Cannabis Could Be The Most Profitable Ingredient

Though cannabis is more mainstream than ever, with 29 states and Washington, D.C., having legalized medical and/or recreational marijuana, the fact that it's still classified by the federal government as a Schedule I drug means companies like Lord Jones are racking up legal fees as they attempt to navigate the grey area of selling cannabis-based skincare products.

Cannabis has at least 80 different cannabinoids, a group of active compounds that give the plant its medical and psychoactive properties. Tetrahydrocannabinol (THC) might be the best-known cannabinoid, for creating the “high” effect, but non-psychoactive cannabidiol (CBD) tends to be the star in cannabis-based skincare.

Hemp-derived CBD has been touted in several medical studies as having a myriad of health benefits ranging from treating psoriasis, atopic dermatitis and eczema to minimizing seizures, stress, and insomnia. According to research firm Brightfield Group, the rapidly growing CBD market hit $170 million in 2017 and is projected to reach $1 billion within the next three years.