CBD Skin Care Market

Global CBD Skin Care Market:

The global CBD skin care market size reached US$ 1.6 Billion in 2023. Looking forward, IMARC Group expects the market to reach US$ 7.4 Billion by 2032, exhibiting a growth rate (CAGR) of 18.33% during 2024-2032. The increasing shift towards natural and organic beauty, ongoing product innovations, e-commerce expansion, and increased research and development are primarily driving the market's growth.

CBD Skin Care Market Analysis:

• Major Market Drivers: The growing awareness among the masses about the benefits of CBD skin care products across the globe is creating a positive outlook for the market. In line with this, the strong inflammatory properties of CBD help lower the life span of breakouts and eczema flare-ups while promoting the skin’s natural healing process, which, in turn, is favoring the market growth.
• Key Market Trends: The growing focus on minimizing production costs and introducing sustainable methods for the development of CBD skin care products to ensure optimum and judicious use of resources is providing an impetus to the CBD skin care market share. Moreover, the widespread product utilization, as it helps in the proper functioning of the endocannabinoid system responsible for balancing various crucial functions of the skin, including oil production and melanocyte production, is positively influencing the market growth.
• Competitive Landscape: Some of the prominent CBD skin care market companies include Aurora Cannabis Inc., Cannuka LLC, Canopy Growth Corporation, Curaleaf Holdings Inc., Dixie Brands Inc., Earthly Body, Elixinol Wellness Limited, High Tide Inc., Kapu Maku LLC (Populum), Kiehl's LLC (L'Oréal S.A.), Lord Jones, Medical Marijuana Inc., and Myaderm, among many others.
• Geographical Trends: According to the CBD skin care market dynamics, consumers in North America are well aware of the benefits of CBD, especially its use in natural beauty and skin care products. A growing focus on wellness, coupled with increased disposable income, has made North America a prominent market. Moreover, European consumers are increasingly favoring natural, organic, and eco-friendly beauty products, and CBD fits into this trend.
• Challenges and Opportunities: The high competition among new and established brands and the rising compliance costs are hampering the market's growth. However, the CBD skin care market offers opportunities for innovation in product formats and formulations. Brands are expanding beyond basic creams and oils to offer CBD-infused face masks, serums, sunscreens, and even CBD-enriched anti-aging products.
   

CBD Skin Care Market Trends:

Expanding Skin care Products Industry

The expansion of skin care products industry has significantly contributed to the market's growth. For instance, according to IMARC, the global skin care products market size reached US$ 159.7 Billion in 2023. Looking forward, IMARC Group expects the market to reach US$ 230.1 Billion by 2032, exhibiting a growth rate (CAGR) of 4% during 2024-2032. As consumers continue to prioritize natural, wellness-oriented products, CBD has emerged as a popular ingredient due to its anti-inflammatory, antioxidant, and hydrating properties in skin care products. These factors are expected to propel the CBD skin care market share in the coming years.

Increasing Demand for Natural Skin care

Consumers are increasingly shifting away from synthetic ingredients in favor of natural, organic, and plant-based skin care. For instance, according to a survey by the Federation of Indian Chambers of Commerce & Industry (FICCI), more than 70% of consumers prefer natural beauty products over synthetic ones. CBD fits into this trend as it is derived from the cannabis plant and marketed as a natural skin care ingredient. These factors further positively influence the CBD skin care market share.

Product Innovations

Companies are investing in R&D to develop more effective formulations, such as CBD serums, creams, lotions, and masks, designed for various skin types and conditions. For instance, in March 2024, Yon-Ka Paris launched a new phyto-aromatic solution enhanced with CBD to treat stress and poor sleep. The new range includes a night serum called Serum CBD, which is designed to address stress-related skin damage, as well as a calming massage to relieve tension and promote peaceful sleep, thereby boosting the CBD skin care market revenue.

Global CBD Skin Care Industry Segmentation:

IMARC Group provides an analysis of the key trends in each segment of the global CBD skin care market report, along with forecasts at the global, regional, and country levels from 2024-2032. Our report has categorized the market based on product type, source, price range, and distribution channel.

Breakup by Product Type:

• Oils
• Lotion and Creams
• Masks and Serums
• Bath and Soaps
• Others
   

The report has provided a detailed breakup and analysis of the CBD skin care market based on the product type. This includes oils, lotion and creams, masks and serums, bath and soaps, and others. 

According to the CBD skin care market outlook, CBD oils are popular due to their versatility. They can be used for direct skin application, massage, or even mixed with other products for added benefits. Moreover, CBD-infused lotions and creams are in high demand, especially for daily moisturization routines. These products are often formulated to deliver long-lasting hydration, combat dry skin, and reduce signs of aging. Besides this, CBD-infused lotions and creams are in high demand, especially for daily moisturization routines. These products are often formulated to deliver long-lasting hydration, combat dry skin, and reduce signs of aging. Furthermore, the demand for CBD bath bombs, salts, and soaps is increasing due to the growing popularity of self-care and wellness routines.

Breakup by Source:

• Hemp
• Marijuana
   

The report has provided a detailed breakup and analysis of the CBD skin care market based on the source. This includes hemp and marijuana.

According to the CBD skin care market overview, consumers prefer hemp-derived CBD in skin care because it contains very low levels of THC (less than 0.3%), meaning it does not have psychoactive effects. This makes it appealing for a wide range of users, including those who may have concerns about drug testing or psycho-activity. Moreover, marijuana-derived CBD, often seen as a premium ingredient in areas where marijuana is fully legal, is used in luxury skin care products. These products are marketed as offering a more potent or holistic experience, combining both THC and CBD for maximum skin care benefits. This appeal to niche, high-end consumers is driving demand in certain segments.

Breakup by Price Range:

• Economic
• Premium
   

The report has provided a detailed breakup and analysis of the CBD skin care market based on the price range. This includes economic and premium.

Economic CBD skin care products are designed to cater to a broader audience, including younger consumers and those new to CBD products. The affordability makes these products more accessible to individuals who want to experience the potential benefits of CBD without a significant financial commitment. Moreover, premium CBD skin care products target consumers looking for luxury, performance, and exclusivity. These consumers are willing to pay more for products that promise anti-aging, skin rejuvenation, and advanced skin care benefits, often combined with high-quality or rare ingredients like peptides, hyaluronic acid, retinol, and luxury plant extracts.

Breakup by Distribution Channel:

• Hypermarkets and Supermarkets
• Departmental Stores
• Online Stores
• Retail Pharmacies
• Others
   

The report has provided a detailed breakup and analysis of the CBD skin care market based on the distribution channel. This includes hypermarkets and supermarkets, departmental stores, online stores, retail pharmacies, and others.

Hypermarkets and supermarkets are highly frequented by a wide range of consumers for everyday purchases. The availability of CBD skin care products in these stores offers the convenience of picking up beauty products during routine shopping trips. Moreover, departmental stores typically cater to consumers looking for mid-range to premium skin care products. In this retail channel, CBD skin care products are positioned as part of a luxury or wellness routine, often combining CBD with other high-end ingredients like antioxidants or hyaluronic acid. Besides this, online stores provide consumers with a wider selection of CBD skin care products than physical stores, offering everything from budget-friendly options to luxury brands. This vast array of choices appeals to a diverse consumer base.

Breakup by Region:

• North America
  • United States
  • Canada
• Asia-Pacific
  • China
  • Japan
  • India
  • South Korea
  • Australia
  • Indonesia
  • Others
• Europe
  • Germany
  • France
  • United Kingdom
  • Italy
  • Spain
  • Russia
  • Others
• Latin America
  • Brazil
  • Mexico
  • Others
• Middle East and Africa
   

The report has also provided a comprehensive analysis of all the major regional markets, which include North America (the United States and Canada); Europe (Germany, France, the United Kingdom, Italy, Spain, Russia, and others); Asia Pacific (China, Japan, India, South Korea, Australia, Indonesia, and others); Latin America (Brazil, Mexico, and others); and the Middle East and Africa.

According to the CBD skin care market statistics, North America is a prominent market for CBD skin care, particularly the U.S. and Canada. The demand is driven by high consumer awareness, a well-established skin care industry, and increasing acceptance of cannabis and its derivatives in the wellness and beauty sectors. Moreover, Europe is experiencing a surge in demand for CBD skin care products, largely fueled by increasing consumer awareness of natural beauty solutions and wellness trends. The market is further buoyed by the region's robust beauty and skin care industries.

Competitive Landscape:

The market research report has provided a comprehensive analysis of the competitive landscape. Detailed profiles of all major market companies have also been provided. Some of the key players in the market include: 

• Aurora Cannabis Inc.
• Cannuka LLC
• Canopy Growth Corporation
• Curaleaf Holdings Inc.
• Dixie Brands Inc.
• Earthly Body
• Elixinol Wellness Limited
• High Tide Inc.
• Kapu Maku LLC (Populum)
• Kiehl's LLC (L'Oréal S.A.)
• Lord Jones
• Medical Marijuana Inc.
• Myaderm
   

(Please note that this is only a partial list of the key players, and the complete list is provided in the report.)

CBD Skin Care Market Recent Developments:

• June 2024: NOW, a natural products manufacturer, developed CBD Balm, CBD Massage Oil, and CBD Joint & Muscle Cream, all of which are designed with broad spectrum hemp and a variety of botanical components that strengthen muscles, joints, and skin.
• March 2024: Yon-Ka Paris launched a new phyto-aromatic solution enhanced with CBD to treat stress and poor sleep. The new range includes a night serum called Serum CBD, which is designed to address stress-related skin damage, as well as a calming massage to relieve tension and promote peaceful sleep.
• February 2024: Jublee, a Quebec-based cannabis manufacturer known for its delicacies, introduced topical treatments. Jublee's latest CBD skin care collection includes body butters and bath salts.

CBD Skin Care Market Report Scope:

Key Questions Answered in This Report:

• How has the global CBD skin care market performed so far and how will it perform in the coming years?
• What has been the impact of COVID-19 on the global CBD skin care market?
• What are the key regional markets?
• What is the breakup of the market based on the product type?
• What is the breakup of the market based on the source?
• What is the breakup of the market based on the price range?
• What is the breakup of the market based on the distribution channel?
• What are the various stages in the value chain of the industry?
• What are the key driving factors and challenges in the industry?
• What is the structure of the global CBD skin care market and who are the key players?
• What is the degree of competition in the industry?

Key Benefits for Stakeholders:

• IMARC's report offers a comprehensive quantitative analysis of various market segments, historical and current market trends, market forecasts, and dynamics of the CBD skin care market from 2018-2032.
• The research study provides the latest information on the market drivers, challenges, and opportunities in the global CBD skin care market.
• The study maps the leading, as well as the fastest-growing, regional markets. It further enables stakeholders to identify the key country-level markets within each region.
• Porter's five forces analysis assists stakeholders in assessing the impact of new entrants, competitive rivalry, supplier power, buyer power, and the threat of substitution. It helps stakeholders to analyze the level of competition within the CBD skin care industry and its attractiveness.
• The competitive landscape allows stakeholders to understand their competitive environment and provides insight into the current positions of key players in the market.