CBD Products in 2020
Interest in Cannabidiol (CBD) products continues to grow in all corners of the world and from all sectors of society, from athletes to senior citizens. For those who are still curious about this compound, it is one of over 100 cannabinoids found in the cannabis plant and is known as the non-psychoactive alternative to Tetrahydrocannabinol (THC). Keep reading to learn about the current status of CBD in Canada, some industry stats and about what to expect in 2020 from the legal market.
Currently, CBD is considered a controlled substance internationally as well as within Canada. Meaning, the production of CBD and products containing CBD remains illegal unless authorized by the Cannabis Act. To produce CBD for sale in Canada, growers are required to become a licensed producer (LP) and are subject to product testing with the intent to provide consumers with regulated products. To access legal product, it is recommended you order online or visit a licensed retailer.
A Statistics Canada report estimates Canadian adults spent $5.7 billion on Cannabis products back in 2017 before recreational Cannabis was legalized. By 2025, Ernst & Young LLP estimates 20% of Canadian adults are projected to be Cannabis consumers. It is difficult to estimate the percentage of CBD consumption in Canada, as the data isn’t readily available yet. However, in the US, sales for CBD products could reach 1.8 billion U.S. dollars by 2022.
Current CBD products already available in the Canadian market include numerous varieties of dried herb or flower, ingestible oils, capsules and sprays. The second phase of products to be regulated brings a multitude of other options for consumers, rolling out in the new year.
Some examples of these new formats include all kinds of CBD infused beverages. Such as the naturally flavoured, refreshing seltzer-like sparkling water beverages by Tweed containing 20 mg of CBD which comes in two flavours. Many producers are also making infused teas in several flavours, such as Haven St. Premium Cannabis, these teas contain 10 mg of CBD each.
There are many different types of CBD infused edibles to try, in addition to the typical chocolate varieties. Some producers have created infused mints, like from High Park which contains 2.5 mg of CBD in each piece. This producer has also release cherry flavoured soft chews, with 2.5 mg of CBD each. Aurora Cannabis has released five flavours of soft chews in blue raspberry, red raspberry, grape, pineapple, and peach with 10 mg of CBD each.
The availability of regulated concentrates is more complicated, as these products are not expected in stores until later in the new year. The formats should include live resin, wax, hash and rosin in both THC and CBD varieties. Similarly, the availability of regulated topicals is limited with only a few producers releasing this type of product soon. These include body creams, a skincare line, and even sex oils which will also come in THC and CBD formats. Read a past article on The LEAF about this type of consumption method.
Most producers plan to release vape pens and vape cartridge products, in all sizes and formats, including CBD options. Offering units with either rechargeable batteries or some which are recyclable, single-use options. These devices meet hardware safety regulations and undergo vigorous safety testing.
CBD dominant products remain a popular choice for those who prefer to not get high and there are many products to choose from. It is important to know that it is scientifically impossible to eliminate all traces of THC from a CBD dominant product. If you are being tested for Cannabis for employment reasons understand that there will still be trace amounts of THC present in your blood. Utilizing the full spectrum of compounds is the best way to get the most benefit from Cannabis. THC and CBD, along with all the other 100 cannabinoids found in Cannabis work better together- it is also known as the “entourage effect”.
To get more information on this topic or for product information please visit a Spiritleaf nearest you, follow this link to our locations page for store details.
References: Government of Canada, Bloomberg, CBC News, 150.statcan.gc.ca, Ernst & Young LLP, Gallup, statista.com, loudcloudhealth.com, prnewswire.com, newswire.ca, VICE, newswire.ca, Leafly, Forbes, Postmedia Network Inc, Financial Post, Lift&Co.