Is plant based the next big thing in the beauty category?
Many industry officials believe that it could be, especially since beauty trends frequently mirror the food industry.
In fact, plant-based food sales soared 27% during the pandemic as consumers purchased products they considered healthier, according to SPINS data. More than 57% of households bought plant-based foods. Now that is spilling over into beauty and could supplant the current move to “clean” formulas, an enigmatic term with no regulations from the Food and Drug Administration.
As the beauty category looks to rebuild from its 16-month hiatus caused by the COVID-19 pandemic, many in the industry are looking to stay ahead of the curve when it comes to consumer demands. Some are willing to bet that plant-based products could catch on with shoppers and lead to a big uptick in sales at mass-retail outlets that get involved with the segment.
Industry officials said that plant based is more transparent and gaining momentum from some beauty companies. A quarter of consumers report they are buying plant-based skin care already, according to Linkage research, while 39% indicate they would like to buy products with plant-based ingredients.
Last year not only boosted usage from existing consumers for Denver-based HempFusion, but also enticed new users, said Ola Lessard, chief marketing officer. Buoyed by demand, the company increased the amount of CBD in its sleep and support products.
The industry entered 2021 in a better position to flourish. Industry consolidation, such as Cronos’ purchase of Lord Jones, Canopy Growth’s acquisition spree that includes This Works and Charlotte’s Web’s buy of Abacus Health, resulted in bigger and stronger players. There also was a shakeout of brands that merely jumped on the bandwagon without either expertise in beauty brands or growing crops. Consumers also have more faith in products thanks to certificates of analysis that can be accessed through QR codes.
“There is more acceptance of CBD products and especially companies that have highly efficacious products on the market,” said Nancy Duitch, CEO and founder of Sherman Oaks, Calif.-based Sera Labs and chief strategy officer of Cure Pharmaceutical.
Her brand received a boost when actress Nicole Kidman signed on as brand ambassador. Duitch said that Kidman became a fan of CBD and Sera when she hurt her ankle and used the products to quell her pain.
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“We are very fortunate to have Nicole Kidman as our strategic business partner and global brand ambassador for our Seratopical by Sera Labs topical products,” Duitch said. “Every time Nicole speaks to an outlet like Vogue, InStyle or People magazine, or posts a video on social media about one of her favorite products like Overnight Hand Therapy, Cracked Heel Souffle or Radiant Glow, our sales explode. Consumers are excited to learn about CBD products they can trust.”
In addition to CBD-based products, the company recently launched Seratopical Revolution, a skin care wellness range that does not contain CBD, but offers natural, plant-based ingredients. A proprietary Triple Peptide Complex ensures that the ingredients penetrate the skin for maximum results.