Hemp-derived cannabidiol (CBD) is a hot market item right now. In 2016, hemp products grossed $688 million according to the Hemp Business Journal. The Journal also predicts a more than double increase in hemp sales within the next two years. Forbes Business Report also predicts heavy growth in this sector, to the tune of $3 billion by 2021.
Hemp products are popular in a variety of industries these days, but currently, the boom is in food and body care. As a business owner in the skincare industry, you will want to profit from this growth. With CBD continuing to grow, the only question is how to position your CBD line.
The Benefits of CBD
For skin care, CBD is able to provide moisture, healing, and reduce the discomfort of irritated skin. Dermatological studies have shown CBD reduces irritation. Any dermatologist will tell you that inflammation causes a variety of skin issues.
Besides the potent irritation reduction capabilities, CBD also is a superior antioxidant. Using a CBD skin care product helps fight against harmful free radicals. Reducing free radicals can help reduce fine lines, wrinkles, and visible signs of aging. CBD is also brimming with essential fatty acids (EFAs), such as omega-3 and omega-6, which studies show may protect from sun damage.
Who is buying CBD skin care products?
The public perception of CBD has changed as the market has matured. People now know that full spectrum hemp-based CBD contains virtually 0 THC, the compound in cannabis that gets you “high.” The absence of THC makes any potential legal concern a non-issue and at the same time bolsters consumer confidence. Erase the image you may have in your head of the CBD customer as a stoner. Many of the users today who are using or interested in using a CBD-based skincare product are aware of its potential benefits.
Because of this shift, urgent consumer demand drives the current popularity of CBD. With the rising popularity and buzz around CBD, everyone is clamoring to try products with active CBD. With the studies showing so many benefits from CBD, lines using this active are flying off the shelf.
Another aspect driving CBD demand is the market demand for natural products in skin care. As recently as 2015, Grand View Research put the natural market $10.6 billion, or 12% of all personal care product sales.
How you can include CBD in your product
There’s no doubt that now is the time to pounce on the growing demand for CBD skin care. Thankfully, including CBD in your skin care line is easier than you may imagine.
First, you should focus on the quality of CBD. Be cautious of overseas low-cost bulk suppliers as they may or may not provide the highest-grade material you should need. The FDA has already issued a warning stating this advice. Second, the type of CBD is important, with studies showing full-spectrum CBD is more effective than CBD isolate.
What kind of skincare products can include CBD? At the moment, tinctures, lotions, and serums with CBD ingredients are popular products you may wish to consider. While CBD is a great addition to a wide range of products, these are the trending uses.
The hemp business is a rising star at the moment. Consumer demand is high, and the market experts predict rapidly increasing sales in the next few years. Now more than ever is the best time to include CBD in your product line.