Is 2020 the year of CBD in Britain?
Jun 19 2020
In recent months, we have seen Britain, and the world, come to a halt. With retail stores shutting up shop, most of the country staying behind locked doors and life as we know it changing almost overnight, it’s hard to imagine any industries are really thriving in the current market.
However, besides the industries that we’ve been relying on now more than ever (key workers, online shopping and food deliveries) there are other products that have soared in popularity this year, one being CBD.
Alphagreen, the UK’s largest online CBD marketplace, recently conducted a survey of 5,000 UK citizens to learn more about current CBD views and habits. They found that “since the start of the year, nearly eight million adults in the UK, or 15% of the population, have purchased CBD products, exceeding £150 million. This expedites previous growth trajectories, with the market set to be valued at £450 million — that’s 50% growth compared to £300 million in 2019.”
Although everyone certainly anticipated the CBD market to continue to grow in 2020, I think it’s fair to say this jump is coming a lot sooner and is a lot bigger than many expected, no doubt because of the challenges people are facing in lockdown.
How has coronavirus affected the UK’s interest in CBD products?
Not only did Alphagreen’s survey confirm that the CBD market is booming right now in the UK, but it also uncovered just how large the effects of coronavirus have been. They revealed that “interest in CBD products has doubled since March 2020 after the onset of COVID-19.”
They credit this to the higher levels of stress and anxiety being caused by coronavirus and the implications of it. As many people find themselves out of work, or with little job security and unable to see their loved ones, it’s a tricky time for our mental health and people are looking for something to help them cope. As we all know, CBD can offer relief from anxiety and stress, and can help people unwind and get some much-needed rest. As people deal with a global pandemic, it’s no surprise that they may be looking for something to help them keep a clear and calm head, and CBD is a wonderful way to do so.
As well as that, many people are spending more time than ever inside their homes, and with one in four people in the UK furloughed, people have more time than before. This means that alongside having raised stress levels, people also have more time to research potential aids and solutions that might help them.
Whereas before people were occupied with a busy working lifestyle and social events, individuals are now living out of their homes and feel as though they have many more hours in the day to fill. Many people who may not have previously considered CBD as an option for them because of stigma or lack of knowledge, now have had an opportunity to do some research and make a more informed decision.
What might happen to the CBD market after lockdown?
When lockdown ends, does that mean this CBD explosion might calm down? Honestly, I don’t think so. I think this is just the beginning of CBDs best year in Britain yet, and its popularity during lockdown is the reason for that.
For many people, the best CBD recommendation is one from a friend or loved one, and with more people trying CBD in the UK than ever before, there is sure to be more recommendations than before. This word-of-mouth promotion is wonderful and shows real people sharing their experiences with their friends and loved ones.
Already this year I’ve spoken to bloggers about their CBD experiences and all of their individual stories were truly compelling. From those who were trying CBD for sleep problems to those who are using it for serious medical issues, every story was relatable and made me happy to be a part of the CBD market with my CBD alcohol-free drinks range.
When reflecting on 2020, it’s sure to be have been quite a year, and one that’ll certainly go down in history. It’s disheartening to see so many sectors that are close to my heart struggle, but I am glad that CBD is managing to not only prevail but offer some solace to those that may need it in their time of need. I hope it can continue to do so after as well.
About the author:
Kamila is a bestselling author of “Bespoke. How to radically grow your bar and restaurant business through personalisation”, and passionate trend-spotter for the UK Eating Out market with thousands of followers on her widely popular blog kamilasitwell.co.uk.
With a decade of hands-on experience collaborating with hospitality influencers and insight experts and a background in setting strategies for leading brands, Kamila has become the industry champion for truly bespoke and guest-centric experiences.
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