Global CBD Skin Care Market: Overview
Market prospects and interest of cosmetic companies in CBD (cannabidiol, its FDA-regulated name) have stemmed from its numerous medical and therapeutic benefits. CBD is bereft of marijuana’s tetrahydrocannabinol (THC) content, has wide-ranging beneficial effects in skin care, such as in acne control and anti-aging. The drive for CBD skin care market has gathering strength on the back of a growing body of studies ascertaining the anti-inflammatory effects of CBD on skin. CBD skin care has also gathered steam in personal care due to its antioxidant effect. Moreover, it is considered to reduce sensitivity of skin and various other problems that arise due to this.
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The study on the CBD skin care market strives to offer a comprehensive assessment of the market proposition of various formulations, prospects in various end-use industries, and current opportunities in emerging economies of the world. The analysts take a closer look at the changes in consumer preferences and regulatory norms in various parts of the world, to shed light on how growth trajectories will be affected in near future.
Global CBD Skin Care Market: Key Developments
CBD brands in developed nations have started taking active interest in skin care and beauty care segments. An emerging hemp-derived CBD brands HUGS Wellness has in June 2020 announced that it aspired to enter the CBD skin care market with exciting launches. It has recently launched chamomile clay mask and eye serum. The Austin-based company through CBD skin care hopes to explore new possibilities in personal and beauty care industry. Through the product, the company aims at meeting the skin inflammation, wrinkles, and irritation reduction needs of its consumers.
Such product launches will inevitable expand the horizon of CBD skin care market. The company has based its products on rigorous testing of extracts and CBD in them.
Some of the well-entrenched players in the CBD skin care market looking to gain sizable shares by the end of 2028 are the CBD Skincare.co, Myaderm, LEEF Organics, Kiehl’s, Josie Maran Cosmetics, Earthlybody (CBD Daily), and Cannuka, LLC. Several players are leaning on offering clean labelling to attract prospective consumers.
Global CBD Skin Care Market: Growth Dynamics
The study of the CBD skin care market takes a closer look at key drivers and restraints shaping its growth dynamics. The analysis also provides a detailed scrutiny of the key consumer and industry trends in CBD that will impact opportunities for personal and beauty care product manufacturers in various parts of the world.
A key driver of CBD skin care market is the vast purported benefits of CBD in anti-wrinkle and anti-aging formulations. The demand for exotic formulations spurs consumers’ interest in hemp-derived CBD formulations. Further, growing spending on appearances among young adults, men as well as women, has spurred interest in CBD skin care market. Moreover, millennials are showing interest in exotic plant-based formulations for the care of sensitive skin types.
Global CBD Skin Care Market: Regional Analysis
On the regional front, North America has emerged as a remarkable lucrative market with vast revenue potential. A large number of research and development has been made in part of the U.S. and Canada on evaluating the beneficial effects of CBD on various kin types. Further, several beauty care brands are keen on entering the CBD care market by launching new products in the region. Moreover, a favorable regulatory outlook toward the therapeutic use of CBD oil has helped cement the prospects of the regional market.
On the other hand, the opportunities in Asia Pacific are expected to rise at promising pace.
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