Food market trends based on the therapeutic properties of cannabis
By 2024, the world market for CBD products, as well as products based on the therapeutic properties of cannabis flowers, should reach the $ 8.9 billion mark, while this segment of modern cannabis growing will increase significantly in those countries where the above type of activity will be provided with a regulatory framework, primarily in the USA (more than 4 times), Canada (almost 3 times), individual countries of Europe, Latin America, as well as countries of the Asia-Pacific region.
Noting a significant increase in the interest of national buyers in the market of hemp food products with significant therapeutic properties, the editors of the specialized electronic publication of Ukrainian cannabis growers turned to the specialists of the information and analytical platform Hemp Consulting for a comment on the predicted trend about the possibility of rapid growth of this sector of the hemp market in our country. Considering the absence of a regulatory framework regulating the possibility of using non-drug cannabinoids or plant leaves and inflorescences as one of the ingredients already present on the market (most of them imported into the territory of Ukraine outside the current rules and regulations) food, colleagues from Hemp Consulting referred to research of one of the most famous European analytical companies, which conducted this kind of market analysis. The results of the above studies of our foreign colleagues will most likely be of interest not only to industry specialists, cannabis growers in our country, but also to potential consumers.
One of the main market trends is not so much an increase in consumers who constantly use cannabinoid food products, but rather a rapid increase in the number of “casual buyers”, who in the future re-turn to this segment of modern cannabis growing. Another feature of the market is the fact that large transnational food brands are only “looking closely” at this segment of modern cannabis breeding. It is this fact that currently allows a significant number of artisan / handicraft products to be present on the market. Changes to the current regulatory framework will lead to the fact that in the coming years large multinational corporations will come to the industry, promoting their brands and “pouring” significant financial resources into this segment of modern cannabis growing.
Growth in sales of foods containing cannabinoids or hemp flowers
According to our colleagues, the projected market size for CBD products, as well as products based on the therapeutic properties of hemp flowers in 2020 will be about $ 2.79 billion. By 2024, the above world market should reach $ 8.97 billion. , at the same time, this segment of modern cannabis growing will increase many times in those countries where the above type of activity will be provided with a regulatory framework, primarily in the USA (more than 4 times), Canada (almost 3 times), and individual countries Europe, Latin America, as well as the countries of the Asia-Pacific region.
Commentary of experts of the Association "Ukrainian technical hemp"
At the moment, the regulatory and legal framework has been fully regulated in matters related to the possibility of using hemp flowers or cannabinoids in Canada and certain administrative territorial units of the United States. It is in the above-mentioned countries of North America that food products containing non-drug cannabinoids or cannabis leaves and inflorescences, which have significant therapeutic potential, are more popular than food products containing tetrahydrocannabinol in any quantity. Despite the COVID-19 pandemic, purchases of CBD products and products based on the therapeutic properties of cannabis leaves and buds have grown exponentially over time.
Including in connection with the above, during the round table "Experience of using therapeutic elements of technical hemp as raw materials for food, cosmetics, biologically active or feed additives", held on October 14 as part of the 5th course of training for students of the "Hemp University ”, A separate panel will be devoted specifically to issues related to the use of food, drinks, dietary supplements as a tasty and extremely useful means not only saturating the body with nutrients, but also having healing, restorative, and enormous therapeutic properties. Among other things, during the second day of training, the students of the "Hemp University" will be presented with the initiatives of the profile association of Ukrainian cannabis growers to amend the current legislation related to the creation of a departmental regulatory and legal framework regulating the possibilities of using the "green mass" of hemp plant for industrial purposes by methods excluding extraction.