Cannabis analytics company Prohibition Partners are ahead of the curve as always on research related to CBD and cannabis during the current COVID-19 pandemic. Their research shows that we are already seeing legal marijuana sales soar internationally as some consumers have been bulk-buying their usual products in the US, Spain and what is legal in the UK.
At a time like this it is worth remembering that luxury consumption isn’t high on everyone’s list of priorities and legal and recreational cannabis can be de-prioritised as such during an economic and overall societal crisis.
With the general populous on high alert for their lung capacity and with current social distancing measures – cannabis may well see a downturn.
CBD on the other hand, consumed as oil and treated ayurvedically as an immunity booster may have a different role in this era. CBD now has a solid reputation as a panacea within the health and wellness community, and fully backed up by the WHO. Extensive research has already been done investigating the compound for its countless properties, although it hasn’t been tested to help COVID-19, yet!
Those familiar with the plant are definitely getting their dose in during this time and it is also a chance for the industry to grow, not in a dissimilar way to how we will see other ayurvedic foods grow in this market, and future for humanity.
Of course there is already misinformation out there with one unlicensed CBD brand in Canada officially claiming it can help defend against coronavirus, while another CBD retailer in Idaho took down a message on its e-commerce website which mentioned coronavirus, following a caution from US federal regulators. Likewise claiming that CBD cannot treat or heal coronavirus is false as there is still a tonne of research to be done.
Based on the data gathered by Prohibition Partners (19 March 2020) in a survey of over 2,500 people in the United States, United Kingdom, and Canada, they anticipate that COVID-19 is unlikely to have a dramatic impact on personal cannabis or CBD consumption, though we would expect consumption to increase slightly.
When asked, “In the coming three months, what impact do you think the Coronavirus (COVID-19) will have on your use of cannabis, CBD, or products infused with CBD or hemp?”, most respondents reported that the virus would have no significant effect on their consumption habits.
However, respondents were three times more likely to report an intention to increase their usage of cannabis products than decrease usage in these times. For medical cannabis users, this likelihood rises to four-times as many.