JERSEY CITY, N.J., March 2, 2023 /PRNewswire/ — The global CBD Skin Care Market is projected to grow at a CAGR of 32.8% from 2021 to 2028, according to a new report published by Verified Market Research®. The report reveals that the market was valued at USD 387.6 Million in 2020 and is expected to reach USD 3749.46 Million by the end of the forecast period.
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Browse in-depth TOC on “CBD Skin Care Market“
202 – Pages
126 – Tables
37 – Figures
Global CBD Skin Care Market Overview
CBD skin care products are taking the beauty industry by storm, with key players such as Cannuka LLC., Kiehl’s LLC, Elixinol Global Limited, Leef Organics, Medical Marijuana Inc., Lord Jones, Endoca LL, VERTLYBALM, Kapu Maku LLC, and The CDB Skincare Co leading the market with their innovative products. The market size of the CBD skin care industry is expected to grow significantly, with a CAGR of over 32.8% during the forecast period (2021-2028).
Companies are focusing on key development strategies such as product innovation, mergers and acquisitions, and collaborations to expand their market share. CBD, short for cannabidiol, is a non-intoxicating compound that is derived from marijuana or hemp plants. This unique ingredient is mixed with various oils such as coconut oil, olive oil, or hemp oil to enhance its effectiveness. CBD has several benefits for the skin, including its antioxidant, anti-inflammatory, and skin-soothing properties.
Because of its unique benefits, CBD is now used in a wide range of skin care products, including high-quality oils, creams, cleansers, and more. The demand for CBD skin care products has greatly assisted the market in terms of expansion. Youngsters in emerging countries have shown a higher demand for CBD skin care products due to their higher awareness of fashion.
During the forecast period, wider applications of CBD in skin care products are expected to boost the market for CBD skin care products even further. With more companies investing in research and development, CBD skin care products are expected to become even more innovative and effective in the coming years. Overall, the market for CBD skin care products is growing rapidly, and consumers are increasingly looking for natural and effective solutions for their skin care needs.
Based on the research, Verified Market Research® has segmented the global CBD Skin Care Market into Source, Type, And Geography.
- CBD Skin Care Market, by Source
- CBD Skin Care Market, by Type
- Creams & Moisturizers
- Masks & Serums
- CBD Skin Care Market, by Geography
- North America
- Rest of Europe
- Asia Pacific
- Rest of Asia Pacific
- Middle East & Africa
- Latin America
- North America
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