Beauty Store Business

AUG 2019

Beauty Store Business provides solutions for better retailing! New products, industry news, savvy business moves and important trends affecting both brick-and-mortar and online retailers are included in each issue.

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Page 35 of 75

wabeno/ 34 August 2019 | TO CBD OR NOT TO CBD? CBD-inused products are taking beauty markets by storm, but questions remain regarding the beneits–and legality–o this complicated wellness ingredient. By Francesca Moisin S ince cannabidiol (CBD), an extract derived rom hemp, ully arrived on the beauty scene last year, there have been legal developments that have reduced the limits surrounding its use and opened up new oppor- tunities. On December 11, 2018, Congress passed its latest version o the Farm Bill, which included a speciic section about hemp, eectively releasing restrictions on CBD (more details on this later). It set beauty markets buzzing. Suddenly, it seems every brand is scrambling to inuse CBD into its oerings. From lotions to bath salts to mascara, the cannabidiol craze is at an all-time high–no pun intended. While considerable research is still needed to validate its eects, beauty manuacturers are not waiting. CBD's believed antioxidant power and pain-relieving, anti-inlammatory and antimicrobial properties are making it a beauty ingredient sensation. Cowen & Co. inancial services predicts the American CBD market may reach $16 billion in sales by 2025. And market research irm Kline & Co projects CBD to have a staggering compound annual growth rate (CAGR) o 75 percent through 2023! Here's our updated primer to help you evaulate i this remarkable, yet still stigmatized, beauty ingredient should be part o your oerings. wabeno, Continued on p. 38

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