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UK CBD market ‘the world’s second largest behind US’, association body claims Consumer demand for CBD products has soared during lockdown, according to the Association for the Cannabinoid Industry (ACI), which estimates the sector will generate £690 million in annual sales this year, above a previous forecast of £526 million.
The body’s new report, jointly written with the Centre for Medicinal Cannabis (CMC), concludes that the UK now has the most evolved regulatory framework in the world for CBD, citing recent interventions by the Foods Standards Agency to consider what are safe and tolerable levels of THC contained in products. The FSA began formally accepting Novel Foods applications for CBD products from January 2021.
Food law experts concerned about CBD novel foods process as FSA reveals first products list Food law experts have voiced their concerns over the novel foods process for CBD products as the FSA publishes its long-awaited, but somewhat short, list of products allowed to remain on the market.
The list contains 22 products from just three companies: Chanelle McCoy Health (Pureis), CANNABIS Pharma s.r.o, and Health Innovations (UK) ltd.
Companies in England and Wales had to submit their novel foods dossiers to the FSA by March 31st if they wanted their CBD products to be able to legally remain on the market.
Concessions enabling more CBD products to meet the Food Standards Agency’s (FSA’s) novel food application deadline suggest the UK could be becoming a major player in cannabis edibles, according to law firm Fieldfisher.