UK CBD sector estimated value almost US$1B, exceeding 2021 sales predictions
May 10th, 2021
06 May 2021 — The Association for the Cannabinoid Industry (ACI) and Centre for Medicinal Cannabis (CMC) has estimated the cannabidiol (CBD) industry will generate £690 million (US$959 million) in annual sales for 2021.
This figure surpasses predictions made in the seminal market sizing study undertaken by the CMC in 2019, which estimated the market would be worth £526 million (US$731 million) in 2021.
According to the ACI, the UK has “improbably” become the world’s second-largest consumer cannabinoids market after the US, spending more on cannabis extracts domestically than vitamin B and C combined.