CBD Skin Care Market

Global CBD Skin Care Market Size (2023 to 2028)

The global CBD skin care market size is estimated to be worth USD 1723 Million by 2028 from USD 414.02 million in 2023 and is foreseen to garner a CAGR of about 33% from 2023 to 2028.

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). CBD may be efficient in relieving anxiety, chronic inflammation and pain, insomnia, and some rare types of childhood epilepsy. In addition, 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.

MARKET DRIVERS:

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 skincare market development. The growing demand for sheets and serums for facial masks will also drive the industry's growth. The producer is also motivated by an increased understanding of the product's therapeutic value; this is another factor that boosts this market development. R&D investment and demand for skincare products are amplifying the market's growth. 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 skincare 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 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.

MARKET RESTRAINTS:

CBD skincare items can cause skin elongation, tingling, and stripping, hampering the market. In certain nations, a prohibition on CBD use will still upset the CBD skin care market boom. In many countries, CBD is still an illegal market and 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 skincare 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' significant 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: directly impacting production and demand, developing a supply chain and disrupting the market, and its economic 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, and the BPC market has seen a buyer social move towards protected and dependable items. Items with a lower danger of tainting due to technological 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 and offering at-home health items that perfectly fit this unpredictable business climate.

REPORT COVERAGE:

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:

• Oils             
• Creams and Moisturizers  
• Masks and Serums              
• Cleansers 

CBD skincare oils drove the worldwide market and represented a portion of 40.9% in 2022. The sale of these items is constantly increasing in the personal care market. It is ordinarily helpful for skin inflammation, maturing, and wrinkle-inclined skin conditions because of its medicinal properties. CBD oil likewise has cancer prevention properties that help diminish the apparent 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 further increase sales in the worldwide market. 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        
• Marijuana

Hemp-based skincare items held the most significant portion of 62.8% in 2022 because of the high unsaturated fat substance of the item. Hemp-imbued skincare items help decrease distress by calming and reviving dry and harmed skin. They also help control maturing issues, which will probably drive this source's use. 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, presenting its hemp scope of items to the market. As indicated by the EU restorative fixing information base, hempseed oil becomes a surfactant, chemical, emollient, and skin conditioner specialist. Hemp atoms are the exact moment that further permits it to infiltrate the skin and give powerful outcomes. These characteristics should 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:

• North America
• Europe
• Asia Pacific
• Latin America
• The Middle East and Africa

The North American CBD Skin Care market held the most significant portion of over 40.0% in 2022 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 vast client base and weed sanction 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 massive 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, Asian nations are supposed to observe fast growth in this market.

KEY MARKET PLAYERS AND SHARE INSIGHTS:

The CBD skincare market is competitive. Some influential organizations worldwide are Kiehl's LLC, Cannuka LLC., Elixinol Global Limited, Medical Marijuana Inc., Endoca LL, Lord Jones, VERTLYBALM; Kapu Maku LLC; and Leef Organics. In addition, organizations are progressively zeroing in on item dispatches and extension of the circulation channel to increase an unmistakable perceivability among them.