Our take: Hemp has emerged as one of the main under-the-radar segments of the cannabis market that could drive growth... | -----------
Along with the growing cannabis industry, hemp cosmetics is becoming a trend these days as the plant contains properties that are good for the skin.
The cannabis industry has been tipped to grow massively in the next decade with medicinal marijuana playing a big part.
Specifically, hemp is expected to benefit from the growing interest in the cosmetics market, which has embraced the various uses of the plant.
According to reports, the skincare market, which is worth about $12 billion in annual revenues, has emerged as one of the hottest marketplaces for hemp products.
The cosmetics industry is dominated by healthcare giants Johnson & Johnson (NYSE:JNJ) and Procter & Gamble (NYSE:PG), alongside a flurry of other notable brands based in the U.S. and western Europe.
As such, disrupting such an industry would seem almost impossible, especially considering the fact that most industrial hemp manufacturers are relatively smaller compared to the industry giants that run the cosmetics industry.
Nonetheless, experts in hemp products argue that hemp additives can now be found in...
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