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 CBD skin care market report.
CBD Skin Care Market Demand (2024-2032)
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.
Leading Companies in the CBD Skin Care 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
Factors Affecting the Growth of the CBD Skin Care Industry:
- Increasing consumer awareness and acceptance:
One of the primary drivers of the CBD skincare market is the increasing awareness and acceptance of CBD (cannabidiol) as a skincare ingredient. CBD, derived from the cannabis plant, has gained traction in recent years due to its purported therapeutic properties, including anti-inflammatory, antioxidant, and moisturizing effects. As consumers become more educated about the potential benefits of CBD in skincare products, they are increasingly seeking out products that contain this ingredient. Moreover, the stigma surrounding cannabis-related products has diminished in many regions, leading to greater acceptance and adoption of CBD-infused skincare products by a broader demographic, which is contributing to the market growth.
- Growing demand for natural and organic products:
Another key factor fueling the growth of the CBD skincare market is the rising demand for natural and organic skincare products. With a growing emphasis on health and wellness, consumers are increasingly seeking products made from natural ingredients that are perceived to be safer and more environmentally friendly. CBD fits into this trend perfectly, as it is often marketed as a natural, plant-based ingredient with various potential skincare benefits. Additionally, as consumers become more conscious of the ingredients in their skincare products and their potential impacts on health and the environment, they are turning away from synthetic and chemical-laden formulations in favor of more natural alternatives, further driving the demand for CBD skincare products.
- Expanding legalization and regulatory support:
The legalization of cannabis and the loosening of regulations surrounding CBD products in many regions have played a significant role in driving the growth of the CBD skincare market. As more countries and states legalize cannabis for medical and/or recreational use, the market for CBD products, including skincare, has expanded dramatically. Moreover, regulatory bodies in some regions have begun to provide clearer guidelines and regulations regarding the production, labeling, and sale of CBD products, providing greater clarity and confidence to consumers and businesses operating in this space. This regulatory support has helped to legitimize the CBD skincare market, attracting more players and investment and contributing to its overall growth trajectory.
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CBD Skin Care Market Report Segmentation:
By Product Type:
- Oils
- Lotion and Creams
- Masks and Serums
- Bath and Soaps
- Others
Based on the product type, the market is segmented into oils, lotions and creams, masks and serums, bath and soaps, and others.
By Source:
- Hemp
- Marijuana
On the basis of source, the market has been categorized into hemp and marijuana.
By Price Range:
- Economic
- Premium
Based on the price range, the market is divided into economic and premium.
By Distribution Channel:
- Hypermarkets and Supermarkets
- Departmental Stores
- Online Stores
- Retail Pharmacies
- Others
On the basis of 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
Based on the region, the market is segregated into North America (the United States and Canada); Asia Pacific (China, Japan, India, South Korea, Australia, Indonesia, and others); Europe (Germany, France, the United Kingdom, Italy, Spain, Russia, and others); Latin America (Brazil, Mexico, and others); and Middle East and Africa.
Global CBD Skin Care Market Trends:
The emergence of innovative formulations and product offerings, such as CBD-infused serums, masks, and lip balms, catering to diverse skincare needs is providing an impetus to the market growth. In confluence with this, the integration of CBD into mainstream beauty brands and distribution channels is expanding accessibility, creating a positive outlook for market expansion. Moreover, the burgeoning interest in personalized skincare routines, with consumers seeking tailor-made solutions to address specific skin concerns is acting as another significant growth-inducing factor. Furthermore, the increasing popularity of multi-functional skincare products, with consumers seeking efficient solutions that offer multiple benefits in one product, is propelling the market forward.
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