The global cannabis industry is frequently characterized as a “booming market,” much to the frustration of many British businesses, which feel a lack of clear domestic regulation puts them at a disadvantage when it comes to harnessing burgeoning interest in the plant’s potential applications.
While recreational cannabis remains illegal in the UK, cannabis and cannabis-derived products are authorized to varying degrees for use as medicines, pharmaceuticals, and consumer products.
Critics say the lack of firm rules about how cannabis-based products are made and marketed is deterring investment in the sector. This, they say, is evidenced by the fact that most British businesses innovating in the cannabis industry are small-to-medium sized companies, while big global brands wait on the side-lines.
While this creates opportunities for smaller companies to seize market share and make themselves attractive acquisition targets further down the line, many fear the UK will miss its chance to become a meaningful player in what is already a lucrative international market.
Read more at analyticalcannabis.com