Global CBD Skin Care Market is valued approximately at USD 254 million in 2018 and is anticipated to grow with a healthy growth rate of more than 32% over the forecast period 2019-2026. Cannabidiol (known as CBD) is the non-intoxicating compound extracted from marijuana or hemp plants. Cannabidiol is used for the treatment of skin care conditions such as psoriasis, dry skin, acne and eczema. It is considered effective and safe for all skin types although is mostly effective for people who struggle with inflammatory conditions, sensitivity, acne, and dryness related to skin. The global market for CBD skin care is observing growth owing to the ability of these cannabidiol products in treating several skin conditions. CBD also comprises of antioxidant properties that can help in neutralizing signs of aging. The presence of such outstanding properties in CBD, makes it as one of the key components in personal care and skin care products. Thus, growth in personal care industry is contributing towards market growth. According to India Brand Equity Foundation, personal care market in India is expected to reach $20 billion by 2025 as compared to $6.5 billion in 2016. Similarly, the United states personal care industry is estimated to reach 42 billion by 2023 as compared to $34 billion in 2012, as per Statista. This, growth in the personal care industry is expected to increase the adoption of CBD in skin care product thereby contributing towards market growth. However, strict rules and regulations regarding the approval of CBD based products impedes the growth of the market over the forecast period of 2019-2026.
The regional analysis of global CBD Skin Care market is considered for the key regions such as Asia Pacific, North America, Europe, Latin America and Rest of the World. North America is the leading/significant region across the world in terms of market share owing to high demand & legalization of cannabis coupled with presence of prominent beauty care manufacturers in the region. Whereas, Asia-Pacific is also anticipated to exhibit highest growth rate / CAGR over the forecast period 2019-2026. Factors such as growing number of startups and consumer base would create lucrative growth prospects for the CBD Skin Care market across Asia-Pacific region.
Major market player included in this report are:
Elixinol Global Limited
Medical Marijuana Inc.
The CBD Skincare Co.
Kapu Maku LLC
The objective of the study is to define market sizes of different segments & countries in recent years and to forecast the values to the coming eight years. The report is designed to incorporate both qualitative and quantitative aspects of the industry within each of the regions and countries involved in the study. Furthermore, the report also caters the detailed information about the crucial aspects such as driving factors & challenges which will define the future growth of the market. Additionally, the report shall also incorporate available opportunities in micro markets for stakeholders to invest along with the detailed analysis of competitive landscape and product offerings of key players. The detailed segments and sub-segment of the market are explained below:
Creams & Moisturizers
Masks & Serums
Rest of the World
Furthermore, years considered for the study are as follows:
Historical year – 2016, 2017
Base year – 2018
Forecast period – 2019 to 2026
Target Audience of the Global CBD Skin Care Market in Market Study:
Key Consulting Companies & Advisors
Large, medium-sized, and small enterprises
Value-Added Resellers (VARs)
Third-party knowledge providers