The global CBD skin care market is expected to reach USD 1.7 billion by 2025, according to Million Insights, registering a 32.9% CAGR over the forecast period, from 2019 to 2025. Increasing awareness related to the healing properties of CBD infused beauty products is majorly driving the market growth.
The CBD infused beauty products can be used for all types of skin, as it is very effective and safe. The people who are facing acne, dryness, inflammation, and sensitivity problems will greatly benefit from these products as CBD based beauty products help to heal the breakouts and eczema flare-ups. This product has an anti-oxidant property which helps to reduce the pain of inflammatory skin and also helps to prevent aging signs problems.
EU cosmetic ingredient database projected that hemp-infused oil can be used as a surfactant cleanser, emollient, and skin conditioning agent. Hemp molecules are easy to absorb in the skin and give healthy results, thereby, expected to drive the CBD skin care market growth during the forecast period.
In 2018, hemp-based skincare held the largest market share of over 62.0% due to a high source of fatty acid content. These products help in soothing and rejuvenating the dull and damaged skin which is expected to boost the segment growth during the forecast period.
Among types, the CBD based oils segment accounted for the largest market share of over 40.0%, in 2018. This product is gaining traction among consumers owing to its anti-inflammatory property. Moreover, it helps to reduce acne, wrinkle-prone, and other skin problems like signs of aging and wrinkles.
In 2018, North America held the largest market share of more than 40.0% and expected to grow with the highest CAGR during the forecast period. Increasing demand for CBD infused beauty products and the legalization of marijuana in Canada and U.S. have driven the regional market growth. Around 33 states in the U.S. and the district of Colombia have legalized cannabis, thereby, North America is expected to register significant growth rate over the forecast period. In addition, the presence of leading market players are projected to boost regional growth in the next few years.
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Further key findings from the report suggest:
• The global CBD skin care market is projected to grow at a CAGR of 32.9% over the forecast period and expected to reach a value of USD 1.7 billion by 2025
• Hemp based products has generated a revenue of USD 147.0 million, in 2018.
• North America accounted for largest market share of more than 40.0% in 2018, owing to high demand and legalization of cannabis in U.S. and Canada.
• Some of the market players operating in the market are Cannuka LLC, Endoca LL, Leef Organics, Elixinol Global Limited, Kapu Maku LLC, Kiehl’s LLC, VERTLYBALM, Lord Jones, and Medical Marijuana Inc.
Million Insights has segmented the global CBD skin care market on the basis of type, source, and region:
CBD Skin Care Source Outlook Revenue, USD Million, 2015 - 2025)
CBD Skin Care Type Outlook (Revenue, USD Million, 2015 - 2025)
• Creams & Moisturizers
• Masks & Serums
CBD Skin Care Regional Outlook (Revenue, USD Million, 2015 - 2025)
• North America
• Asia Pacific
• Central & South America
• Middle East & Africa