The demand for CBD products has garnered the attention of many of the nation’s top retailers. Many companies are taking a serious look at the health, wellness, and beauty products infused with CBD.
CBD is quickly emerging onto the consumer market as one of the most popular wellness ingredients in skincare products. Because of the demand, analysts at Greenwave Advisors have estimated that by 2021 the global CBD market value will reach $3 billion. Other analysts at Transparency Market Research estimate that the market could double in value to $2.5 billion by 2026. Jefferies offered its analysis that the CBD beauty market could reach $25 billion by 2028.
Many retailers have jumped on the CBD bandwagon. These retailers include Neiman Marcus, Vitamin Shopper, Kroger’s, Barney’s, DSW, CVS, and Walgreens. They all plan to carry CBD beauty and personal care products. Starting in October 2019, American Eagle Outfitters announced it would stock CBD-infused products in 500 stores and online.
Sephora now offers CBD products in 170 locations. The beauty product chain began selling Lord Jones’ high-CBD formula body lotion in 2018.
“At Sephora, we consistently strive to bring first-to-market product trends, innovation, and experiences of the highest quality to our clients, and the growth of our CBD category is one such example of this,” said Sephora’s vice president of skincare merchandising, Cindy Deily.
Urban Juve appeals to a health-conscious target market and is now sold in 130 retail locations throughout the US and Canada.
“We’re executing on our marketing strategy to boost brand awareness and increase sales each month. We secured 130 retail locations to carry Urban Juve very quickly,” says Sandi Lesueur, President of Urban Juve. “We believe that we’re reaching the market at the perfect moment. The global demand by consumers for luxury, stylish skincare products continues to grow. Our unisex hemp-infused skin and body products are beautifully packaged and made with quality, clean ingredients. We think our brand is exactly what the market is looking for.”
With the demand for new and better products infused with CBD, the market will continue to grow. Keep your eyes out for more products popping up on store shelves.