The global market for cannabidiol, better known as CBD, operates in a strange gray area between legal and illegal. In the US, it's completely legal. In Australia, it's legal, but with strict medical conditions. Yet in Russia, even using a hemp-based shampoo could see you in prison for up to 15 days.
In this episode, you'll learn about why most experts have been very wrong about what the future holds for CBD.
As regulations shift, new markets and attitudes change. The future, we found, belongs to two types of companies. Those with big presences and key markets, which are using the current downturn to grab market share like Alexa Knoll and those which are creating a moat between them and the mass market.
We also know one thing for sure about CBD. Isn't going back into the shed.
Join us for this third episode of the Trading Places podcast, as we dive deeper into the story behind CBD, the restrictions around the globe that hinder this industry's growth, and what the future for selling CBD oil holds.
Tune in, and you'll learn:
02:39 — How the CBD regulations are changing around the globe
"It's an nascent industry that was in a gray area. Only since a farm bill in 2018 in the US it has been legalized really. And so the regulatory framework around CBD is changing, but very slowly." (Oliver Horn)
06:16 — How the stigma around CBD industry is hindering its growth and adoption
"Now I'm not propagating the use of marijuana. It's just an example of how this industry has been stigmatized and criminalized disproportionately of other areas. I firmly believe that what we're seeing in front of us right now is a huge search in individuals and consumers, understanding that the medicinal use of marijuana, this is safe pathway to treat health conditions and a great preventative health."
11:28 — What kind of CBD products are sold globally and where consumers get them
"Consumers can access the product via their pharmacy without the need of a prescription so that the type of product is mandated under the TGA. They recently approved a low dose CBD to be brought to market under this schedule three regulation."
18:24 — Why the CBD oil market is hard to get into and what regulations are causing the biggest bottlenecks
"It's limiting both the UK market and the European market at the moment, simply because you can't bring new products to market right now until you have a novel food registration. They think it's going to make it not more competitive because a number of organizations can't afford to do an novel food registration."
21:28 — What the supply chain for CBD oil looks like from people working in the thick of this industry
"In Europe, all the CBD has to come from European genetics and European seeds. We have a local supply chain there as well. So it's very localized industry. We don't ship necessarily across continents."
Where to find this episode:
Host: Rachel Williamson
– Oliver Horn, the CEO of a global, a seven year old US-based hemp producer and wellness products seller.
– Jo Patterson, the CEO of an Australian-based CBD wellness company.
Producer/Director: Sonny Sanjay Vadgama
Showrunner: Sergey Faldin
Illustration: Irina Lisogor