Daye, recently announced that it had raised $5.5 million in funding, has created a unique line of tampons with the potential pain soothing capabilities of cannabinoid, a hemp derived drug to relive menstrual stress and pain. With this, the Europe market looks for expansion in the CBD domain where companies and industry leaders are introducing new CBD based products by the day.
CBD is one of the hottest ingredients in the market currently, from the United States to the United Kingdom, all of these countries have CBD lurking in their systems with highly driven people wanting to try out the substance. The European market for CBD based consumer goods alone can generate a market set to be worth $1.7 billion by 2023.
The tampons are safe to use since the chemical used aka CBD is not a psychoactive drug which will make you high. Instead, CBD is popular for its potential health benefits which helps treats anxiety, depression, reduce pain, swelling, inflammation and also some severe ailments such as epilepsy.
The chemical which is responsible for causing the high when people consume weed is THC, tetra hydro cannabinoid. It is a psychoactive substance which can lead to permanent mental disorders if used for a longer period of time in high potency.
Daye founder Valentina Milanova tells Sifted that the CBD used in tampons is being tested and verified in independent research and clinical trials to ensure it helps in cramps and pain while on periods.
âI always suffered from terrible period pain and wanted to bring a solution to market that was designed by women for women and lacked the side effects of Ibuprofen,â she says.
She has also launched a health platform known as Vitals ahead of her product launch for the tampons in autumn of 2019. The entrepreneur closed a funding round of $5.5 million from the Silicon Valley investors Khosla Ventures, Londonâs Index Ventures and Kindred Capital and eminent capital investors including Irina Havas (a principal at Atoico), Kristin Cardwell (a VP at Refinery29) and Sophia Bendz (A partner at Atomico).
Another startup based in London, OHNE already sells organic tampons and recently launched an âAnti Teardropâ CBD oil for customers to pipette onto their products before they use it. Nikki Michelsen tells Sifted that the CBD oil helps her body relax, specifically cramping muscles which allows Nikki to feel calm and rested without any stress. She also said that they wonât be stopping just and would come up with more products that are CBD based or can be accompanied with the substance to increase its effectiveness.
It is not just tampons that are now being introduced in the market space with a pinch of CBD, but a lot of other products like the new virgin category which is being formed. Market research firm Brightfield Group envisions that European CBD market will grow to nearly %1.7 billion by 2023, with the UK and Austria (the biggest CBD markets right now) overtaken by Austria. âFive years from now, CBD will be a very distinct and sizeable category in consumer goods,â says ElioLeoniSceti, cofounder of The Craftory (an investment group for challenger brands).
âThere is a virgin category being formed which is incredibly exciting.â
CBD is the trending ingredient all around the world. International health store, Holland & Barrett are already stocking a range of CBD products to make the compound mainstream and help consumers. The retailers front shelves boast of CBD based products from new businesses like LoveHemp which was founded in London aback in 2015.
It is also associated with long-established and prominent brands such as the Jacob Hooy, a brand born in the Netherlands out of an Amsterdam spice store in the early 1700s.
Founder of NatCan, SteffanDetlaff says that the subject of CBD is a new concept and not everyone knows how to deal with it. Of course, it is a bit shocking when the one drug government had always banned ad prohibited is now made legal for recreational use without proper regulatory reforms in place.
Though CBD does not aid any side effects, it is advised that you should consult your medical examiner or doctor before using the compound. Especially for patients who are already on medicinal prescriptions, please take advice from your physician about using CBD safely and effectively.