Author：Date：2021-3-16
The global regulatory landscape is evolving quickly and it’s important to understand the history of legalisation in the US. In January 2014, Colorado became the first state to have state-legal sale of non-medicinal cannabis and, quickly after, Washington and eight other states plus the District of Columbia enacted laws to make the adult use of cannabis legal.
There are now 33 states with effective medical marijuana laws, but despite this progress, the US federal government still considers cannabis an illegal substance. The one exception is hemp, which contains less than 0.3% THC and was made legal with the passage of the 2018 Farm Bill.
We expect legalisation momentum to continue across the world, which will continue to increase cannabis industry growth and sales.
Reports state that Europe is set to become the world’s largest legal cannabis market in the next five years. According to news reports, the industry has grown more in the last year than the last six years combined.
France, the UK and Spain are reviewing current legislations, while industry leaders Germany, Italy and the Netherlands are focusing on expanding existing medical programmes.
Over 25 countries have legalised medical marijuana and Canada legalised recreational marijuana in October 2018. The medical cannabis market is considered to hold the greatest commercial potential in Europe over the short term, with recreational legalisation expected to be a slower process.
CBD in beauty
The most visible trend in the market is CBD-infused products. Many major retailers in the US have begun to sell CBD products, including beauty and skin care. Cannabidiol (CBD) is a non-psychoactive cannabinoid, which is extracted from the cannabis plant.
It is increasingly believed that CBD is able to treat anxiety, epilepsy, inflammation, nausea and other conditions, and since CBD is an extract, it is particularly easy to add to products.
Due to its recent popularity within the US, its potential health benefits and non-psychoactive properties, CBD has tremendous potential to be integrated into luxury products.
The market forecast is in favor of beauty and personal care products. Personal care accounted for 24% of the hemp-based product market in the US as of 2016 (Congressional Research Service and the Hemp Business Journal) and many retail for premium prices.
Skin care and beauty products from brands like Origins, Saint Jane, PureKana, Herbivore, Kiehl’s, Josie Maran and Lord Jones retail between approximately US$30 and $125.
The packaging and design of these products aren’t hippie, tie-dyed or flower-power, either. They are modern, sleek and worthy of posting onto a customer’s social media account. CBD products have also been available at retailers like Barneys and Sephora.
Celebrities Jennifer Aniston, Mandy Moore and Olivia Wilde have also voiced their support of CBD products, adding to the overall attention being drawn to these products.
But what about packaging?
One of the biggest challenges of cannabis packaging is state packaging regulations. Cannabis packaging typically needs to be secure and sealed. Many states require child-proof or child-resistant packaging, which can be utilised in the primary packaging to maintain the secondary packaging’s aesthetic.
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