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CBD Skin Care Market

Market Study on CBD Skin Care: Analysing the Penetration of CBD in Beauty and Personal Care Industry, PMR Foresees Various Opportunities for CBD Skin Care Brands Appearing on the Horizon

A Detailed Analysis of the CBD Skin Care Market Based on a Growing Focus on Skin Care, Product Regulations, and Improvements in Technology

CBD Skin Care Market

The global CBD Skin Care market is forecast to expand at a CAGR of 22.1% and thereby increase from a value of US$3.4 Bn in 2023, to US$14 Bn by the end of 2030.

Attributes

Key Insights

CBD Skin Care Market Size (2023E)

US$3.4 Bn

Projected Market Value (2030F)

US$14.0 Bn

Global Market Growth Rate (CAGR 2023 to 2030)

22.1%

Historical Market Growth Rate (CAGR 2018 to 2022)

18.2%

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Market Introduction and Definition

In the context of cosmetics, CBD, or cannabidiol, pertains to items containing this non-psychoactive constituent extracted from the cannabis plant. CBD's incorporation into cosmetics formulations has increased significantly due to its therapeutic properties. CBD, which is acknowledged for its antioxidant and anti-inflammatory properties, is hypothesized to provide a range of hygiene advantages. By means of its interaction with the endocannabinoid system, it may assist in the management of skin issues including inflammation, erythema, and indications of aging.

The incorporation of CBD into skincare products corresponds to the increasing inclination of consumers towards natural and holistic methodologies, establishing it as a significant development in the beauty and wellness sector.

A multitude of factors propels the unprecedented expansion of the global CBD cosmetics market. The growing recognition of the potential benefits of CBD and the evolving preference for natural and organic hygiene products drive market expansion. The increasing incidence of skin disorders and conditions stimulates consumer interest in CBD-infused products as they search for alternatives to traditional treatments.

Additionally, the legalization of CBD derived from hemp in numerous regions creates opportunities for market expansion. Innovative product introductions and strategic partnerships between skincare brands and CBD suppliers all contribute to the market's ascent. The CBD skincare market is positioned for significant growth as regulatory barriers continue to evolve. A convergence of consumer preferences, increased health awareness, and advancements in the industry propel this expansion.

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Market Growth Drivers

Consumer Inclination Towards Natural and Holistic Skincare

The significant growth of the worldwide CBD skincare industry can be attributed to a fundamental change in consumer inclinations towards natural and holistic skincare products. In recent times, there has been a noticeable shift in consumer preferences toward more discerning products that correspond to their evolving understandings of health and well-being.

An increasing consciousness regarding the possible adverse effects linked to cosmetics formulations loaded with synthetic and chemical substances emphasizes this transition. Consequently, CBD, which is extracted from the cannabis plant and is widely recognized for its organic qualities, has surfaced as an appealing option for consumers in search of hygiene products that align with their penchant for well-being.

Present-day consumers exhibit a discernible inclination towards hygiene products that promote holistic well-being and harmony, surpassing their superficial aesthetic concerns. CBD, due to its anti-inflammatory and non-psychoactive characteristics, epitomizes a natural and holistic approach to hygiene. Complementary to the endocannabinoid system, which is essential for skin homeostasis and equilibrium, the compound interacts with this system.

CBD's intrinsic relationship with the body's regulatory mechanisms elevates it beyond a mere hygiene ingredient, transforming it into a comprehensive wellness solution. The increased popularity of CBD skincare products can be ascribed to consumers acknowledging and accepting the notion that radiant skin serves as a manifestation of internal tranquility.

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Market Restraints

Regulatory Complexities

Amid the rapid expansion of the worldwide CBD cosmetics industry, a substantial impediment arises in the shape of regulatory complexities. The domain of CBD products is governed by an intricate network of varying regulations and restrictions that vary by region. The intrinsic correlation between CBD and cannabis introduces a complex dimension, as diverse legal structures and understandings influence the course of the market.

Successfully navigating the complex regulatory landscape presents a significant obstacle for enterprises engaged in the CBD cosmetics industry. Ambiguity frequently results from the absence of standardized guidelines, which has repercussions for product development, marketing strategies, and market dynamics.

Escalating Competition Among Brands

One significant obstacle that is putting pressure on the global CBD cosmetics market is the escalating competition among companies in the industry. The burgeoning market for CBD-infused skincare has garnered the attention of numerous participants, including well-established beauty conglomerates as well as specialized startup companies.

The increase in the number of competitors further complicates the dynamics of the market, presenting difficulties for established brands as well as new entrants. In an era when the market is inundated with a wide variety of CBD skincare products, the ability to distinguish oneself becomes an essential challenge.

Brands are confronted with the intricate task of creating distinctive products or services while simultaneously adhering to an ever-changing regulatory framework.

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Opportunities

Increasing Awareness, and Concerns About Health and Wellness

An advantageous factor driving the worldwide CBD cosmetics industry to unprecedented levels of growth is the increasing awareness and concern for health and wellness among consumers. In the current era, where the importance of self-care is heightened, there is a growing attraction among individuals to hygiene products that serve the dual purpose of improving outward appearance and promoting holistic health. CBD, due to its reputed therapeutic attributes, harmonizes effortlessly with this wellness-oriented mindset, thereby generating a profitable prospect for market participants.

As a result of the worldwide trend toward placing a premium on health and wellness, the market for CBD hygiene products is receptive. In addition to surface-level cosmetic advantages, consumers prefer products that tackle more extensive health issues. CBD's anti-inflammatory and antioxidant properties establish it as a versatile remedy for skin concerns, appealing to individuals who consider hygiene an essential component of their comprehensive wellness trajectory.

With increasing consumer awareness regarding the potential advantages of CBD and its synergistic association with the endocannabinoid system, it is expected that there will be a consistent surge in demand for hygiene products infused with CBD.

Market Segmentation

Which is the Bestselling Product Type?

Sales of Creams Remain Dominant

One of the most anticipated market shares in the CBD cosmetics industry is held by creams amidst the market's diverse segments. Creams, which are recognized for their multipurpose nature and capacity to tackle a range of hygiene issues, have garnered extensive approval from consumers. The effectiveness of CBD-infused creams in providing therapeutic advantages propels the demand for them, establishing them as an essential component of the hygiene regimens of a wide range of consumers.

CBD serums are the market segment with the most prospective expansion. By integrating the advantageous properties of CBD into concentrated and targeted formulations, CBD serums provide a robust remedy for specific hygiene requirements. Modern consumers prefer expedient and efficacious skincare solutions, which are facilitated by the serums' lightweight composition and absorbency. With the ongoing market trend toward specialized and outcome-driven products, it is expected that CBD serums will witness substantial expansion, appealing to consumers in search of targeted and effective hygiene alternatives.

Which is the Preferred Price Range?

Economic Range of Products will be the Most Preferred Range of Consumers

With a broader outlook, however, the largest market share will probably be captured by hygiene products that prioritize affordability, such as inexpensive lotions and moisturizers. These products are well-liked by a wide range of consumers due to their ability to satisfy budget-conscious tastes while providing vital hygiene advantages.

Which Packaging Type is the Most Preferred?

Tubes to Hold the Dominant Market Share, Attributing to their Sanitary and Practical Packaging Functionality

It is anticipated that tubes will hold the highest market share among the packaging segments mentioned in the context of the CBD skincare industry. Tubes offer a sanitary and practical packaging alternative for an extensive selection of hygiene products, such as serums, lotions, and creams. Consumers place significant value on tubes due to their portability, user-friendly design, and straightforward application process, which collectively contribute to their substantial market share in the packaging industry.

The segment known as pumps and dispensers is anticipated to experience the most rapid expansion within the CBD cosmetics packaging industry. Pumps and dispensers ensure an optimal user experience and minimize product waste through their controlled product delivery, which is characterized by an emphasis on sanitation and precise dosage.

The growth of this market segment is anticipated to be propelled in the coming years by the demand for inventive and effective dispensing mechanisms, as consumers place a greater emphasis on sustainability and functionality when it comes to packaging.

Which is the Prominent Source Type Category?

Hemp-driven CBD Products Gain Stronger Traction

The market share of hemp-derived CBD is anticipated to be the largest in the CBD cosmetics industry. CBD derived from hemp is increasingly favored by consumers due to its legal status in numerous regions and the growing demand for natural and sustainable products. The preponderance of the market is attributable to the fact that hemp-derived CBD is associated with holistic wellness, which is consistent with the general trend toward incorporating natural and organic ingredients into cosmetics formulations.

The market segment that is expected to develop at the most rapid rate is natural and organic. The increasing awareness among consumers regarding the constituents of hygiene products has led to a surge in the desire for formulations that incorporate natural and organic elements, such as CBD. This segment exemplifies a more extensive societal transition towards uncontaminated beauty.

With environmentally conscious consumers in search of products that are in line with their principles, the natural and organic CBD skincare sector is poised for a surge in expansion, propelled by the convergence of wellness and sustainability trends.

Top Regional Markets

North America’s Dominance Intact Owing to an Informed Consumer Group, and Rising Acceptance of CBD Utilization

It is anticipated that North America will hold the largest market share of the worldwide CBD cosmetics industry. Numerous elements contribute to this state of dominance. To begin with, North America has emerged as a leader in the legalization and acceptance of CBD usage, particularly in the realm of cosmetic products. A surge in consumer awareness and acceptance of CBD-infused products has been observed, particularly in the US. This trend reflects a larger cultural transition towards wellness and natural alternatives.

The foundation of well-established beauty and skincare sectors in North America, in addition to a resilient infrastructure supporting product development and distribution, serves to reinforce the region's dominant status in the CBD skincare industry. Furthermore, proactive regulatory frameworks in specific North American nations create a favorable atmosphere for the expansion of the CBD cosmetics market, thereby encouraging investment and innovation.

Growing Significance of Hygiene and Wellness Promotes Growth of South Asia, and Oceania

The region of South Asia, and Oceania is anticipated to experience the most rapid expansion in the worldwide CBD skin care industry. This projection is predicated on multiple regionally specific factors. The rise in urbanization and consciousness regarding hygiene and wellness practices in South Asian and Oceanian nations, which is primarily influenced by the expansion of the middle class, establishes the foundation for increased demand.

The anticipated increase in consumer receptiveness towards global beauty and hygiene trends in these regions will likely lead to a significant surge in the adoption of CBD-infused products. Furthermore, the holistic and natural attributes of CBD are in accordance with longstanding wellness customs observed in certain South Asian societies, thereby establishing a cultural connection that may facilitate extensive recognition.

Analyst’s Viewpoint

Presently, the worldwide CBD cosmetics industry is undergoing a period of rapid expansion, propelled by a convergence of elements that highlight evolving consumer inclinations and regulatory advancements. The primary catalyst for market expansion is the growing consciousness among consumers concerning the potential advantages of CBD in cosmetic products. With the increasing awareness among individuals regarding the therapeutic attributes of CBD, there is a developing tendency to integrate these products into their daily hygiene regimens. The consciousness above is augmented by the widespread distribution of knowledge via digital channels and the overarching focus on well-being in traditional media.

The dynamic regulatory framework, notably the increasing acceptance of CBD derived from hemp in different areas, creates a favorable setting for the growth of the market. Manufacturers acquire increased clarity and confidence to allocate resources towards research, development, and marketing of CBD hygiene products as regulatory obstacles continue to diminish. Consequently, this fosters innovation and amplifies the growth potential of the market. The worldwide transition towards comprehensive well-being is a substantial factor in the prosperity of the CBD cosmetics industry.

Today's consumers recognize hygiene not solely as a cosmetic product but rather as an essential component of their holistic health. This trend is in perfect harmony with the natural and therapeutic attributes of CBD, which establishes CBD-infused hygiene products as a holistic remedy for those in search of comprehensive self-care.

In addition, further development of extraction technologies and investigation into innovative CBD derivatives could potentially reveal further possibilities for use in hygiene products. There will probably be a surge in cooperation among CBD suppliers, cosmetic brands, and research institutions to investigate and exploit these opportunities.

To summarize, the CBD skincare market on a global scale represents a convergence of innovation, health, and wellness. The trajectory of the market is greatly influenced by regulatory support, evolving wellness trends, consumer education, and other relevant factors. As a result, stakeholders are confronted with a compelling landscape. Manufacturers who approach this landscape with a dedication to excellence, openness, and advancements that prioritize the needs and desires of consumers are well-positioned to take advantage of the growing prospects in this ever-changing industry.

Supply-side Dynamics

The global CBD skincare market is characterized by the presence of dominant competitors, including well-established brands that have positioned themselves as industry leaders (Charlotte's Web, Kiehl's, and Josie Maran). In terms of market utilization, North America, specifically the United States and Canada, emerges as the dominant region. The United States, renowned for its progressive regulatory climate, has experienced extensive uptake of CBD hygiene products, resulting in a strong foothold in the market.

Consumers in European nations such as the UK, and Germany are increasingly adopting CBD hygiene products due to their natural and holistic attributes. Asia Pacific, which is being led by nations such as Japan, is experiencing a notable upswing in market adoption due to the growing demand among consumers for novel hygiene solutions.

Market leaders are transforming the CBD cosmetics market via strategic initiatives and product innovation. Prominent entities in the industry are making substantial investments in research and development with the aim of improving the effectiveness of their products and tackling specific hygiene issues. Their adherence to evolving regulations, commitment to quality control, and transparency establish industry standards that exert an influence on other participants in the market.

Furthermore, partnerships established between market leaders and CBD suppliers foster a diversified assortment of products, thereby stimulating market expansion. By utilizing digital platforms to educate and engage directly with consumers, these companies are not only broadening their market presence but also shaping consumer opinions and directing the industry toward a future marked by innovation, consumer confidence, and sustainable development.

Competitive Intelligence and Business Strategy

Prominent entities in the intensely competitive global CBD cosmetics industry utilize a variety of tactics to maintain and increase their market portion. These strategies play a crucial role not only in sustaining a competitive advantage but also in influencing the course of the industry.

Prominent competitors place a high value on ongoing product diversification and innovation to meet the changing demands of consumers. The company allocates significant resources towards research and development, capitalizing on scientific progressions to improve the effectiveness of CBD hygiene products. These industry participants maintain a competitive edge by introducing innovative formulations, including CBD-infused serums, masks, and targeted treatments, which provide customers with an extensive selection of remedies for diverse skincare issues.

For dominant competitors, establishing a reputation for quality control and transparency is of the utmost importance. Their CBD hygiene products are produced in strict adherence to the most elevated manufacturing standards, which guarantees that they satisfy rigorous quality criteria. Consumer trust is fostered through the implementation of clear and transparent labeling practices, which encompass details regarding the procurement of CBD and the formulation of the product.

By prioritizing quality, these companies not only set themselves apart from competitors in a saturated market but also cultivate enduring customer allegiance. In essence, dominant actors in the CBD skincare market achieve maximum market share through a strategic combination of innovation, quality assurance, collaboration, digital engagement, and global-local balancing acts. Through consistent adaptation and astuteness to consumer preferences, these entities not only amass a substantial portion of the market but also exert a substantial impact on the trajectory of the industry.

Key Recent Developments

  • New Product Line

The Body Shop introduced its new CBD-infused skincare line in June 2023. Included in the new line are lip balms, body lotions, and face treatments.

Market Impact: It is anticipated that the June 2023 launch of The Body Shop's new line of CBD-infused hygiene products will have a substantial effect on the global market. This advancement represents a well-established brand's entry into the mainstream with regard to CBD in cosmetics, which is expected to impact consumer perceptions and cultivate increased confidence in the effectiveness of products containing CBD. The diversification of product offerings, which includes face treatments, body lotions, and lip balms, further exemplifies the expanding market trend toward CBD skincare product lines that cater to a wide range of consumer skincare requirements.

(Source: Glamour UK)

  • New Product Line

In May 2023, Sephora announced that it would expand its range of hygiene products containing CBD. Given that Sephora is one of the greatest beauty retailers in the world, this is a significant development.

Market Impact: The May 2023 declaration by Sephora regarding the expansion of its assortment of hygiene products infused with CBD holds the potential to influence the worldwide market significantly. With its status as a leading international beauty retailer, Sephora's support, and integration of CBD into its product line indicates that CBD is gaining widespread acceptability in the beauty and skincare sector. This action has the potential to instil greater consumer trust in hygiene products containing CBD, thereby potentially instigating a wider market movement towards the incorporation of CBD into cosmetics and personal care products.

(Source: Real Simple)

CBD Skin Care Market Report Scope

Attribute

Details

Forecast Period

2023 to 2030

Historical Data Available for

2018 to 2022

Market Analysis

US$ Million for Value

Key Regions Covered

  • North America
  • Latin America
  • Europe
  • South Asia & Pacific
  • East Asia
  • The Middle East & Africa  

Key Countries Covered

  • United States
  • Canada
  • Germany
  • United Kingdom
  • France
  • Italy
  • Spain
  • Russia
  • China
  • Japan
  • South Korea
  • India
  • Thailand
  • Malaysia
  • Indonesia
  • Australia
  • New Zealand
  • GCC Countries
  • South Africa  

Key Market Segments Covered

  • Product Type
  • Price Range
  • Packaging Type
  • Source Type
  • Region

Key Companies Profiled

  • Cannuka, LLC
  • CBD For Life
  • Earthly Body
  • Elixinol Global Limited
  • Endoca Company
  • Green Growth Brands
  • Herbivore botanicals
  • IldiPekar Skin Care & Spa
  • Isodiol International Inc
  • Kush Creams
  • Leela Body Care Company

Report Coverage

  • Market Forecast
  • Company Share Analysis
  • Competition Intelligence
  • DROT Analysis
  • Market Dynamics and Challenges
  • Strategic Growth Initiatives  

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CBD Skin Care Market Research Segmentation

By Product Type:

  • Creams
  • Moisturizers and Lotions
  • Balm
  • Lip Balm
  • Eye Balm
  • Serums
  • Face & Body Cleansers
  • Sunscreens
  • Soap
  • CBD Oils
  • Others

By Price Range:

  • Economic

By Packaging Type:

  • Pumps and Dispensers
  • Tubes
  • Jar/ Bottles
  • Sticks
  • Others

By Source Type:

  • Natural & Organic
  • Marijuana Derived CBD
  • Hemp-Derived CBD
  • Synthetic

By Region:

  • North America
  • Europe
  • East Asia
  • South Asia & Oceania
  • Latin America
  • Middle East & Africa

- Companies Covered in This Report -

  • Cannuka, LLC
  • CBD For Life
  • Earthly Body
  • Elixinol Global Limited
  • Endoca Company
  • Green Growth Brands
  • Herbivore botanicals
  • IldiPekar Skin Care & Spa
  • Isodiol International Inc
  • Kush Creams
  • Leela Body Care Company

- Frequently Asked Questions -

The global CBD skin care market has been estimated to see a value CAGR of 22.1% by the end of 2030.

The global CBD skin care market size is around US$3.4 Bn as of 2023.

As of 2023, the US is the largest market in the global CBD skin care industry.

The biggest players in the CBD skin care market include Cannuka, LLC, CBD For Life, Earthly Body, Elixinol Global Limited, Endoca Company, and Green Growth Brands.

The natural and organic segment leads by the type of source, in the CBD skin care market.

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