Hemp & CBD: Expo West 2018 Highlights!
By Yona Torres, New Frontier Data Contributing Editor
“This is the year that CBD arrived,” proclaimed Sean Murphy, Director of Hemp Analytics for New Frontier Data.
It was Standing Room Only at the Natural Products Expo West 2018,where CBD took center stage stemming from new products-excitement. Much of the action in CBD has been from small independent product retailers and less from the larger grocers, such as natural grocers and vitamin shops. To compete, large hemp companies are developing their own CBD products to supplement their current offerings, while others are instead succumbing to industry consolidation trending forces.
Cannabidiol (CBD) is one of at least 100 active cannabinoids identified in cannabis, which includes hemp and marijuana. It is a major phytocannabinoid and next to THC, it is the most commercialized cannabinoid across all markets.
This year a USDA certified organic CBD hemp oil by Barlean’s featured an extra strength version containing 25mg of CBD. Also exhibited were lots of “synergistic blendings” of CBD infused into common food ingredients such as turmeric and matcha green tea. There was even a CBD sparkling water. Think Lacroix, except with 5ml of CBD. Increased organic animal and pet care products were displayed demonstrating an interest in family friendly products.
These new products will fuel the growing hemp derived CBD market expected to reach $646 million by 2022.
Also unveiled at ExpoWest, The CBD Report, published by New Frontier Data, as part of its acquisition of the Hemp Business Journal earlier this year, reports on market sizes and high-level analysis of business trends in the CBD (cannabidiol) market. The report reveals market outlook, investment analysis, point of sale data, survey results, charts and insights from more than 200 interviews from business leaders and experts.
Expo West 2018 celebrated another milestone in the larger hemp market. A 20-year leader in hemp, Manitoba Harvest, announced the company received self-affirmed Generally Recognized as Safe (GRAS) status for their line of hemp seeds, oil and protein powder and submitted to the FDA for GRAS Notification. This is big not only for the CBD market, but also for the entire hemp food industry. As this would put Manitoba’s approved products on par, safety-wise, with other common, approved food additives like Vitamin C Ascorbic acid, and Xanthan Gum and added vitamins and minerals. Expo West 2018 hosted more than 85,000 attendees in its 38th year, setting another record for participation in the largest natural, organic and healthy products event in the world. The event was held March 7th‐11th at the Anaheim Convention Center.