The global CBD skin care market is anticipated to register a CAGR of 27.13% during the forecast period of 2020-2028
NEW YORK, April 23, 2020 /PRNewswire/ --
KEY FINDINGS
The global CBD skin care market is anticipated to register a CAGR of 27.13% during the forecast period of 2020-2028. The factors surging market growth are high demand for natural skin care products, increasing health awareness, and multi-functional properties of CBD infused skin care products.
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MARKET INSIGHTS
CBD, known as cannabidiol, is a chemical compound extracted from the Cannabis sativa plant, also known as marijuana or hemp plant.It is extracted in the form of powder and mixed with different types of oil to increase its effectiveness.
CBD based products possess anti-inflammatory, antioxidant, and skin-soothing properties.These products are gaining popularity due to their unique calming and stress relieving properties.
CBD has the potential to provide relief in skin diseases and sleep disorders.These multi-functional attributes are boosting the demand for these products.
CBD infused skin care products are largely regulated by authorities due to its THC content. These regulatory impositions from government authorities restrict the growth of these products in developed regions. The market is highly fragmented, which is expected to increase during the forecast period. CBD oils captured the largest market share in 2019, as CBD oils in skin care products are beneficial for a wide range of applications.
REGIONAL INSIGHTS
The growth rate of the global CBD skin care market is analyzed geographically by segregating the market into North America, Europe, Asia Pacific, and the Rest of the World.The region of North America holds the largest market share as of 2019 and continues the trend until the end of the forecast period.
The extensive use of cannabis by the leading market players in the production of skin care products is fueling the market growth.
COMPETITIVE INSIGHTS
The market benefits from the presence of several big players and technological innovations to introduce new and improved products. Some of the well-established market players include The CBD Skincare Company, Kiehl's LLC, Elixinol Global Limited, Cronos Group Inc, etc.
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• Market forecasts for a minimum of 9 years, along with 3 years of historical data for all segments, sub-segments, and regions
• Market Segmentation cater to a thorough assessment of key segments with their market estimations
• Geographical Analysis: Assessments of the mentioned regions and country-level segments with their market share
• Key analytics: Porter's Five Forces Analysis, Vendor Landscape, Opportunity Matrix, Key Buying Criteria, etc.
• Competitive landscape is the theoretical explanation of the key companies based on factors, market share, etc.
• Company profiling: A detailed company overview, product/services offered, SCOT analysis, and recent strategic developments
Companies mentioned
1. CANNUKA LLC
2. CRONOS GROUP INC
3. ELIXINOL ASIA PACIFIC LIMITED
4. ENDOCA BV
5. FAB CBD
6. ISODIOL INTERNATIONAL INC.
7. JOY ORGANICS
8. KAPU MAKU LLC (POPULUM)
9. KHIRON LIFE SCIENCES CORP
10. KIEHL'S LLC (ACQUIRED BY L'ORÉAL)
11. LEEF ORGANICS LTD
12. MEDICAL MARIJUANA INC
13. THE CBD SKINCARE COMPANY
14. VERTLYBALM
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