CBD Skin Care Product Market ize

The global CBD Skin Care Product Market, valued at US$ 5841.52 million in 2023, is anticipated to grow to US$ 9033.12 million by 2031, with a compound annual growth rate (CAGR) of 5.6% during the forecast period from 2024 to 2031.

CBD, derived from cannabis plants, has gained significant traction in skincare products due to its perceived therapeutic benefits, including anti-inflammatory and antioxidant properties. The market's growth is driven by increasing consumer awareness of CBD's skincare benefits, coupled with favorable regulatory landscapes supporting the adoption of CBD-infused cosmetics.

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"The demand for CBD-infused skincare products continues to rise globally, driven by consumer preferences for natural and organic ingredients," said a spokesperson for SNS insider "We are witnessing robust market growth as more consumers seek skincare solutions that harness the potential of CBD for improving skin health."

Key Market Segmentation:

By Product Type

  • Oil

  • Lotion and creams

  • Masks and serums

  • Bath and soaps

  • Others

CBD oils dominate the CBD skincare market, holding over 40% of revenue in 2023. This is due to hemp-derived CBD's effectiveness for various skin concerns like dryness, aging, and acne. Companies are capitalizing on this by launching CBD facial oils, like Amway's glowing skin line in 2020. Advancements in manufacturing are also propelling growth. New technologies are reducing costs and waste, making hemp products more accessible for diverse applications, leading to a positive industry outlook. However, masks and serums are expected to be the fastest-growing segment. Their easy application and deep skin penetration are driving demand, potentially giving them a significant market share in the coming years.

By Source

  • Hemp

  • Marijuana

Hemp dominates in CBD skincare, holding over 64% of the market in 2023. Because hemp's rich fatty acids which combat signs of aging, moisturize, protect against free radicals, and promote healthy cells. It also soothes and rejuvenates dry, damaged skin. While hemp dominates, marijuana-based products are poised for future growth. Marijuana benefits skin by reducing sebum (oil) production, calming cellular inflammation, and minimizing redness and itch. It even aids the skin's natural healing process and shortens breakouts, making it an attractive future player in the market.

North America currently leads the CBD skincare market, attributed to the legalization of hemp-derived CBD and increasing consumer spending on premium skincare products. Europe follows closely, driven by expanding retail distribution channels and growing acceptance of CBD in mainstream beauty products. Emerging markets in Asia-Pacific and Latin America are also experiencing rapid adoption, fueled by changing consumer perceptions and increasing disposable incomes.

Key players

  •  CBD For Life LLC

  •  Cannuka

  •  LLC

  •  L'Oréal S.A.

  •  The Elixinol Group

  •  Endoca BV

  •  Green Growth Brands

  •  Kana Skincare

  •  KIEHL'S LLC (L'ORÉAL)

  •  LEEF ORGANICS LTD

  •  Lord Jones

  •  Medical Marijuana Inc

  •  Redwood Wellness LLC

  •  Vertly Hemp

  •  Marijuana Company Of America Inc.

  •  Myaderm

  •  The CBD Skincare Company

  •  Estée Lauder Companies

Key players in the CBD skincare market are focusing on product innovation, expanding their product portfolios, and strategic partnerships to capitalize on the growing demand. This includes formulations targeting specific skin concerns such as acne, aging, and sensitive skin, as well as sustainability initiatives to meet eco-conscious consumer preferences.

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