The market has seen a rapid increase in interest and availability of CBD and hemp-derived products. In 2021, many states passed laws, implemented, or proposed new regulations regarding hemp cultivation, processing, and CBD products. Yet, a great deal of misunderstanding still exists regarding cannabis, hemp, CBD, and their psychoactive properties and uses, leading to regulatory approval delays.
Although slow-moving, the creation of a regulatory framework is inevitable as CBD finds its way into more and more FDA-regulated products. Since the passage of the 2018 Farm Bill, the FDA and Congress have grappled with the rulings on this product category and who should act to create a regulatory pathway. Earlier this year, the Senate introduced the Hemp Access and Consumer Safety Act, which would provide a clear path for CBD to be used in food, beverages, and supplements if passed. The regulatory delays have not stopped the wide distribution of CBD products, and the only enforcement so far has surrounded unsubstantiated claims from the FTC.
Focusing on the future will help companies say poised for success. Even with clear regulatory guidelines, CBD manufacturers and food, beverage, and supplement brands wishing to use CBD products will need a sophisticated approach to FDA communication and label claims management. Companies should brace for forthcoming regulation and begin production with current good manufacturing processes, established quality processes, and be vigilant of establishing a transparent supply chain.
Join our webinar with Maggie Cowee, economist, author, and cannabis consultant at Cowee Consulting, as we explore the evolving regulatory landscape for CBD. She’ll provide insight on potential regulatory timelines, development of GMP standards, navigating the hemp supply chain, and risk considerations for food, beverage, and supplements companies looking to capitalize on this growing trend.
Economist | Cowee Consulting
Maggie Cowee is an economist with nearly 20 years of experience in niche market analysis and business development. She started her career as a research economist at her alma mater, the University of Nevada, Reno, where she specialized in agricultural marketing, business risk management, and economic development. After a dozen years serving UNR, Maggie made the move to cannabis in 2016, managing a small medical grow in Central Oregon. In 2018, Maggie was recruited by MJBizDaily to join the company’s data journalism team where she tracked and analyzed data out of 47 U.S. legal cannabis markets, learning how the patchwork of state regulations impacts businesses, patients, and consumers.
Senior Account Executive | TraceGains
James Yarbrough is a Senior Account Executive for TraceGains. Starting at the company in 2013, James has guided many companies and their food safety, compliance, and quality software buying processes, working with notable companies such as Jiffy Mix, RX Bar, and Now Foods. James is PCQI certified and leads onboarding sessions to train new TraceGains employees on the food, beverage, supplements, and CPG's evolving regulations and trends.