5 CBD Issues of 2021
The legalization of hemp growing by Congress caused a surge of interest in products containing CBD. In 2021, companies actively involved in the production of cannabidiol oils will want to pay close attention to several current public issues. Just a few of these items of concern include:
1. POSSIBLE FDA ACTION IMPACTING CONSUMABLE CBD PRODUCTS
On its website, the FDA admits the agency has not yet completed it scientific study of the active compounds in cannabis. So far, only a single drug containing CBD has received approval. One of the most important developments during 2021 may relate to new regulatory rulings concerning the use of cannabidiol in consumable products.
2. WHOLESALE PRICE ISSUES
The legalization of hemp by Congress spurred a bumper crop during late 2019. This development significantly impacted CBD wholesale market prices the following year. As 2021 proceeds, numerous industry analysts will likely pay close attention to both hemp market supply and CBD demand levels among wholesalers.
3. POTENTIAL CONGRESSIONAL ACTION ON MARIJUANA DE-CRIMINALIZATION
Another issue to watch closely this year relates to the passage of legislation removing cannabis from the Federal Controlled Substances schedule. Since CBD poses an active ingredient in cannabis (along with THC), this development might significantly impact the marketplace for cannabidiol oil. Currently, most states closely regulate hemp growers to ensure THC levels in legal hemp crops do not exceed specified minimums. This regulatory framework might well undergo significant modification in the event regulators remove cannabis from the list of controlled substances.
4. CBD RETAIL SALES
Changes in the retail structure of CBD markets also interest businesses. Statistics indicated online sales outperformed traditional brick-and-mortar venues during 2020. Will this trend change this year?
5. BRAND POSITIONING
The re-positioning of leading CBD brands may generate intense interest during 2021. Mainstream corporations might choose to add CBD to some product lines. FDA action could impact this important innovation.
All of these potential issues concern industry analysts. By monitoring news items closely, businesses engaged in the nascent CBD industry enjoy a better chance to respond quickly to new developments. The next few months may prove pivotal!
Originally published on Dr. Kayvan Haddadan’s website.
