CBD beauty products have been gaining in popularity since the passing of the updated US Farm Bill last year, so much so that A-list celebrities like Kim Kardashian West, Kristen Bell, and Emma Roberts are endorsing them.
CBD beauty products have also made their way to the red carpet, with a number of companies giving cannabis sativa-infused products to Oscar nominees, celebrities, presenters and industry influencers at the WOW Creations Celebrity Gift Lounge as well as in gift bags at this year’s Academy Awards.
But it isn’t only celebrities that are jumping on the CBD bandwagon. Some of the largest cosmetic companies are developing CBD beauty products, while high-end luxury retailers like Barneys, DSW, and Neiman Marcus are jumping to add these products to their shelves.
The demand for CBD-infused beauty and skincare products is expected to get so big that Jeffries analysts are estimating the market will reach $25 billion worldwide in the next 10 years.
So, what is all the buzz about? Let’s take a look at the benefits of CBD beauty products and the cannabis companies already making a mark in the space.
Benefits of CBD Beauty Products
CBD, short for cannabidiol, is known for its potent anti-inflammatory agents and naturally works with the body’s endocannabinoid system, making this chemical compound a suitable addition to beauty and skincare products.
The endocannabinoid system is a biological system that is active within our bodies and serves a vital purpose in keeping us healthy. Recent data shows that the endocannabinoid system is fully functional in the skin and is responsible for maintaining many aspects of skin health.
There have been a number of scientific studies conducted in recent years to investigate the use of CBD for the treatment of various skin conditions, which have led to very positive results. Not only does cannabis help significantly reduce inflammation when applied topically, but it can also assist in hair regrowth.
What’s more, CBD helps in the treatment of acne, as it has the potential to decrease excessive sebum (oil) production and help offset other triggers of acne. It is also very soothing, making it perfect for those with sensitive skin.
If you consider all of the positive results, it’s clear why cannabis companies are keen to develop CBD beauty products and take advantage of the ever-growing market.
Cannabis Companies Selling CBD Beauty Products
National cannabis cultivator Green Thumb Industries Inc. (CSE:GTII) (OTCQX:GTBIF) joined the CBD beauty space when it acquired Beboe through the purchase of For Success Holding Company. Luxury cannabis company Beboe just announced the launch of its CBD-infused skincare collection Beboe Therapies. The line currently includes a CBD serum and sheet face mask and are sold online and in select luxury retailers like Barneys New York and Neiman Marcus.
Canadian cannabis giant Aphria Inc. (TSX:APHA) (NYSE:APHA) is launching its CBD beauty and wellness products on an international level through its subsidiary Aphria Deutschland GmbH. The company recently launched its first CBD-based nutraceutical, the first product in its CBD-based cosmetics line for the German market.
The CannRelief brand of products, which feature CBD derived from hemp, are being produced in the European Union and distributed by Aphria’s subsidiary, CC Pharma, which has access to over 13,000 pharmacies throughout Germany.
Tilray Inc. (NASDAQ:TLRY) also moved into the CBD beauty space this year through a revenue-sharing deal with Authentic Brands. The deal will see Tilray produce CBD beauty products in the US and globally under Authentic’s brand.
This deal is huge considering that Authentic Brands owns 50 brands including Juicy Couture, Jones New York, Nine West, and Nautica.
Ayurveda-inspired wellness brand, Urban Juve is another company that is creating cannabis sativa-infused cosmetic and therapeutic products. Urban Juve, which is owned by The Yield Growth Corp. (CSE:BOSS) (OTCQB:BOSQF), has used its proprietary patent-pending technology to develop a number of hemp root oil-based products, including face moisturizers, lip balm, face mist, face oils, and serum.
Green Growth Brands (CSE:GGB) (OTCQB:GGBXF) is also getting in on the action through its Seventh Sense Botanical Therapy brand. GGB has been setting up Seventh Sense CBD shops across the US to sell the products, and recently launched its e-commerce site ShopSeventhSense.com to give consumers digital access to its Seventh Sense brand’s hemp-derived cannabidiol (CBD) personal care and beauty products.
Seventh Sense products include CBD-infused bath salts, body lotion, sugar scrubs, bath bomb, muscle balm, body wash, lip balm, and face oil.
A number of CBD beauty products are also making their way to the red carpet. One of these is Wildflower Brands Inc. (CSE:SUN) (OTCQB:WLDFF), whose CBD+ Healing Stick found its way into the gift bags of the stars during Oscar weekend 2019.
CBD beauty products from 1933 Industries Inc. (CSE:TGIF) (OTCQX:TGIFF) were also given to Oscar Nominees, A-listers, and industry influencers. The company’s subsidiary, Infused MFG., manufacturer of the Canna Hemp™ line of CBD health and wellness products, gifted its CBD Relief Cream and CBD Elixirs at the WOW Creations Celebrity Gift Lounge event.
Biopharma company MGC Pharmaceuticals (OTCQB:MGCLF) has also been creating CBD beauty products through its subsidiary MGC Derma. The company offers an extensive line of products, from CBD toners and repair creams to CBD anti-aging masks and eye creams.
iAnthus Capital Holdings (CSE:IAN) (OTCQX:ITHUF) just entered the CBD beauty product space with a letter of intent to acquire CBD For Life.
Another company that is jumping on the CBD beauty bandwagon by acquiring an established company is Pure Global Cannabis Inc. (TSXV:PURE) (OTCPK:PRCNF). Pure Global just signed a letter of intent to acquire The Great Canadian Hemp Company, Ltd., which creates organic vegan hemp-based, all-natural skin and hair products.
It is clear that CBD beauty products are a huge trend for 2019. It will be exciting to see which products will dominate the market in the coming months and what other major retailers will stock their shelves with these products.
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