“Mental health is intrinsic to good health,” highlights Trip co-founder as CBD start-up nets US$5M
11 Jun 2021 --- Attitudes to CBD are opening up as COVID-19 has brought mental health into greater focus. This is according to Trip’s co-founder Olivia Ferdi, who speaks to NutritionInsight following the UK-based start-up raising £3.5 million (US$5 million) in partnership with investors including Maria Raga, Depop CEO, and serial entrepreneur and investor Christian Angermayer.
The company is positioned as a cross-section of lifestyle, beauty and wellness that focuses on mental well-being.
“While this has been a tough year for everyone, the world is recognizing that mental health is intrinsic to good health. We see that the lines between health, nutrition and mental health are now blurred,” she says.
People will change the way they think of health and well-being to a holistic view, where mental health is a crucial part, she predicts.
The shift of focus to mental well-being is echoed by Innova Market Insights’ trend, “Mood: The Next Occasion,” which reveals that 44 percent of global consumers are focusing on their mental and emotional well-being.
Finding calm in uncertainty
Ferdi says that many consumers are experiencing CBD for the first time by using Trip products during this period of heightened uncertainty and anxiety.
“The main factor that seems to motivate our consumers is personal recommendations, whether online or in-real-life, where sharing experiences encourages others to also find their calm,” she notes.
“It’s really rewarding to help so many people find their calm in such a chaotic time,” Ferdi adds.
Shift to mood
As Ferdi points out, the COVID-19 pandemic has taken a toll on consumers’ mental health worldwide.
“Attitudes to CBD in the UK and Europe have opened up so quickly, definitely accelerated during the pandemic and its impact on stress and anxiety,” she notes.
CBD is utilized for a variety of purposes, including stress relief, anxiety alleviation and improved sleep.
“The pandemic has also reshaped shopping online for beverages and CBD. For example, Trip’s CBD store with Deliveroo has catered to the on-demand needs of new working lifestyles, with the partnership expanding to 15 sites in the UK.”
Trip’s online business, in particular, grew significantly through the lockdowns in Europe.
While COVID-19 may have contributed to heightened stress levels, the end of the viral pandemic is far from the end of mental health difficulties.
“Now more than ever, the world is recognizing that mental health is intrinsic to good health. Our mission has always been to share calm in the everyday chaos,” adds Ferdi.
An increasing shift to the consumption of natural ingredients that can alleviate stress during the pandemic has been noted by industry.
To further illustrate this, industry finds that consumer’s health concerns have evolved to a holistic approach, and as a result, they are now seeking products that provide emotional well-being.
CBD expansion
The use of CBD in food and beverage products is becoming increasingly popular. The Center for Medicinal Cannabis 2020 study illustrates that the CBD industry is now worth £690 million (US$971 million) per year, more than doubling in size in the last year.
According to Innova Market Insights, there has been a 93 percent average annual growth of F&B launches tracked with CBD (2015 to 2019).
CBD consumer behavior is further illustrated by Innova Market Insights’ data which highlights that 59 percent of consumers are open to accepting CBD as an ingredient. India and the USA have the highest number of people willing to have CBD in their products, with 85 percent of consumers in India and 71 percent of consumers in the USA sharing this opinion.
Additionally, US-based cannabinoid health and wellness company Open Book Extracts (OBX) investigated the efficiency of using CBD for pain relief in a cannabinoid study.
By Nicole Kerr
