Cannabis-infused beauty products are going to flood the skincare market, one Wall Street bank says.
“Consumers’ interest in wellness, natural ingredients, medicinal benefits and the legalization of marijuana in several states/countries have catalyzed interest in CBD beauty,” Stephanie Wissink, an analyst at Jefferies said in a note out Tuesday.
She added that beauty products infused with cannabidiol, or CBD, one of the most well-known of more than a hundred different phytochemicals found in cannabis — will generate $25 billion in revenue globally in a decade, representing 15% of the $167 billion skincare market.
Beauty products are a natural extension of CBD in other wellness categories, according to Wissink.
While many natural compounds found in plants of the Cannabis genus, such as tetrahydrocannabinol (THC), have proven to have therapeutic properties, CBD has another huge advantage — It’s non-psychoactive, and based on current regulations, the trace amounts of CBD infused into beauty products cannot “get you high.”
Published: March 12, 2019
Founder & Interim Editor of L.A. Cannabis News