Global CBD Skin Care Market

Global CBD Skin Care Market Size, Share, Growth Analysis, By Product(Oils, Creams & Moisturizers), By Distribution Channel(Department Stores, Hypermarkets/Supermarkets), By Source(Hemp and Marijuana) - Industry Forecast 2024-2031

Report ID: SQMIG30L2175 | Region: Global | Published Date: February, 2024
Pages: 157 | Tables: 91 | Figures: 76

Global 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 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 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 For Life', 'Cannuka', 'Kiehl's', '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'

Consumers are becoming more aware of the benefits of CBD in skincare products, which include reducing inflammation, minimizing wrinkles, and hydrating the skin.

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.

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.

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