Cannabis beauty has become so trendy that Wall Street analysts have started treating it as a standalone category.
As beauty products laced with CBD, a non-psychoactive compound found in hemp and marijuana, continue to find their way onto the shelves of retailers including Sephora, Barneys and Neiman Marcus, analysts at Piper Jaffray are seeing further growth in this “beauty and the bong” industry. The trend could help boost the overall CBD market, which Piper pegs at worth $50 billion to $100 billion on day.
“This week at Sephora, we noticed a curated section in-store for hemp-oriented products featuring brands that have dipped their toe into this space,” Erinn Murphy, Piper Jaffray’s senior research analyst, said in a note on Wednesday. “We have seen a high level of interest in cannabis beauty from retailers over the past month based on our store checks and incremental launches.We expect further retailer developments in the coming months.”
– Read the entire article at CNBC News.