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CBD Skincare Products Market Size to Grow Substantially at 29.1% CAGR from 2021 to 2028 - Report by Market Research Future (MRFR)

CBD Skincare Products Market Insights and Industry Analysis by Product Type (Moisturizers & Creams, Oils, Serums, Cleansers, Others), Category (Organic, Conventional) and Distribution Channel (Store-Based, Non-Store-Based), Competitive Market Size, Share, Trends, and Forecast to 2028

New York, US, Aug. 24, 2021 (GLOBE NEWSWIRE) -- CBD Skincare Products Market Overview

According to a comprehensive research report by Market Research Future (MRFR), “CBD Skincare Products Market Information by Product Type, Category, Distribution Channel and Region - Forecast till 2028”, the market is projected to Grow at a 29.1% CAGR from 2021 to 2028.

Major Growth Boosters

CBD is highly effective and safe for use on every skin type; however, its use is extremely high among those struggling with inflammatory conditions, sensitivity, dryness, and acne. In view of these appealing inflammatory properties, CBD is utilized for fostering skin’s natural healing process, reducing the life span of eczema flare-ups as well as breakouts. Apart from this, it contains a host of antioxidant properties that curb signs of aging while also bringing down pain due to inflammatory skin conditions.

Alarming surge in pollution levels as well as extreme UV rays that cause skin burn and blackening and sometimes even skin cancer prompts consumers to purchase proven effective beauty and skincare products infused with CBD. Increasing knowledge about the latest products that cater to a particular skin issue also enhance the sales in the market. Companies are progressively joining hands with celebrities to endorse their products, while spending considerably on advertisements to garner the consumers’ attention.

Social media platforms are quite popular in today’s world, with YouTube and Instagram deemed as major influencers. These platforms help consumers grow aware about the different CBD skincare products available in the global industry. Simply put, the soaring awareness levels among consumers regarding the benefits as well as the availability of the latest products should benefit the global market in the years ahead.

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Competitive Landscape

The global market is inundated with several well-known firms, such as

  • Kiehl’s
  • Cannuka LLC
  • Elixinol Global ltd
  • Medical Marijuana
  • Lord Jones
  • The CBD Skincare Co
  • LEEF Organics
  • Josie Maran Cosmetics
  • CBD for life
  • Kana Skincare
  • Apothecana
  • Pacific Roots LLC
  • Ecogen labs
  • Nordic oil
  • Sativa

The key objective of enhancing their consumer base worldwide compels the companies to employ competitive strategies such as acquisitions, product launches, and partnerships. To cite a reference, in July 2021, empyri, a well-known Canada-based cannabis wellness firm made an addition to its green, clean, and cannabis-infused line of skincare line with the new holistic hydration daily moisturizer made of hydrolyzed cannabis sativa seed extract. The skin cream is clinically proven to heal dry skin, improve elasticity, and smooth wrinkles, and also contains natural active ingredients like Aquaxyl as well as hyaluronic acid. These two ingredients blended with the cannabis-infused moisturizer offers all-day hydration as well as protection from external damage.

Browse In-depth Market Research Report (90 Pages) on CBD Skincare Products:

Market Restraints

Side effects such as itching, skin peeling, and swelling can sometimes occur with the use of certain CBD products, which triggers the reluctance among consumers to opt for them. This may result in weakened market demand in the next couple of years.

COVID 19 Analysis

The demand for CBD skincare products witnessed a sharp drop with the COVID 19 pandemic impacting the economic standards worldwide. The global market, post-pandemic has also seen a change in the customers’ behavior, tastes and preferences, given that the demand for essential products is much higher than non-essential items.

However, with skincare and beauty brands increasingly emphasizing on strengthening their supply chains, distribution channels and improving the quality of their products, the market could cover substantial grounds in the future. Even the eCommerce sector has emerged as a remarkable solution in these uncertain times, as online shopping gains prevalence among consumers.

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Market Segmentation

Product type, category, and distribution channel are the key segments outlined in the report, in a bid to extensively detail the global market for CBD skincare products.

Different product types available in the global industry are oils, cleansers, moisturizers & creams, serums, and more. CBD infused moisturizers & creams form the biggest segment as these are widely by consumers on a daily basis, for skin hydration.

The categories covered in the MRFR study are organic as well as conventional. The demand for organic products has been mounting rapidly in the market and therefore, the segment can capture a higher CAGR compared to its counterpart in the years ahead. Preference for natural skincare products is especially high in Europe and North America.

Distribution channels that sell CBD skincare products are store-based {Specialty Stores, Supermarkets & Hypermarkets, Convenience Stores, and more} along with non-store based.

Regional Analysis

The CBD skincare products industry has been considered for Asia Pacific/APAC, North America, Europe and also RoW/rest of the world.

North America has managed to procure the top position in the global market for CBD skincare products, especially since cannabis’s legalization across 33 US states in the year 2018. Robust demand for these skincare products, combined with the extensive pool of established firms in the US adds to the regional market’s strength. CBD skin care products enjoy massive demand among a huge customer base in the region, while marijuana’s legalization in various states across Canada and the U.S. foster the sales as well. Encouraged by the legalization as well as the strong presence of renowned beauty care brands in the region, the CBD skincare products market is touted to cover substantial grounds in the coming years.

Asia Pacific is a relatively new market and has been picking up steam in the past few years, as a high number of skincare products brands are rapidly emerging in Japan, China, Japan, and several South-East Asian nations. Continuous debates pertaining to easing the regulations for cannabis across multiple countries could ensure brighter prospects for the CBD skincare products industry in the region. Unhealthy dietary habits, air pollution and constant exposure to sun light as well as stress are some of the most common causes of bad skin conditions in the region. As a result, leading brands in the region are increasingly targeting these concerns and launching CBD infused skincare products that effectively counter these issues.

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Market Research Future (MRFR) is a global market research company that takes pride in its services, offering a complete and accurate analysis with regard to diverse markets and consumers worldwide. Market Research Future has the distinguished objective of providing the optimal quality research and granular research to clients. Our market research studies by products, services, technologies, applications, end users, and market players for global, regional, and country level market segments, enable our clients to see more, know more, and do more, which help answer your most important questions.

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