A report from Allied Market Research on the Cannabidiol (CBD) Skin Care market projects that it will reach $3.484 billion by 2026 with a CAGR of 24.8% from 2019-2026. The CBD Skin Care Oils market is also expected to grow at a 24% CAGR through the forecast period.
Related: The Benefits of CBD for Acne
The legalization of cannabis and cannabis derivatives has increased the popularity of CBD in the wellness and personal care industries. Consumers are now looking for CBD-infused products with natural active ingredients over other chemical-based cosmetics. Upscale retailers and private label brands in the cosmetics market have launched CBD-based products and the trend is expected to continue in skin care.
The departmental store distribution segment is anticipated to dominate the global CBD skin care market, with a CAGR of 23.5% during the forecast period.
North America is the dominant region for CBD skin care (24.3% CAGR), while Asia-Pacific is expected to exhibit exponential growth (26.7% CAGR) through 2026.
The key players in the global CBD skin care market, as identified in the report, include Kiehl’s, Cannuka, Leef Organics, Medical Marijuana Inc., Lord Jones, Kapu Maku, Vertlybalm, Elixinol Global Limited, Fab CBD Company, and Endoca.