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Cannabis Europa discusses CBD: boom or bust? 

London’s annual cannabis event returned to explore all aspects of Europe’s cannabis industry. 

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Cannabis Europa discusses CBD: boom or bust? 

At Cannabis Europa a panel of experts explored whether Europe’s CBD market has a bright future.

CBD companies have been popping up at a rapid rate but the industry has limited regulations and standards, with low barriers to entry. So, does this industry have longevity? Or, will CBD brands fall to the wayside as customers choose in favour of larger, already established brands that utilise the ingredient? 

“I would argue there is the same low barriers to entry in the medical cannabis world,” commented Clifton Flack, founder and CEO of CiiTech. “Because all you need to do is have a good idea and promise to build a cultivation facility or promise to build the extraction facility and you can raise millions of pounds and you don’t have to worry about making revenue for two or three years. Whereas in the CBD world, there is no licensing, so to speak, required – the revenue is instant.

“Anybody can build a brand, anybody can build a website. It is very easy to build a mock-up and your logo and talk about something that might hopefully sell in the future – it is very, very different to build your brand that sells today. And I think that is the biggest barrier to entry in the entire cannabis industry – I am talking about THC and CBD.”

Flack highlighted the difference in regulation in different countries as a learning curve, raising the barrier to entry. 

Stanton McLean of Artemis Growth Partners commented: “When we ask the question boom or bust, I am going to say boom, because for me personally, what it has done for me has been extraordinary. And I say that in terms of weight, anxiety, in terms of sleep – it worked for me. I definitely wanted to get more understanding about what was going on in CBD what was going on in medical cannabis. 

“I think that we will continue to see a thriving opportunity for CBD and then for particular brands that invest appropriately in marketing to get their product known and get a good base behind it.”

“You buy CBD because it is giving you some kind of benefits – it is a lower dose health and wellness where you do not feel the effects, but you have got to have a blood test before, and in six months after,” added Flack. “It is absolutely healthcare – why would you buy CBD for fun? You do not get high from it. You think with THC, maybe the patients get medical cannabis for fun. It is healthcare. I think that is a really important way to look at the sector.”

Prohibition Partners co-founder and CEO, Stephen Murphy, panel host, queried whether products such as drinks, chocolate and lollipops are beneficial to educating consumers on CBD.

Kingsley Wilson, CEO at Chrystal Capital Partners, commented: “That is an important point, you can look at the whole array of different products on the market, but when we look at it from an investment perspective – which are the segments where we can get the highest margins and the highest growth you know – you can start at the retails CBD brands, there is no differentiation.”

Wilson went on to say: “When you get towards the medical side, people attach a higher value to: this [product] helps me with my anxiety or my sleep and therefore I am willing to pay and once I find a product that works, I will continue to buy it. Therefore, the companies that are spending on marketing win those customers and then you get your long-term lifetime value of that customer and that is ultimately what drives profits which is what drives investor returns.”

Wilson also highlighted the importance of understanding regulation for CBD companies looking to make it in the competitive market.

McLean commented: “My personal view is that the money will continue to come from net worth and family offices for some time until we see some changes in this and it becomes more federally legal. I think seeing the institutional market come is going to take some time for now. I think we are continuing to focus on the high net worth and family office funds.”

“We need to educate institutional compliance departments and get them comfortable and investing and that is when you are going to see the bigger companies come and list in London,” added Wilson. 

“In the next couple of years, we will start to see the bigger blue chips investing, and that will put a massive injection of capital into the European markets to enable us to fulfill these numbers that people are expecting.”

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JM Wholesale sees 750 products included on FSA CBD list

The CBD stockist has described the development as a milestone for the company.

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JM Wholesale sees 750 products included on FSA CBD list
Home » News » CBD » Cannabis Europa discusses CBD: boom or bust? 

Following a partnership with the European Industrial Hemp Association (EIHA) and active participation with the Food Standards Agency (FSA), JM Wholesale has had more than 750 items included on the public CBD list.

Earlier this year the FSA published its list of CBD products linked to what it deems as credible Novel Food applications. Products included on the list will be advancing through the final stages towards authorisation, expected by 2023. 

More than 900 applications for thousands of UK products have been submitted for approval, with the majority being rejected for lacking basic information such as toxicity levels.

JM Wholesale has announced that it has now had 750 of its products included on the public list.

Read more: FSA CBD list now closed for applications

Thomas Lowe, operations director at the Leicester-based company, said that, after 200 per cent business growth in the past 18 months and a resulting move to major new premises, JM Wholesale is now perfectly placed to consolidate its position as the UK’s premier CBD wholesaler.

Lowe commented: “We have a larger range of approved CBD products than any other distributor and this moment is another milestone for our company.

“We’ve worked hard to ensure that our customers and our business are protected, by getting rid of any products not published on the FSA’s website, regardless of how big those brands are.

“In fact we’ve always loved finding unique products, including those where the CBD can be absorbed in different ways. That way, more people from different walks of life can enjoy CBD no matter how they prefer to access it.

“From our distribution centre we now provide the largest range of isolate and full spectrum CBD products in the UK, all of which are 100 per cent accepted by the FSA.

“We are the first distributor to add the relevant Novel Food classification numbers to all of our relevant listed products.

“The past few months have been extremely challenging for our industry but we have made efforts to take an active role in the novel food submission process. We anticipated regulation of this industry, we were determined not to let it stand in the way of the growth of our business, and we’ve participated accordingly.

“All in all, this is excellent news for our customers and partners.”

The company has stated that it has experienced rapid growth off the back of increased awareness of the health benefits of CBD products in the UK, and that, alongside its consumer business, it also exports to suppliers in the UK and in 170 countries worldwide.

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FSA CBD list now closed for applications

An additional 6000 products added to the Food standards Agency’s (FSA) CBD list.

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FSA CBD list now closed for applications
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The FSA has confirmed that the UK’s list of CBD products linked to credible Novel Foods applications is now closed.

The FSA has updated its public list of CBD products that can be marketed in England and Wales, adding almost 6000 products. These are products that are linked to a credible application submitted for authorisation to the FSA, and are not new to the market.

The organisation has confirmed that the public list, which was initially published in March, is now closed and has stated that any further requests to have products put on the public list or evidence sent are no longer being accepted.

Read more: FSA adds thousands of additional CBD products to public list

The FSA has previously reminded consumers that products on the list will be able to remain on the market as they progress towards final authorisation, but that, although these products are classed as “credible”, it does not guarantee they will be authorised for sale.

Rebecca Sudworth, director of policy at the FSA, stated: “This has been a long and complex process and we are grateful for the help and cooperation of the CBD industry as we reach this important milestone on the path to bringing CBD products into compliance and protecting consumers. 

“The only changes we envisage being made to the list now will be to reflect the status of products as we move to authorisation, and any routine corrections.

“We have seen the list, which contains almost 12,000 products, grow considerably since March when we first published it. The publication of the initial list prompted a number of companies to come forward with new evidence linking large numbers of individual products to existing applications, and so we made a final call for evidence to support businesses in achieving compliance for their products. 

“We think it is important we get this right, and it is encouraging that so many companies want to get their CBD products on the path to authorisation.”

Read more: Authorised UK CBD products expected by 2023

Businesses wanting to sell their products in Great Britain should now apply to the FSA’s regulated products process and those wanting to sell in Northern Ireland should apply to the European Commission. However, as new applications will not be eligible for the public list, they should not be put on sale until they have been authorised.

Validated applications on the CBD list are currently moving on to a full risk assessment stage of the application process, and those that are shown to be of a low enough risk must also go through a risk management process before a recommendation can be made to Ministers on authorisation.

At the time of the list’s initial publication in March, the FSA confirmed that, with a lengthy process still to go, it is unlikely any applications will be considered for authorisation before early to mid-2023, with any additional authorisations potentially taking another few years.

The FSA emphasises that there are currently no authorised CBD products on the market.

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British Cannabis™ launches premium CBD products in Selfridges

The CBD by British Cannabis™ collection will be showcased in the Beauty Hall at Selfridges London.

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British Cannabis™ launches premium CBD products in Selfridges
Home » News » CBD » Cannabis Europa discusses CBD: boom or bust? 

British Cannabis™ is launching its premium, flagship range of CBD products in Selfridges.

British Cannabis™ will launch its super-premium collection of 100 per cent cannabis supplements and cosmetics in Selfridges on 4 July, 2022.

All of the food supplement products in the CBD by British Cannabis™ collection were recently included on the Food Standards Agency’s (FSA) public list of products that are legal for sale on the UK market. 

The products’ appearance on the list followed the company’s successful submission of Novel Foods applications. 

Read more: British Cannabis celebrates 310 products on FSA CBD list

A recent update by the FSA saw British Cannabis™ ranked as the UK’s largest CBD manufacturer by number of publicly listed CBD products manufactured.

CEO, Thomas Whettem, commented: “This is yet another great milestone in the British Cannabis™ story. It is a testament to the levels of excellence we demand within our supply chain and products, that we are now stocked at an iconic, prestige retailer in Selfridges.

“We set out to create ‘the champagne of CBD oils’, with more beneficial cannabis phytochemicals than any other CBD products compliant and legal for sale today. 

“Our premium, THC-free products are both UK-born and UK-manufactured, thus debuting in Selfridges London seems very appropriate.”

British Cannabis™ launches premium CBD products in Selfridges

CBD by British Cannabis™ products have won multiple awards in recent years, including the Highly Commended 2021, P3 MVP Award for 1000mg CBD Cannabis Oils, ICP magazine’s 2022 CBD Product of The Year, and Your Healthy Living magazine’s 2022 Silver Award for Best CBD Products (for CBD by British Cannabis™ Dermal Patches 500mg).

The 100 per cent cannabis products contain hundreds of other beneficial cannabis compounds, terpenes, flavonoids, phenols and more, whilst still being compliant with regulations and legal for sale within the UK. 

Each product is rigorously tested for accuracy, purity, and THC-free status for consumer peace of mind.

Every product contains the knowledge and expertise that has been amassed over the last seven years of British Cannabis™ existence, evidenced in the growing, extraction, research, development, and manufacturing that saw this British start-up grow to be the leading authority in consumer cannabis products within the UK.

The company launched a television campaign in March 2022 for the range as part of a half a million pound investment in awareness building and consumer recruitment 2022/23.

The campaign aimed to break down barriers to legal cannabis-derived products, gaining broadcaster approval to make more industry-specific references than any campaign to date.

Shown across dozens of premium channels on the SKY and Channel 5 networks, this marked the first time that the SKY network had opened its doors to CBD advertisers on their linear stations since 2019.

Read more: CBD by British Cannabis launches nationwide TV ad campaign

British Cannabis™ managing director, David Ralson, commented: “As proud as we are of our tested, trusted, super-premium CBD supplements and cosmetics, we are equally proud to now be bringing them to the world-class shopping experience at Selfridges, as part of our distribution expansion plans.

“For over a century, Selfridges have brought premium health and beauty products to the forefront in exciting ways – and especially in their new Feel Good Bar. As one of the UK’s original British-made CBD ranges, with a heritage in this young industry of nearly seven years, the match of Selfridges and CBD by British Cannabis™ seems a perfect fit.

“I hope that Selfridges shoppers grow to love and trust our CBD range as much as our existing loyal customer base, who over the years have given us over 1,500 5-star reviews on Trustpilot.”

With sales of wellbeing supplements, superfoods and ingestibles up almost 125 per cent at Selfridges since last year and almost 700 per cent compared to pre-pandemic, The Feel Good Bar will launch as a new permanent wellbeing destination at Selfridges London. 

The bar will be a place for visitors to explore more than 250 of the latest and best products in wellbeing innovation, ranging from gut health to hormones, hangover cures and sleep hacking. 

The destination will be anchored by a new energy-lifting bar concept brought by JENKI, introducing a menu of matcha and alternative drinks that reimagine drinking culture.

British Cannabis™ launches premium CBD products in Selfridges

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