The increasing popularity of CBD use in beauty treatments is associated with its perceived skin care and wellness benefits. It has anti-oxidant, anti-inflammatory,anti-microbial,anti-sebum over production and collagen-promoting properties, and it hits key trends in beauty, driving consumers to look for natural / organic / clean / sustainable ingredients.
However, as CBD is related to the cannabis culture, large and relatively conservative companies are still reluctant to step in. This sets a great opportunity for dynamic and more innovative beauty businesses, targeting luxury high-end crowds, to increase brand awareness and as well as their profit.
According to 'Prohibition Partners', global CBD skincare market cap was $710 M in 2018, estimated to increase to $959 M by 2024, reaching 10% of the global skincare sales.
'Prohibition Partners' quote founder and CEO of 'Standard Dose', Anthony Saniger, driving consumers to "gain clarity of an industry that, until now, has been confusing and unregulated... the recent legalization of CBD, increased the industry's interest... CBD products skyrocket as knowledge of natural health benefits of CBD products is spread".