Skincare revolution takes off

A new report suggests that the CBD skincare market is projected to generate £734m in annual sales by 2024.

It explains that cannabis, with its antioxidant and anti-inflammatory effects, is disrupting the traditional beauty market and supply chain as consumer demand skyrockets for innovative natural cosmetics products.

The report, produced by cannabis market intelligence and consultancy organisation Prohibition Partners, finds that smaller indie brands have driven recent developments in the CBD beauty market, as multinational companies remain wary of CBD’s complicated legal status.

It also shows that select brands are exploiting the interest surrounding cannabis-derived CBD oils to sell beauty products containing low-CBD hemp seed oil, in a practice known as “weed washing”.

Continued consumer education will be vital to ensuring the longevity of the CBD beauty market, the report concludes.

Prohibition Partners’ managing director Stephen Murphy, said: “Cannabis and CBD are rapidly being integrated into a wide spectrum of mainstream consumer products, being used in everything from pet food to skincare.

“Thus far, the disruption we’ve seen in the beauty industry is nothing short of remarkable, attracting attention from high-street retailers, global brands and indie entrepreneurs.

“Consumers are looking for new and exciting products derived from natural and sustainable sources and cannabis continues to fit this mould, driving product demand through the roof.”

“There are constant questions on the longevity of this trend but with the ability to act as a natural anti- inflammatory agent and an antioxidant, cannabis is becoming one of the most disruptive forces in the beauty and personal care industry in the last two decades.”

A separate report by Market Watch from November 2019 estimated the overall global CBD cosmetics market to be valued at over £451m, with North America the biggest market currently.