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

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.