For most food brands, the impact and consequences of the COVID-19 pandemic will be long-lasting. While bringing with it serious obstacles, the global crisis has also brought about opportunities, however. For instance, it has accelerated health and wellness trends among individuals.
The CBD industry is one of the sectors that have benefited from this trend. At the moment, however, there is little solid evidence linking CBD use to improved health.
The Harvard medical school reveals that CBD may soon become an option for managing cases of chronic pain, insomnia, and anxiety. Additionally, the compound responsible for making users high can be added to beverages and food. However, further research is needed to confirm or support these claims.
Currently, more than 8 million people in the UK are now purchasing CBD products. According to a report published by the certified CBD seller Alphagreen.io in May, the CBD market is poised to grow by 50% in comparison to last year.
Love hemp, a CBD manufacturer, based in London and one of the bestselling CBD brands in the UK, announced an increment in online sales during the Covid-19 crisis. From January to May 2020 alone, the number of online sales exceeded those of the previous year by 107%.
According to the CEO of Love Hemp, Tony Calamita, the coronavirus pandemic has accelerated specific trends within the consumer sector.
Existential Threat to CBD Industry
There is news that the European Commission intends to classify CBD as a narcotic instead of novel food. This means that it will be impossible for CBD products to retail legally on the European market.
A Thriving Startup
Love Hemp was launched in 2015 and has more than 80 products retailing in several markets today, Love Hemp CBD products are certified THC free, and third party tested under strict laboratory conditions and have a guaranteed CBD concentration. These products, including the first CBD infused face mask and body salve, have all been followed with products such as jellies, beverages, edibles, sprays, vapes, and even cosmetics. Per the official Love Hemp website stating,
“The brand has secured a number of notable listings with leading retailers and was flagged as an on-trend wellbeing brand to watch by national media including The Times, Daily Telegraph, Sunday Times and The Independent.”
According to the CEO, most of Love Hemp customers are females aged between 25 and 30 years. Love Hemp recently launched the first functional CBD spring water beverage in Europe, which contains CBD.
Tony Calamita believes that CBD offers a ton of benefits to the user. Some of the benefits include better sleep, reduced inflammation, and mindfulness.