- The CBD Beauty Industry
The CBD Beauty Industry
In the last year or so, the CBD beauty industry has taken off across Europe, even after the numerous obstacles it has had to overcome. The UK’s CBD cosmetics sector is an area that shows great promise and potential, especially due to the laws and regulations surrounding cannabis continuing to ease. With many companies and industries including the beauty industry, beginning to expand their product and service lines to include cannabidiol and other compounds found in the cannabis plant. However, the area most likely to benefit from the inclusion of CBD is the beauty sector.
Cannabidiol (CBD) is an active compound which is produced throughout the different species of Cannabis Sativa. When it comes to CBD and beauty it is believed to be an important space where there is a lot of growth potential, especially when it comes to skincare. It seems that this is the time to enter into this sector and use the significant opportunities the current CBD beauty industry has before it takes off across Europe on a large scale.
Many businesses, both big and small, have been continuously attempting to integrate CBD into both skincare and beauty products over recent years. This is because currently, the global market for both legal and illegal cannabis is around £120.6 billion and is predicted to grow to £133.1 billion by 2025, at which stage it is expected that the legal cannabis industry will cover 77% of the market. When looking specifically into the cannabis skincare industry it is expected to bring in around £772.4 billion in revenue by 2024 and will be 20% of the global skincare category.
CBD, however, continues to be a topic of debate across the global market, and this is in part due to there not being any official industry or government-enforced regulations for the standard of CBD products. This lack of regulation has resulted in some products being available on the market that make unsubstantiated claims, and this is evident throughout the CBD wellness sector. However, although the lack of regulation has allowed for some products of poor quality to be sold on the market, there is still a large collection of high-quality and trustworthy brands and products available in the CBD industry.
Although the predicted growth of the CBD beauty industry looks promising, the lack of guidance for CBD products does currently hold this market growth back, but we hope as a whole the CBD industry will continue to move forward as it has in recent years. It is clear that this special cannabinoid is becoming more and more accepted for its numerous benefits, as CBD is becoming more established as a staple within the various beauty and skincare lines that are sold throughout the market.