Report ID: SQMIG30L2175
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 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.
CBD Skin Care Market Report Snapshots
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