How Significant Is the Potential for CBD in the Beauty Market?

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Once the Farm bill of 2018 was passed, many companies became free to produce products with CBD as their key ingredient. CBD is a non-psychoactive compound that is found in the cannabis plant, and it’s more abundant in the industrial hemp plant. It provides the same benefits as THC without getting you ‘high.’ So, when you buy CBD oil, or CBD tinctures and sprays, you’re investing in an organic supplement that is known to provide relief from chronic pain, swelling, sleep disorders, and so on.

However, CBD is entirely different from medical or recreational marijuana because marijuana needs to be purchased with a valid doctor’s prescription. However, aside from CBD’s general medical benefits, a new branch of CBD has been rapidly growing, and that is CBD beauty. This category includes makeup and skin care products, which have CBD in its ingredients. Many investors are now lining up and keeping a close watch on this category because it aims at two gigantic industries, that is, the beauty industry and the ever growing CBD industry. Now, that you know how large these two sectors are, let’s have a look at why you should buy CBD oil in skincare and beauty products.

Big brands are getting on board with CBD; CBD is beginning to show huge potential, and since the beauty industry is worth a billion dollars, it gives rise to many possibilities and diverse ranges of products that can be sold over the counter and don’t require a doctor’s prescription; this means they are easy to buy and consumers will have easy access to them.

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Since 2018, big beauty brands have witnessed the rapid growth in demand for CBD and CBD oils; they wasted no time and began to tap into the CBD market, thereby venturing into new territory. Top beauty companies like Sephora created a new beauty line that is entirely made of CBD products. Ulta Beauty, which is another major beauty company, also decided to follow the CBD path shortly after Sephora.

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Luxury retailers are familiar with this route; they followed the CBD path and created customized CBD oil products that range from face masks to Hemp serums. Luxury veteran, Barney’s, announced in February 2018 that they would develop a range of CBD products that will be available in their stores in Beverly Hills. The luxury chain of stores is also thinking about designing bongs and vaporizers that will be worth $950.

Neiman Marcus revealed that they would be selling CBD based skincare and beauty products in their retail and online stores. Wall Street reports have also predicted that in the next few years, CBD has the potential to create its own beauty market, and work as a standalone market.
CBD beauty is quickly gaining recognition, and reputed brands have now begun to invest in CBD related stocks. This is because they have identified how customers and businesses are pulled towards the many natural benefits of CBD and its goal towards promoting natural beauty.

Investors are keen to buy CBD oil stocks because they have seen the increase in online searches for “CBD beauty,” in the first two months of 2019. It’s estimated that the CBD beauty market will reach a net worth of $25 million within the next ten months. A study that was conducted by the Brightfield Group has shown that by 2022, the entire CBD business, including recreational, beauty and medical, will be valued at 22 billion dollars together.

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CBD and mainstream beauty:

CBD & mainstream beauty

In the past, a few states allowed the recreational use of cannabis (marijuana and hemp). All the varieties of cannabis were clubbed together regardless of their intoxication abilities, and they were all seen as psychoactive elements. Now, after much study on the various types of cannabis and its multiple effects, CBD and hemp are entirely legalized in most states in the US.

Due to the restriction of CBD a few years ago, only the rich and famous had access to CBD beauty products. Studies show that with the attention drawn to CBD products by celebrities, the revenue jumped to 340%, going from 4 million dollars to 17 million dollars within a year.

Conclusion:

It’s safe to say that the beauty industry is still evolving for the better, and with the direction CBD beauty is taking, it’s essential to take note that natural beauty products and the demand for them will only go up from here. Natural beauty products are growing in demand because of the use of organic ingredients instead of harmful chemicals.

How Significant Is the Potential for CBD in the Beauty Market? was last modified: by