Global CBD Skin Care Market Extends at a Healthy CAGR of 32.15%

Introduction

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.

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.

Competitive Players

1. Cannuka, LLC
2. Essentia Pura
3. Earthly Body
4. Josie Maran
5. Kapu Maku LLC. (Populum)
6. Kiehl’s
7. LEEF
8. Lord Jones
9. Sephora USA, Inc.
10. The CBD Skincare Co
11. Kush Creams
12. SWISS ORGANIC PARTNERS AG
13. DermapenWorld
14. Genie Supply
15. Cosmetic Solutions Innovation Labs

Recent Developments

Recent Developments

• March 2024- Yon-Ka Paris launched a new CBD Serum and related treatment. This innovative product, enriched with CBD and other natural ingredients, includes a night serum and a CBD Sleep Therapy Treatment designed to release tension and enhance sleep quality.

Analyst Opinion

As per our analyst, the CBD skincare industry represents a lucrative and expanding market opportunity. With growing consumer interest in wellness and natural ingredients, businesses can tap into a burgeoning segment by offering CBD-infused skincare products. Companies that successfully navigate regulatory challenges and ensure high-quality, effective products will likely capture a significant market share.

Strategic partnerships and innovative marketing approaches can further enhance brand visibility and consumer trust. However, businesses must also be prepared for potential hurdles, such as evolving regulations and competition from both established skincare brands and new entrants.

Segmentation

1. By Product Type
   1. Oils And Lotions
   2. Moisturizers
   3. Masks & Serums
   4. Cleansers
   5. Others
2. By Source
   1. Organic
      1. Hemp Derived
      2. Marijuana Derived
   2. Synthetic
3. By Distribution Channel
   1. Online
      1. Company Website
      2. E-Commerce Platforms
   2. Offline
      1. Hypermarkets / Supermarkets
      2. Drug/Pharmaceutical Stores
      3. Specialty Stores
      4. Others