Financial analysts and mainstream news sources across the board continue to tout the growing popularity and profitability of the CBD industry, especially now with an increasing number of consumers across key demographics searching for the benefits of hemp without any of the unwanted side effects of other products.
According to a recent report on CNBC, Jefferies analyst, Stephanie Wissink, claims that the emerging CBD “beauty boom” is set to become a $25 billion industry on its own. In a recent interview with Melissa Lee and the Fast Money traders, Tim Seymour, Karen Finerman, Dan Nathan, and Guy Adami, Wissink spoke of both growing consumer and retailer interest in the compound.
“To the degree that consumers are willing to give it a try and accept it, it could become something more meaningful, more quickly,” Wissink told the group at CNBC.
It’s a growing trend not only in the states but across the globe as well. In a recent interview with PotNetwork News, Chris Naprawa, President of Khiron Life Sciences, a Canadian medical cannabis company with core operation in Colombia, spoke of CBD beauty as a growth market. Last year the company launched its wildly popular Kuida brand skincare line of CBD products in Latin America.
“Our goal has always been stated as wanting to be the dominant player in cannabis in Latin America,” Naprawa told PotNetwork News in reference to the Kuida brand. “And, to do that, we’re willing to enter all kinds of different product lines. It starts with the patient and then, at the core of our DMA, it’s a medical company, but there’s absolutely no reason that we can’t get other products approved.”
As for Wissink, she told the team at CNBC that the growth of this new market depends on retailers at this point.
“So right now, it’s really the retailers,” Wissink said on CNBC. “[It’s] The best way to get exposure—if this is an emerging trend and we’re thinking of this as an emerging trend in beauty like we saw with Kay Beauty”.