CBD Skincare Market

2020 Analysis and Review of CBD Skincare Market by Product Type – Creams, Moisturizers and Lotions, Serums, Face & Body Cleansers, Sunscreens, Soaps, CBD Oils, and Balm for 2020 – 2030

CBD Skin Care Market - Key Research Findings

  1. Global CBD skin care market size in 2017 - nearly US$ 370 Mn
  2. Global CBD skin care market revenue to expand at a CAGR of over 33% between 2019 and 2027
  3. Introduction of the Agriculture Improvement Act (2018) in the US to Boost CBD Skin Care Market Growth
    • In recent times, a new trend has been observed in the market that involves growing consumer interest in cannabis-derived skin care products that include Cannabidiol (CBD). A new law Agriculture Improvement Act of 2018 was introduced in last quarter of the fiscal year of 2018. The Act recommends certain changes, such as removing hemp from the Controlled Substances Act, which means that hemp will no longer be an illegal substance under the US Federal Law.
  4. North America to remain the largest regional market for CBD skin care products
    • North America, the largest consumer base for CBD skin care products and services providers, will continue to represent the most lucrative market for CBD skin care through 2027.
    • Availability of hemp-derived CBD skin care products is estimated to direct substantial revenue to the CBD skin care market. Legalization of cultivation and sales of cannabis-based products within North America will prominent foster growth of CBD skin care market in the region.
  5. CBD skin care oils to remain highly preferred CBD skin care product
    • CBD oils have been gaining popularity in the CBD skin care market owing to convenience of application and other functional attributes such as anti-aging and acne scars removal.
    • CBD skin care moisturizers and creamsface masks, and hair serums are also estimated to witness sustained adoption among a sizable consumer base.

Top Two Factors Shaping the CBD Skin Care Market

Benefits Offered by CBD Skin Care Products that Accelerate Treatment Outcome of Various Skin Conditions to Contribute to Market Growth

The global market for CBD skin care is witnessing growth due to the ability of these products to treat various skin conditions. Growing awareness about the benefits of CBD skin care products has boosted their adoption by the personal care industry. CBD is used for the treatment of skin care conditions such as dry skin, psoriasis, eczema, and acne. According to FMI, this is expected to remain a key factor driving the demand for CBD skin care at the global level.

Cannabis Is Still Illegal in Various Target Areas of CBD Skin Care Products

Among the types of CBD skin care products, hemp-derived CBD skin care segment accounted for just-under 60% of the global CBD skin care market value in 2017, which is likely to increase at a bullish CAGR of more than 37% over 2019-2027.

Cannabis-derived CBD skin care range will however continue to face gradual demand growth owing to limited regional availability. The report has attributed this challenge to the illegal aspects associated with cannabis cultivation and usage, across several regions.

CBD Skin Care Market Structure Analysis

  • The global CBD skin care market represents a consolidated competition landscape, wherein Tier 1 & Tier 2 companies hold more than 50% revenue share.
  • Some of the most prominent companies in the CBD skin care market include Elixinol Global Limited, Medical Marijuana Inc., Fab CBD Company, and Endoca LLC. A majority of these players are likely to invest strategic efforts in the legalization of cannabis-based products across different regional markets.
  • According to the report, introduction of innovative and competitively priced products in the CBD skin care market will be an important developmental strategy adopted by companies targeting untapped developing regional markets.
  • Leading players in the CBD skin care market are also concentrating on introducing CBD-based products in their existing product portfolio to reach new customers, along with expanding their distribution channel and online sales presence.
  • Cost-competitiveness will remain a strong differentiation strategy across the competitive landscape of global CBD skin care market.

Key Segment

Based on product type

  • CBD oil
  • serums
  • creams & moisturizers
  • cleansers
  • sunscreens
  • other products

Based on Sales Channel

  • hypermarkets/supermarkets
  • drug stores & pharmacies
  • specialty outlets
  • online retailers
  • others

Based on product type

  • CBD oil
  • serums
  • creams & moisturizers
  • cleansers
  • sunscreens
  • other products

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CBD Skincare Market