According to leading market intelligence and consulting firm, FMI, the CBD skin care market value is expected to expand at a CAGR of over 33% through 2027.
According to a recent market report published by Future Market Insights titled ‘CBD Skin Care Market: Global Industry Analysis and Opportunity Assessment 2019-2027,’ the revenue generated from sales of CBD skin care products is estimated to be valued at over US$ 645 million (~€570 million) in 2019. The CBD skin care market value is further anticipated to expand at a CAGR of over 33% through 2027.
According to the report, CBD oil, the top selling product in BCD skin care market, will continue to hold a major market share. Moreover, hemp-derived CBD skin care will continue to gather higher traction over its marijuana-derived counterpart.
Restorative, natural healing attributes to favor sales of CBD skin care products
Growing popularity of cannabidiol (CBD) based products that has been attributed to increasing awareness about their medical benefits including healing properties, will continue to drive the CBD skin care market revenue over the next few years.
Besides pharmaceutical, and food & beverage industries, the visibly increasing usage of CBD within personal care industry will remain a prominent factor uplifting the demand growth of CBD skin care products.
The report suggests that consumption of CBD skin care products will be particularly high in cosmetics. Considered to be an excellent restorative, anti-aging solution, CBD skin care range is claimed to be effective for all skin types, including both, acne-prone and sensitive.
As the range of CBD skin care products initiate the process of natural healing, followed by inflammation reduction, it is more likely that a broad consumer base will opt for BCD skin care products range in years to come.
CBD skin care to enter into a plethora of skin conditions
CBD interacts with the body’s endocannabinoid system to improve health. In the personal care industry, several companies are incorporating CBD into their products to reduce inflammation, as well as for the treatment of a wide range of skin conditions.
Moreover, CBD skin care products are proven to boost skin hydration, which will remain an important factor pushing adoption among consumers suffering from skin-related conditions such as dryness, eczema, and psoriasis.
CBD skin care products effectively help in the treatment of acne, which is otherwise a complicated process that addresses blocked pores, excess sebum, overall inflammation, and stubborn bacteria over the course of time.
Whereas, CBD skin care products are available in several types such as creams & moisturisers, serums, cleansers, sunscreens, and oils have been distinctly formulated for different applications. Growing availability of application-specific product lines, according to FMI’s analysis, will boost sales of CBD skin care products in the near future.
Maximum penetration in North America
North America has been the preeminent region for investors in the CBD skin care marketplace as well as manufacturers of CBD skin care products. Rapid adoption of CBD skin care products by North American consumer base, strongly backed by the legalisation of cannabis cultivation, is projected to further assist the growth of CBD skin care market in North America – according to FMI’s analysis.
While cannabis legalisation has been favoring the expanse of CBD skin care market within Canada, there are several countries where marijuana-derived or CBD based products are still not legalised. This will remain a major barrier for the growth of the CBD skin care products market at a global level.
A brief analysis of the profiles of companies operating in the CBD skin care market are also provided in the report to evaluate their key products offerings, strategies, and recent developments. Some of the key participants profiled in the global CBD skin care market report include Kiehl’s LLC, Cannuka, LLC, Green Growth Brands, Josie Maran Cosmetics, Lord Jones, The CBD Skincare Company, CBD For Life, Kapu Maku LLC, IldiPekar Skin Care & Spa, Mazz Hanna, Kana Skincare, Leef Organics, Earthly, Body, Myaderm, Vertly Hemp, Leela Body Care Company, Naturally Splendid, Endoca LLC, Elixinol Global Limited, Medical Marijuana Inc., and Fab CBD Company.
About Future Market Insights
Future Market Insights (FMI) is a leading market intelligence and consulting firm. We deliver syndicated research reports, custom research reports and consulting services, which are personalised in nature. FMI delivers a complete packaged solution, which combines current market intelligence, statistical anecdotes, technology inputs, valuable growth insights, an aerial view of the competitive framework, and future market trends.
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