CBD Topicals: $4.5 Billion by 2025

According to the Brightfield Group, a leading cannabis research company, the CBD topical market is growing exponentially. By 2025, CBD topical annual sales are on target to hit $4.5 billion, an increase of 540% in just five years. The data comes within a new report on the current CBD topical marketplace from San Francisco-based consulting firm Cultivating Wellness.

The primary objective of the report is to offer businesses that sell CBD topical products an inside look at today’s market while providing data and analysis designed to spark the vision necessary to compete and remain profitable in the future, notes Cultivating Wellness.
 
“This new report provides solid data on the texture of today’s CBD topicals market,” said Cultivating Wellness CEO Greg Dicum, “and it also reveals some surprises about the sector. For example, we knew that lotions and balms are the most common CBD topical formats, but we were surprised to discover how distinct the market leaders are from the hundreds of brands in the sector in terms of CBD inputs, strength, formulations, and claims.”
 
“The data also clearly shows that CBD topicals are firmly established as largely natural products,” he continued, “with common natural ingredients like coconut oil and beeswax predominating in the formulations.”
 
Dicum noted, however, that the data also shows “some disturbing aspects of the CBD topicals landscape.
 
For example, he said that outside the 10 largest CBD topicals brands, problematic claims are routinely being made about products’ effects on various health conditions. 
 
“Despite a steady stream of warning letters from the FDA, the industry has still not learned.”
The research will help pinpoint opportunities for brand expansion through potential partnerships and serve as a roadmap for businesses looking to enter the market, noted Dicum.
 
The Cultivating Wellness CBD Topical Research Report surveyed 360 hemp-based topical CBD products from 112 brands that together comprise the majority of sales in the sector. 
 
Information on how to obtain and download a copy of the Cultivating Wellness Topical Research Report is available here.