CBD Skin Care Market Share, Analysis And Forecast

(MENAFN- Straits Research) The Global CBD Skin Care market was valued at USD 526.09 million in 2021 and is predicted to reach at USD 6466.43 million by 2030, increasing at a CAGR of 32.15% from 2022 to 2030.
Market Snapshot

Cannabidiol (CBD), derived from cannabis resin, is non-intoxicating. Cannabinoid (CBD) is most typically used with oils. CBD oil has anti-inflammatory, antioxidant, and skin-soothing properties. CBD oil is currently a popular ingredient in skin care and personal care products.
Since marijuana and cannabis-based cosmetics were legalized, CBD-infused skin care products have gained popularity. CBD-infused skin care products are popular because they relax. Anti-inflammatory and anti-oxidant properties make it a promising skin care ingredient. CBD-based skincare products can improve sleep and treat eczema, psoriasis, and acne. CBD-based skin care is popular among cosmetic brands. CBD-infused skin care is marketed as "natural cosmetics" CBD skin care products are expected to become popularity due to their versatility.
Market Overview
Global CBD Skin Care Market: Drivers

Cannabis-Derived Skin Care Products Are Gaining Popularity

A surge in the working population around the world has increased spending power and awareness of the range of commodities on the market, boosting sales of quality products. These factors have led to growing global demand for natural and organic personal care items.
People are becoming increasingly familiar with the benefits of CBD skin care products, such as CBD oil in their daily coffee, using it to their skin to relieve pain, consuming it to relieve anxiety, and using it in their sex life.

Social-Media's Impact on Skin Diseases

Because of pollution and UV radiation, which can cause skin burns, blackening, and cancer, consumers are turning to CBD-infused cosmetics and skincare products. Consumers' increased acquaintance with the newest skin care products helps boost sales. Companies increasingly use celebrities to sell their products and spend a lot on advertising.
YouTube and Instagram are important influences on today's society. These portals help people find CBD skin care products. Rising customer awareness of the benefits and availability of new products should benefit the global market in the future.
Global CBD Skin Care Market: Key Future Opportunites

Technological Advances and Mergers Create New Opportunities

Recent scientific advances have resulted to innovative CBD extracts and combinations for skin care. CBD-infused goods from multinational firms are capturing new markets and establishing new cash streams. Avon plans to develop vegan skin care products with CBD oil in 2020. As the cannabis beauty industry grows, component approaches vary. These factors boost market growth.
A growing number of technological innovations are driven by a desire to lower production costs and to foster sustainable growth from 2022 to 2030.
Regional Overview
North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa make up the CBD Skin Care Market.
North America, which had over 45% of the market in 2021, is expected to grow quickest.
Demand for CBD skin care products in North America is expected to continue high due to a large client base and the legalization of marijuana. Due to legalization in 33 states and DC, the US possesses the world's largest cannabis market. Cannabis legalization and well-known beauty product makers should boost industry growth in the next years.
CBD-infused skin care products may fuel US customer demand. The FDA Regulation of Cannabidiol (CBD) Products prohibits marijuana but not hemp or cannabis. Manufacturing and selling CBD derivatives is lawful. CBD derivatives may be used as lotions, serums, and ointments.
Asia Pacific will grow rapidly in the future years. China, India, Japan, and Korea are expected to see substantial growth. J-beauty and K-beauty lead the worldwide skincare market, despite cannabis being illegal in Asia. This market is expected to grow rapidly in Asia.
China is one of the main manufacturers of cannabis made from hemp, and the World Bank and IMF expect it to monopolize the market throughout the predicted period. China allows the production and sale of CBD products with a maximum 0.3% THC content from cannabis Sativa fruit, seed oil, and leaf extract. This benefits its use in high-end skincare and luxury cosmetics.
Due to changing legislation, India's CBD skin care market is growing. The Narcotic Drugs and Psychotropic Substances Act of 1985 says it's unlawful to produce cannabis in the U.S., although states can allow its commercial or research cultivation.
Key Highlights

The Global CBD Skin Care Market
was valued at USD 526.09 million in 2021 and is predicted to reach at USD 6466.43 million by 2030, increasing at a CAGR of 32.15% from 2022 to 2030.
By Source,
the Global CBD Skin Care Market is segmented into Hemp and Marijuana. CBD skin care products derived from hemp maintained the biggest market share.
By Type,
the Global CBD Skin Care Market is segmented into Oils, Creams & Moisturizers, Masks & Serums, Cleansers, and Others. In 2021, the market was led by skin care oils containing CBD.
By Region,
the Global CBD Skin Care Market is segmented into North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa. The market share is dominated by North America.


Major Players in Global CBD Skin Care Market

List of major competitor companies in the CBD Skin Care Market across the globe are:

Kiehl's LLC
Medical Marijuana
ENDOCA
Elixinol Global ltd
Lord Jones
Icanic Brands Company, Inc.
LEEF Organics
The CBD Skincare Co
Kana Skincare
Apothecana
Josie Maran Cosmetics
FOLIUM BIOSCIENCES
CBD for life
Pacific Roots LLC
Ecogen labs


Recent Developments

January 2022 -
Icanic Brands Company, Inc., an operator of premium cannabis brands in several states with operations in California and Nevada,
announced
that it has reached a binding agreement with LEEF Holdings, Inc. ("LEEF"), a California-based extractions business.


August 2021 -
The most prominent organic CBD company, Endoca, has revealed that it will be the title sponsor of an event taking place in Times Square on National CBD Day. The event will be produced by Sublime Communications and powered by Five Tier, Inc.


Global CBD Skin Care Market: Segmentation
By Source

Hemp
Marijuana

BY Type

Oils
Creams & Moisturizers
Masks & Serums
Cleansers
Others

By Region

North America
Europe
Asia Pacific (APAC)
Latin America
Middle East and Africa (MEA)

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