CBD Skin Care Products Market Growth Analysis (2023-2028)

CBD Skin Care Products Market Growth Analysis (2023-2028)

CBD Skin Care Products Market Growth Analysis (2023-2028)
Report code - SRHL330 Delivery - 2 Weeks
CBD Skin Care Products Market Size, Share, Trends, Dynamics, Forecast, & Growth Analys See more...

Market Insights

"The global CBD skin care products market size was estimated at USD 1079.74 million in 2022 and is likely to grow at a CAGR of 27.99% during 2023-2028 to reach USD 4858.59 million in 2028."

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CBD skincare products can be defined as skincare products that are made using cannabidiol (CBD) ingredients. CBD is derived from the cannabis plant. It is being used in skincare products to treat various skin disorders such as dryness and itching. CBD possesses anti-inflammatory properties which help to reduce triggers of eczema, psoriasis, and dermatitis.

CBD Skin Care Products Market Report Overview

Market Size in 2028

USD 4858.59 million

Market Size in 2022

USD 1079.74 million

Market Growth (2023-2028)

27.99% CAGR

Base Year of Study

2022

Trend Period

2017-2021

Forecast Period

2023-2028

Market Dynamics

Market Drivers

The global market growth is primarily driven by the increasing usage of CBD in skincare products with rising consumer awareness about its benefits.

  • It possesses antioxidant properties which help in counteracting aging signs.
  • Thus, increasing demand for anti-aging skincare products is likely to add to the market growth substantially.
  • Growing emphasis on the development of new skincare products using CBD as an ingredient is likely to propel the market growth further.
  • The growing popularity of CBD skincare products in developing countries is likely to create lucrative opportunities for the market players during the review period.

COVID-19 Impact

The global beauty & personal care industry has been hit hard due to the outbreak of coronavirus. The outbreak resulted in the enforcement of lockdown which affects the supply chain and manufacturing of cosmetics. Also, consumer spending on cosmetics declined during the lockdown period. However, online sales of the product increased during the pandemic post-lift of lockdown.

Segment Analysis

Segmentations

List of Sub-Segments

Dominant and Fastest-Growing Segments

Type Analysis

Oil, Serums, Moisturizers & Cream, Cleansers, Sunscreens, Others

The CBD-based skincare oil segment accounted for the largest market share of more than 35% in 2020.

Regional Analysis

North America, Europe, Asia-Pacific, and Rest of the World

North America is projected to register significant growth during the review period.

By Type

"The oil segment accounted for the largest market share."

The market has been divided into oil, serums, moisturizers & creams, cleansers, sunscreens, and others. The CBD-based skincare oil segment accounted for the largest market share of more than 35% in 2022. The segment growth can be attributed to its anti-inflammatory and antioxidant properties which help to treat various skin-related conditions such as aging and wrinkles.

Regional Insights

"North America accounted for the largest market share."

The market in North America accounted for the largest share in 2022 and is projected to register significant growth during the review period. The regional market growth can be attributed to the high adoption rate of CBD-based products coupled with the legalization of marijuana and the presence of various key market players such as Cannuka, LLC (The U.S) and CBD Skincare. co (The U.S). The market in the Asia-Pacific region is projected to register the fastest growth rate on account of rising consumer awareness about the benefits of CBD-based skincare products.

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Critical Questions Answered in the Report

  • What are the key trends in the global market?
  • How the market (and its various sub-segments) has grown in the last five years and what would be the growth rate in the next five years?
  • What is the impact of COVID-19 on the global market?
  • What are the key strategies adopted by the major vendors to lead in the market?
  • What is the market share of the top vendors?

Key Players

The following are the key players in the CBD skin care products market (arranged alphabetically).

  • Cannuka, LLC (The U.S),
  • CBD for Life (The U.S),
  • Earthly Body, Inc. (The U.S),
  • Elixinol Global Limited (Australia)
  • Endoca LLC (The U.S),
  • Josie Maran Cosmetics (The U.S),
  • Kapu Maku LLC. (The U.S),
  • Kiehl's LLC (The U.S),
  • LEEF Organics (The U.S),
  • Lord Jones (Redwood Wellness, LLC), (The U.S),
  • Myaderm (The U.S), and
  • The CBD Skincare.co (The U.S).

Note: The above list does not necessarily include all the top players in the market.

Are you the leading player in this market? We would love to include your name. Write to us at sales@stratviewresearch.com

Report Features

This report provides market intelligence in the most comprehensive way. The report structure has been kept such that it offers maximum business value. It provides critical insights into the market dynamics and will enable strategic decision-making for the existing market players as well as those willing to enter the market.

What Deliverables Will You Get in this Report?

Key questions this report answers

Relevant contents in the report

How big is the sales opportunity?

In-depth Analysis of the CBD Skin Care Products Market

How lucrative is the future?

Market forecast and trend data and emerging trends

Which regions offer the best sales opportunities?

Global, regional, and country-level historical data and forecasts

Which are the most attractive market segments?

Market Segment Analysis and Forecast

Which are the top players and their market positioning?

Competitive landscape analysis, Market share analysis

How complex is the business environment?

Porter’s five forces analysis, PEST analysis, Life cycle analysis

What are the factors affecting the market?

Drivers & challenges

Will I get the information on my specific requirements?

10% free customization

The market is segmented into the following categories.

By Source Type

  • Hemp
  • Marijuana

By Type

  • Oil, Serums
  • Moisturizers & Cream
  • Cleansers
  • Sunscreens
  • Others

By Distribution Channel Type

  • Online
  • Offline

By Region

  • North America (Country Analysis: the USA, Canada, and Mexico)
  • Europe (Country Analysis: Germany, France, the UK, Russia, Spain, and the Rest of Europe)
  • Asia-Pacific (Country Analysis: China, Japan, India, South Korea, and the Rest of Asia-Pacific)
  • Rest of the World (Sub-Region Analysis: Latin America, the Middle East, and Others)

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Research Methodology

This strategic assessment report, from Stratview Research, provides a comprehensive analysis that reflects today’s CBD skin care products market realities and future market possibilities for the forecast period. The report segments and analyzes the market in the most detailed manner in order to provide a panoramic view of the market. The vital data/information provided in the report can play a crucial role for the market participants as well as investors in the identification of the low-hanging fruits available in the market as well as to formulate the growth strategies to expedite their growth process.

This report offers high-quality insights and is the outcome of a detailed research methodology comprising extensive secondary research, rigorous primary interviews with industry stakeholders, and validation and triangulation with Stratview Research’s internal database and statistical tools. More than 1000 authenticated secondary sources, such as company annual reports, fact books, press releases, journals, investor presentations, white papers, patents, and articles, have been leveraged to gather the data. We conducted more than 15 detailed primary interviews with the market players across the value chain in all four regions and industry experts to obtain both qualitative and quantitative insights.

Customization Options

Stratview Research offers one of the following free customization options to our respectable clients:

Company Profiling

  • Detailed profiling of additional market players (up to three players)
  • SWOT analysis of key players (up to three players)

Competitive Benchmarking

Benchmarking of key players on the following parameters: Product portfolio, geographical reach, regional presence, and strategic alliances.

Custom Research: Stratview Research offers custom research services across sectors. In case of any custom research requirement related to market assessment, competitive benchmarking, sourcing and procurement, target screening, and others, please send your inquiry to sales@stratviewresearch.com.

Frequently Asked Questions (FAQs)

CBD skincare products can be defined as skincare products that are made using cannabidiol (CBD) ingredients. CBD is derived from the cannabis plant. It is being used in skincare products to treat various skin disorders such as dryness and itching. CBD possesses anti-inflammatory properties which help to reduce triggers of eczema, psoriasis, and dermatitis.

The CBD skin care products market was estimated at USD 1079.74 million in 2022.

The CBD skin care products market is likely to reach USD 4858.59 million in 2028.

The CBD skin care products market is likely to grow at a CAGR of 27.99% during 2023-2028.

Increasing usage of CBD in skincare products with rising consumer awareness about its benefits, increasing demand for anti-aging skincare products, and growing popularity of CBD skincare products in developing countries are the factors driving the growth of the market.

The CBD-based skincare oil segment accounted for the largest market share of more than 35% in 2022.

Asia-Pacific is expected to register the fastest growth in the market during the next five years.

Cannuka, LLC (The U.S), CBD for Life (The U.S), Earthly Body, Inc. (The U.S), Endoca LLC (The U.S), Josie Maran Cosmetics (The U.S), Kapu Maku LLC. (The U.S), Kiehl's LLC (The U.S), LEEF Organics (The U.S), Lord Jones (Redwood Wellness, LLC), (The U.S), Myaderm (The U.S), The CBD Skincare.co (The U.S) and Elixinol Global Limited (Australia) are among the key players in the market.