Hemp Surpasses 1.5 Billion U.S. in Europe

June 2, 2010 – The much maligned Hemp plant is becoming the new ‘focus’ for many cosmetic manufacturers who are are increasingly drawing on more innovative ingredients in a bid to shake up the over-saturated natural and organic market.

Enviro-savvy consumers are increasingly searching for cosmetic products that are both sourced from the natural environment and are innovative, prompting manufacturers to constantly create product ranges that cater to their demands.

Oil derived from the hemp plant has long been used for its moisturizing properties in the creams and cosmetics market. However, there has been a notable influx of product/company launches across the globe in the past 12 to 18 months.

Organic Monitor, a research company, estimates that the European market for natural and organic products is currently growing at 20 per cent a year, and is set to surpass a value of $1.5 Bn.

Tight regulations in the US have withheld hemp cultivation, with legislation lagging behind other countries in terms of differentiating between hemp production for recreational and industrial use.

Despite this restriction, the US remains one of the most prolific producers of cosmetic products manufactured with hemp seed oil, alongside the UK and Germany, with Canada already recognizing hemp as the country’s most profitable crop. Source.

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