CBD Skin Care Market

The global CBD skin care market size was valued at $633.6 million in 2018 and is anticipated to reach $3,484.00 million by 2026, with a CAGR of 24.80% during the forecast period. The CBD skin care market exhibits an incremental revenue opportunity of $2,747.4 million from 2019 to 2026. CBD (known as cannabidiol) is the non-intoxicating compound extracted from marijuana or hemp plants. CBD is extracted in the form of powder, and is usually mixed with an various types of oils including olive, coconut, or hemp oil, to increase the effectiveness of CBD in varied applications. CBD oil based products are comprised of various types of properties including, anti-inflammatory, antioxidant, and skin soothing. The presence of such outstanding properties in one single blend make CBD oil as one of the key components in skin care and personal care products. 

Holistic benefits of CBD infused skin care products are in spotlight after the legalization of marijuana and cannabis based cosmetics. CBD infused skin product is gaining popularity among consumers due to its calming properties. It has a potential to relive common skin issue through its anti-inflammatory, anti-oxidant properties. CBD-based skin care product also offers various benefits such as improved sleep and also helps in the treatment of various skin conditions such as eczema and psoriasis, as well as acne. The unique benefits associated with CBD based skin care has been capitalized by cosmetic companies. These companies are promoting CBD infused skin care products as “natural cosmetic” in the market. The multi-functional attributes of these products is expected to propel the demand for CBD skin care products.

CBD oils are largely used as an active aromatherapy ingredient by sleep specialists. The calming properties of CBD oil are responsible for improved sleep among patient suffering from OSA. Moreover, the CBD oil infused products are largely used for the treatment of acne and psoriasis due to its anti-inflammatory properties. The presence of multi-functional benefits in CBD infused skin product is expected to fuel the revenue growth of the overall CBD skin care market forecast period.

Personal care industry is witnessing a shift toward CBD infused skin care products. According to California-based Hemp Industries Association (HIA), there were $147 million worth of hemp-based personal care products sold in the U.S. market in 2015. Majority of these personal care products were imported from the neighboring country, Canada. The sale of American-produced hemp-based personal care products has been increased double fold owing to acceptance of multi-channel distribution by wholesales, private labelers, and other importers. These stakeholders are developing a separate product line of CBD infused personal care products. This product line comprises skin care, hand care, and lip moisturizer products. Companies are primarily marketing their products for health benefits associated with CBD in skin care products. The innovative positioning of CBD infused skin care products coupled with effective distribution strategies are expected to boost the CBD Skin Care market growth during the forecast period.

CBD based skin care products are largely regulated by authorities due to its THC content. Many developed countries does not clear guidelines on the use of CBD oil in personal care industry, which has resulted in limited sales of these products. Countries, such as Australia, Germany, and France have strict regulation on use of CBD in skin care products. These regulatory impositions from government authorities impedes the growth of CBD skin care product in the developed regions. The wellness hemp and medical cannabis nascent industry is witnessing a constant pressure from regulatory bodies despite their significant benefits. Such existence of regulatory pressure is expected to limit CBD skin care market share during the forecast period.

The CBD skin care market segmentation is categorized on the basis of product type, source, distribution channel, and region. By product type, CBD skin care market is categorized into oils, lotion and creams, masks and serums, bath and soaps and others. By form, it is bifurcated into hemp and marijuana. By distribution channel, it is classified into departmental stores, e-commerce, hypermarkets/supermarkets, retail pharmacies, and others. Region-wise, it is analyzed across North America (the U.S., Canada, and Mexico), Europe (Germany, France, Spain, Italy, and Rest of Europe), Asia-Pacific (China, India, Japan, Australia, South Korea, and Rest of Asia-Pacific), and LAMEA (the Middle East, Latin America, and Africa).

The CBD skin care market size is analyzed across North America, Europe, Asia-Pacific, and LAMEA. The North America and Europe regions have strong revenue opportunity in the market. These regions offer lucrative growth opportunity for new entrants as well as established manufacturers owing to increased spending on personal care and cosmetic products and rise in incidences of skin diseases such as psoriasis, and acne. Moreover, favorable regulations and close monitoring of CBD based skin care product manufacturing is promoting the revenue growth CBD infused skin care products in these regions. The liberalization of hemp and marijuana cultivation in Canada is expected to play an important role in the growth of CBD based personal care products. In addition, the continuous efforts in terms of R&D from leading cosmetic companies are expected to boost the growth of product innovations in the CBD Skin Care market analysis.

The key players operating in the global CBD Skin Care industry include Kiehl’s LLC, Cannuka LLC, Leef Organics, Medical Marijuana Inc., Lord Jones, Kapu Maku LLC, VERTLYBALM, Elixinol Global Limited, Fab CBD Company, and Endoca LLC. Other CBD Skin Care market players identified in the value chain are L’Oreal, Varm Cosmo, L’Eela, Apothecanna, Charlotte’s Web Holdings, Kana Skincare, Josie Maran Cosmetics, Cronos Group, CBD Biotech, and Estee Lauder.

Key Benefits for Stakeholders:

• The report provides detailed qualitative and quantitative analysis of the current CBD Skin Care market trends and future estimations that help evaluate the share and the CBD Skin Care market opportunity.
• The key drivers, restraints, opportunities, and detailed market analysis are elucidated in the study.
• The market analysis is conducted by following key product positioning and monitoring the top competitors within the industry.
• The report provides extensive qualitative insights on the potential and niche segments or regions exhibiting favorable market growth.
• Industry player positioning segment facilitates benchmarking and provides a clear understanding of the present position of players in CBD skin care market

 CBD Skin Care Market Report Highlights