Since it was legalised back in 2018 across the UK, warrington has seen a major boom in CBD related products.
Huge growth in the sale of CBD Oil Tinctures, Vape liquids and capsules, as well as more novelty based products like creams and cosmetics, have seen the market swell to a value of around £3.5 million a year. CBD Vape Liquid is one of the fastest growing products within that market, selling around £1 million a year worth of products a year.
We asked the guys at Reactive Plus, one of the leading online Cannabidiol, (CBD), brands in the UK, how they see the market developing in Chesterfield.
It’s Only Going To Get Bigger!
One of the first things we found out from our Reactive Plus friends was that this is not a fad! The UK market on the whole is predicting to grow 5 fold over the next five years. If warrington follows this trend it will see it’s CBD marketplace rise to a value of around £10-15 million per year.
This means lots of jobs and supply chains arriving to the town and its surrounding areas. We can also expect to see tax intake going up for local authorities to reinvest back into communities too, as the market grows ever bigger.
One prediction that was of interest is that the large Vape demand Warrington is witnessing, will likely reach a plateau, as people move to better bio absorbed products like Tinctures and capsules. Vaping will likely become a secondary, top up method for taking CBD at that time.
At the moment the difference in product quality across Warrington is incredibly wide. As consumers become more aware about CBD quality, oil types and also methods of taking the products habits will shift.
As people ask more questions of those selling CBD, there will be less room for rogue traders to sell products that are of insufficient quality. Also as trade authorities, like Cannapro-UK, get better organised and wider recognition, consumers will look to buy their goods solely from companies who have earned their place as members.
What New CBD Products Are Likely To Take Off In & Around Warrington?
As CBD oil, especially tinctures, continues to grow in popularity people will look for more entertaining and adventurous ways to take their dosage. Here are some of the “CBD trends” we can expect to see take hold throughout 2020 and beyond based on imaginative ideas already happening .
- Adding CBD oil to teas, coffees, hot beverages
- Using the oil in cooking meals like pasta’s and curries
- Rubbing CBD oil into aches and pains as opposed to creams
- Desserts and ice creams being enriched with CBD.
The best oils, the Golden, filtered ones that are Full Spectrum and without impurities will be used more and more by consumers as well as those creating products and looking for high quality CBD ingredients with which to make them with.