Hemp Takes Off in $10+ Billion Skin Care Market
Ryan Allway
July 20th, 2017
News, Top News
The skin care market is oft characterized by lengthy ingredient labels and dubious marketing claims, but organic products incorporating hemp-based cannabidiol (“CBD”) offer promising results. Many cosmetics giants have avoided the use of hemp due to its uncertain legal status, although the industry has experienced significant liberalization in recent years. Researchers have begun to focus on the plant while over-the-counter manufacturers release products.
In this article, we will look at hemp’s growing role in the skin care industry, the scientific basis for these trends, and where the industry is headed moving forward. We also look at Trimax Corporation’s (OTC Pink: TMXN) subsidiary, Saavy Naturals, and its line of products that take advantage of the growth trends in the personal care and skin care sectors.
Hemp Grows in Popularity
The hemp industry was worth about $688 million last year, according to Hemp Business Journal and Vote Hemp, which included sales of soaps, seeds, oils, protein powders, shampoos, cereals, and numerous other products. With more than half of the country legalizing hemp farming, the U.S. has become the largest consumer market for hemp products worldwide – and researchers are only beginning to realize the many potential benefits of the plant.
“Hemp Business Journal estimates the total retail value of all hemp products sold in the U.S. to be at least $688 million for 2016,” said Sean Murphy, Founder of Hemp Business Journal. “We estimate that the hemp industry will grow to $1.8 billion in sales by 2020, led by hemp food, body care, and CBD-based products. The data demonstrates that the hemp industry is growing quickly at 22% 5-year CAGR and being led by food and body care products.”
At the same time, Grand View Research estimates that the global market for organic personal care products reached $10.6 billion in 2015 and accounted for about 12% of global revenue in the overall personal care market. Improving standards of living and increased consumer awareness of harmful chemicals – such as phthalates, aluminum salts, and parabens – have led to increased consumption of organic personal care products and will continue to drive future growth.
Does the Science Support Hemp?
Cannabis remains illegal on a federal level despite voters expressing widespread support for the drug. While hemp contains only trace amounts of tetrahydrocannabinol (“THC”), the industry has faced an uphill battle at keeping hemp-containing products on the market. These products have a much more certain legal status following the HIA v. DEA lawsuit, but researchers have been slow to discover the benefits of the drug.
Most dermatology research has focused on pruritus, inflammatory skin diseases, and skin cancer. For example, a recent review of available research suggested that cannabinoids could help reduce itching, modulate inflammation, and potentially treat certain skin cancers. Their anti-inflammatory and antioxidant characteristics could provide anti-aging properties, while hemp seed oil contains both omega-3 and omega-6 fatty acids to protect from sun damage.
Researchers must undergo much more rigorous study before these benefits are proven in double-blind, placebo-controlled studies. But, the early results are promising and the underlying mechanisms of action seem to support the thesis. Researchers are also working to better understand the endocannabinoid system and how skin care products may be able to more effectively leverage receptors to reach desired outcomes.
Products on the Market
There are many different hemp-focused skin care products on the market, but they aren’t all created equally. In fact, many products incorporate ingredients sourced in bulk from low-cost providers overseas that have very little oversight. The FDA has also been critical of many CBD-based products – including pet products – for fabricating the levels of CBD contained in the products – which could in turn limit their efficacy.
Saavy Naturals recently announced the launch of its Saavy Naturals “Bay Rum & Hemp” line, which is a natural extension of its current line of products, including body cream, bar soap, body scrub, shampoo, and conditioner. In addition to hemp, these products contain all organic, 100% natural, vegan, gluten-free, soy-free, cruelty-free, non-GMO, food-grade ingredients that transform it into a premium product targeting the skin care industry.
“We are excited to be adding this new line of hemp oil products to our brand,” said Chief Operating Officer Debra Saavedra. “Research clearly shows that the high content of amino acids and nutrients in hemp oil are extremely beneficial to the skin, and this aligns perfectly with our brand mission of using the most highly effective ingredients that are natural and food-grade quality. This new herbal blend is perfectly suited for men, yet women love it, too.”
Debra Saavedra and her husband Hugo cofounded the company after a long history of providing organic foods and herbs to fine restaurants led them to incorporate the same principles into food quality body care products. Their products can be found on their own site, www.saavynaturals.com, as well as on Amazon and in retailers like Vitamin Cottage, Whole Foods, and Gelson’s Market.
Investment Opportunities
Hemp has become increasingly popular within the skincare industry, which could be a good sign for companies operating in the space. Investors may want to consider public companies like Trimax Corporation (OTC Pink: TMXN) and its subsidiary Saavy Naturals, given their unique approach to the market and strong product line-up.
For more information, visit the company’s website at http://www.saavynaturals.com/.
This article was published by CFN Enterprises Inc. (OTCQB: CNFN), owner and operator of CFN Media, the industry’s leading agency and digital financial media network dedicated to the burgeoning CBD and legal cannabis industries. Call +1 (833) 420-CNFN for more information.
About Ryan Allway
Mr. Allway has over a decade of experience in the financial markets as both a private investor and financial journalist. He has been actively involved in the cannabis industry since its inception, covering public and private companies.
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