Ask Our Experts: The Market for Minor Cannabinoids
Q: How is the market outlook for minor cannabinoids?
By William Sumner, Hemp Content Manager, New Frontier Data
A: Operators and investors perpetually seek the elusive Next Big Thing: Two years ago, CBD hatched as the nascent industry’s golden goose, but with CBD prices on the decline, entrepreneurs are now on the search for the next cannabinoid primed to reshape the market. THC and CBD shall not disappear any time soon, but they are only two among over 100 cannabinoids identified so far.
With a small but increasing number of consumers looking for hemp and cannabis products featuring higher levels of minor cannabinoids, companies are reacting to try and respond. As discussed during New Frontier Data’s webinar, Risks and Opportunities in the Hemp Cannabinoid Market, branching out into minor cannabinoids is of significant interest for hemp companies.
According to Groff North American founder and CEO Steve Groff, though it remains too early to confirm whether minor cannabinoids provide therapeutic benefits, his company remains bullish.
“Penn State-Hershey submitted some work showing minor cannabinoids suppressing colon cancer growth in the lab; THC and CBD molecules had no effect,” said Groff. “In our mind, that was huge.”
As R&D remains in early stages, drawing a bead on the market’s potential for minor cannabinoids remains speculative, but the search is on in earnest.