Hemp Today
UK CBD maker B3 Labs, which had more than 500 products awaiting safety approval by the Food Standards Agency (FSA), has succumbed to overall struggles in the sector, the company announced this week.
While many stakeholders have blamed regulations for the industry’s challenges, B3’s closure is the result of several factors – across-the-board price increases, supply chain risks and challenges at retail, CEO Mark Burbidge told NutraIngredients Europe.
Also contributing to the company’s failure were restrictions that inhibit innovation, according to Burbidge.
“People are only able to sell one isolate of a plant which has around 300 cannabinoids that all work in synergy, and any benefit the customer might have felt initially from that isolate they no longer get as they are building up a tolerance,” he said. “So now they’re looking into other ingredients to give them that same benefit.”
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