The global CBD skin care market size is estimated to worth USD 1295.7 Million by 2026 and USD 311.3 million in 2021 and is foreseen to garner a CAGR of about 33% from 2021 to 2026.
CBD, also known as Cannabidiol. CBD is a naturally occurring chemical substance found in cannabis plants (e.g., marijuana and hemp). It is one of the two primary active ingredients of cannabis, the other being THCC (tetrahydrocannabinol). Research shows that in relieving anxiety, chronic inflammation and pain, insomnia, and some rare types of childhood epilepsy, CBD may be efficient. A long-term study published in the Alzheimer's Disease Journal showed that CBD could help reduce cognitive decline. Furthermore, according to a study published in the Neurotherapeutics journal, CBD may also be effective in treating drug use disorders. CBD, also known as cannabidiol, is applied to soaps, serums, creams, and other skincare products for its purported health benefits.
Increased adoption of products for CBD skincare acts as a demand catalyst.
CBD skin care has antioxidant properties that primarily counteract the signs of aging in the geriatric population, enhancing the global CBD skin care market development. The growing demand for sheet and serums for facial masks will also drive the growth of the industry. The producer is also motivated by an increased understanding of the therapeutic value of the product; this is another factor that boosts this market development. R&D investment and demand for skincare products are amplifying the growth of the market. In the years to come, the increased demand for CBD products in Australia would put the CBD skincare market in the nation on a growth trajectory.
Furthermore, the global CBD skin care market is significantly driven by the developing awareness regarding the advantages of CBD based products. Even though CBD is found in the pot plant, it is both non-psychoactive and legitimate to purchase in its confined structure. Ordinarily, cannabidiol investigations have indicated that it has remedial advantages when applied to the skin. The growing reception of CBD skincare items in North America, upheld by the legitimization of cannabis development, is expected to expand the growth of the CBD skin care market during the gauge time frame. The property to treat the illness of this plant appeals to manufacturers to create items implanted considering the many advantages of CBD. For example, Sephora had dispatched an exceptional segment exclusively belonging to CBD skincare items in its stores.
CBD skincare items can cause skin elongation, tingling, and stripping, which will hamper the market. In certain nations, there is still prohibition on CBD use that will upset the CBD skin care market boom. In many countries, CBD is still an illegal market and hence continues to face slow growth in demand due to limited regional availability. Also, governments' complex rules and regulatory structures related to the use of CBD are expected to hamper the demand for the global CBD skin care market.
Impact of COVID-19 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. Our ongoing research amplifies our research process to ensure that the fundamental COVID-19 issues and key factors forward should be included. It offers insights into COVID-19, considering changes in customer behavior and demand, purchase habits, supply chain re-routing, current market dynamics, and governments' major interventions. The revised report offers perspectives, research, projections, and predictions, taking into account the market effect of COVID-19. The global effects of the 2019 coronavirus disease (COVID-19) are already beginning to appear and will significantly impact the 2020 demand for CBD Skin Care Products. The global economy can be affected by COVID-19 in three main ways: by directly impacting production and demand, by developing a supply chain and disrupting the market, and by its financial effect on businesses and financial markets.
The Beauty and Personal Care (BPC) industry has decreased because of the coronavirus pandemic, yet the effect isn't as profound as observed in different enterprises. Additionally, optional spending has diminished, the BPC market has seen a buyer social move towards protected and dependable items. Items that have a lower danger of tainting due to technology advances and longer time spans of usability help the customer supplies. Brands are entirely focussing on improving their flexibility lines regarding providing a solution for their E-trade channel alongside offering at-home health items, which perfectly fit in this unpredictable business climate.
Market Size Available
2020 to 2026
2021 to 2026
By Type, Source, and Region
Various Analyses Covered
Global, Regional & Country Level Analysis, Segment-Level Analysis, Drivers, Restraints, Opportunities, Challenges, PESTLE Analysis, Porter’s Five Forces Analysis, Competitive Landscape, Analyst Overview on Investment Opportunities, COVID-19 impact Analysis
North America, Europe, APAC, Latin America, Middle East & Africa
This market research report on the global CBD Skin Care market has been segmented and sub-segmented into the following categories:
CBD Skin Care Market - By Type:
CBD skincare oils drove the worldwide market and represented a portion of 40.9% in 2020. The sale of these items is constantly increasing in the personal care market. It is ordinarily useful for skin inflammation, maturing, and wrinkle inclined skin conditions because of its medicinal properties. CBD oil likewise has cancer prevention properties that help in diminishing the obvious indications of aging. Masks and serums are foreseen to grow at the most noteworthy CAGR of 33.7% over the anticipated time frame. The CBD injected masks and serums are likely to increase the sales in the worldwide market further. This situation is ascribed to expanding interest in facial masks and serums that infiltrate somewhere down in the skin and are anything but difficult to apply.
CBD Skin Care Market - By Source:
Hemp-based skincare items held the most significant portion of 62.8% in 2020 because of the high unsaturated fat substance of the item. Hemp imbued skincare items help in decreasing the distress by calming and reviving dry and harmed skin. They also help control maturing issues, which is probably going to drive the use of this source. A portion of the hemp-based skincare items incorporates Hempme Organic Face Cream, Origins hemp-based hydrating face veil, and Kiehl's cannabis Sativa seed oil. Hempseed oil gives exceptionally smooth saturating properties to the skin. The Body Shop was one of the leading significant re-emerging players to perceive this, accordingly, presenting its hemp scope of items to the market. As indicated by the EU restorative fixing information base, hempseed oil likewise goes about as a surfactant, chemical, emollient, and skin conditioner specialist. Hemp atoms are the exact moment, which further permits it to infiltrate the skin and give powerful outcomes. These characteristics are supposed to bring about the expanding use of hemp in skincare items, adding to the worldwide market development in the following years.
CBD Skin Care Market - By Region:
Geographically, the North American CBD Skin Care market held the most significant portion of over 40.0% in 2020 globally and is estimated to be the quickest developing market in the gauge time frame. Interest in CBD skincare items from North America is relied upon to stay high because of the presence of a huge client base and sanctioning of weed in the US and Canada. Around 33 states in the U.S. have legitimized cannabis, consequently making it the most significant market on the planet. The sanctioning and presence of unmistakable magnificence care makers are relied upon to add to the market development throughout the following barely any years.
The Asia Pacific CBD Skin Care Market is supposed to observe huge development in the coming years. Unmistakable excellence master nations, for example, China, India, Japan, and Korea, are foreseen to offer likely open doors for market growth. Although cannabis is generally unlawful across Asia, Asian magnificence developments, for example, J-excellence and K-magnificence, are the heads of the worldwide skincare market. Hence, the Asian nations are supposed to observe fast growth in this market.
KEY MARKET PLAYERS AND SHARE INSIGHTS:
The CBD skincare market is competitive. A portion of the significant organizations working in the worldwide market is Kiehl's LLC, Cannuka LLC., Elixinol Global Limited, Medical Marijuana Inc., Endoca LL, Lord Jones, VERTLYBALM; Kapu Maku LLC; and Leef Organics. Organizations are progressively zeroing in on item dispatches and extension of the circulation channel to increase an unmistakable perceivability among them.
1.1 Market Definition
1.2 Scope of the report
1.3 Study Assumptions
1.4 Base Currency, Base Year and Forecast Periods
2. Research Methodology
2.1 Analysis Design
2.2 Research Phases
2.2.1 Secondary Research
2.2.2 Primary Research
2.2.3 Data Modelling
2.2.4 Expert Validation
2.3 Study Timeline
3. Report Overview
3.1 Executive Summary
3.2 Key Inferencees
4. Market Dynamics
4.1 Impact Analysis
4.2 Regulatory Environment
4.3 Technology Timeline & Recent Trends
5. Competitor Benchmarking Analysis
5.1 Key Player Benchmarking
5.1.1 Market share analysis
5.1.3 Regional Presence
5.2 Mergers & Acquistion Landscape
5.3 Joint Ventures & Collaborations
6. Market Segmentation
6.1 CBD Skin Care Market, By Type
6.1.2 Creams and Moisturizers
6.1.3 Masks and Serums
6.1.5 Market Size Estimations & Forecasts (2019-2024)
6.1.6 Y-o-Y Growth Rate Analysis
6.1.7 Market Attractiveness Index
6.2 CBD Skin Care Market, By Source
6.2.3 Market Size Estimations & Forecasts (2019-2024)
6.2.4 Y-o-Y Growth Rate Analysis
6.2.5 Market Attractiveness Index
7. Geographical Landscape
7.1 Global Identity Governance and Administration Market, by Region
7.2 North America - Market Analysis (2018 - 2024)
7.2.1 By Country
7.2.2 By Type
7.2.3 By Source
7.3.1 By Country
22.214.171.124 Rest of Europe
7.3.2 By Type
7.3.3 By Source
7.4 Asia Pacific
7.4.1 By Country
126.96.36.199 South Korea
188.8.131.52 South East Asia
184.108.40.206 Australia & NZ
220.127.116.11 Rest of Asia-Pacific
7.4.2 By Type
7.4.3 By Source
7.5 Latin America
7.5.1 By Country
18.104.22.168 Rest of Latin America
7.5.2 By Type
7.5.3 By Source
7.6 Middle East and Africa
7.6.1 By Country
22.214.171.124 Middle East
7.6.2 By Type
7.6.3 By Source
8. Key Player Analysis
8.1 Kiehl's LLC
8.1.1 Business Description
8.1.4 SWOT Analysis
8.1.5 Recent Developments
8.1.6 Analyst Overview
8.2 Cannuka LLC
8.3 Elixinol Global Limited
8.4 Medical Marijuana Inc.
8.5 Endoca LLC
8.6 Lord Jones
8.8 Kapu Maku LLC
8.9 Leef Organics
9. Market Outlook & Investment Opportunities
List of Tables
List of Figures