CBD Sales Soar In The United Kingdom Over Previous Year
Sales of CBD products in the UK have increased by a whopping 99%, according to new data.
In an analysis of their online sales, Wowcher, an online discount platform, discovered that CBD products were flying off the virtual shelves at a much higher rate than previous years.
In fact, data from Wowcher reveals that purchases of CBD have almost doubled in the first three months of 2019 alone. According to the data from Wowcher, London accounts for the highest number of CBD product sales, followed by Cardiff and Edinburgh. Among CBD products for sale on Wowcher, CBD oil has been the most popular, with no signs of sales plateauing any time soon.
CBD Is Fast Becoming A Major Talking Point In The UK
In the last few years, high-profile cases have brought CBD to the forefront of the national conversation in the UK. Even in the midst of Brexit chaos, cases such as that of Billy Caldwell have managed to catapult CBD out of the back shelves of health food stores and have put CBD into the mainstream.
After a long fight by CBD and medical cannabis advocates, CBD was finally legalized. Since Britain’s Medicines & Healthcare products Regulatory Agency (MHRA) reclassified CBD as medicine back at the start of 2017, it allowed for products containing CBD to be legally distributed across shops and pharmacies in the UK.
This also lead to the development of two CBD based pharmaceutical drugs, Sativex and Epidiolex. While both are available on the NHS, Epidiolex, also became the first CBD-based drug to be approved for use by the Food and Drug Administration (FDA) in the United States.
CBD Reclassified In The UK
Since CBD was reclassified in the UK, Wowcher is not the only company that has seen huge gains in revenue from the popular compound. Health food store Holland and Barrett saw their revenue soar when they became the first high street store to stock CBD products, with overall sales up 37%.
Thanks to the overwhelming popularity of CBD oil, Holland & Barrett expanded their CBD range to include oral sprays and gel capsules as well as oil tinctures. According to numbers from the Cannabis Trades Association UK, the number of CBD users in the UK doubled between 2017 and 2018 from 125,000 to 250,000.