Cannabinoids and the Clean Beauty Market
Our recent Rare Access interview explored the nuances of bringing a product to market, particularly how this relates to consumer demand. Currently, we have experienced a strong shift towards preferences for clean beauty products that contain natural ingredients that are also safe and effective.
Analysts and industry insiders agree that this isn’t a passing trend. Interest in products made with natural and clean ingredients is here to stay. For example, Statista expects the US natural and organic cosmetics market to grow by $410 million, reaching $1.73 billion USD by 2023. That’s almost a half billion dollars in 3 years, and just in the US.
Looking globally, Bloomberg predicts the global natural cosmetic market to grow to $48 billion USD by 2025, based on data from Grandview research.
The push towards natural, organic, and clean is expanding beyond skincare and cosmetics. New all-natural hair dyes, soaps, and even fragrances are finding their way into the market.
High-end botanical products once only available to celebrities have become mainstream. It sometimes appears that a new brand is launching almost daily.
Consumer Awareness and Preference
Savvy consumers can easily search for and find information that was once hidden behind closed doors. Individuals are learning about the possible dangers of some chemicals in cosmetics and the benefits of natural ingredients. When research about ingredients is released, beauty magazines, bloggers, and influencers often make it accessible through informative articles, social media posts and case studies.
Additionally, there’s also an overall shift towards sustainable living habits. Lifestyles are changing, especially with millennials and Generation Z making conscientious choices to live more holistically for themselves and for the planet.
In short, consumers know exactly what they want. They’re researching products and ingredients before they buy, specifically looking for brands that fit with their beliefs and preferences: natural, sustainable, safe, and effective.
New Ingredients and Certifications
While there are a lot of claims made regarding the efficacy of natural products, more research is needed in many cases. A product may be described as “all natural,” but that’s not enough – it has to work. Consumers, armed with the internet, want proof. This is why the right scientific research is key for a new, natural ingredient to be a success. And innovative companies have raised the bar with research, products, and formulations delivering natural and clean beauty that performs.
Regulation is also extremely important, first to protect the consumer, and second to prevent companies from making claims which are often not backed by science.
Currently, there are limited to no governmental guidelines and certifications for defining products as natural, clean, or organic, but a few organizations have stepped in to fill the gap. Consumers are aware of these certifications and often seek them out while researching new brands and ingredients.
For example, the Natural Products Association certification is highly prized, and many brands are specifically formulating products to meet their criteria.
In addition, retailers such as Sephora and Whole Foods have also implemented products to be featured in the respective clean and natural beauty programs. They have stringent guidelines to which companies must adhere, inspiring trust and loyalty in consumers seeking such products.
Cannabinoids in the Clean Beauty Space
Cannabinoids as beauty product ingredients have risen to prominence fairly recently. These ingredients are found in nature, and the research so far has indicated that they are promising for health and wellness. Research is ongoing to provide definitive proof of their benefits, but we are excited about the emerging science behind these ingredients.
What we know so far: Cannabidiol (CBD) is thought to possess both antioxidant and anti-inflammatory properties and is therefore a good fit for some skincare products. While there have been small, niche brands adding hemp oil or CBD to their skincare lines for some time, we are now beginning to see it make its way into larger brands.
Cannabigerol (CBG) is poised to be the next star cannabinoid. Recent research has begun to highlight its possibilities as an antioxidant and anti-inflammatory. While not as well studied as CBD, the initial data appears promising.
There are over 100 known cannabinoids, and we expect to see more insight into these rare ingredients as scientists continue to make progress in their research.
Looking Forward
At Demetrix, we’re focused on making the world a better place with health and wellness ingredients backed by science. We use biotechnology to produce safe, legal, and effective cannabinoids for consumer and pharmaceutical applications.
We’re excited for the potential of cannabinoids in the beauty and cosmetic industry and believe we are only seeing the tip of the iceberg when it comes to what they can to help improve lives around the world.
