Jan 10, 2020

Food industry backs away from CBD

Hemp-derived cannabidiol, or CBD. Photo: Jessica Rinaldi/The Boston Globe via Getty Images

Big companies are taking a step back from developing food and drink products made with CBD, after the Food and Drug Administration raised safety concerns, the Wall Street Journal reports.

By the numbers: CBD-infused foods and beverages surpassed $1 billion in revenue in 2019 even without FDA approval, according to the Journal, and revenue is projected to reach $10 billion by 2024.

But smaller players will get a leg up in that market, at least for a while.

  • Companies like Pepsi, Starbucks and Kellogg had been considering hemp-derived products, but are now at a standstill until the FDA signs off, the WSJ writes, citing food scientists and consultants familiar with the matter.

Flashback: In November, the Food and Drug Administration warned consumers against CBD-infused foods and beverages, saying research isn't quite there yet to conclude it's safe to ingest or that it's a good anxiety or sleep aid.

  • CBD does not get you high, unlike marijuana's psychoactive component THC. FDA cites potential risks associated with its consumption, though, like liver damage.

Go deeper: Mainstream retail's move into CBD could create $24 billion industry

Go deeper

FDA approves first treatment for peanut allergy

The Food and Drug Administration approved a treatment called Palforzia from Aimmune Therapeutics on Friday that would help treat those with peanut allergies.

Why it matters: Food allergies have been on the rise among children and adults, some with life-threatening conditions that cause an anaphylactic reaction from exposure. 

Go deeperArrowJan 31, 2020 - Health

Kitchen matches: Plant-based meats fire up fast-food traffic and sales

Illustration: Sarah Grillo/Axios

The fast-food industry has fallen in love with plant-based "meats" and the boost in foot traffic and sales they provide from more health- and climate-conscious consumers.

Why it matters: The public’s growing interest in plant-based "meat" has start-ups trying to scale up and expand their market share, and food giants, such as Tyson Foods, are trying to muscle—and cash—in. The plant-based meat industry has seen $12.6 billion in sales and $4.5 billion in revenue as of July 2019, according to the Plant Based Food Association, and such non-meat burgers were estimated to be in 7,200 Burger Kings, 1,000 Carl's Jrs., and hundreds of other fast-food joints at the close of 2019.

Go deeperArrowJan 25, 2020

Congress wants vaping industry to pay for FDA oversight

A bipartisan group of senators wants the vaping industry to pay for more of the Food and Drug Administration's oversight of vaping products.

Driving the news: Six senators, led by Democrat Jeanne Shaheen, will introduce a bill today to charge e-cigarette manufacturers higher user fees, which fund many of the FDA's regulatory activities. A corresponding bill led by Rep. Cheri Bustos will be introduced in the House soon.

Go deeperArrowJan 22, 2020