CBD Skin Care Market Updates

Global CBD Skin Care Market size was valued at USD 1.45 billion in 2023 and is poised to grow from USD 1.91 billion in 2024 to USD 17.05 billion by 2032, growing at a CAGR of 31.5% during the forecast period (2025-2032).

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. 'Charlotte's Web Holdings, Inc. (USA) ', 'Elixinol Wellness Limited (Australia) ', 'Medical Marijuana, Inc. (USA) ', 'CV Sciences, Inc. (USA) ', 'Canopy Growth Corporation (Canada) ', 'Aurora Cannabis Inc. (Canada) ', 'Tilray Brands, Inc. (Canada) ', 'Cronos Group Inc. (Canada) ', 'The Green Organic Dutchman Holdings Ltd. (Canada) ', 'Khiron Life Sciences Corp. (Canada) ', 'Aphria Inc. (Canada) ', 'Village Farms International, Inc. (Canada) ', 'OrganiGram Holdings Inc. (Canada) ', 'Neptune Wellness Solutions Inc. (Canada) ', 'MediPharm Labs Corp. (Canada) ', 'Supreme Cannabis Company, Inc. (Canada) ', 'Sundial Growers Inc. (Canada)'

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.