With the inception of the legalization of cannabis in U.S, a colossal wave of cannabis-based products can be observed flourishing in the market. From stock market trades to infused drinks, cannabis is now sprawling over the market with an intent to create a revolutionary impact – fiscal and medicinal.
Being a step ahead in the game, multi-national firms and organizations are already partnering with cannabis producers and distributors to make appealing products to capture the consumer market by its hook. Intensives research and studies are being conducted to ensure safe usage and consumption of cannabis.
Market’s Transition to CBD-based Products
CBD, popularly known as cannabidiol is one of the two vital parts of the plants belonging to the cannabis genus. The other is known as Tetrahydro Cannabidiol (TCH) which when used in proper proportions can relieve stress.
CBD has come off clean in terms of its usage. There are negligent or minimal side effects associated with CBD and is safe to use by everyone. Many users in fact, claim that they have seen no side effects at all.
Several studies claim that CBD is non-toxic in nature even in high dosage. Even doses as high as 1,500 mg per day can be tolerated says NanoCraft CBD.
CBD Based Beauty Products
While many natural compounds are found in the Cannabis plants, CBD is linked with a range of potential health benefits – it is non-psychoactive and does not cause any high.Due to this cannabidiol is widely being used in making consumer-based products like tea, coffee, supplements, dog treats, beer alternatives and beauty products.
Whereas, tetrahydro cannabidiol (TCH) have proven to have therapeutic properties which makes you high and thus are not preferred for mass consumption or production.
Cannabidiol is being infused in a variety of beauty products entailing lotions, balms and creams. As with most of the CBD-based products, beauty products derived from marijuana are majorly available in dispensaries where cannabis is legal. However, hemp-derived products can be found in grocery stores and corner shops as well.
According to Jefferies, a wave of marijuana has also driven commercialization of CBD-infused beauty products.He further added that, “Beauty products infused with cannabidiol, or CBD, are predicted to grab hold of 15% of the $167 billion skincare market in a decade.”
“Consumers’ interest in wellness, natural ingredients, medicinal benefits and the legalization of marijuana in several states/countries have catalysed interest in CBD beauty,” Stephanie Wissink, an analyst at Jefferies said in a note out Tuesday.
She added that beauty products infused with cannabidiol, or CBD, one of the most well-known of more than a hundred different phytochemicals found in cannabis – will generate $25 billion in revenue globally in a decade, representing 15% of the $167 billion skincare market.
Apart from majorly used in the development of beauty products, cannabidiol is also being used for making infused-drinks. They are set to hit the shelves by 2019 however the backend work has already begun.
Multinational companies are capitalizing on the nascent Cannabis legalization in the market. The brewer of Budweiser, Anheuser-Busch InBev is involved in a research partnership with Tilary Inc. and are looking to develop a unique, non-alcoholic, cannabis-infused drink with a decent taste using CBD and TCH, both.
While the invention of cannabis-infused drink is envisioned to lower down alcohol consumption, especially beer, the creation itself seems like a herculean task to many. It has been observed that cannabis-infused drinks taste like urine. However, a handful of companies have still managed to launch their infused drinks with minimum approved percentage of CBD.