10 Mar Beauty, Wellness, Cosmetics, Skincare, Market Growth Statistics, Trends 2019, 2020, 2021: Cannabinoid, Hemp Ingredient Product Forecast
We attended the CEW’s much anticipated event last week called: THE FUTURE OF CANNABIS IN BEAUTY.
infused beauty products have quickly made their mark on the industry. Both established, and indie, beauty brands are incorporating the ingredient in their skincare and color offerings, but what does the future hold?
During this exclusive event, we learned how is impacting beauty, what new innovations to expect, and how leading companies have adapted the trend.
The category is going to be HUGE! The Health and Wellness category is at about $1 billion now. It is expected to grow $20 billion next year! Women are the fastest growing demographic for use of .
This does not come without challenges. One issue is sourcing – where to get your supply from? Trusting the source is an issue. It is necessary to test each batch as quality control is key. It is equally as important to test for microbials and pesticides. It is important to find a provider that you can trust and make sure that all standards are followed.
One might ask, what’s driving this trend? Well, the legal change and innovative formats are a good starting point. There is a drive towards natural products as well as changes in our culture. Also, the expanded definition of well-being.
This slide shows the difference between hemp and marijuana.
What is ? This chart provides a definition for .
Who are the consumers? What are their demographics? This slide helps define this.
Is the consumer ready for products?
Do products really have any skincare or beauty benefit?
In conclusion, the normalization and elevation of has allowed it to be brought to new audiences and new applications. It is in total alignment with wellness and naturals.
-Ron Robinson, cosmetic chemist, founder of BeautyStat
Pingback:Opinion: 2020 Will Be The Largest Year For CBD Cosmetics So Far – The Market Wire
Posted at 15:52h, 23 December[…] in my excitement about this growth; earlier this year, founder of BeautyStat and cosmetic chemist Ron Robinson said, “The CBD category is going to be HUGE! The CBD Health and Wellness category is at about […]