CBD is perhaps the top trending beauty and wellness topic of 2020. Since 2018, when the U.S. Farm Bill made industrial hemp legal, CBD has shown up in all kinds of products. In fact, in the United States alone, CBD sales are projected to top $40 billion by 2024, according to a study by BDS Analytics and Arcview Market Research. Brands are clambering to get out the next iteration of CBD merchandise as quickly as possible and take advantage of a booming market. Benefit claims are widespread — use of CBD is being explored for everything from easing anxiety to skin renewal.
While there are many reasons to get into the CDB game, it’s important to recognize that, like any other beauty substance, there are rules and regulations governing its sale. And because it is relatively new as a viable, legal product, the rules are evolving at a rapid rate. So before you begin churning out toothpaste, lotion, and makeup laced with a CBD boost, it’s important to do your homework and understand the market landscape. Here are five things you may not have known should be part of creating and selling CBD products.