USD 733.16 billion
CBD Skin Care Market Size, Share, Growth Analysis, By Product(Oils, Creams & Moisturizers, Masks & Serums, Cleansers), By Distribution Channel(Department Stores, Hypermarkets/Supermarkets, E-commerce, Retail Pharmacies and Others), By Source(Hemp and Marijuana), By Region - Industry Forecast 2024-2031
Report ID:
SQMIG30L2175 |
Region:
Global |
Published Date: February, 2024
Pages:
157
|Tables:
91
|Figures:
76
CBD Skin Care Market Insights
CBD Skin Care Market size was valued at USD 733.16 billion in 2021 and is poised to grow from USD 964.1 billion in 2022 to USD 8620.41 billion by 2030, at a CAGR of 31.5% during the forecast period (2023-2030).
The advantages of CBD-infused personal care products have become increasingly popular, which is anticipated to increase demand over the forecasted period. As an instance, in November 2022, business partners Yann Moujawaz and Juana Martini launched Juana Skin, a CBD-based skincare line, in the United Arab Emirates. The growing demand for CBD skin care products in North America and the legalization of marijuana production are additional factors that are expected to help the business thrive over the course of the forecast period.
Due to the consumer movement towards ecologically friendly beauty and personal care products during the COVID-19 pandemic, CBD skin care products saw an increase in demand globally. According to a report released by Informa Pharma Intelligence in June 2020, the COVID-19 outbreak caused a 20% increase in sales of CBD-based skin care products year over year. Moreover, the pandemic caused consumers to store products, which altered consumer purchasing habits to favor e-commerce sites. Increasing skin issues including sensitivity, inflammatory diseases, acne, and dryness are expected to drive demand for skincare products made with natural ingredients and boost the attractiveness for CBD-based products.
Although these include natural ingredients, 20% of consumers may prefer creams made by cannabis seed extract in December 2021, including moisturizer, BB cream, and others, according to a National Center for Biotechnology Information article. The value of the industry also is increased by increasing government and private financing for focused research efforts, changing lifestyles, and increased product innovations and development as a result of advancements in global technology. It is anticipated that the industry growth will be further driven by the rising number of innovative product launches to meet the rising customer product demand.
US CBD Skin Care Market is poised to grow at a sustainable CAGR for the next forecast year.
Market Snapshot - 2024-2031
Global Market Size
Largest Segment
Hemp
Fastest Growth
Hemp
Growth Rate
31.5% CAGR
Global CBD Skin Care Market 2022-2030 ($ Bn)
Country Share for North America Region- 2022 (%)
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CBD Skin Care Market Segmental Analysis
Global CBD Skin Care Market is segmented based on product, distribution channel, source and region. Based on product, the market is segmented into oils, creams & moisturizers, masks & serums, cleansers, and others. Based on distribution channel the market is segmented into department stores, hypermarkets/supermarkets, E-commerce, retail pharmacies and others. Based on source the market is segmented into hemp and marijuana. Based on region the market is segmented into North America, Europe, Asia-Pacific, South America, and MEA.
CBD Skin Care Market Analysis by Product
The oils segment led the industry in 2022 and accounted for the highest share of more than 38.85% of total revenue due to the strong efficacy of CBD generated from hemp for treating several skin disorders, including dryness, aging, and acne. For instance, Amway launched its line of skincare products in September 2020, along with a CBD face oil. Also, the value of the industry increases as production techniques get more sophisticated. The use of hemp products has increased as a result of rising industrialization, an increase in technological advances aimed at cutting manufacturing costs and waste, and all of these causes taken together.
This has secured a lot of promise for the entire market. Over the forecast period, the segment for masks and serums is anticipated to grow at the fastest rate. These products are anticipated to capture a sizeable share of the global market due to the growing demand for face mask sheets and serums that have a deep penetrating effect and are simple to absorb into the skin. For instance, a start-up from the Czech Republic termed Moia Elixirs created a cannabidiol-infused nanofiber face mask in August 2020. It activates when it comes in touch with water and has a 97% absorption rate. Also, the development of the product after significant R&D would profit from an increase in technological advancements, that would further the segment's growth.
CBD Skin Care Market Analysis by Source
The hemp-based products category held the largest share of more than 63.50% in 2022 due to its high fatty acid content, which aids in reviving wrinkled skin, offers moisture-free radical protection, and helps promote cell function. By calming and revitalizing dry, damaged skin, hemp-infused cosmetics also aid in easing discomfort. For instance, Lotus launched its "Hemp Youth Glow" range of products in November 2022. The line is based on organic, cold-pressed hemp seed oil. Also, they assist in reducing issues related to aging, which will probably expand the use of this source in the coming years.
Global CBD Skin Care Market By Source 2022 (%)
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CBD Skin Care Market Regional Insights
North America held the largest share in 2022 (more than 40.0%). The demand for CBD skin care products from the North American region is predicted to keep rising due to the existence of a sizable clientele and the legalization of cannabis in the U.S. and Canada. According to a July 2021 Esquire article, about 33 US states and the District of Columbia will have legalized marijuana, making the US world's largest market. In addition, it is anticipated that the legalization of the business and the presence of famous producers will assist its expansion over the next few years.
The Asia-Pacific region is projected to experience the highest CAGR growth during the expected years. Over the next seven years, it is anticipated that leading countries with a focus on beauty, such as China, India, Japan, and South Korea, would offer chances for market expansion. Asian beauty movements like J-beauty and K-beauty are dominating the global market despite the fact that cannabis is largely illegal throughout Asia. This is driving competition to develop new products. For instance, in May 2019, MGC Pharmaceuticals launched its CBD-based skincare lines in China. The project aimed to expand the Asia Pacific region's market.
Global CBD Skin Care Market By Geography, 2022-2030
- Largest
- Fastest
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CBD Skin Care Market Dynamics
CBD Skin Care Market Drivers
Growing Consumer Awareness to Bolster Market Growth
- Consumers are becoming more aware of the benefits of CBD in skincare products, which include reducing inflammation, minimizing wrinkles, and hydrating the skin.
- With the legalization of cannabis and the increasing number of hemp-based CBD products available, it is becoming easier to access CBD-infused skincare products.
CBD Skin Care Market Restraints
Lack of Regulation to Hinder Market Growth
- The lack of regulation in the CBD market can lead to inconsistent product quality and safety concerns.
- CBD is still a relatively expensive ingredient, which can limit its availability and accessibility to some consumers.
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CBD Skin Care Market Competitive Landscape
The CBD skin care market is becoming increasingly competitive, with a growing number of companies entering the market. The competitive landscape of the CBD skin care market is also characterized by mergers and acquisitions, partnerships, and collaborations, as companies seek to expand their product portfolios and distribution networks. As the market continues to grow, it is likely that more companies will enter the market and competition will intensify.
CBD Skin Care Market Top Player’s Company Profiles
- Saint Jane Beauty
- The CBD Skincare Co.
- Josie Maran Cosmetics
- Lord Jones
- Leef Organics
- Herbivore Botanicals
- CBDistillery
- Medterra CBD
- Charlotte's Web
- Vertly
- Prima
- Kush Queen
- Plant People
- Vertly
- Veritas Farms
- CBDfx
- Shea Brand
CBD Skin Care Market Recent Developments
- In September 2021, In the most recent Belleza Y Salud event in Bogotá, Colombia, a substantial new skincare brand based on CBD oil called Kuida Colombia was presented.
- In April 2020, A cannabis Sativa seed oil herbal concentrate for troubled or blemish-prone skin was launched by Kiehl's.
CBD Skin Care Key Market Trends
- Rising demand for natural and organic products: Consumers are increasingly seeking out natural and organic beauty products, and CBD skin care products fit this trend perfectly, as CBD is a natural ingredient derived from hemp.
- Growing awareness of CBD's potential benefits: Consumers are becoming more aware of the potential benefits of CBD in skincare products, which include reducing inflammation, minimizing wrinkles, and hydrating the skin.
- Increasing use of technology and digital marketing: Companies are leveraging technology and digital marketing to reach consumers, with online sales and social media marketing becoming increasingly important channels for CBD skin care products.
CBD Skin Care Market SkyQuest Analysis
SkyQuest’s ABIRAW (Advanced Business Intelligence, Research & Analysis Wing) is our Business Information Services team that Collects, Collates, Co-relates and Analyses the Data collected by means of Primary Exploratory Research backed by the robust Secondary Desk research.
According to our analysis, we found that the CBD Skin Care market has the advantages that CBD-infused personal care products have become increasingly popular, which is anticipated to increase demand over the forecasted period. As an instance, in November 2022, business partners Yann Moujawaz and Juana Martini launched Juana Skin, a CBD-based skincare line, in the United Arab Emirates. The growing demand for CBD skin care products in North America and the legalization of marijuana production are additional factors that are expected to help the business thrive over the course of the forecast period. The lack of regulation in the CBD market can lead to inconsistent product quality and safety concerns. Consumers are increasingly seeking out natural and organic beauty products, and CBD skin care products fit this trend perfectly, as CBD is a natural ingredient derived from hemp. Companies are leveraging technology and digital marketing to reach consumers, with online sales and social media marketing becoming increasingly important channels for CBD skin care products.
| Report Metric | Details |
|---|---|
| Market size value in 2023 | USD 733.16 billion |
| Market size value in 2031 | USD 8620.41 billion |
| Growth Rate | 31.5% |
| Forecast period | 2024-2031 |
| Forecast Unit (Value) | USD Billion |
| Segments covered |
|
| Regions covered | North America (US, Canada), Europe (Germany, France, United Kingdom, Italy, Spain, Rest of Europe), Asia Pacific (China, India, Japan, Rest of Asia-Pacific), Latin America (Brazil, Rest of Latin America), Middle East & Africa (South Africa, GCC Countries, Rest of MEA) |
| Companies covered |
|
| Customization scope | Free report customization with purchase. Customization includes:-
|
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Table Of Content
Executive Summary
Market overview
- Exhibit: Executive Summary – Chart on Market Overview
- Exhibit: Executive Summary – Data Table on Market Overview
- Exhibit: Executive Summary – Chart on CBD Skin Care Market Characteristics
- Exhibit: Executive Summary – Chart on Market by Geography
- Exhibit: Executive Summary – Chart on Market Segmentation
- Exhibit: Executive Summary – Chart on Incremental Growth
- Exhibit: Executive Summary – Data Table on Incremental Growth
- Exhibit: Executive Summary – Chart on Vendor Market Positioning
Parent Market Analysis
Market overview
Market size
- Market Dynamics
- Exhibit: Impact analysis of DROC, 2021
- Drivers
- Opportunities
- Restraints
- Challenges
- Exhibit: Impact analysis of DROC, 2021
- SWOT Analysis
KEY MARKET INSIGHTS
- Technology Analysis
- (Exhibit: Data Table: Name of technology and details)
- Pricing Analysis
- (Exhibit: Data Table: Name of technology and pricing details)
- Supply Chain Analysis
- (Exhibit: Detailed Supply Chain Presentation)
- Value Chain Analysis
- (Exhibit: Detailed Value Chain Presentation)
- Ecosystem Of the Market
- Exhibit: Parent Market Ecosystem Market Analysis
- Exhibit: Market Characteristics of Parent Market
- IP Analysis
- (Exhibit: Data Table: Name of product/technology, patents filed, inventor/company name, acquiring firm)
- Trade Analysis
- (Exhibit: Data Table: Import and Export data details)
- Startup Analysis
- (Exhibit: Data Table: Emerging startups details)
- Raw Material Analysis
- (Exhibit: Data Table: Mapping of key raw materials)
- Innovation Matrix
- (Exhibit: Positioning Matrix: Mapping of new and existing technologies)
- Pipeline product Analysis
- (Exhibit: Data Table: Name of companies and pipeline products, regional mapping)
- Macroeconomic Indicators
COVID IMPACT
- Introduction
- Impact On Economy—scenario Assessment
- Exhibit: Data on GDP - Year-over-year growth 2016-2022 (%)
- Revised Market Size
- Exhibit: Data Table on CBD Skin Care Market size and forecast 2021-2027 ($ million)
- Impact Of COVID On Key Segments
- Exhibit: Data Table on Segment Market size and forecast 2021-2027 ($ million)
- COVID Strategies By Company
- Exhibit: Analysis on key strategies adopted by companies
MARKET DYNAMICS & OUTLOOK
- Market Dynamics
- Exhibit: Impact analysis of DROC, 2021
- Drivers
- Opportunities
- Restraints
- Challenges
- Exhibit: Impact analysis of DROC, 2021
- Regulatory Landscape
- Exhibit: Data Table on regulation from different region
- SWOT Analysis
- Porters Analysis
- Competitive rivalry
- Exhibit: Competitive rivalry Impact of key factors, 2021
- Threat of substitute products
- Exhibit: Threat of Substitute Products Impact of key factors, 2021
- Bargaining power of buyers
- Exhibit: buyers bargaining power Impact of key factors, 2021
- Threat of new entrants
- Exhibit: Threat of new entrants Impact of key factors, 2021
- Bargaining power of suppliers
- Exhibit: Threat of suppliers bargaining power Impact of key factors, 2021
- Competitive rivalry
- Skyquest special insights on future disruptions
- Political Impact
- Economic impact
- Social Impact
- Technical Impact
- Environmental Impact
- Legal Impact
Market Size by Region
- Chart on Market share by geography 2021-2027 (%)
- Data Table on Market share by geography 2021-2027(%)
- North America
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- USA
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Canada
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Europe
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- Germany
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Spain
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- France
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- UK
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of Europe
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Asia Pacific
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- China
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- India
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Japan
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- South Korea
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of Asia Pacific
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Latin America
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- Brazil
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of South America
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Middle East & Africa (MEA)
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- GCC Countries
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- South Africa
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of MEA
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
KEY COMPANY PROFILES
- Competitive Landscape
- Total number of companies covered
- Exhibit: companies covered in the report, 2021
- Top companies market positioning
- Exhibit: company positioning matrix, 2021
- Top companies market Share
- Exhibit: Pie chart analysis on company market share, 2021(%)
- Total number of companies covered
Methodology
For the CBD Skin Care Market, our research methodology involved a mixture of primary and secondary data sources. Key steps involved in the research process are listed below:
1. Information Procurement: This stage involved the procurement of Market data or related information via primary and secondary sources. The various secondary sources used included various company websites, annual reports, trade databases, and paid databases such as Hoover's, Bloomberg Business, Factiva, and Avention. Our team did 45 primary interactions Globally which included several stakeholders such as manufacturers, customers, key opinion leaders, etc. Overall, information procurement was one of the most extensive stages in our research process.
2. Information Analysis: This step involved triangulation of data through bottom-up and top-down approaches to estimate and validate the total size and future estimate of the CBD Skin Care Market.
3. Report Formulation: The final step entailed the placement of data points in appropriate Market spaces in an attempt to deduce viable conclusions.
4. Validation & Publishing: Validation is the most important step in the process. Validation & re-validation via an intricately designed process helped us finalize data points to be used for final calculations. The final Market estimates and forecasts were then aligned and sent to our panel of industry experts for validation of data. Once the validation was done the report was sent to our Quality Assurance team to ensure adherence to style guides, consistency & design.
Analyst Support
Customization Options
With the given market data, our dedicated team of analysts can offer you the following customization options are available for the CBD Skin Care Market:
Product Analysis: Product matrix, which offers a detailed comparison of the product portfolio of companies.
Regional Analysis: Further analysis of the CBD Skin Care Market for additional countries.
Competitive Analysis: Detailed analysis and profiling of additional Market players & comparative analysis of competitive products.
Go to Market Strategy: Find the high-growth channels to invest your marketing efforts and increase your customer base.
Innovation Mapping: Identify racial solutions and innovation, connected to deep ecosystems of innovators, start-ups, academics, and strategic partners.
Category Intelligence: Customized intelligence that is relevant to their supply Markets will enable them to make smarter sourcing decisions and improve their category management.
Public Company Transcript Analysis: To improve the investment performance by generating new alpha and making better-informed decisions.
Social Media Listening: To analyze the conversations and trends happening not just around your brand, but around your industry as a whole, and use those insights to make better Marketing decisions.
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