HEMP Skincare Market Continues Growth

The benefits of CBD in skincare products such as serums and oils is driving the market growth of CBD skincare but also highlighting the development of hemp based skin care products. New Laboratories is at the forefront in the development and manufacturing of Hemp based cosmetics, developing new concepts in collaboration with our client’s brands.
“Despite this growth, CBD is still illegal in several countries which is the major restraining factor for the market growth. For example, in Australia, both CBD and THC are entirely banned from cosmetics. Also, these products are quite expensive which is also hindering the CBD skincare market to reach its full potential.” The CBD ban extends to many markets, as the regulatory systems adjust to the concept and consumer demands. [source: https://www.beautypackaging.com/contents/view_breaking-news/2020-07-15/global-cbd-skincare-market-continues-growth/]

However the good news is that Hemp based products are exploding, and the range of hemp actives available are increasing yearly, with more refined and developed ingredients coming to market, to complete with established skin care regimes. By product type, Hemp based skincare oils account for a considerable growing market share for both anti-aging and acne-fighting properties, thus making them popular among consumers to maintain their skin’s youthfulness.

At New Laboratories, we can assist you with your Hemp based skin care development, from formulation through to manufacturing. Our experience in the use of Hemp actives in this segment could provide you with the edge in this growing market. For more information email info@newlabs.com.au