CBD skin care Market

According to a new report, The CBD skin care market is segmented on the basis of product type, source, distribution channel, and region.

5933 NE WIN SIVERS DRIVE, PORTLAND, OR, UNITED STATES, October 11, 2022 /EINPresswire.com/ -- According to a new report published by Allied Market Research titled, "CBD Skin Care Market by Product Type, and Distribution Channel: Global Opportunity Analysis and Industry Forecast, 2019–2026,". The global CBD skin care market size was valued at $633.6 million in 2018 and is anticipated to reach $3,484.00 million by 2026, with a CAGR of 24.80% during the forecast period. The global CBD oil segment was valued at $219.0 million in 2018 and is anticipated to reach $1,134.0 million by 2026, with a CAGR of 24.00% during the forecast period.

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Increase in preference toward sustainable skin care products, and rise in awareness and acceptance of cannabis are the major factors fueling the growth of the global CBD skin care market. On the other hand, high probabilities of product contamination and regulatory imposition on product manufacturing and marketing impede the growth to some extent. Moreover, surge in revenue through online sales channels are expected to usher in a number of opportunities for the key players in the industry.

The producers of CBD-based cosmetic products are facing certain challenges due to controversial nature of cannabis-derived ingredients in cosmetic products. Manufacturers need to take more precautions during manufacturing operation to avoid cross-contamination between CBD and non-CBD products. As a result, many companies are planning to run a separate production line for CBD skin care products to avoid cross-contaminations.

The CBD skin care market segmented on the basis of product type, source, distribution channel, and region. Based on form, the market is bifurcated into hemp and marijuana. The hemp segment contributed to more than half of the global CBD skin care market revenue in 2019, and is anticipated to rule the roost during the study period. Simultaneously, the marijuana segment is anticipated to grow at the fastest CAGR of 25.8% till 2026.

Based on distribution channel, the market is classified into departmental stores, e-commerce, hypermarkets/supermarkets, retail pharmacies, and others. The departmental stores segment accounted for nearly one-third of the global CBD skin care market share in 2019, and is expected to dominate throughout the forecast period. On the other hand, the e-commerce segment would cite the fastest CAGR of 27.4% in between 2019 to 2026.

Region-wise, CBD skin care market is analyzed across North America (the U.S., Canada, and Mexico), Europe (Germany, France, Spain, Italy, and Rest of Europe), Asia-Pacific (China, India, Japan, Australia, South Korea, and Rest of Asia-Pacific), and LAMEA (the Middle East, Latin America, and Africa). Premium nature of CBD infused skin care products and a touch of natural ingredients to the product offerings are increasing the popularity of CBD infused skin care products among consumers from the North America and Europe regions.

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The key players operating in the global CBD skin care industry include Kiehl’s LLC, Cannuka LLC, Leef Organics, Medical Marijuana Inc., Lord Jones, Kapu Maku LLC, VERTLYBALM, Elixinol Global Limited, Fab CBD Company, and Endoca LLC. Other key players identified in the value chain are L’Oreal, Varm Cosmo, L’Eela, Apothecanna, Charlotte’s Web Holdings, Kana Skincare, Josie Maran Cosmetics, Cronos Group, CBD Biotech, and Estee Lauder.

Key Benefits for Stakeholders:

○ The report provides detailed qualitative and quantitative analysis of the current CBD Skin Care market trends and future estimations that help evaluate the share and the CBD Skin Care market opportunity.
○ The key drivers, restraints, opportunities, and detailed market analysis are elucidated in the study.
○ The market analysis is conducted by following key product positioning and monitoring the top competitors within the industry.
○ The report provides extensive qualitative insights on the potential and niche segments or regions exhibiting favorable market growth.
○ Industry player positioning segment facilitates benchmarking and provides a clear understanding of the present position of players in CBD skin care market

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