Cannabidiol (CBD) Skin Care Market Analysis North America,Europe,APAC,South America,Middle East and Africa - US,Canada,Japan,Germany,UK - Size and Forecast 2023-2027

CBD Skincare Market Forecast 2023-2027

The cannabidiol (CBD) skin care market size is estimated to increase by USD 2.20 billion, growing at a CAGR of 26.74% between 2022 and 2027.The market experiences significant propulsion due to the skincare benefits offered by CBD. Its properties as a skin-calming and normalizing agent are particularly advantageous for individuals with sensitive skin, effectively alleviating issues such as skin redness. Additionally, CBD acts as an effective skin conditioning agent, enhancing skin texture and softness.

What will be the Size of the Cannabidiol (CBD) Skin Care Market During the Forecast Period?

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Market Segmentation

This Cannabidiol Skin Care Market report extensively covers market segmentation by type (oils, cream moisturizer and cleanser, and mask serum and lotion), source (hemp and marijuana), and geography (North America, Europe, APAC, South America, and Middle East and Africa). 

By Type

The market share growth by the oils segment will be significant during the forecast period. One of the most significant benefits of the oil on the skin is the reduction of redness of the skin. CBD oil is highly effective in treating sensitive skin that easily reacts to allergens and is prone to eczema, dermatitis, and other skin-related ailments. The oil also helps in combating skin inflammation. The Vitamin A content in the oil has anti-aging properties, which help in reducing wrinkles and protecting against harmful ultraviolet (UV) rays. All these skincare benefits of oil have boosted its demand among consumers globally. 

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The oils segment was valued at USD 118.61 million in 2017 and continued to grow until 2021. Growing Internet penetration has resulted in accelerating the awareness of the several skincare benefits of oil further through various social media platforms, thereby increasing its demand. To cater to the growing consumer demand for the oil-based skincare products, vendors across the world are introducing various products, leading to the high availability of CBD oil-based skincare products. For instance, Kiehl's (a popular CBD brand of L'Oreal SA (L'Oreal)) offers the Cannabis Sativa Seed Oil Herbal Concentrate, which is very effective in reducing redness and provides relief to acne-prone skin.

The Argan Oil + 100 mg CBD Oil offered by Josie Maran Cosmetics LLC (Josie Maran Cosmetics) is very helpful in providing relief to stressed, fatigued, and sensitive skin. Certain vendors have also adopted various search engine optimization (SEO) strategies to create online awareness regarding CBD oil-based skincare products among consumers globally. Thus, the high awareness of the benefits of oil on the skin, coupled with the increased availability of these products, is a major factor that will contribute to the growth of the segment during the forecast period.

Which are the Key Regions for the Market?

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North America is estimated to contribute 43% 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. The legalization of cannabis cultivation in the US and Canada has significantly favored themarket in North America. In the US, hemp-derived has been removed from the list of controlled substances through the 2018 Farm Bill, which has resulted in the increased adoption of hemp-derived skincare products among US consumers.

The easy availability of counterfeit products in the North American beauty and personal care (BPC) products market is a major factor hampering the growth of the market in this region. Counterfeit products have a negative impact on consumer health and safety, thereby limiting their adoption among consumers. In 2018, the Centers for Disease Control and Prevention (CDC) reported that 52 people in Utah, US, got sick from applying fake oil. Such incidents are likely to decrease the demand for products, thereby resulting in decreased sales, which can impede the growth of the market in North America during the forecast period.

Market Dynamics and Customer Landscape

The burgeoning CBD skincare market is primarily propelled by the increasing demand for natural and effective skincare solutions. With a growing consumer preference for products derived from natural ingredients, CBD-infused skincare items have gained significant traction due to their purported benefits in alleviating various skin conditions such as psoriasis, eczema, and skin irritation. Moreover, the rising awareness of CBD's potential therapeutic properties, including its anti-inflammatory and soothing effects, has led to a surge in demand for CBD cosmetic and skincare products among individuals seeking relief from skin sensitivity and discomfort. As consumers, including working professionals with higher spending capacities, increasingly prioritize quality skincare products that promote overall skin health, the CBD skincare industry is experiencing notable growth driven by the appeal of high-quality, CBD-infused skincare formulations catering to various skin concerns. Our researchers analyzed the data with 2022 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.

Key Market Driver

The market is propelled by the significant skincare advantages provided by CBD. Its properties as a skin-calming and normalizing agent make it particularly beneficial for individuals with sensitive skin, alleviating issues such as skin redness. Moreover, CBD serves as an effective skin conditioning agent, contributing to the improvement of skin texture and softness. Notably, it is recognized as a natural remedy for addressing conditions like psoriasis, characterized by the rapid growth of skin cells. With these diverse skincare benefits, CBD has become a sought-after ingredient in various skincare products, leading to a growing global demand for CBD-infused cosmetics. Consequently, this trend stands as a key driver fostering the expansion of the global market throughout the forecast period.

Significant Market Trends

The increasing collaboration among vendors and business expansion is another factor supporting the market growth. Such collaborations among market participants help them to expand their product portfolios, geographic presence, as well as distribution networks. Moreover, strategic collaborations enable companies to gain access to new products, technologies, and resources and, thereby, improve their market shares.

Also, the expansion of business by vendors enables them to widen their customer base by increasing their geographical presence. All these factors are expected to potentially drive the business of the vendors operating in the market and thereby contribute to the growth of the global market during the forecast period.

Major Market Challenge

The easy availability of counterfeit products is one of the factors hindering the market growth. Counterfeiting has increased over the past few years, as consumers prefer low-priced products to expensive ones. The digital era makes it possible for counterfeiters to sell without a prior product review or inspection. Therefore, the presence of numerous counterfeit products can lead to market fragmentation, which can lead to the lack of price standardization, an uneven competitive scenario, and the erosion of market share held by international vendors.

Moreover, there are several countries across the world where the selling of products has not yet been legalized. This has led to the illegal sales of the skincare products in these countries where the products offered by the manufacturers do not adhere to the general standards associated with the manufacturing, labeling, and selling of these products. Such factors are hindering the Market growth.

Key Market Customer Landscape

The Cannabidiol Skin Care Market 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 report also includes key purchase criteria and drivers of price sensitivity to help companies evaluate and develop their growth strategies.

Global Market Customer Landscape

Who are the Major Cannabidiol (CBD) Skin Care Market Companies?

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

Cannuka LLC: The company offers CBD skincare products such as purifying gel balm cleanser. Also, the company uses two natural ingredients such as CBD and Manuka honey which are combined to create range of skincare products which includes body cream, masks, gel balm cleanser and face cream. 

The research report also includes detailed analyses of the competitive landscape of the market and information about 15 market companies, including:

• Blessed CBD
• CBD For Life
• Charlottes Web Holdings Inc.
• Dixie Elixirs LLC
• 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.

Qualitative and quantitative analysis of vendors 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 vendors as dominant, leading, strong, tentative, and weak.

Segment Overview

The market report forecasts market growth by revenue at global, regional & country levels and provides an analysis of the latest trends and growth opportunities from 2017 to 2027. 

• Type Outlook (USD Million, 2017 - 2027)
  • Oils
  • Cream moisturizer and cleanser
  • Mask serum and lotion

• Source Outlook (USD Million, 2017 - 2027)
  • Hemp
  • Marijuana

• Region Outlook (USD Million, 2017 - 2027)
  • North America
    • The U.S.
    • Canada
  • Europe
    • The U.K.
    • Germany
    • France
    • Rest of Europe
  • APAC
    • China
    • India
  • South America
    • Chile
    • Argentina
    • Brazil
  • Middle East & Africa
    • Saudi Arabia
    • South Africa
    • Rest of the Middle East & Africa

Market Analyst Overview

The market is experiencing significant growth as consumers increasingly turn to CBD (cannabidiol) for its potential benefits in skincare products. CBD-infused balms, moisturizers, cleansers, and sunscreens are gaining popularity for their purported ability to address skin irritation and provide various therapeutic effects. With a focus on clean-label personal care products, consumers, including working professionals with spending capacity, seek quality and reliability in CBD skincare offerings.

The industry encompasses a range of products, including those derived from hemp plants, known for their non-intoxicating compound properties. Brands like The Body Shop and Juana Skin are leading the way with innovative formulations containing ingredients like sunflower and jojoba seed oils, turmeric, and squalene oil. CBD skincare is also tapping into the growing demand for green cosmetics, offering cost-effective and functional pumps and dispensers.

In addition to skincare benefits, CBD is believed to address anxiety, insomnia, and physiological functions like mood regulation and pain relief. However, stringent regulations surrounding THC content in cannabis-based products remain a consideration for manufacturers and consumers alike.

Despite challenges such as transit limitations and supply chain disruptions, the CBD skincare market continues to thrive, driven by product innovations, technological advancements, and sustainable development initiatives. As disposable incomes rise and urban lifestyles drive demand for luxury clean beauty products, the CBD skincare market is poised for further growth and commercialization.

CBD Skincare Market Scope
Report Coverage	Details
Page number	161
Base year	2022
Historic period	2017-2021
Forecast period	2023-2027
Growth momentum & CAGR	Accelerate at a CAGR of 26.74%
Market growth 2023-2027	USD 2.20 billion
Market structure	Fragmented
YoY growth 2022-2023(%)	25.82
Regional analysis	North America, Europe, APAC, South America, and Middle East and Africa
Performing market contribution	North America at 43%
Key countries	US, Canada, Japan, Germany, and UK
Competitive landscape	Leading Vendors, Market Positioning of Vendors, Competitive Strategies, and Industry Risks
Key companies profiled	Blessed CBD, Cannuka LLC, CBD For Life, Charlottes Web Holdings Inc., Dixie Elixirs LLC, 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, and Vertly LLC
Market dynamics	Parent market analysis, Market forecasting, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID-19 impact and recovery analysis and future consumer dynamics, Market condition analysis for forecast period.
Customization purview	If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized.

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

• CAGR of the market during the forecast period
• Detailed information on factors that will drive the market growth and forecasting of the market between 2023 and 2027
• Precise estimation of the size of the market size and its contribution to the parent market
• Accurate predictions about upcoming market trends and analysis and changes in consumer behavior
• Growth of the market industry across Europe, North America, APAC, South America, and Middle East and Africa
• Thorough market growth analysis of the market’s competitive landscape and detailed information about companies
• Comprehensive market analysis and report on the factors that will challenge the market research and growth of market companies

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