By Joanna Cosgrove, Contributing Writer04.01.21
COVID quarantine fatigue has made self-care a priority and consumers are increasingly keen on incorporating CBD into their daily routines as the scientific community continues to validate CBD-related health benefits. Brands from all market categories are happy to oblige, especially in the cosmetic and personal care realms.
According to a market forecast published by consumer research firm BDSA, the entire 2020 cannabis market is projected to top $19.7 billion in 2020 (this includes the impact of COVID), representing a 38% increase over 2019 sales of $14.8 billion. Drilling deeper, Million Insights forecasted that the global CBD skin care market is expected to reach $1.7 billion by 2025 (+32.9% CAGR), and cited ongoing “awareness related to the healing properties of CBD infused beauty products” as a major growth driver.
“As laws continue to change around the country, making CBD products more commonplace, we have seen demand for products incorporating CBD in their formulations grow,” said John Ziemba, vice president, sales and operations, USS LLC. “Consumers have to balance societal stigmas associated with CBD products, legitima
According to a market forecast published by consumer research firm BDSA, the entire 2020 cannabis market is projected to top $19.7 billion in 2020 (this includes the impact of COVID), representing a 38% increase over 2019 sales of $14.8 billion. Drilling deeper, Million Insights forecasted that the global CBD skin care market is expected to reach $1.7 billion by 2025 (+32.9% CAGR), and cited ongoing “awareness related to the healing properties of CBD infused beauty products” as a major growth driver.
“As laws continue to change around the country, making CBD products more commonplace, we have seen demand for products incorporating CBD in their formulations grow,” said John Ziemba, vice president, sales and operations, USS LLC. “Consumers have to balance societal stigmas associated with CBD products, legitima
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