Amazon enters the UK CBD retail market, driving CBD sales growth

On October 12, business cann reported that Amazon, the global online retail giant, launched a “pilot” program in the UK, allowing businesses to sell CBD products on its platform, but only to British consumers.

The global CBD market is booming and is expected to reach the scale of billions of dollars. CBD is the extract of hemp leaves. Although who declared CBD safe and reliable, Amazon still banned the platform from selling CBD products, considering that CBD is still in the legal gray zone in the United States.

This pilot program marks a major transformation of Amazon, the global online retail giant. “We’ve been looking to increase the range of product choices available to users and help them find and buy anything online,” Amazon said. It is prohibited to list and sell edible industrial hemp products, including preparations containing CBD or other cannabinoids, electronic cigarettes, aerosols and oils, except those participating in the pilot scheme. “

But Amazon has made it clear that only the UK version of Amazon can sell CBD products, and those in other countries are still not. “This trial version only applies to The products listed above are not available on other Amazon websites. “

In addition, only businesses approved by Amazon can supply CBD products. At present, about 10 companies can supply CBD products. They include: Naturopathica, four five CBD, nature aid, vitality CBD, Weider, green stem, skin Republic, tower health, of Nottingham, and healthspan in the UK.

Marketable CBD products include CBD oil, capsules, balsam, cream and lubricants. Amazon has strict restrictions on product categories.

stay The only edible industrial hemp products allowed for sale on the website are those containing cold pressed hemp seed oil from industrial hemp plants and not containing CBD, THC or other cannabinoids.

Amazon’s pilot program has been welcomed by the industry. “From CTA’s point of view, it opens up the UK market for sellers of industrial hemp and CBD oil and provides another sales platform for legitimate and compliant companies,” said Si â nphillips, general manager of the cannabis Trade Association (CTA)

Why was Amazon the first to launch a pilot program in the UK? In July of this year, the EU Commission’s attitude towards CBD changed dramatically. Previously, the EU classified CBD as “new food” and could be sold through authorization. However, in July this year, the EU suddenly announced that it would reclassify CBD as narcotics, which immediately cast a cloud over the CBD market in Europe.

In the United States and the European Union, the legal uncertainty of CBD makes Amazon dare not enter the CBD retail field. The reason why Amazon dare to launch this pilot program in the UK this time is that the attitude of the UK regulators towards CBD is basically clear.

On February 13, the British Food Standards Agency (FSA) said that CBD oil, food and beverage currently sold in the UK must be submitted for approval before March 2021 and be authorized by the regulatory authorities to continue to sell. This is the first time that the FSA has shown its attitude towards CBD.

Even if the EU announced in July this year that CBD would be included in narcotic drugs, the attitude of the FSA has not changed. In addition, the UK has left the EU and does not need to be bound by the EU, so the British CBD market has been officially recognized.

On October 22nd, business cann reported that the British company fourfivecbd’s CBD balm sales increased by 150% after it participated in Amazon’s pilot program.

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