There’s been an increasing demand for cannabis and cannabis related products. This is expected with the worldwide movement to legalise marijuana, especially in the United State of America. Marketers have tried to sell our editors CBD oil based products claiming it cures a number of chronic problems, reduces blood pressure, helps with weight loss, among a host of other benefits. We recently interviewed Jon Outram, co-founder of e-commerce startup CBD OIL Base to gain some insights into this growing health industry.
Why Has CBD Become so Popular?
The idea of being able to use cannabis and redeem its benefits, without having THC cause intoxication in a user’s system, makes CBD very appealing to people. Those who use CBD products really enjoy being able to take advantage of a substance to boost their wellness through supplementing their endocannabinoid system. Over recent years, it seems like pills are being prescribed left and right, which makes a natural option a lot more desirable and less threatening for those searching for alternatives.
Who are Your Biggest Competitors?
Right now there isn’t one particular dominating force in the CBD market. However, lots of shops selling CBD products have popped up all over the place, all over the world in the last two years. The market has just exploded with retailers and manufacturers producing CBD oils and vapes, especially with many countries starting to legalize cannabis for both recreational use and medicinal reasons. However, there are a lot of places selling CBD that aren’t reliable, so consumers really need to be careful where they make their purchases from.
What are Your Challenges?
As mentioned previously, there’s a lot of CBD companies that make false promises and claims about their products. Because of this, one of the biggest challenges that we have in this industry is being able to educate people about the benefits of CBD and giving them accurate information that they can trust. We have to make sure that we are following the FDA and MHRA regulations at all times, and it’s important to us that we relay those standards to our customers as well.
What are Your Goals?
Of course, our biggest goal is to become the biggest seller of CBD products in the UK. However, we want to do it the right way and make sure to educate everyone we can along the way with true and accurate information. There are so many companies out there that are giving consumers very misleading information that can’t be trusted, so as we get bigger in this market we will also be making sure that we present ourselves as reliable and factual according to the FDA and MHRA guidelines.
Finally, where do you see the market in 3 years?
It’s really hard to say where the CBD market will be in 3 years, but we are definitely seeing a trend of more people going in the direction of using CBD and other cannabis supplements. We expect this market growth to be at least three times bigger than it is now, especially with more western areas legalizing cannabis. Many stores and street markets are booming selling these products as well, and since it’s become so popular so quickly since 2016 it can be anticipated that this growth will only continue. The more different cultures get used to cannabis and comfortable with it, it is only inevitable that our market will thrive from it in the long run.