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Market Forecast
The Global CBD Skincare Products Market is projected to be valued at USD 3.2 Billion by 2025 at a CAGR of 29.1% between 2019 and 2025. The demand for CBD skincare products is increasing with the legalization of cannabis. Consumers across the globe are inclined toward personal care products with natural ingredients to avoid the side effects caused by synthetic ingredients. Around 48% of consumers globally are willing to pay a premium for products with organic and natural ingredients. Increasing awareness of the skin benefiting properties of cannabis is driving the growth of the global CBD skincare products market. The existing players in this market are focusing on product innovation and development. The manufacturers are also adopting strategies for introducing products with various labels such as organic and cruelty-free.
Market USP
Increasing popularity of natural skin care products
Growth Opportunities in the Market
- Widespread use of moisturizers and creams: The moisturizers and creams segment dominated the global CBD skincare products market in 2018 and is expected to remain dominant during the forecast period. Moisturizers and creams are used by men and women on a daily basis to hydrate the skin. The rising prevalence of skin problems such as acne, wrinkles, and dark circles has influenced manufacturers to offer CBD-infused creams to treat skin issues.
- Organic CBD skincare products: Consumers across the globe are adopting organic personal care products. The organic skin care products market accounted for approximately USD 4.5 billion in 2018. High instances of skin sensitivity and increasing awareness of the harmful effects of chemicals on the skin are leading to an increase in the demand for organic skincare products. This is projected to drive the growth of the organic CBD skincare products market during the forecast period.
- Specialty stores a popular channel for CBD skincare product sales: Specialty stores are the preferred choice for consumers buying CBD skincare products. Retailers specializing in the distribution of personal care products are increasing the shelf space for CBD skincare products. In the US, pharmacies have started stocking CBD skincare products as well. However, e-commerce portals are gaining popularity among consumers due to the ease of home shopping and availability of choices, which is expected to result in the non-store-based segment registering the higher CAGR in the coming years.
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Key Players
- L'Oréal S.A. (France)
- Cannuka, LLC (US)
- Elixinol Global Limited (Australia)
- Medical Marijuana Inc. (US)
- Endoca BV (Netherlands)
- Redwood Wellness, LLC (US)
- Leef Organics (US)
- Green Growth Brands (US)
- The CBD Skincare Company (US)
- Kana Skincare (US)
- Vertly Hemp (US)
- Myaderm (US)
- Marijuana Company of America, Inc. (US)
- CBD For Life LLC (US)
- Estée Lauder Companies (US)
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The demand for CBD skincare products is increasing with the legalization of cannabis. Increasing awareness of the skin benefiting properties of cannabis is driving the growth of the global CBD skincare products market. This is projected to drive the growth of the organic CBD skincare products market during the forecast period. Specialty stores a popular channel for CBD skincare product sales: Specialty stores are the preferred choice for consumers buying CBD skin care products. Retailers specializing in the distribution of personal care products are increasing the shelf space for CBD skincare products.
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