Global: The skin care market is frequently characterized by lengthy ingredient labels as well as dubious marketing claims, but organic products which incorporate hemp-based cannabidiol (“CBD”) offer promising results. Numerous cosmetic giants have earlier avoided the use of Hemp due to its uncertain legal status, although the industry has over the year experienced significant liberalization. Researchers have now begun to focus on the plant whereas over-the-counter manufacturers are releasing products. PSIQ also expects to produce and sell exclusive hemp-based soap with infused Dead Sea salts that will rapidly increase their sales and revenue and grow the organic soap market.
“In addition to Hemp and Dead Sea Salts, Elites Soap will include fresh Olive Oil containing 100% natural, vegan, gluten-free, soy-free, cruelty-free, non-GMO, food-grade ingredients that transform into a premium product targeting the skin care industry,” said one of the officials. Shlomo Keshet, who is the CEO of Saboneto, said “We see tremendous opportunity in the sale and distribution of Elites Soap. With the expected passage of the 2018 Farm Bill in the US, the market is unlimited and embryonic.”
According to BlueWeave Consulting, the Hemp market in the U.S. is continuing to grow at a double-digit pace per annum, while American consumers continue to establish their strong interest in Hemp products. Eric Steenstra, President of Vote Hemp said, “We expect the rate of growth of the market to increase, as Congress has indicated its intention to finally lift federal prohibition on industrial Hemp farming. Few other industries can so clearly prove the market demand for their products, whereas the Hemp market has essentially tripled in the last 5 years as Hemp farming advocates have made advancements in legalizing the crop at the state and federal levels.” “We are excited to be adding this new line of Organic Healthy Soaps with Dead Sea Salt to our brand. Research clearly shows that hemp oil is extremely beneficial to the skin. This aligns with our brand mission of using the most highly effective ingredients that are natural and food-grade quality. With the U.S. Senate voting to pass the Farm Bill and US Congress expected to follow suit, there are expectations of imminent passage of the Farm Bill of 2018. Hemp would be completely removed from the Controlled Substance Act creating a tremendous opportunity for PSIQ making the timing perfect to introduce our newest product,” said Dan Oran, CEO of PSIQ. Thus, the introduction of the new organic soap made with hemp and infused Dead Sea Salts
According to the upcoming report by BlueWeave Consulting on “Global Organic Soap Market by Product Type (Bar Soap, Liquid Soap & Paper Soap), by Distribution Channel (Supermarkets, Hypermarkets, Specialty Stores, Online Channels & Others), by Packaging Type (Rigid Packaging, & Flexible Packaging), by Region (North America, Europe, Asia Pacific, Middle East, Africa and Latin America); Size and Forecast, 2018-2025” the market is growing with a significant CAGR owing to increasing cases of skin diseases and other health-related issues are resulting in the growing concern among people towards health and skin care which is driving the growth of the organic soap market. In addition, there is an increasing awareness among people regarding the benefits of organic soaps over conventional chemical soaps. People are very proactive these days and incline towards having a healthy lifestyle, which is why they are more bent towards using organic and natural products to remain healthy and fit. These factors are constantly accelerating the growth of organic soap market.