CBD is a beautiful thing. That seemed to be one of the key takeaways from Cosmoprof North America 2019, the leading B2B trade show for the beauty and skin care products industry.
“All the retailers want in on CBD,” said Stephen Letourneau, Chief Brand Officer, Cannuka, a premium skincare brand that combines CBD with Manuka honey. He was speaking this week as part of a panel discussion entitled, “CBD & Beauty: the Next Five Years.”
Letourneau asserted that the cannabis industry is moving dramatically and more quickly than any other industry, even though regulations still impact how products are marketed and sold.
“The market is demanding these products be available,” Letourneau said. “Retailers that wouldn’t talk to you six months ago are flying you out today.” He credited Sephora for working diligently for years to trailblaze to make the products available. He added that Neiman Marcus was an early innovator in the space, and that even mainstream QVC has asked for product samples.
According to The Benchmarking Company survey conducted in February 2019, 39% of respondents purchase cannabis infused or derived beauty and personal care products directly from brands, while 31% purchase products from specialty retailers.
Gen Xers are the leading demographic for CBD infused beauty and personal skin care products. Medical value was the most often qouted selling point. Currently, 18% of US consumers use or have used BPC products that are cannabis-derived or contain hemp seed, hemp oil or CBD.