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Will Corona Virus increase sales of CBD Oil?

 

COVID-19 could usher in high times for CBD Oil

corona virus cbd

Amongst panic buying toilet roll, canned food and other essentials, stock piling of CBD products has seen a sudden rise too during the Coronavirus pandemic. As the general public are aware that sedentary unhealthy lifestyles won't do anything for our immune system- greater appreciation for healthy food supplements has been reignited.

For instance as a push for alternative food ingredients and products celebrity chef Raymond Blanc shared a tweet urging people to "reinvent" our food choices. This encompasses CBD products as well and we have seen a jump in our sales of CBD Oral Spray which can easily be used out and about where Covid-19 is feared to be present. 

However parts of the CBD Oil UK market have been negatively affected

Sources of CBD Oil from China feel the immediate hit from Corona Virus. Companies that cultivate Hemp from this area have seen their supplies decrease massively. Chinese Hemp Oil companies are exporting much less to the UK plus the downturn in stock markets means that investors are loosing interest in the world Hemp Oil industry.

Therefore China as a source of cheap Hemp supplies is no longer a go to option and companies have been forced to reevaluate where their CBD products come from. Perhaps galvanising traders to choose higher quality pricier vendors instead. But this brings about an opportunity for CBD Oil UK companies to become the new supplier of Hemp Oil for the world. 

coronavirus and hemp oil

Possible "silver lining" for CBD Oil in the UK

hemp plant corona virus

While many companies are yet to feel the effects some might not at all. It depends on the interconnectedness of the supply chain. If Chinese manufacturers are shut down a gap will be needed to be filled in the demand for Hemp Oil. Due to this CBD Oil UK companies could become the new higher quality suppliers for Hemp Oil both for retailers and wholesalers. 

Furthermore shortages or restrictions in Hemp plant paraphernalia from abroad may mean competition from imports will diminish allowing growing space for domestic Hemp Oil companies. They could step up and offer the most competitive prices possible. As a result CBD Oil UK companies could be the new go to for suppliers, customers and manufacturers.

Regulatory arguments will remain though

The CBD Oil UK market has been within some limbo regarding the status of Hemp in the UK. The current case for it to be changed to novel food status by 2021 has remained. This shows that its business as usual for other aspects of the CBD Oil market and COVID-19 has not changed much for the industry. A quick read of our article CBD Oil and Law, will give you a summary off this pending argument. 

However other parts of the industry not directly related to sales have seem some issues. For example Spannabis Barcelona an expo celebrating the beauty of Hemp Oil and CBD products has been postponed for several months. CannaTech in Israel has also been postponed due to the lockdown of mass gatherings. 

Apart from that its business as usual for CBD products in the UK

As CBD products in the UK are usually sold online the human to human interaction is limited. Thereby decreasing risks of spreading Coronavirus, as a result most online businesses selling CBD Oil haven't been portrayed as high risk businesses for Coronavirus. 

Although traditional retail businesses have taken a hit the CBD Oil UK market has been stable due to increased appreciation for natural food supplements and the new opportunity to fill the gap left by foreign Hemp Oil businesses exiting the scene. 

 

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