CBD Skin Care Market By Product Type (Oils, Lotion, Mask & Serum) , By Form (Hemp, Marijuana) By Distribution Channel (Departmental stores, e-commerce, hypermarkets/supermarkets, retail pharmacies, Others) : Global Opportunity Analysis and Industry Forecast, 2024-2033
CBD Skin Care Market
The CBD skin care market was valued at $1.5 billion in 2023 and is projected to reach $8.9 billion by 2033, growing at a CAGR of 19.5% from 2024 to 2033.
CBD skin care involves the use of cannabidiol (CBD), a non-psychoactive compound with diverse medicinal and antioxidant properties, to develop beauty & wellness products. Its key benefits include inflammation reduction, hydration, sensitivity relaxation, and skin health promotion. Different products available under the CBD skin care landscape include oils & serums, moisturizers, balms, creams, face masks, and sunscreens. Owing to the extensive benefits and healing properties of CBD, the market is establishing a specific niche in the vast beauty industry.
Increase in demand for plant-based natural skin care products is a key driver of the CBD skin care market. In addition, the ability of CBD-based products to treat diverse skin conditions such as acne, eczema, and aging signs is propelling the development of the market. Furthermore, the availability of a wide range of products that cater to different requirements of users augments the market growth significantly. A notable trend gaining prominence in the market is the deployment of CBD skin care products into diverse fields such as mental relaxation and aromatherapy. Furthermore, the development of ingestible CBD-based supplements to promote skin health is acquiring traction.
However, the high cost of CBD skin care products as compared to conventional beauty commodities deters a large segment of consumers from purchasing them, restraining the development of the market. Furthermore, compliance with the volatile legal regulations surrounding the cultivation and usage of CBD leads to uncertainty in product development & sale, hampering the market growth. For instance, the permissible amount of tetrahydrocannabinol (THC) in products in the U.S. is 0.3% whereas in the UK THC levels must be less than 0.2%. On the contrary, as the brands are striving to offer personalized products as per distinguished skin types and concerns of customers, the CBD skin care market is anticipated to witness several lucrative opportunities in the future.
Segment ReviewThe CBD skin care market is segmented into product type, form, distribution channel, and region. On the basis of product type, the market is divided into oils, lotion, and mask & serum. Depending on form, it is bifurcated into hemp and marijuana. As per distribution channel, it is classified into departmental stores, e-commerce, hypermarkets/supermarkets, retail pharmacies, and others. Region wise, it is analyzed across North America, Europe, Asia-Pacific, and LAMEA.
Key FindingsOn the basis of product type, the oils segment dominated the market in 2023.
Depending on form, the hemp segment acquired a high stake in the market in 2023.
As per distribution channel, the departmental stores segment held a high share in the market in 2023.
Region wise, North America was the highest revenue generator in 2023.
Competition AnalysisThe major players of the global CBD skin care market 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. These major players have adopted various key development strategies such as business expansion, new product launches, and partnerships to strengthen their foothold in the competitive market.
Key Market SegmentsBy Product TypeOils
Lotion
Mask Serum
By FormHemp
Marijuana
By Distribution ChannelDepartmental stores
e-commerce
hypermarkets/supermarkets
retail pharmacies
Others
By RegionNorth America
U.S.
Canada
Mexico
Europe
France
Germany
Italy
Spain
UK
Russia
Rest of Europe
Asia-Pacific
China
Japan
India
South Korea
Australia
Thailand
Malaysia
Indonesia
Rest of Asia-Pacific
LAMEA
Brazil
South Africa
Saudi Arabia
UAE
Argentina
Rest of LAMEA
Key Market PlayersKiehl’s LLC
Cannuka LLC
Leef Organics
Medical Marijuana Inc
Lord Jones
Kapu Maku LLC
VERTLYBALM
Elixinol Global Limited
Fab CBD Company
Endoca LLC