Cannabidiol (CBD) Skin Care Market Analysis North America, Europe, APAC, South America, Middle East and Africa - US, Canada, Germany, Japan, UK - Size and Forecast 2024-2028

Cannabidiol Skin Care Market Size 2024-2028

The cannabidiol (CBD) skin care market size is forecast to increase by USD 5.02 billion at a CAGR of 38.64% between 2023 and 2028.

• The market is experiencing significant growth due to the numerous benefits it offers for skin health. CBD's anti-inflammatory and antioxidant properties make it an effective ingredient in addressing various skin concerns, including acne, eczema, and aging. companies in this market are expanding their product portfolios and collaborating to cater to the increasing demand. Moreover, CBD oil's anti-inflammatory properties help combat inflammation and redness, making it an excellent addition to skin-lightening products and cosmetics ODM market offerings. However, the market faces challenges such as the easy availability of counterfeit products, which may negatively impact consumer trust and market growth. Despite these challenges, the market is expected to continue its upward trajectory, driven by consumer awareness and acceptance of CBD as a natural and effective skincare ingredient.

What will be the Size of the Market During the Forecast Period?

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• The market is experiencing significant growth due to the increasing popularity of CBD as a natural ingredient in skin care products. CBD, a non-intoxicating compound derived from cannabis plants, is known for its anti-inflammatory properties, making it an ideal ingredient for skin care products targeting conditions such as psoriasis, eczema, skin irritation, and sensitivity. CBD oil, creams, balms, and masks are gaining traction among working professionals with a higher spending capacity, who seek quality products for maintaining healthy and radiant skin. CBD's benefits extend beyond skin care, as it is also known to regulate various physiological functions, including inflammation, anxiety, insomnia, and cognitive functions.
• Moreover, CBD is believed to improve mood, pain, and memory. The production and consumption analysis of CBD indicates a positive trend, with an increasing number of consumers opting for CBD-infused skin care products due to their potential health benefits. Consumer behavior research suggests that the demand for CBD skin care products is driven by the growing awareness of their therapeutic properties and the desire for natural and effective alternatives to traditional skin care products.

How is this market segmented and which is the largest segment?

The market research report provides comprehensive data (region-wise segment analysis), with forecasts and estimates in "USD billion" for the period 2024-2028, as well as historical data from 2018-2022 for the following segments.

• Type
  • Oils
  • Cream moisturizer and cleanser
  • Mask serum and lotion
• Source
  • Hemp
  • Marijuana
• Geography
  • North America
    • Canada
    • US
  • Europe
    • Germany
    • UK
  • APAC
    • Japan
  • South America
  • Middle East and Africa

By Type Insights

• The oils segment is estimated to witness significant growth during the forecast period.

CBD (cannabidiol), a non-psychoactive compound derived from cannabis plants, is gaining popularity in the skin care market due to its numerous benefits. Skin care products, including creams, balms, and masks infused with CBD oil, are increasingly being used to address various skin concerns. These products are effective in reducing skin irritation and sensitivity, making them suitable for individuals with psoriasis, eczema, and other skin conditions. CBD oil's benefits extend beyond inflammation. Its Vitamin A content has anti-aging properties, making it an ideal ingredient for moisturizers, cleansers, sunscreens, chapsticks, and other skin care products.

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The oils segment was valued at USD 148.90 million in 2018 and showed a gradual increase during the forecast period.

Regional Analysis

• North America is estimated to contribute 45% to the growth of the global market during the forecast period.

Technavio's analysts have elaborately explained the regional trends and drivers that shape the market during the forecast period.

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The market is experiencing significant growth due to the increasing recognition of cannabinoids as effective ingredients for pain relief and memory enhancement. Derived from Cannabis plants, including both marijuana and hemp, CBD is a non-intoxicating compound that offers antioxidant properties, making it an attractive option for skin care purposes. Production consumption analysis indicates an increase in demand for CBD skin care products, driven by urbanization, changing lifestyles, and product innovations. Internet penetration has played a crucial role in consumer behavior, enabling easy access to information and online purchasing. CBD powder extracted from cannabis plants is a key ingredient in various skin care products, catering to diverse needs such as reducing skin swelling, itching, and peeling.

Market Dynamics

Our researchers analyzed the data with 2023 as the base year, along with the key drivers, trends, and challenges. A holistic analysis of drivers will help companies refine their marketing strategies to gain a competitive advantage.

What are the key market drivers leading to the rise in adoption of Cannabidiol (CBD) Skin Care Market?

Benefits of CBD in skincare is the key driver of the market.

• Cannabidiol (CBD), a non-intoxicating compound derived from hemp or marijuana, is gaining significant attention in the skincare industry due to its numerous benefits. The global market for CBD skin care products is witnessing a increase in demand as consumers seek high-quality, affordable, and reliable solutions for various skin concerns. CBD's anti-inflammatory properties make it an ideal ingredient for treating skin irritation, sensitivity, and conditions such as psoriasis and eczema. The versatility of CBD extends to various skincare product categories, including creams, balms, masks, oils, cleansers, moisturizers, sunscreens, and chapsticks. CBD's benefits are not limited to skin care; it also plays a role in addressing physiological functions such as inflammation, anxiety, insomnia, and cognitive functions.
• Moreover, the cannabis-based ingredient is increasingly being used in the cosmetics ODM market, and brands like The Body Shop, Juana Skin, and others are incorporating CBD into their green cosmetic products. CBD oil derived from hemp is also popularly used as a base ingredient in skincare products. Additionally, other natural ingredients like turmeric and squalene oil are often combined with CBD to enhance its efficacy.

What are the market trends shaping the Cannabidiol (CBD) Skin Care Market?

Increasing collaborations among companies and business expansion is the upcoming trend in the market.

• The market is witnessing significant growth due to increasing collaborations among market participants. These partnerships enable companies to expand their product offerings, geographic reach, and distribution networks. By gaining access to new technologies, resources, and products, companies can improve their market shares and cater to a wider customer base. The market encompasses a range of products, including creams, balms, masks, and CBD oil. These CBD-infused offerings cater to various skin concerns, such as psoriasis, eczema, skin irritation, sensitivity, and acne. Additionally, CBD skin care products are increasingly being used for aging skin, moisturizers, cleansers, sunscreens, and chapsticks.
• Moreover, the market also includes skin-lightening products and offerings in the cosmetics ODM market. With the rising popularity of cannabis-based products and marijuana-derived CBD, the market is expected to grow further. CBD's physiological functions, including its ability to reduce inflammation, anxiety, and insomnia, make it an attractive ingredient in beauty products. Brands like The Body Shop, Juana Skin, and others are introducing green cosmetic products infused with CBD, hemp, turmeric, and squalene oil. This trend is expected to continue, driven by the growing demand for quality products that offer affordability, reliability, and effectiveness.

What challenges does Cannabidiol (CBD) Skin Care Market face during the growth?

Easy availability of counterfeit products is a key challenge affecting the market growth.

• The market has experienced significant growth in recent years, driven by the increasing popularity of CBD oil and its potential benefits for various skin conditions such as psoriasis, eczema, and skin irritation. CBD skin care products, including creams, balms, masks, and oils, have gained traction among working professionals due to their ability to provide relief from stress and improve skin health. However, the market growth has been challenged by the proliferation of counterfeit CBD skin care products. These imitations, which replicate the packaging of established brands, are often sold at lower prices through unauthorized distributors and online retail channels.
• Moreover, consumers, particularly in price-sensitive markets like China and India, are attracted to the affordability of these counterfeit products. However, the use of marijuana-derived CBD in these products can raise concerns regarding quality and reliability. Moreover, counterfeit products may not deliver the desired results, damaging the reputation of genuine CBD skin care brands. The market includes various product categories, such as moisturizers, cleansers, sunscreens, chapsticks, and skin-lightening products, as well as the cannabis-based cosmetics ODM market. Other ingredients, such as hemp, turmeric, and squalene oil, are also used in CBD skin care products to enhance their efficacy. The market is expected to grow further due to its potential benefits for inflammation, anxiety, insomnia, and other physiological and cognitive functions.

Exclusive Customer Landscape

The market forecasting report includes the adoption lifecycle of the market, covering from the innovator's stage to the laggard's stage. It focuses on adoption rates in different regions based on penetration. Furthermore, the market report also includes key purchase criteria and drivers of price sensitivity to help companies evaluate and develop their market growth analysis strategies.

Customer Landscape

Key Companies & Market Insights

Companies are implementing various strategies, such as strategic alliances, market forecast , partnerships, mergers and acquisitions, geographical expansion, and product/service launches, to enhance their presence in the market.

The market research and growth report includes detailed analyses of the competitive landscape of the market and information about key companies, including:

• Blessed CBD
• Cannuka LLC
• CBD For Life
• Charlottes Web Holdings Inc.
• Dixie Brands
• Earthly Body Inc.
• Elixinol Wellness Ltd.
• Endoca BV
• High Tide Inc.
• Isodiol International Inc.
• Josie Maran Cosmetics LLC
• Kana Skincare
• Kush Creams
• Leef Organics Ltd.
• LOreal SA
• Myaderm Inc.
• Nordic Organics Inc.
• Redwood Wellness LLC
• The CBD Skincare Co
• Vertly LLC

Qualitative and quantitative analysis of companies has been conducted to help clients understand the wider business environment as well as the strengths and weaknesses of key market players. Data is qualitatively analyzed to categorize companies as pure play, category-focused, industry-focused, and diversified; it is quantitatively analyzed to categorize companies as dominant, leading, strong, tentative, and weak.

Research Analyst Overview

CBD, or cannabidiol, is a non-psychoactive compound derived from the cannabis plant, gaining significant attention in the skin care industry. The global CBD skin care products market is experiencing strong growth due to the potential benefits of CBD for various skin conditions such as psoriasis, eczema, skin irritation, and sensitivity. CBD offers relief from inflammation, making it an ideal ingredient for balms, masks, and creams. CBD oil is used in various forms, including moisturizers, cleansers, sunscreens, chapsticks, and masks. Working professionals with a spending capacity for quality products are increasingly opting for CBD-infused skin care due to its reliability and affordability.

Moreover, the market includes a wide range of products, from cannabis-based creams and balms to marijuana-derived CBD masks. The skin-lightening products market and cosmetics ODM market are expected to experience growth due to the addition of CBD. CBD's potential benefits extend beyond skin care, as it is also known to help with acne, aging, and inflammation. Other natural ingredients, such as hemp, turmeric, and squalene oil, are often combined with CBD to enhance its effects. Brands like The Body Shop and Juana Skin are leading the way in the green cosmetic products market with their CBD-infused offerings. CBD's impact on physiological functions, including regulation of mood, anxiety, and insomnia, further adds to its appeal.

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What are the Key Data Covered in this Market Research and Growth Report?

• CAGR of the market during the forecast period
• Detailed information on factors that will drive the market growth and forecasting between 2024 and 2028
• Precise estimation of the size of the market and its contribution of the market in focus to the parent market
• Accurate predictions about upcoming market growth and trends and changes in consumer behaviour
• Growth of the market across North America, Europe, APAC, South America, and Middle East and Africa
• Thorough analysis of the market's competitive landscape and detailed information about companies
• Comprehensive analysis of factors that will challenge the growth of market companies

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