Regulations and Best Practices for Cannabis Use in the Wellness and Beauty Sectors
Cannabis is popular in the wellness and beauty sectors. Hempseed oil and CBD generated from hemp are being added by a growing number of businesses to lotions, creams, oils, extracts, and lip balms, among many other goods. Although the industry is growing quickly, the legal system is not keeping up with the sector’s growth and consumers’ general acceptance of these items. This introduction gives a 101 on the legislative body’s present situation, relevant regulations, and practice guidelines as they apply to the beauty and wellness market.
Cannabis-based cosmetics have the ability to become a popular trend for a long time. Companies are marketing products as a universal “mega component,” highlighting strength, protein source, medical benefit, and operational well-being as health and wellness as well as organics are at the center of innovation. The main draw of it is its connection to the treatment or prevention of particular concerns.
The creator and CEO of cannabis marketing agency Jade Stone, Katie Motta, expressed her admiration for the increased tactile quality of consumable businesses’ branding and highlighted K’Dara for its premium appearance. She likes K’Dara’s book which includes gummies.
“The soft touch and minimalist design were simple but effective in showcasing the quality of their products,” says Motta. “I also loved Drew Martin Co. and Cloud 11’s table design. Same energy as K’Dara, but, almost in an opposite direction, theirs felt more modern maximalist to me, but the design of the table made you feel as though you were at an exclusive dinner party. They also had a custom octagon box for their chocolates, which stood out to me as well.”
Luxury consumable companies are, in the opinion of Motta and the other guests who are insiders in the business, ones to follow moving ahead. They are essential to a vibrant cannabis-themed travel and nightlife scene, according to Mitchell Baruchowitz, managing partner of cannabis-focused private equity company Merida Capital Partners.
Insiders speculate that cannabis-based goods may compete with real psychedelics when the field of consumable cannabis products diversifies into a range of doses and delivery methods. “Clearly the adoption of cannabis versus psychedelics is not the same, but I think the biggest competitor to microdosing of psychedelics is cannabis edibles,” says Baruchowitz. “Psychedelics are about life-changing, cracking of the egg, whereas edibles are more of an experience of being bent without cracking the egg.”
North America is the epicenter of a surge in cannabis-infused cosmetics and personal care products, which provide a profitable market for cannabis-derived goods. Despite the existence of certain developed markets, most of Western and Eastern Europe, as well as Latin America, are still developing when it comes to cannabinoid beauty, while Asia Pacific and Australasia have potential.
Japanese CBD company Walala was among the expo floor’s top opulent products. Mike Eidlin, the company’s creator, is a native of California but was born in Tokyo and speaks both Japanese and American with ease. His objectives are to promote high-quality Japanese cosmetics to the American CBD market and to enlighten the Japanese market about CBD and wellbeing through skincare.
“Japan has the third largest cosmetics market in the world,” Eidlin says. “If you use the cosmetics market as a proxy for the potential of any given country’s CBD market, it wouldn’t be crazy to think of Japan as being one of the larger CBD markets within the next few years. Additionally, out of the biggest East Asian countries, China has banned CBD domestically, Hong Kong is banning CBD by the end of this year and South Korea doesn’t allow for CBD consumption, even though it has allowed for FDA-approved medical cannabis drugs. This makes Japan a very interesting market to consider.”
Regulations, marketing, safety, timing, and customer education provide the most hurdles for this business area. Cannabis cosmetics may cater to a wide range of consumers in the scientific, natural, clean beauty, mass, and premium markets if obstacles are addressed.
The sale of beauty and wellness products containing hemp-based cannabis compounds with negligible, or no THC content is permitted. How government regulators will implement prohibitions against businesses selling CBD-based beauty and wellness products is unclear because the legal framework is still in turmoil. To prevent regulatory hazards, businesses can adopt the following best practices: being truthful and accurate, being able to substantiate their claims, being transparent, and diligent, and staying educated.
Sources: https://www.beautyindependent.com/5-major-trends-driving-cannabis-beauty-wellness-market/
Written By: Yaren Ay
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