Business
Hemp Takes Off in $10+ Billion Skin Care Market -- CFN Media
Hemp Takes Off in $10+ Billion Skin Care Market -- CFN Media.
About this update from Trimax Corp.
[{"type":"text","content":"\n \n \n Hemp Takes Off in $10+ Billion Skin Care Market -- CFN Media\n \n \nHemp Takes Off in $10+ Billion Skin Care Market -- CFN Media\n \n SEATTLE, WA--(Marketwired - Jul 20, 2017) - CFN Media Group (\"CannabisFN\"), the leading creative agency and digital media network dedicated to legal cannabis, announces the publication of an article examining 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.\n 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.\n Hemp Grows in Popularity\n 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.\n \"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.\"\n 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 che...