Global CBD Skin Care Market - 2022-2029

Global CBD Skin Care Market - 2022-2029

Market Overview

The global CBD skin care market was valued at USD XX million in 2021. It is forecasted to reach USD XX million by 2029, growing at a CAGR of XX% during the forecast period (2022-2029).

CBD (cannabidiol) is a non-psychoactive chemical derived from marijuana and hemp plants. CBD is extracted as a powder and is frequently blended with a variety of oils, such as olive, coconut, or hemp oil, to boost its efficiency in various applications. CBD oil products have a variety of benefits, including anti-inflammatory, antioxidant, and skin-soothing effects. CBD oil is a vital component in skincare and personal care products since it combines so many beneficial characteristics in one combination. Growing awareness of CBD-infused personal care products' benefits propels the market forward. North America's growing acceptance of CBD skincare products, aided by the legalization of cannabis cultivation, will likely propel the CBD skincare market forward over the forecast period.

Market Dynamics:

Increased adoption of products for CBD skin care acts as a demand catalyst

CBD skincare has antioxidant properties that primarily counteract the signs of aging in the geriatric population, enhancing the global CBD skincare market development. The growing demand for sheets and serums for facial masks will also drive the industry's growth. CBD-based cosmetics are very effective and safe for all skin types. Acne, dryness, irritation, and sensitive skin sufferers will find it extremely beneficial. CBD is utilized to aid the skin's natural healing process and reduce breakouts due to its anti-inflammatory properties. It also functions as an antioxidant, lowering early indications of age and the pain associated with inflammatory skin conditions.

Furthermore, CBD skincare items can cause skin elongation, tingling, and stripping, which will hamper the market. There is still a prohibition on CBD use in certain nations that will upset the CBD skincare market boom. In many countries, CBD is still an illegal market and faces slow growth in demand due to limited regional availability. These are some of the few factors that are hindering market growth.

Market Segmentation:

Hemp accounted for the highest share in global CBD skin care market

Due to hemp-based skincare products' high fatty acid content, they held the greatest share of XX percent in 2021. Hemp-infused skincare products soothe and rejuvenate dry and damaged skin, minimizing discomfort. They also aid in managing aging issues, which is anticipated to promote the use of this resource. Hempme Organic Face Cream, Origins hemp-based moisturizing face mask, and Kiehl's cannabis sativa seed oil are some of the hemp-based skincare products. According to the EU cosmetic ingredient database, hempseed oil can also be used as a surfactant, cleanser, emollient, and skin conditioner. Hemp molecules are extremely small, which helps them to penetrate the skin and produce efficient benefits. These characteristics are projected to lead to more hemp being used in skincare products, contributing to global market growth in the coming years.

CBD-based skincare oils dominated the market in 2021, with a share of XX percent. In the personal care sector, certain product categories are becoming increasingly popular. Its anti-inflammatory effects make it particularly effective for acne, aging, and wrinkle-prone skin. CBD oil has antioxidant properties that aid in reducing visible signs of aging.

Geographical Penetration:

North-America is the dominating region during the forecast period

In 2021, North America had the greatest market share of more than XX percent, and it is predicted to grow at the fastest rate during the forecast period. Because of the vast client base and the legalization of marijuana in the United States and Canada, demand for CBD skincare products in North America remains high. Approximately 33 states in the United States and the District of Columbia have legalized cannabis, making it the world's largest market. Over the next few years, legalization and the presence of renowned beauty care manufacturers are projected to contribute to market growth.

In the future years, Asia Pacific is predicted to increase significantly. Leading beauty expert countries such as China, India, Japan, and Korea are expected to provide market growth possibilities. Even though cannabis is mostly outlawed in Asia, Asian beauty movements such as J-beauty and K-beauty are the global skincare market leaders. As a result, this industry is predicted to rise rapidly in Asian countries.

Competitive Landscape:

The market has been characterized by high competition, and top consumer products companies have recognized the strong potential of the market. A portion of the influential organizations working in the worldwide market are Cannuka LLC, Elixinol Global Limited, Endoca LL and Leef Organics among others. Companies are increasingly focusing on product launches and distribution channel expansion to gain a significant presence among consumers. For example, Europe's first high-end CBD e-commerce site recently introduced high-end cannabis-based cosmetics and hygiene items on the European market.

COVID-19 Impact: Negative impact on the global CBD skin care market

COVID-19 is an unparalleled global public health emergency that has affected virtually every sector, so the long-term effects anticipated over the forecast period will impact the industry’s growth. The beauty and personal care industry has decreased because of the coronavirus pandemic, yet the effect is not profound as observed in different enterprises. The COVID-19 pandemic has had detrimental consequences on the CBD skincare market because of lower sales of personal care goods and increased customer choices for health, hygiene, and protection items. Consumers are more likely to spend money on products with a longer shelf life and are less likely to be contaminated. Furthermore, revenue losses from closed hypermarkets, supermarkets, and department stores have considerably impacted growth projections. As a result, businesses are focusing on increasing their online presence.

Why Purchase the Report?
• Understand the current market scenario and viability of global CBD skin care market over the forecast period
• Visualize the composition of the global CBD skin care market in terms of product type, source, distribution channel and region to identify major players, growth potential, and market strategies
• Identify the key regulations prevailing in the market and understand their impact on the market over the forecast period
• Understand the key business factors such as market competition, product pricing, new product developments, and patent filings pertaining in the market

What we offer?
• PDF report with the most relevant analysis cogently put together after exhaustive qualitative interviews and in-depth market study
• Excel data sheet with valuable data points of the global CBD skin care market– Regional and Country level segmentation
• Product mapping in excel for the key products of all major market players
• Market Share Analysis covering business revenues ($) and revenue share (%) of key market players

The global CBD skin care market report would provide an access to approximately 61 market data tables, 53 figures and 180 pages.

Target Audience:
• Beauty Products Manufacturers
• Essential Oils Manufacturers
• Import and Export Companies
• Industry Investors
• Education & Research Institutes
• Research Professionals