The legalization of medicinal cannabis products will stimulate the use of marijuana extract CBD in drinks, says GlobalData
Following the news that medicinal cannabis products are to be legalized,
Aleksandrina Yotova, Consumer Analyst at GlobalData, a leading data and analytics company, offers her view on the likely impact in the drinks market:
‘‘This change in legislation for medicinal cannabis will spur further growth in the Cannabidiol (CBD) market in drinks, an increasingly popular legal form of cannabis.
‘‘CBD is a marijuana extract, which is not considered a controlled substance in the UK, and is therefore 100% legal – as opposed to the psychoactive chemical Tetrahydrocannabinol (THC).
‘‘CBD has recently started to gain traction in the UK market as a functional ingredient in drinks. As CBD is non-psychoactive and there is a widespread belief in its medical value, it will keep rising in popularity, especially among consumers wanting to relax while remaining sober.
‘‘Holland & Barrett has been selling CBD oil as a food supplement since the start of 2018. The retailer has recently reported stable and growing sales of the format. Consequently in June, Holland & Barrett launched Love Hemp Water, a functional spring water infused with CBD. We expect to see more brands moving into this space.
‘‘Cloud 9 Brewing, a craft beer producer in the UK has recently launched its High Flyer Session IPA with Cannabis Oil Extract, marketed as offering "blissfully elevated drinking experience" and containing 0% THC. A 330ml bottle contains 10mg of CBD extract, obtained from organic Cannabis Sativa.’’