Unilever Plc subsidiary Schmidt’s Naturals, a natural deodorant company, is launching a CBD-infused product later this year,Bloomberg reports.
Bloomberg cites Cowen & Co. as saying that nearly 7% of Americans are already using CBD products, with the market forecast to rise to 25 million consumers who could spend upwards of $16 billion by 2025. Bloomberg talked to David Soberman, a marketing professor at the university of Toronto’s Rotman School of Management, who said that a company like Unilever entering the CBD space could open the floodgates for other major consumer-goods companies.
Michael Cammarata, CEO of Schmidt’s, told Bloomberg: “CBD is probably the most powerful ingredient that we’re going to see over the next decade in the personal care market.” He also told Bloomberg that Unilever was part of the process, working to ensure that the deodorant complies with all laws.
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