Even while legalization and regulations are in flux throughout the Americas region and around the globe, cannabis beauty is making tremendous progress.
“The cannabis market is emerging very, very rapidly around the world,” said Shane MacGuill, Senior Head of Nicotine and Cannabis at Euromonitor during a webinar last month reviewing the global cannabis industry across market sectors and showcasing the launch of the market research company’s newest Passport Research System focus: cannabis. And he added, “the market is currently heavily concentrated in US Canada.”
Major multinationals launch CBD Beauty in 2020
This year—2020—was the year that both Amway and Avon launched CBD skin care. Avon made the announcement first. In April, as Cosmetics Design reported, the social-selling beauty maker announced plans for a new vegan skin care line that would include a CBD oil. And today, Avon has 3 CBD products in its portfolio: Green Goddess Facial Oil, Veilment CBD Soothing & Nourishing Body Cream, and Veilment CBD Nourishing Body Cream, all of which contain 100mg of CBD. Though as the online product descriptions note, “our collection does NOT contain THC. The only high you’ll get is knowing your skin feels cool, calm and collected.”
Amway, as Cosmetics Design reported, announced the launch of its new Artistry Skin Studio product collection in September 2020. And that product line now includes Artistry Studio Zen Daze Ahead Facial Oil +300 mg CBD.
Colgate also got involved in the CBD Beauty market this year. In January the company announced an acquisition deal to buy Hello Products and the following month, Hello launched its CBD product collection, as Cosmetics Design reported. Hello is best known for its oral care products but the brand also makes CBD lip balm, for instance.