- CBD (Cannabidiol) is a non-alcoholic extract of the hemp plant. In 2018, the hemp plant was officially recognized as an agricultural crop. Hemp plant is similar to the marijuana plant and both the plants are part of cannabis. However, hemp plants comprise up to 0.3% THC called the psychoactive ingredient. If a CBD plant’s THC level is more than 0.3%, then it is classified as a marijuana plant.
Key Drivers of the Global CBD Skin Care Market
- Rise in disposable income over the years is anticipated to boost the demand for CBD skin care, which includes high quality oil, cream, cleanser, and other products. Increase in fashion awareness among the youth in emerging economies is projected to propel the demand for CBD skin care products in tier-II and tier-III metropolises.
- In terms of dealing with increasing inflammatory conditions, CBD is helpful in reducing sebum production clinically, reduces inflammation on a cellular level, reduces redness, and suppresses itch. Moreover, CBD helps in lowering the duration of breakouts and aids the skin’s natural healing process. CBD also helps to bring down pain caused by inflammatory skin conditions. These factors are anticipated to drive the demand for CBD skin care products in the near future.
CBD an Illegal Market in Some Regions – A Major Restraint
- CBD is still an illegal market in several countries and therefore continues to face slow demand growth due to limited regional availability. Moreover, complicated rules and regulatory structures by governments pertaining to the usage of CBD is projected to hinder the global demand for CBD skin care products throughout the forecast years between 2019 and 2027.
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Market in Asia Pacific to Expand Rapidly
- In terms of geography, the global CBD skin care market can be divided into five regions North America (NA), Europe (EU), Asia Pacific (APAC), Middle East & Africa (MEA), and South America (SA)
- North America country-level analysis features the U.S., Canada, and Rest of North America. Analysis and forecast of the CBD skin care market in Europe includes markets across the U.K., Germany, France, and Rest of Europe. Similarly, Asia Pacific includes India, China, Japan, and Rest of Asia Pacific. Middle East & Africa includes the CBD skin care market analysis and forecast of GCC countries, South Africa, and Rest of Middle East & Africa. The South America CBD skin care market is segmented into Brazil, and Rest of South America.
- The Asia Pacific market is projected to witness substantial growth during the forecast period. Well known countries specializing in the beauty business such as Korea, Japan, China, and India are expected to offer promising opportunities for the CBD skin care market. However, cannabis is mostly illegal all across Asia. Despite this, Korean and Japanese beauty products are dominating the global skin and personal care market. Hence, the Asia Pacific region is anticipated to observe fastest growth in the CBD skin care market.
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Key Players Operating in the Global Market
Players in the global CBD skin care market are focusing on strengthening their distribution channels in organized retailing to increase sales revenue. Moreover, beauty bloggers and vloggers provide an effective channel to expand consumer reach. Manufacturers provide free samples to these bloggers who post product reviews on their social media channels. Furthermore, manufacturers are collaborating with farmers to source ingredients directly from them. This increases the product’s attractiveness to the consumer. These are some of the important strategies being adopted by key players. A few of the key players operating in the global CBD skin care market are:
- Cannuka, LLC
- CBD for Life
- Earthlybody (CBD Daily)
- Josie Maran Cosmetics
- Kapu Maku LLC.(Populum)
- LEEF Organics