According to a recent report published by Fast M.R, titled, CBD Skin Care Market 2018: Market Value, Trends, Opportunity, forecast 2018-2024, “the global Pharmaceutical Intermediates market accounted for USD XX Million in 2018 and is estimated to reach USD XX Million by 2024. Moreover, it is anticipated to flourish at a CAGR of XX% during the forecast period i.e. 2018-2024.
Global CBD skin care market accounted for USD 415.6 Million in 2018. Further, the market is expected to register a compound annual growth rate (CAGR) of 35.8% between 2019 and 2024. Factors such as increasing consumer interest in CBD infused skin care products and supportive government acts & regulations is believed to impel the growth of global CBD skin care market.
Get Sample Report - https://www.fastmr.com/request-s/92
Market Insights
Growth Drivers – CBD Skin Care Market
Increasing Awareness Regarding Benefits of CBD
Growing awareness regarding skin benefits has increased the consumer base of CBD based products across the globe. This factor is anticipated to positively impact the growth of global CBD skin care market during the forecast period. Further, legalization of CBD through Farm Act, 2018 coupled with increasing adoption of CBD infused skin care products in United States is also believed to significantly contribute to the growth of CBD skin care market.
Innovation in Products
Increasing expenditure in research & development and launch of new products is anticipated to drive the growth of global CBD skin care market in the upcoming years. Several manufacturers of CBD skin care are focusing on launch of new innovative products to increase their market share. For instance, on June 6, 2019, CBD Brands Inc., announced the launch of CaniSun™–a line of premium sunscreen lotions infused with pure CBD.
Barriers – CBD Skin Care Market
Stringent Regulations Regarding CBD Approval
Strict rules and regulations regarding the approval of CBD based products is one of the major factors which is restricting the growth of global CBD skin care market. Furthermore, non-legalization of CBD in various countries across the world is also negatively impacting the growth rate of global CBD skin care market.
Segmentation Analysis
The CBD skin care market by product type is segmented into CBD oil, serum, creams & moisturizers, cleansers, sunscreens and other products. In this segment, CBD oil segment captured the largest market share in 2024.
Based on distribution channel, the CBD skin care market is further sub segmented into supermarket & hypermarket, online stores, drug stores & pharmacies, specialty outlets and others. Supermarket & hypermarket segment captured significant market share in overall CBD skin care market in 2018.
Geographical Analysis
Geographically, the report offers analysis of North America, Europe, Asia Pacific, Latin America and Middle East & Africa. In CBD skin care market, North America dominated in 2018, acquiring significant portion of overall market. Further, North America CBD skin care market is anticipated to grow at a CAGR of 45.6% during the forecast period. Legalization of cultivation of cannabis and availability of wide range of CBD based products are substantially contributing to the growth of North America CBD skin care market. Furthermore, growing consumer base and number of startups in the region are believed to foster the growth of market. Europe & Asia Pacific CBD skin care market is poised to witness lucrative growth during the forecast period.
Competitive Analysis
The report also covers detailed competitive analysis of major market players of global CBD skin care market, such as SAINT JANE BEAUTY, Josie Maran Cosmetics, Cannuka, LLC, Green Growth Brands, Lord Jones, The CBD Skincare Company, CBD For Life, Kapu Maku LLC, Mazz Hanna, Kana Skincare and Other Prominent Players. The CBD skin care market is witnessing a wide range of industry activities such as product launch, acquisition, partnership, and expansion across the globe.
Segmentation
By Source
- Marijuana-derived CBD
- Hemp-derived CBD
By Product Type
- CBD Oil
- Serum
- Creams & Moisturizers
- Cleansers
- Sunscreens
- Other Products
By Distribution Channel
- Supermarket & Hypermarket
- Online Stores
- Drug Stores & Pharmacies
- Specialty Outlets
- Others
By Geography:
- North America (U.S. & Canada)
- Europe (Germany, United Kingdom, France, Italy, Spain, Russia and Rest of Europe)
- Asia Pacific (China, India, Japan, South Korea, Indonesia, Taiwan, Australia, New Zealand and Rest of Asia Pacific)
- Latin America (Brazil, Mexico, Argentina and Rest of Latin America)
- Middle East & Africa (GCC, North Africa, South Africa and Rest of Middle East & Africa)
Competitive Landscape
The report profiles various major market players such as
- SAINT JANE BEAUTY
- Josie Maran Cosmetics
- Cannuka, LLC
- Green Growth Brands
- Lord Jones
- The CBD Skincare Company
- CBD For Life
- Kapu Maku LLC
- Mazz Hanna
- Kana Skincare
- CBD Brands
- Other Prominent Players
Competitive landscape analysis provides detailed strategic analysis of the company’s business and performance such as financial information, revenue breakup by segment and by geography, SWOT Analysis, key facts, company overview, business strategy, key product offerings, marketing and distribution strategies, new product development, recent news (acquisition, expansion, technology development, research & development and other market activities).
Browse Full Report With TOC@ https://www.fastmr.com/report/92/cbd-skin-care-market