The Hemp Industry Joining Forces with the Beauty Industry May be a Perfect Match.
The ever-growing market for Hemp and CBD products is increasingly capitalising on the lucrative beauty industry. So how much is hemp worth in the beauty world? The Prohibition Partners valued the global CBD skin care market at $710 million in 2018 with projected sales of $959 million by 2024. According to the Financial Review, skin care sales have been growing 7 or 8 per cent a year for several years, and the beauty industry continues to boom beyond expectation. For example, Sephora Australia's sales more than doubled to $149 million and Chemist Warehouse's beauty sales are said to be growing in high double digits. Likewise, the growing consumer desire for hemp products has been expanding greatly over recent years.
The financial benefits of hemp in beauty can be clearly seen, however what can hemp actually do for your skin?
Hemp has increasingly been embraced by the wellness community, so it comes as no surprise that CBD infused skincare is the latest craze in beauty. According to Adore Beauty, a leading skincare and cosmetics distributor in Australia, hemp seed oil is more readily consumed than CBD based products. Hemp seed oil is derived exclusively from the seeds of the cannabis plant, as opposed to CBD which comes from the plant itself. Hemp oil is harvested by cold-pressing hemp seeds and is unrefined. Hemp seed oil penetrates deeply into your skin, meaning it is a great treatment for skin conditions such as eczema, acne prone skin and dermatitis. Further, a recent study shows hempseed oil is a pioneering treatment to help atopic dermatitis, an example of the diverse potential the cannabis plant offers.
It's hemp seed oil that's really making a splash, not CBD.Joanna Fleming, Co-Founder of Adore Beauty
Hemp skincare has been on the market for many years, despite its recent popularisation. The Body Shop launched its Hemp Dry Skin Treatment range in 1998, provoking the public with its slogan: "Get Hooked on Hemp". Hemp carries the value of novel interest from customers who aren't informed of its deep and real benefits to your skin, as well as the opportunity for people with genuine interest in natural ingredients to take advantage of the versatility of the cannabis plant. Recent product launches containing Hemp include the emerging brand Diuex, which was founded by an expert chemist and is pioneering clinical testing in order to regulate the hemp skincare industry.
The cosmetics industry has also embraced the imagery of CBD and Hemp in their products. Melt Cosmetics, which boasts of embodying freedom of expression through makeup, launched a line of 'smoke sessions' cosmetics and a 'Four Twenty Pallet', inspired by the marijuana plant and garnering great interest in their brand and products. Weed is increasingly incorporated into companies branding and cultural appeal.
Hemp seed oil is also beneficial for moderating the natural oil production in your skin. One of the omega-6 fatty acids that hemp oil contains is gamma-linolenic acid (GLA), which acts as a powerful anti-inflammatory while also boosting skin growth and new cell generation. This suggests a future in hemp skin care in anti-ageing treatments.
The versatility and far reaching wellness properties of hemp are yet to be fully embraced by the beauty community. Companies pioneering trials and formulas containing CBD and hemp oil are positioned to ignite interest in consumers looking for newer, more natural products.
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