The UK’s Association for the Cannabinoid Industry (ACI) has introduced a new “2022 Accelerator Package” membership program to support raw material suppliers, manufacturers, brands and retailers in navigating food safety regulations in the UK’s burgeoning CBD market.
The new program comes as ACI said it expects CBD sales to hit £690 million (€800 million) this year, raising an earlier estimate which projected the market would reach just £314 million (€364 million) in 2021. That would make the UK CBD market the second biggest in the world behind the U.S., ACI said.
The latest market projection came in “Green Shoots,” a recently-released ACI report, and is based on a consumer survey by public policy and research specialist Public First, and population data from the Office of National Statistics.
While the UK has established a path for CBD products to qualify under food safety standards, daily intake levels and other issues are continuing to be worked out for the sector.
The new ACI membership program is designed to guide cannabinoid products through the UK’s novel foods regime intended to ensure that new consumer foods are safe. ACI said the enrollment program provides new members an end-to-end solution for full market authorization for their raw material and food products containing legal cannabinoids.
ACI provides technical and scientific advice, writes the application and offers follow-up consulting throughout the novel food approval process. The Association also provides B2B marketing and communication services.
Access to toxicological data
The new membership program saves participating companies money and time by offering cost-effective access to licensed toxicological data from ACI’s safety consortium. The data is a key part of dossiers required for novel foods applications to the UK’s Food Standards Agency (FSA) and the European Food Safety Authority (EFSA). ACI experts also offer bespoke consultancy services to its members, and the Association represents the industry in government on regulatory and other issues.
ACI’s 2022 Accelerator memberships start at £30,000 (~€35,000) but are based on the number of products a member wishes to submit as novel foods. All memberships include a £6,000 credit account that can be redeemed for consulting, sponsorships and services including legal, communications and trading standards. ACI said the accounts expedite the process of engagement by cutting administrative time.
The 2022 Accelerator Package succeeds the Association’s legacy membership program, which supported studies and general consciousness raising about cannabinoids and food safety in the UK.
ACI is a limited liability company affiliated with the UK’s Centre for Medicinal Cannabis.