Stay updated with breaking news from Brian sheng. Get real-time updates on events, politics, business, and more. Visit us for reliable news and exclusive interviews.
China CBD ban: Asia Horizon CEO suggests how China can better regulate CBD cosmetics market China-based CBD company Asia Horizon has suggested a few ‘straightforward’ ways China can go about regulating CBD cosmetics instead of implementing a blanket ban over the category. On March 26, the National Institutes for Food and Drug Control (NIFDC), announced a proposal to introduce legislation that would prohibit the use of cannabis and cannabis extracts in cosmetics. The ban would include raw materials such as cannabidiol (CBD), Cannabis sativa kernel fruit, cannabis sativa seed oil, as well as cannabis sativa leaf. Asia Horizon is Chinese hemp company that distributes Westerns CBD brands in Asia ranging from cosmetics to health supplements. Last year, the firm partnered with German CBD beauty brand Nordic Cosmetics to enter China via online flagship store on Chinese e-commerce platform Tmall – its first venture bringing in a Western CBD brand into APAC.
APAC’s cannabidiol (CBD) and hemp sector is expected to progress rapidly over the coming years, especially in India, China and Australia where they are approved for food use, although many other nations are still wary of granting the regulatory go-ahead. This is why in this edition of the FNA Deep Dive, we take a closer look at the CBD and hemp industry from a food and nutrition perspective, and how APAC firms are producing products such as beverages, edible oils, meat alternatives, spreads and more. The rapid growth of this industry is expected to be propelled by the growing number of vegans in the region and rising health consciousness due to hemp and CBD’s nutritional benefits, and the industry as a whole is expected to grow some 28.6% to hit US$22.9bn by 2027.
Share: MUNICH, Germany, Dec. 16, 2020 (GLOBE NEWSWIRE) -- Nordic Cosmetics GmbH (" Nordic Cosmetics," a subsidiary of Nordic Oil, the top-selling European CBD product manufacturer) and Asia Horizon Group Inc. ("Asia Horizon"), a trailblazer in China's emerging CBD industry, are pleased to announce that Nordic Cosmetics has achieved the distinction of being the #1 top-selling foreign CBD brand in China, and the #5 top-selling overall, including domestic brands. In September 2020, Nordic Cosmetics became the first foreign CBD brand invited to launch a flagship store on Tmall, Alibaba's business-to-consumer online retail platform, offering a portfolio of nine Nordic Cosmetics' premium CBD skincare products directly to Chinese consumers.