Cannabis beauty has turn into so trendy that Wall Street analysts have began treating it as a standalone category.
As beauty solutions laced with CBD, a non-psychoactive compound located in hemp and marijuana, continue to locate their way onto the shelves of retailers such as Sephora, Barneys and Neiman Marcus, analysts at Piper Jaffray are seeing additional development in this “beauty and the bong” sector. The trend could assist increase the all round CBD marketplace, which Piper pegs at worth $50 billion to $100 billion on day.
“This week at Sephora, we noticed a curated section in-retailer for hemp-oriented solutions featuring brands that have dipped their toe into this space,” Erinn Murphy, Piper Jaffray’s senior analysis analyst, mentioned in a note on Wednesday. “We have observed a higher level of interest in cannabis beauty from retailers more than the previous month primarily based on our retailer checks and incremental launches.We count on additional retailer developments in the coming months.”
– Study the whole report at CNBC News.