Standardisation, GMP / GAP & Hemp Market Projections

0
495

The repetitive theme of this year’s event, echoed by concerns from participants and contributors alike, was that of Standardisation of practices particularly GMPs & GAPs. This marks an evolution from earlier market concerns centred primarily on agricultural legislation, financial viability and agricultural techniques & equipment. It is testimony to the maturing process the industry is undergoing, with an ever growing list of products and hemp applications. The next step of this process is producing ‘mainstream’ products – particularly in the food & pharmaceutical markets – which invariably implies highest consumer standards, validation and analytical precision.

nother marker of maturity evident during this year’s event was the presentation and discussion of much more comprehensive and authoritative market data and projections of the industry – with aptly demarcated analyses of particular sub-categories of products such as ‘self-care CBD’ products or food supplements. Key market risks relate to the lack of uniform legislation (on a European level) – a concern which was identified by our 2015 report.

Hemp: A market for Analytical Laboratories

With the concept of ‘Standardisation’ on everyone’s mind, the discussion naturally progressed towards the existence of institutions and companies capable of carrying out such programmes and their analytical methodologies. Analytical equipment manufacturer Waters was present with a dedicated stand and the presence of North American laboratories (e.g. ProVerde) to share technical know-how, with which we had the chance to discuss in depth our mutual experiences. With analytical standards and methodologies still absent for cannabinoids across the world, it provides a major opportunity on commercial grounds, as well as scientific and policy requirements.