CBD Skin Care Product Market to Reach US$ 9.03 Billion by 2031, Growing at a CAGR of 5.6%
The global CBD Skin Care Product Market, valued at US$ 5.84 billion in 2023, is anticipated to reach US$ 9.03 billion by 2031, exhibiting a steady compound annual growth rate (CAGR) of 5.6% during the forecast period from 2024 to 2031. This growth is driven by increasing consumer awareness about the therapeutic benefits of CBD (cannabidiol) in skincare products and the growing trend towards natural and organic skincare solutions.
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Market Dynamics
The CBD Skin Care Product Market is experiencing robust growth due to:
- Rising Demand for Natural Ingredients: Growing consumer preference for skincare products derived from natural sources like CBD, known for its anti-inflammatory, antioxidant, and soothing properties.
- Expanding Legalization of CBD: Increasing legalization of cannabis-derived products in several regions, leading to a broader availability of CBD-based skincare products.
- Product Innovation: Continuous innovation by manufacturers in formulations and product offerings to cater to specific skincare concerns such as acne, aging, and sensitive skin.
Key Segments
- By Product Type: Includes moisturizers, serums, cleansers, masks, and others infused with CBD, targeting various skincare needs and preferences.
- By Distribution Channel: Covers online retail, specialty stores, pharmacies, and supermarkets where CBD skincare products are increasingly available and accessible to consumers.
Regional Insights
- North America: Leads the CBD skincare market due to early adoption of CBD products, favorable regulatory environment in several states, and high consumer awareness.
- Europe: Follows, with increasing consumer acceptance of CBD skincare products amidst stringent regulatory frameworks and growing interest in wellness-oriented skincare solutions.
- Asia Pacific: Represents a growing market driven by rising disposable incomes, changing consumer perceptions towards natural skincare products, and increasing availability through e-commerce platforms.
Competitive Landscape
The CBD Skin Care Product Market is competitive with key players focusing on product differentiation, brand positioning, and strategic partnerships to expand their market presence.
Key Players
Leading companies in the CBD Skin Care Product Market include:
- Cannuka LLC
- Lord Jones
- Josie Maran Cosmetics
- Kiehl’s LLC
- Vertly
- CBD For Life
- Elixinol Global Limited
- Charlotte’s Web Holdings, Inc.
- Myaderm
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Table of Content
Chapter 1 Introduction
Chapter 2 Research Methodology
Chapter 3 CBD Skin Care Product Market Dynamics
Chapter 4 Impact Analysis (COVID-19, Ukraine- Russia war, Ongoing Recession on Major Economies)
Chapter 5 Value Chain Analysis
Chapter 6 Porter’s 5 forces model
Chapter 7 PEST Analysis
Chapter 8 CBD Skin Care Product Market Segmentation, By Product Type
Chapter 9 CBD Skin Care Product Market Segmentation, By Distribution Channel
Chapter 10 CBD Skin Care Product Market – Regional Analysis
Chapter 11 Company profile
Chapter 12 Competitive Landscape
Chapter 13 Use Case and Best Practices
Chapter 14 Conclusion
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