Cannabis Chic: The Exciting Intersection Of Beauty, Wellness And Weed Could Unlock A Green Rush For L'Oréal And CPG Brands

The global beauty industry currently generates $100 billion in revenue, and by 2023, consumers in the United States are projected to spend almost $24.5 billion on beauty and cosmetic products online. But consumers are looking for something else, beyond the looks.

Consumers are adopting a holistic approach to personal care. The self-care sector will continue to expand as 68% of consumers are continually seeking self-improvement in beauty products, that cannabis can provide. From improving sleep to acting as an anti-inflammatory, cannabis components contribute to holistic well-being.

Furthermore, cannabis can contribute to differentiating beauty lines in crowded e-commerce platforms and Benzinga came up with a list of reasons why cannabis is a great opportunity for CPG beauty brands.

In addition, Benzinga will be featuring the most influential individuals and organizations in the cannabis industry during the next Benzinga Cannabis Capital Conference, April 11 – 12, 2033 at the historic Fountainbleu Hotel, in Miami Beach. Meet, network, and find the next business opportunity to differentiate your CPG beauty brand and provide value to consumers and investors.

Beauty And Wellness In The Cannabis Era

Beauty, Now Personalized

According to McKinsey & Company, 71% of consumers expect companies to deliver personalized interactions and 76% get frustrated when this doesn’t happen.

Unlike Aloe Vera or other popular medicinal plants, cannabis comes in many shapes and can deliver different therapeutical benefits. Terpenes, cannabinoids, and flavonoids are therapeutical and medicinal components that allow brands to innovate their products while focusing on niche therapies and specific medical needs.

Community-Building

The cannabis industry already has a vibrant community of enthusiasts and medical users that can provide leads on how to approach your consumer base.

Although educational resources for the consumer are widely available, not many CPG brands have ventured yet into the industry.

This represents an opportunity to reach an emerging vertical and consolidate CPG products as reliable, consistent, and safe for consumption.

Consumers Want Sustainable Products

Consumers are increasingly expecting companies to reflect their sustainable principles. Environmentally-conscious consumers are selecting brands based on their ecological footprint. In response to this trend, CPG brands are transitioning from unsustainable practices, including changes in packaging, manufacturing, employment policy, and distribution.

Consumers' choices are increasingly driven by the social and environmental impact of their purchase and cannabis can attract them. And in fact, consuming cannabis-derived products that are sustainably sourced can have a positive impact on the environment. 

The cannabis plant can capture carbon dioxide that pollutes the environment and fix it in the soil where it will be metabolized by the solid food web. Offer consumers something beyond the value of beauty, try cannabis, and drive consumer attention to values that also matter such as sustainability, health, and wellness.

Join us in April at the Benzinga Cannabis Capital Conference and stay at Miami Beach’s historic Fontainebleau Hotel. Don't miss out on a chance to hear about future market forecasts and worldly advice on investing and finance from those embedded in the cannabis industry. Are you ready?

Buy your tickets HERE before prices go up. Book your room HERE.