CBD Skin Care Market To Record Double Digit Growth Over 2020-2026 – Zion Market Research
Zion Market Research has published a new report titled “CBD Skin Care Market Report by Source (Hemp, and Marijuana), by Type (Oils, Creams & Moisturizers, Masks & Serums, and Cleansers): Global Industry Perspective, Comprehensive Analysis, and Forecast, 2018 – 2026.” According to the report, the CBD Skin Care Market accounted for USD 230 Million in 2018 and is expected to reach USD 1934.6 Million by 2026, growing at a CAGR of around 30.5% between 2019 and 2026.
The global CBD skin care market is anticipated to observe noticeable growth over the years. Cannabidiol also known as CBD, is the non-intoxicating component of hemp plants or marijuana. There is immense potential in the market owing to the increasing demand and several properties such as anti-anxiety properties, pain-relieving and relaxing. Across the entire beauty spectrum, the CBD or cannabidiol is creating attention as a wellness ingredient and luxury beauty. This is due to the use of cannabidiol or CBD for the skin care treatments such as dry skin, psoriasis, eczema, and acne. This is considered to be the major factor that is driving the global CBD skin care market within the forecast period. In addition, the increasing awareness pertaining to the benefits of CBD infused personal care products is projected to upsurge the global CBD skin care market.
The global CBD skin care market has been segmented on the basis of the source and type. In terms of source, the global CBD skin care market is divided into marijuana and hemp. Among all these sources, the Hemp-based skin care segment is likely to have a maximum market share within the forecast period. This is due to the high fatty acid content. The hemp-infused skin care products help provides soothing for damaged and dry skin. It also helps to control aging problems, which is anticipated to propel the segment. Some of the hemp-based skin care products are Origins hemp-based hydrating face mask, Hempme Organic Face Cream, and Kiehl’s cannabis sativa seed oil.
Moreover, the marijuana-infused skin care segment is also projected to grow at a noticeable rate within the forecast period. On the basis of type, the global CBD skin care market is segmented into oils, masks & serums, cleansers, and creams & moisturizers. Among all these types, the CBD based skin care oils segment is likely to higher demand within the forecast period. This is due to the growing demand and popularity from the personal care industry, owing to its anti-inflammatory and antioxidant properties that help in reducing the visible signs of aging. The masks & serums skin care segment is projected to grow at a noteworthy rate within the forecast timeframe owing to the rising demand for serums and facial mask sheets.
The key players operating in the global market are Cannuka LLC.; Elixinol Global Limited; Kiehl’s LLC; Endoca LL; Lord Jones; VERTLYBALM; Medical Marijuana Inc.; Kapu Maku LLC; and Leef Organics. These companies are constantly emphasizing on new product launches and expansion of the distribution channel to gain a competitive advantage and prominent visibility among the consumers.
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