Q&A: CBD and the Billion-Dollar Skincare Industry
When it comes to CBD finished goods, the beauty industry is by far one of the most popular. In fact, according to a report, the global CBD skincare market is expected to be worth $1.7 billion by 2025. With so many new advancements in the CBD industry from extraction processes to farming, the industry is ever-evolving, much like the skincare industry itself.
To discuss the booming world of CBD and skincare, we sat down with Brittany Giovanniello, our Head of Finished Goods and Key Accounts to discuss just how the CBD and beauty industry mix.
First things first, what are the benefits of having CBD in beauty products?
The natural anti-inflammatory and anti-microbial properties of CBD have shown, in many studies, to ease common skin problems such as acne, irritations, dryness from eczema, and more.
What inspired EcoGen to enter the beauty industry?
If you take a quick look online or in-store, you will see there are ‘traditional’ beauty brands coming up with their own line of CBD-infused products. These are seen on the shelves of incredibly reputable skincare and beauty stores, such as Sephora and Nordstrom. The problem is, most of these brands are by beauty experts, not CBD. So, naturally, we want to be able to service these brands, and new ones entering the market, in these top retailers.
What are some of the most commonly asked questions a potential client has when they express interest in a CBD-based beauty line?
I think it is safe to say that nearly everyone is or has been curious about CBD products at some point. So, when beauty industry experts come to us and are interested in starting a line, they typically have common questions such as:
- What are the benefits of CBD in beauty care?
- Do I choose full-spectrum, broad-spectrum, or use CBD isolate?
- How much do I put into the product?
The short answer is, it depends on the product being made. However, EcoGen is here to help guide clients through the process and ensure we formulate the perfect product for their customers.
What are the most important factors to consider when looking for a CBD partner for a beauty line?
One of the most important things to think about is whether or not the products are being manufactured in an accredited facility. This means the facility keeps batch records and has the ability to trace all of its materials back to a compliant and safe source.
You also want to make sure they have a strong supply chain and are positioned competitively in the current supply chain constrained market – including delivery. Will they be able to deliver a consistent product every time, how well do they communicate, and are they transparent throughout challenges?
With CBD skincare valued at $1.7 billion by 2025, how can the industries prepare for such a demand?
Proper forecasting will help supply chains manage and plan appropriately for inventory and execution. This helps stabilize the supply and demand cycle. Trace and track programs for recall and compliance documentation will become even more important as consumers adopt CBD products into their beauty regimen.
In the end, it is easy to see why the demand for quality CBD-based skincare products will continue to grow. However, offering effective beauty products isn’t just about putting the right type of cannabinoid molecule, or set of molecules into the formula. The ingredients should be researched and incorporated with advanced technologies to increase absorption and ensure stability within the formula.
EcoGen can work with any brand to identify the path to ensuring their products meet label claims and have a competitive advantage in quality and efficacy. To learn more about finished goods, click here.