Latest News - Cannabidiol (CBD) Skin Care Market: Oils are expected to lead the Type segment during 2024-2028

The Cannabidiol (CBD) Skin Care Market is being driven by Benefits of CBD in skincare

The Cannabidiol (CBD) Skin Care Market is expected to grow at a CAGR of 38.64% during 2023 and 2028. During this period, the market is also expected to show a growth of USD 5023 million. In the CBD skin care market, the surge in collaborations among market players is a significant driver for growth. These strategic alliances expand product offerings, geographic reach, and distribution channels. They also grant access to innovative technologies, resources, and new product lines, bolstering market shares. Consequently, vendors' business expansion broadens customer bases and contributes to the expansion of the global CBD skin care market. 

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Which Factors Are Causing a Surge in Market Growth?

The market is segmented based on

• Type
  • Oils
  • Cream moisturizer and cleanser
  • Mask serum and lotion
• Source
  • Hemp
  • Marijuana
• Geography
  • North America
    • US
    • Canada
  • Europe
    • Germany
    • UK
  • APAC
    • Japan
  • South America
  • Middle East and Africa

According to Technavio, There are several factors that are causing the market to flourish during the forecast period, which are as follows: 

• Benefits of CBD in skincare
• New product launches
• Growth in online sales

However, the market also witnesses some limitations, which are as follows:

• Easy availability of counterfeit products
• High competition among vendors
• Stringent regulations

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Market Scope in Cannabidiol (CBD) Skin Care Market Research Report

Find out which segment is leading the market by accessing the free PDF report

Research Analysis Overview

In the realm of consumer behavior, the non-intoxicating compound, Cannabidiol (CBD), has emerged as a popular ingredient in various skincare products. The production and consumption analysis of CBD oil and related items reveal a significant market growth. CBD, derived from Cannabis plants, interacts with the endocannabinoid system, influencing cognitive functions, memory, mood, and physiological functions. For working professionals with sensitivity to skin irritation, eczema, or psoriasis, CBD skin care products offer potential relief from inflammation and anxiety. These conditions can impact an individual's spending capacity and overall well-being. CBD oil masks, balms, and creams have gained popularity due to their potential benefits for skin care. Regulation of CBD in skincare products is an ongoing process, ensuring the production and consumption of quality products. CBD's potential impact on cognitive functions and mood, in addition to its anti-inflammatory properties, makes it a valuable addition to the skincare market. In summary, the CBD skin care market caters to the needs of consumers seeking relief from various skin conditions and the desire for high-quality, non-intoxicating skincare products.

Market Research Overview

The CBD skin care market encompasses the development and production of CBD-infused personal care products, such as lotions, creams, and cosmetics. According to market analysis, the CBD skin care market size is determined by the collective revenue generated by manufacturers in this sector. Factors fueling market expansion include the rise in disposable income, leading to increased consumer spending on premium wellness and self-care items. Industries are leveraging the products belonging to the market for customer engagement, transactional notifications, and promotional offers.

Technavio Research
Jesse Maida
Media & Marketing Executive
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UK: +44 203 893 3200
Email: media@technavio.com
Website: www.technavio.com/