2019 has brought a plethora of CBD products that continue to bolster existing product categories and pique the interest of millions of new consumers, according to the industry analyst the Brightfield Group. One product category that has gained a great deal of traction this year is skincare and beauty.
Separate from the topicals category, skincare and beauty products are items such as face masks, eye serums, bath bombs, body lotion and scrubs – some of which are applied topically but few of which are generally used to treat chronic physical medical conditions. In fact, many appeal more to those suffering from emotional health issues – for example, nearly two-thirds of CBD skincare product users suffer from anxiety.
Skincare and beauty products are highly similar to topicals in terms of the implications of the Farm Bill and subsequent FDA announcement. As such, they are generally considered less risky by manufacturers and retailers and are being adopted extremely quickly across the country.
In addition, skincare and beauty products are extremely versatile – giving producers a great deal of room for innovation in this space. They reach a very different audience than general topicals, thus skincare and beauty products are projected to follow their own unique trajectory both in terms of distribution channels and overall growth.
Segment Aims at Specific Consumers
CBD brands have been capitalizing on this growing product segment by creating targeted, purposeful products aimed at specific consumers. The general skincare and beauty industry markets products successfully by highlighting specific customer goals that could be attained through the use of their products.
CBD is no different. Brands like Bluebird Botanicals and Mary’s Nutritionals maintain transparency in product ingredients while emphasizing their benefits and how they will help consumers reach their skincare goals.
By leveraging not only CBD, but functional, supplemental ingredients in their products and descriptions, these CBD brands better tailor their products to the skincare and beauty consumer – as opposed to the average CBD user – appealing to them by utilizing the same tools as traditional skincare and beauty brands and further blending the industry with traditional CPG.
Brightfield Group is a dedicated team of data scientists, analysts and researchers who understand and know how to grow emerging markets. Through intelligent, AI-driven analytics and a holistic research approach, Brightfield enables the long-term growth of the legal CBD and cannabis industries.