CBD Skincare Market to Grow at CAGR of 22.8% through 2030 - Huge Demand for Marijuana-Extracted CBD Skin Care Products: The Brainy Insights

The Brainy Insights
The Brainy Insights

Growing popularity and product launches through D2C channels are expected to propel the CBD Skincare market demand. Rapidly growing economies of China, such as Yunnan, Heilongjiang, and Jilin, are among the premium manufacturers of hemp, which is expected to drive the CBD skincare market in the Asia Pacific.

Newark, Nov. 28, 2022 (GLOBE NEWSWIRE) -- According to The Brainy Insights, the CBD skincare market is growing at a CAGR of 22.8% from 2022-2030. The market is driven by the growing popularity of CBD skincare among consumers especially millennials and Gen Z, who are always looking to try out new skincare products majorly oils, serums, and creams to treat various skin conditions.

However, the use of CBD-based products is still considered taboo among the majority of the middle-aged population. Although CBD oil derived from hemp and medical marijuana does not have a THC content of more than 0.3% and is proven safe for use in skincare products, a significant population still believes that using these products can have psychoactive effects.

CBD face serums are anticipated to witness the highest growth in the product segment during the forecast period. These are an ideal way to help the skin absorb all the benefits of the phytocannabinoid present in CBD without getting the consumers high. CBD helps in reducing excessive oil production, making it an ideal therapeutic agent for the treatment of acne vulgaris or common acne.

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The others CBD skincare products include body bars and mask. Due to the anti-inflammatory property of cannabinoids, CBD body bars help alleviate dryness, redness, rashes, and sores or irritated skin. It is rich in omega-3 and omega-6 fatty acids that promote skin health by reducing inflammation. Furthermore, consumers are very proactive these days and inclined toward leading a healthy lifestyle, which is why they are keener on using organic and natural products to remain healthy and fit, which is creating a huge demand for organic skincare products such as CBD body bars.

Companies are entering into partnerships with distributors to cater to consumers across the globe. For instance, in 2019, CV Sciences, Inc. expanded its distribution partnership with more than 400 Kroger stores in five new US states—Georgia, Montana, Texas, Utah, and Virginia. This partnership was aimed at helping the company sell its products in 22 states and 1,350 stores across many of Kroger’s retail banners.

Key Players

1. The Cronos Group
2. Kiehl’s LLC.
3. Cannuka LLC
4. Elixinol Global Limited
5. Isodiol International Inc.
6. Medical Marijuana, Inc.
7. Josie Maran Cosmetics LLC
8. The CBD Skincare Co.
9. ENDOCA
10. Cannuka LLC

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Market Segmentation

• Product Insights

o Oils
o Creams & Moisturizers
o Cleansers
o Serum
o Others

• Source Insights

o Hemp-based
o Marijuana-based

• Distribution Channel Insights

o Online
o Offline

• Regional Insights

o North America

 US
 Canada
 Mexico

o Europe

 UK
 Germany
 France
 Italy
 Spain

o Asia Pacific

 China
 Japan
 India
 Australia
 South Korea

o Central and South America

 Brazil

o Middle East and Africa

 South Africa

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About the report:

The market is analyzed based on value (USD Million). All the segments have been analyzed worldwide, regional, and country basis. The study includes the analysis of more than 30 countries for each part. The report analyzes driving factors, opportunities, restraints, and challenges for gaining critical insight into the market. The study includes porter's five forces model, attractiveness analysis, product analysis, supply, and demand analysis, competitor position grid analysis, distribution, and marketing channels analysis.

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The Brainy Insights is a market research company, aimed at providing actionable insights through data analytics to companies to improve their business acumen. We have a robust forecasting and estimation model to meet the clients' objectives of high-quality output within a short span of time. We provide both customized (clients' specific) and syndicate reports. Our repository of syndicate reports is diverse across all the categories and sub-categories across domains. Our customized solutions are tailored to meet the clients' requirement whether they are looking to expand or planning to launch a new product in the global market.

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