SAN FRANCISCO, Aug. 29, 2019 /PRNewswire/ -- The global cbd skin care market size is expected to reach USD 1.7 billion by 2025, according to a new report by Grand View Research, Inc., expanding at a CAGR of 32.9% over the forecast period. The healing properties of CBD ingredients are expected to encourage the manufacturers to develop products infused with these ingredients, thereby driving the market in the coming years.
Key suggestions from the report:
The global CBD skin care market is expected to expand at a CAGR of 32.9% from 2019 to 2025, thereby reaching a value of USD 1.7 billion by 2025
North America led the market, accounting for a share of more than 40.0% in 2018, owing to high demand and legalization of cannabis in U.S. and Canada
Hemp based products generated a revenue of USD 147.0 million in 2018
Some of the major players operating in the global market are Kiehl's LLC; Cannuka LLC.; Elixinol Global Limited; Medical Marijuana Inc.; Endoca LL; Lord Jones; VERTLYBALM; Kapu Maku LLC; and Leef Organics.
CBD is considered safe and effective for all skin types, but is particularly useful for people who struggle with sensitivity, inflammatory conditions, acne, and dryness related to skin. Owing to these strong inflammatory properties, CBD helps in skin's natural healing process, lowering the life span of breakouts and eczema flare-ups. CBD also showcases potential antioxidant properties that can help in counteracting signs of aging. It can even help in reducing pain caused by inflammatory skin conditions.
According to the EU cosmetic ingredient database, hempseed oil also acts as a surfactant, cleanser, emollient, and conditioner agent. Hemp molecules are very minute, which further allows it to effectively penetrate the skin and provide effective results. Hemp based products held the largest share of 62.8% in 2018 on account of high fatty acid content of the product. Hemp infused products help in reducing the discomfort by soothing and rejuvenating dry and damaged skin. They also help in controlling aging problems, which is likely to drive the application of this source.
CBD based skin care oils led the market and accounted for a share of 40.9% in 2018. This product type has been gaining an increasing popularity in the personal care market. It is highly beneficial for acne, aging, and wrinkle prone skin conditions due to its anti-inflammatory properties. CBD oil also has antioxidant attributes, which help in reducing the visible signs of aging.
North America led the market in 2018 and is expected to be the fastest growing market in the coming years. Demand for CBD skin care products from North America is expected to remain high due to the presence of a large customer base and legalization of marijuana in U.S. and Canada. Currently, about 33 states in U.S. and District of Colombia have legalized cannabis in U.S., thereby making it the largest market in the world. The legalization and presence of prominent beauty care manufacturers are expected to contribute to the market growth over the next few years.
Grand View Research has segmented the global CBD skin care market on the basis of source, type, and region:
CBD Skin Care Source Outlook (Revenue, USD Million, 2015 - 2025)
CBD Skin Care Type Outlook (Revenue, USD Million, 2015 - 2025)
Creams & Moisturizers
Masks & Serums
CBD Skin Care Regional Outlook (Revenue, USD Million, 2015 - 2025)
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About Grand View Research
Grand View Research, U.S.-based market research and consulting company, provides syndicated as well as customized research reports and consulting services. Registered in California and headquartered in San Francisco, the company comprises over 425 analysts and consultants, adding more than 1200 market research reports to its vast database each year. These reports offer in-depth analysis on 46 industries across 25 major countries worldwide. With the help of an interactive market intelligence platform, Grand View Research helps Fortune 500 companies and renowned academic institutes understand the global and regional business environment and gauge the opportunities that lie ahead.