The Impact Series: Disrupting Beauty

CBD beauty is attracting attention as the ‘next big thing’ in beauty with a plethora of new (mainly indie) brands looking to grab a share of the action. Indie brands find CBD an attractive proposition because of the product’s associa-tions with the culture and exotic connotations of cannabis, but lack of certainty on key reg-ulatory issues is deterring mainstream brands from entering the category. Multinationals are exercising caution with regard to CBD as they have a reputation toprotect. The few launches by big brands have been hemp-based, suggesting a nervousness to invest in a category with too many un-knowns. Instead, established players are ex-ploring the potential of CBD in beauty through acquisitions, investment or joint ventures. Prohibition Partners valued the global CBD skincare market at US$710 million in 2018 with projected sales of US$959 million by 2024. The sector is likely to continue to gain credi-bility with more launches from major players in the coming years and as a result, CBD skin-care could account for around 10% of global skincare sales by 2024. North America is the largest regional market, where companies are looking to capitalise on a hot indie-trend. The Market