CBD Skin Care market's journey: From humble beginnings to soaring heights, its compound AG Rate promises an impressive future valuation.

NEWARK, DELAWARE, UNITED STATES OF AMERICA, October 4, 2023 /EINPresswire.com/ -- The CBD skin care market is estimated at US$ 3,327.9 million in 2023 and is projected to reach US$ 32,859.5 million by 2033.The coronavirus outbreak and subsequent lockdown measures have pushed consumers to focus their spending on essential commodities. Disruptions to raw material supplies have also impacted the market.

However, strong demand for CBD skin care products is helping in recovery of the industry, particularly through online distribution channels. As per newly released data by Future Market Insights (FMI), the CBD skin care market is anticipated to display a staggering 225.7% CAGR during the forecast period between the years 2023 and 2033. On the other hand, the market reflected a CAGR of ~21.1% from 2013 to 2021. The share of the CBD skin care market in its parent market (skin care market) is close to ~1%-2%.

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CBD Skincare Market- Critical Takeaways

CBD-infused serums and masks are witnessing high demand, owing to higher efficacy and easy application.

Hemp based skin care products are witnessing relatively higher demand than marijuana alternatives owing to high efficiency as emollients, surfactants, conditioner, and cleansers.

North America remains the leading market for CBD skincare products owing to widespread legalization efforts in Canada and the United States.

CBD Skincare Market- Drivers

Legalization of marijuana and cannabis based cosmetic products is a critical factor aiding market growth.

Niche application potential for psoriasis and acne issues, derived from anti-inflammatory characteristics drive create lucrative opportunities.

CBD Skincare Market- Restraints

Fluctuation in the prices of raw materials is a key challenge faced by CBD skincare product manufacturers.

Lack of legalization and lobbying for marijuana particularly in Asian countries restrains market growth.

Coronavirus Impact on CBD Skincare Market

With the coronavirus affecting countries around the globe, potential buyers for CBD skincare products are focusing their expenditure towards essentials. Further, the fear of recession has impacted investments into the CBD skincare market. In addition, CBD and hemp shipments have taken a hit. CBD skincare product manufacturers are focused on the optimization of global, national, and local supply chains to process shipments, while being in compliance with strict safety standards.

Key Players in the Market

Cannuka, LLC
CBD For Life
Earthly Body
Elixinol Global Limited
Endoca Company
Green Growth Brands
Herbivorebotanicals
IldiPekar Skin Care & Spa
Isodiol International Inc
Josie Maran Cosmetics
Kana Skincare
Kapu Maku LLC (POPULUM)
Kiehl's LLC
Kush Creams
Leef Organics
Leela Body Care Company
Lord Jones
Medical Marijuana Inc
Myaderm
Peter Thomas Roth
TESCosmetics
The CBD Skincare Company
VERTLYBALM

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Global CBD Skin Care Market by Category

By Product Type, Global CBD Skin Care Market is segmented as:

Creams
Moisturizers and Lotions
Balm
Serums
Face & Body Cleansers
Others

By Price Range, Global CBD Skin Care Market is segmented as:

Economic
Premium

By Packaging Type, Global CBD Skin Care Market is segmented as:

Pump
Tubes
Jar/ Bottles
Sticks
Others

By Source Type, Global CBD Skin Care Market is segmented as:

Natural & Organic
Synthetic

By Region, Global CBD Skin Care Market is segmented as:

North America
Latin America
Europe
South Asia
East Asia
Oceania
Middle East & Africa

Author by:

Sneha Varghese (Senior Consultant, Consumer Products & Goods) has 6+ years of experience in the market research and consulting industry. She has worked on 200+ research assignments pertaining to Consumer Retail Goods.

Her work is primarily focused on facilitating strategic decisions, planning and managing cross-functional business operations, technology projects, and driving successful implementations. She has helped create insightful, relevant analysis of Food & Beverage market reports and studies that include consumer market, retail, and manufacturer research perspective. She has also been involved in several bulletins in food magazines and journals.

Explore FMI’s Extensive Ongoing Coverage in the Consumer Product Domain:

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About Future Market Insights (FMI)

Future Market Insights, Inc. (ESOMAR certified, recipient of the Stevie Award, and a member of the Greater New York Chamber of Commerce) offers profound insights into the driving factors that are boosting demand in the market. FMI stands as the leading global provider of market intelligence, advisory services, consulting, and events for the Packaging, Food and Beverage, Consumer, Technology, Healthcare, Industrial, and Chemicals markets. With a vast team of over 5000 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.

Ankush Nikam
Future Market Insights, Inc.
+91 90966 84197
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