The latest report by IMARC Group, titled “CBD Skin Care Market Report by Product Type (Oils, Lotion and Creams, Masks and Serums, Bath and Soaps, and Others), Source (Hemp, Marijuana), Price Range (Economic, Premium), Distribution Channel (Hypermarkets and Supermarkets, Departmental Stores, Online Stores, Retail Pharmacies, and Others), and Region 2024-2032”, offers a comprehensive analysis of the industry, which comprises insights on the market. The global CBD skin care market size reached US$ 1.6 Billion in 2023. Looking forward, IMARC Group expects the market to reach US$ 7.4 Billion by 2032, exhibiting a growth rate (CAGR) of 18.33% during 2024-2032.
Factors Affecting the Growth of the Global CBD Skin Care Industry:
- Increasing Consumer Awareness and Acceptance of CBD:
Consumer awareness and acceptance of cannabidiol (CBD) have significantly increased in recent years, driven by widespread information dissemination and changing perceptions regarding its benefits. Many consumers now understand the potential therapeutic properties of CBD, including its anti-inflammatory and antioxidant effects, which make it a desirable ingredient in skincare products. Educational campaigns, social media, and endorsements by celebrities and influencers have further normalized CBD use, making it a trendy and sought-after component. As people seek natural and holistic alternatives to traditional skincare products, CBD’s reputation as a safe and effective option has bolstered its popularity. The growing body of research supporting CBD’s efficacy in addressing skin issues like acne, eczema, and psoriasis has also played a crucial role in driving market demand, encouraging consumers to incorporate CBD-infused products into their daily skincare routines.
- Regulatory Developments:
The global legalization and regulatory evolution surrounding CBD have been pivotal in expanding the CBD skincare market. In many countries, legislative changes have decriminalized CBD, distinguishing it from psychoactive cannabis components such as THC. This has opened up new markets and allowed for broader distribution channels, both online and in physical retail spaces. In the United States, for example, the 2018 Farm Bill legalized hemp-derived CBD at the federal level, leading to an explosion of CBD products in the market. Regulatory clarity has instilled confidence in manufacturers, investors, and consumers, ensuring product safety and consistency. Furthermore, as more countries and states adopt CBD-friendly policies, multinational cosmetic companies can innovate and market CBD-infused skincare products more freely, fostering a competitive landscape that encourages quality and variety.
- Rising Demand for Organic Products:
The increasing consumer demand for natural and organic skincare products is a major factor driving the CBD skincare market. Nowadays consumers are more health-conscious and environmentally aware, preferring products with natural ingredients that promise fewer side effects and reduced environmental impact. CBD fits well within this trend, as it is derived from the cannabis plant and can be incorporated into formulations with other organic ingredients. Brands are capitalizing on this by marketing CBD skincare products as clean, green, and beneficial for the skin. This shift towards natural beauty is also reflected in the rise of ‘clean beauty’ movements and the rejection of synthetic chemicals and artificial additives in personal care items.
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Competitive Landscape:
The competitive landscape of the market has been studied in the report with detailed profiles of the key players operating in the market.
- Aurora Cannabis Inc.
- Cannuka LLC
- Canopy Growth Corporation
- Curaleaf Holdings Inc.
- Dixie Brands Inc.
- Earthly Body
- Elixinol Wellness Limited
- High Tide Inc.
- Kapu Maku LLC (Populum)
- Kiehl’s LLC (L’Oréal S.A.)
- Lord Jones
- Medical Marijuana Inc.
- Myaderm
CBD Skin Care Market Report Segmentation:
By Product Type:
- Oils
- Lotion and Creams
- Masks and Serums
- Bath and Soaps
- Others
Oils hold the largest market share as they are are known for their superior absorption and potency compared to other forms of CBD skin care products.
By Source:
- Hemp
- Marijuana
Hemp dominates the market as it is recognized for its extensive therapeutic properties, including anti-inflammatory, antioxidant, and anti-aging benefits
By Price Range:
- Economic
- Premium
On the basis of the price range, the market has been segmented into economic and premium.
By Distribution Channel:
- Hypermarkets and Supermarkets
- Departmental Stores
- Online Stores
- Retail Pharmacies
- Others
Based on the distribution channel, the market has been divided into hypermarkets and supermarkets, departmental stores, online stores, retail pharmacies, and others.
Regional Insights:
- North America (United States, Canada)
- Asia Pacific (China, Japan, India, South Korea, Australia, Indonesia, Others)
- Europe (Germany, France, United Kingdom, Italy, Spain, Russia, Others)
- Latin America (Brazil, Mexico, Others)
- Middle East and Africa
Asia Pacific’s dominance in the CBD skin care market is attributed to increasing awareness and preference for natural and organic skincare solutions.
Global CBD Skin Care Market Trends:
The rise of e-commerce platforms is significantly boosting the market, providing consumers with easy access to a diverse range of CBD skincare products. Sustainability and eco-consciousness are also prominent trends, with consumers preferring brands that emphasize ethical sourcing, cruelty-free testing, and environmentally friendly packaging. As these trends continue to evolve, the global CBD skin care market is poised for sustained growth and innovation. Besides, key players in the market are leveraging strategic partnerships and collaborations to expand their product portfolios and enhance market reach. This includes alliances with dermatologists, celebrities, and influencers to build credibility and consumer trust.
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