present.
Whether we will see more widespread adoption of cannabinoids in conventional medicine is somewhat unknown at present. As previously mentioned, there are very few circumstances that will result in a prescription for CBD. As more research is performed on its effects, we may begin to see natural treatments for more conditions more widely accepted in the medical community.
The Future of the Industry
Overall, the CBD industry looks likely to continue its boom over the coming months and years. The UK is quickly becoming one of the largest producers of cannabinoids, and the wide range of products containing the compound continues to increase rapidly. While there is not much scientific evidence showing some of the suggested benefits of taking CBD supplements, there are many anecdotal accounts of how the cannabinoid has helped people. As such, interest in the market has spiked, and many expect more interest going forward.