Global CBD Cosmetics Market - 2023-2030

Global CBD Cosmetics Market - 2023-2030

Global CBD Cosmetics Market reached US$ XX million in 2022 and is expected to reach US$ XX million by 2030, growing at a CAGR of XX% during the forecast period 2023-2030.

Cannabidiol (CBD) is a natural compound found in Cannabis sativa plants. It includes marijuana and hemp plants. There is an increased use of CBD in cosmetics. Cosmetics such as creams, lotions, balms, oils, face masks, and others can be produced by infusing CBD.

CBD does not carry a psychotropic effect, because of which it is used in cosmetics. It has antioxidant, hydrating, anti-sebum, and anti-aging properties.CBD cosmetics provide soothing properties.

Market Dynamics: Drivers & Restraints

Increasing demand and increasing investments in cosmetics

The growing awareness among individuals about the benefits of CBD cosmetics and increased consumer demand are expected to raise the market growth. Cannabidiol or CBD is the non-psychoactive cannabinoid from the cannabis or marijuana plant.

The increase in awareness among individuals on their appearance increased the investments in cosmetic products. For instance, according to the survey conducted by Advanced Dermatology, it is estimated that on average, Americans spend $722 on their appearance, including skin care, each year.

Additionally, the Cosmetics Europe Organization estimated that the cosmetics and personal care industry brings at least €29 billion in added value to the European economy annually. Thus, the above factors are expected to drive the market growth.

Restraint

The regulations associated with the use of CBD in cosmetics

The stringent regulations for the use of CBD in cosmetic products are expected to hinder market growth The use of CBD is still illegal in a few countries. For instance, the use of CBD in cosmetics in Europe is prohibited if it is derived from extracts, tinctures, or resins of the Cannabis Sativa plant as it may contain THC. Thus, it may hinder the market

Segment Analysis

The global CBD cosmetics market is segmented based on source, product, application, and region.

Hemp-Derived CBD segment accounted for 34.7% of the market share

The Hemp-derived CBD segment holds the dominant position in the market share. The benefits of hemp-derived CBD cosmetics over marijuana-derived cosmetics have been holding the segment in the dominant market share.

Hemp-derived CBD is mostly preferred due to the lower content of Tetrahydrocannabinol (THC). The increase in the production of cosmetic ingredients manufactured from hemp and the launches of the products also drive the segment growth.

In August 2022, INOLEX launched ProCondition Sativa (Cannabisamidopropyl Dimethylamine) a new sustainable conditioning hemp-based ingredient derived from Cannabis Sativa Seed Oil.

Additionally, BASF has introduced ComfortBD to the U.S. market, a natural CBD-based ingredient derived from industrial hemp grown on farms in the United States that intend to seek certification for their organic growing practices. Thus, the above factors hold the segment in the dominant position.

Geographical Analysis

North America is expected to hold a significant position in the global CBD cosmetics market share

North America is expected to hold the dominant position in the market share. The increase in awareness among customers of the appearance and the increase in knowledge about CBD cosmetics in individuals is expected to hold the region in the dominant position in the market share. The presence of a large number of cosmetic manufacturers increases the market share of the region.

The increasing number of product launches is also expected to drive market growth. For instance, in October 2021, Wellfounded Botanicals launched a luxury CBD Eau de Parfum in partnership with Scent Beauty, Inc. and exclusively licensed brands.

Additionally, on December 3, 2023, Respect Wellness introduced a 'Smooth,' facial balm that provides a transformative skincare experience for women navigating the complexities of hormonal changes and aging. 'Smooth' stands out as an exceptional skincare product, combining organic full-spectrum CBD. Thus, the above factors are expected to drive the market growth in the region.

COVID-19 Impact Analysis

COVID-19 has had a moderate impact on the growth of the CBD cosmetic market. The imposition of the lockdown has disrupted the supply chains across the borders and the market has experienced a decline in the growth. Many industries other than the hospitals and pharmaceutical companies have been closed due to the lockdown. Thus, the market’s growth has been declined due to COVID-19.

Market Segmentation

By Source
• Marijuana Derived CBD
• Hemp-Derived CBD

By Product
• Face Creams
• Serum
• Lotions
• Balms
• Facial Oils
• Eye Cream
• others

By Distribution Channel
• Hypermarkets/Supermarkets
• Multi-brand stores
• Drug/ Pharmaceuticals Stores
• Online Retail
• Convenience Stores
• Others

By Region
• North America
U.S.
Canada
Mexico
• Europe
Germany
UK
France
Italy
Spain
Rest of Europe
• South America
Brazil
Argentina
Rest of South America
• Asia-Pacific
China
India
Japan
Australia
Rest of Asia-Pacific
• Middle East and Africa

Competitive Landscape

The leading companies with a significant market share include Swiss Organic Partners AG, Genie Supply, Lamacoppa Leaf Sciences s.r.l., Xyfil Ltd, JM Wholesale Ltd., Essentia Pura d.o.o., RainShadow Labs, PhytoPur Bio, Lady Burd, and Isodiol International Inc. among others.

Key Developments
• In December 2021, Avicanna Inc. launched and commercialized its proprietary and clinically backed derma-cosmetics brand, Pura H&W, through its exclusive partnership with Red White and Bloom.

Why Purchase the Report?
• To visualize the global CBD cosmetics market segmentation based on source, product, distribution channel, and region as well as understand key commercial assets and players.
• Identify commercial opportunities by analyzing trends and co-development.
• Excel data sheet with numerous data points of CBD cosmetics market-level with all segments.
• PDF report consists of a comprehensive analysis after exhaustive qualitative interviews and an in-depth study.
• Product mapping available as excel consisting of key products of all the major players.

The global CBD cosmetics market report would provide approximately 61 tables, 63 figures, and 182 Pages.

Target Audience 2023
• Manufacturers/ Buyers
• Industry Investors/Investment Bankers
• Research Professionals
• Emerging Companies