NEW YORK, May 6, 2022 /PRNewswire/ — The CBD Skincare Market value is set to grow by USD 1.64 billion, progressing at a CAGR of 33% from 2019 to 2024, as per the latest report by Technavio. The market is segmented by type (oils, CMC, and MSL), source (hemp and marijuana), and geography (North America, Europe, APAC, South America, and MEA).
Moreover, the skincare benefits offered by CBD is notably driving the market growth, although easy availability of counterfeit products may impede the market growth.
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CBD Skincare Market 2020-2024: Segmentation
The CBD skincare market share growth by the hemp segment will be significant during the forecast period. The hemp plant has a unique combination of cannabinoids, terpenes, essential fatty acids, and other vital nutrients, and its derived products are used for several industrial purposes. Hemp-derived skincare products are used for various health benefits provided by these products, including the treatment of various types of skin disorders. Growing awareness about the benefits of hemp-derived skincare products among consumers worldwide is expected to drive the growth of this segment significantly during the forecast period.
41% of the market’s growth will originate from North America during the forecast period. The US and Canada are the key markets for CBD skincare market in North America. Market growth in this region will be faster than the growth of the market in other regions. The growing awareness among consumers about the several skincare benefits of CBD-based products will facilitate the CBD skincare market growth in North America over the forecast period.
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CBD Skincare Market 2020-2024: Scope
Technavio presents a detailed picture of the market by the way of study, synthesis, and summation of data from multiple sources. Our market report covers the following areas:
CBD Skincare Market 2020-2024: Driver
The skincare benefits offered by CBD is one of the key drivers supporting the CBD skincare market growth. The skin calming and skin normalizing properties of CBD make it ideal for sensitive skin by minimizing issues related to skin sensitivity, such as skin redness. It is also a very popular skin conditioning agent that helps in enhancing the overall appearance of the skin by making it soft and smooth. It is considered a natural remedy for treating psoriasis, a chronic autoimmune disease, where skin cells grow at an accelerated rate. Therefore, the numerous skincare benefits of CBD make it a popular ingredient in many skincare products. As a result, CBD-infused skincare products are being increasingly demanded by consumers globally. This, in turn, is a major factor that will drive the growth of the global CBD skincare market during the forecast period.
CBD Skincare Market 2020-2024: Challenge
The easy availability of counterfeit products is one of the factors hindering the CBD skincare market growth. Counterfeiting has increased over the past few years, as consumers prefer low-priced products to expensive ones. The digital era makes it possible for counterfeiters to sell their products without a prior product review or inspection. Therefore, the presence of numerous counterfeit products can lead to market fragmentation, which can lead to the lack of price standardization, an uneven competitive scenario, and the erosion of market share held by international vendors. Moreover, there are several countries across the world where the selling of CBD skincare products has yet not been legalized. This has led to the illegal sales of CBD skincare products in these countries where the products offered by the manufacturers do not adhere to the general standards associated with the manufacturing, labeling, and selling of these products. Such factors are hindering market growth.
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CBD Skincare Market 2020-2024: Vendor Analysis
The report analyzes the market’s competitive landscape and offers information on several market vendors, including:
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Cronos Group Inc.
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Elixinol Wellness Ltd.
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Endoca BV
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Green Light Acquisitions LLC
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Isodiol International Inc.
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Josie Maran Cosmetics LLC
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Khiron Life Sciences Corp.
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LOreal SA
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Medical Marijuana Inc.
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The CBD Skincare Co.
The CBD skincare market is fragmented and the vendors are deploying growth strategies such as new product launches and business expansions to compete in the market.
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CBD Skincare Market 2020-2024: Key Highlights
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CAGR of the market during the forecast period 2020-2024
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Detailed information on factors that will assist CBD skincare market growth during the next five years
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Estimation of the CBD skincare market size and its contribution to the parent market
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Predictions on upcoming trends and changes in consumer behavior
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The growth of the CBD skincare market
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Analysis of the market’s competitive landscape and detailed information on vendors
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Comprehensive details of factors that will challenge the growth of CBD skincare market vendors
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CBD Skincare Market Scope |
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Report Coverage |
Details |
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Page number |
120 |
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Base year |
2019 |
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Forecast period |
2020-2024 |
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Growth momentum & CAGR |
Accelerate at a CAGR of 33% |
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Market growth 2020-2024 |
$ 1.64 billion |
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Market structure |
Fragmented |
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YoY growth (%) |
32.45 |
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Regional analysis |
North America, Europe, APAC, South America, and MEA |
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Performing market contribution |
North America at 41% |
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Key consumer countries |
US, UK, China, Canada, and Germany |
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Competitive landscape |
Leading companies, competitive strategies, consumer engagement scope |
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Companies profiled |
Cronos Group Inc., Elixinol Wellness Ltd., Endoca BV, Green Light Acquisitions LLC, Isodiol International Inc., Josie Maran Cosmetics LLC, Khiron Life Sciences Corp., LOreal SA, Medical Marijuana Inc., and The CBD Skincare Co. |
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Market Dynamics |
Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID 19 impact and future consumer dynamics, market condition analysis for the forecast period, |
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Customization preview |
If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized. |
Table of Contents:
1. Executive Summary
2. Market Landscape
2.1 Market ecosystem
2.1.1 Parent market
Exhibit 01: Parent market
Exhibit 02: Market characteristics
2.2 Value chain analysis
Exhibit 03: Value chain analysis for personal products market
2.2.1 Inputs
2.2.2 Inbound logistics
2.2.3 Operations
2.2.4 Outbound logistics
2.2.5 Marketing and sales
2.2.6 Support activities
2.2.7 Innovation
3. Market Sizing
3.1 Market definition
3.2 Market segment analysis
Exhibit 04: Market segments
3.3 Market size 2019
3.4 Market outlook: Forecast for 2019 – 2024
Exhibit 05: Global – Market size and forecast 2019 – 2024 ($ million)
Exhibit 06: Global CBD skincare market 2019-2024 ($ million), exclusive of COVID-19 impact
Exhibit 07: Global market: Year-over-year growth 2019 – 2024 (%)
4. Five Forces Analysis
4.1 Five Forces Summary
Exhibit 08: Five forces analysis 2019 & 2024
4.2 Bargaining power of buyers
Exhibit 09: Bargaining power of buyers
4.3 Bargaining power of suppliers
Exhibit 10: Bargaining power of suppliers
4.4 Threat of new entrants
Exhibit 11: Threat of new entrants
4.5 Threat of substitutes
Exhibit 12: Threat of substitutes
4.6 Threat of rivalry
Exhibit 13: Threat of rivalry
4.7 Market condition
Exhibit 14: Market condition – Five forces 2019
5. Market Segmentation by Type
5.1 Market segments
The segments covered in this chapter are:
Exhibit 15: Type – Market share 2019-2024 (%)
5.2 Comparison by Type
Exhibit 16: Comparison by Type
5.3 Oils – Market size and forecast 2019-2024
Exhibit 17: Oils – Market size and forecast 2019-2024 ($ million)
Exhibit 18: Global CBD skincare market 2019-2024 ($ million) by oil, exclusive of COVID-19 impact
Exhibit 19: Oils – Year-over-year growth 2019-2024 (%)
5.4 Cream, moisturizer, and cleanser – Market size and forecast 2019-2024
Exhibit 20: Cream, moisturizer, and cleanser – Market size and forecast 2019-2024 ($ million)
Exhibit 21: Global CBD skincare market 2019-2024 ($ million) by cream, moisturizer, and cleanser, exclusive of COVID-19 impact
Exhibit 22: Cream, moisturizer, and cleanser – Year-over-year growth 2019-2024 (%)
5.5 Mask, serum, and lotion – Market size and forecast 2019-2024
Exhibit 23: Mask, serum, and lotion – Market size and forecast 2019-2024 ($ million)
Exhibit 24: Global CBD skincare market 2019-2024 ($ million) by mask, serum, and lotion, exclusive of COVID-19 impact
Exhibit 25: Mask, serum, and lotion – Year-over-year growth 2019-2024 (%)
5.6 COVID-19 impact on the segment
5.7 Market opportunity by Type
Exhibit 26: Market opportunity by Type
6. Market Segmentation by Source
6.1 Market segments
The segments covered in this chapter are:
Exhibit 27: Source – Market share 2019-2024 (%)
6.2 Comparison by Source
Exhibit 28: Comparison by Source
6.3 Hemp – Market size and forecast 2019-2024
Exhibit 29: Hemp – Market size and forecast 2019-2024 ($ million)
Exhibit 30: Global CBD skincare market 2019-2024 ($ million) by hemp, exclusive of COVID-19 impact
Exhibit 31: Hemp – Year-over-year growth 2019-2024 (%)
6.4 Marijuana – Market size and forecast 2019-2024
Exhibit 32: Marijuana – Market size and forecast 2019-2024 ($ million)
Exhibit 33: Global CBD skincare market 2019-2024 ($ million) by marijuana source, exclusive of COVID-19 impact
Exhibit 34: Marijuana – Year-over-year growth 2019-2024 (%)
6.5 COVID-19 impact on the segment
6.6 Market opportunity by Source
Exhibit 35: Market opportunity by Source
7. Customer landscape
Technavio’s customer landscape matrix comparing Drivers or price sensitivity, Adoption lifecycle, importance in customer price basket, Adoption rate and Key purchase criteria
Exhibit 36: Customer landscape
8. Geographic Landscape
8.1 Geographic segmentation
The regions covered in the report are:
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North America
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Europe
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APAC
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South America
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MEA
Exhibit 37: Market share by geography 2019-2024 (%)
8.2 Geographic comparison
Exhibit 38: Geographic comparison
8.3 North America – Market size and forecast 2019-2024
Exhibit 39: North America – Market size and forecast 2019-2024 ($ million)
Exhibit 40: CBD skincare market in North America 2019-2024 ($ million, exclusive of COVID-19 impact
8.3.1 Segment growth exclusive of COVID-19 pandemic impact
8.3.2 COVID-19 impact on North America
Exhibit 41: North America – Year-over-year growth 2019-2024 (%)
8.4 Europe – Market size and forecast 2019-2024
Exhibit 42: Europe – Market size and forecast 2019-2024 ($ million)
Exhibit 43: CBD skincare market in Europe 2019-2024 ($ million, exclusive of COVID-19 impact
8.4.1 Segment growth exclusive of COVID-19 pandemic impact
8.4.2 COVID-19 impact on Europe
Exhibit 44: Europe – Year-over-year growth 2019-2024 (%)
8.5 APAC – Market size and forecast 2019-2024
Exhibit 45: APAC – Market size and forecast 2019-2024 ($ million)
Exhibit 46: CBD skincare market in APAC 2019-2024 ($ million, exclusive of COVID-19 impact
8.5.1 Segment growth exclusive of COVID-19 pandemic impact
8.5.2 COVID-19 impact on APAC
Exhibit 47: APAC – Year-over-year growth 2019-2024 (%)
8.6 South America – Market size and forecast 2019-2024
Exhibit 48: South America – Market size and forecast 2019-2024 ($ million)
Exhibit 49: CBD skincare market in South America 2019-2024 ($ million, exclusive of COVID-19 impact
8.6.1 Segment growth exclusive of COVID-19 pandemic impact
8.6.2 COVID-19 impact on South America
Exhibit 50: South America – Year-over-year growth 2019-2024 (%)
8.7 MEA – Market size and forecast 2019-2024
Exhibit 51: MEA – Market size and forecast 2019-2024 ($ million)
Exhibit 52: CBD skincare market in MEA 2019-2024 ($ million, exclusive of COVID-19 impact
8.7.1 Segment growth exclusive of COVID-19 pandemic impact
8.7.2 COVID-19 impact on MEA
8.8 Key leading countries
Exhibit 53: Key leading countries
8.9 Market opportunity by geography
Exhibit 54: Market opportunity by geography
9. Drivers, Challenges, and Trends
9.1 Market Drivers
9.1.1 Benefits of CBD in skincare
9.1.2 New product launches
9.1.3 Growth in online sales
9.2 Market challenges
9.2.1 Easy availability of counterfeit products
9.2.2 High competition among vendors
9.2.3 Stringent regulations
Exhibit 55: Impact of drivers and challenges
9.3 Market trends
9.3.1 Increasing collaboration among vendors and business expansion
9.3.2 Growing demand among millennial and middle-aged populations
9.3.3 Rising demand from emerging markets
10. Vendor Landscape
10.1 Overview
10.2 Vendor landscape
Exhibit 56: Vendor landscape
10.3 Landscape disruption
Exhibit 57: Landscape disruption
Exhibit 58: Industry risks
11. Vendor Analysis
11.1 Vendors covered
Exhibit 59: Vendors covered
11.2 Market positioning of vendors
Exhibit 60: Market positioning of vendors
11.3 Cannuka LLC
Exhibit 61: Cannuka LLC – Overview
Exhibit 62: Cannuka LLC – Product and service
Exhibit 63: Cannuka LLC – Key offerings
11.4 Cronos Group Inc.
Exhibit 64: Cronos Group Inc. – Overview
Exhibit 65: Cronos Group Inc. – Business segments
Exhibit 66: Cronos Group Inc. – Key news
Exhibit 67: Cronos Group Inc. – Key offerings
11.5 Elixinol Global Ltd.
Exhibit 68: Elixinol Global Ltd. – Overview
Exhibit 69: Elixinol Global Ltd. – Business segments
Exhibit 70: Elixinol Global Ltd. – Key news
Exhibit 71: Elixinol Global Ltd. – Key offerings
Exhibit 72: Elixinol Global Ltd. – Segment focus
11.6 Endoca BV
Exhibit 73: Endoca BV – Overview
Exhibit 74: Endoca BV – Product and service
Exhibit 75: Endoca BV – Key offerings
11.7 Isodiol International Inc.
Exhibit 76: Isodiol International Inc. – Overview
Exhibit 77: Isodiol International Inc. – Product and service
Exhibit 78: Isodiol International Inc. – Key news
Exhibit 79: Isodiol International Inc. – Key offerings
11.8 Josie Maran Cosmetics LLC
Exhibit 80: Josie Maran Cosmetics LLC – Overview
Exhibit 81: Josie Maran Cosmetics LLC – Product and service
Exhibit 82: Josie Maran Cosmetics LLC – Key offerings
11.9 Khiron Life Sciences Corp.
Exhibit 83: Khiron Life Sciences Corp. – Overview
Exhibit 84: Khiron Life Sciences Corp. – Product and service
Exhibit 85: Khiron Life Sciences Corp. – Key news
Exhibit 86: Khiron Life Sciences Corp. – Key offerings
Exhibit 87: Khiron Life Sciences Corp. – Segment focus
11.10 L’Oréal SA
Exhibit 88: L’Oréal SA – Overview
Exhibit 89: L’Oréal SA – Business segments
Exhibit 90: L’Oréal SA – Key news
Exhibit 91: L’Oréal SA – Key offerings
Exhibit 92: L’Oréal SA – Segment focus
11.11 Medical Marijuana Inc.
Exhibit 93: Medical Marijuana Inc. – Overview
Exhibit 94: Medical Marijuana Inc. – Business segments
Exhibit 95: Medical Marijuana Inc. – Key news
Exhibit 96: Medical Marijuana Inc. – Key offerings
Exhibit 97: Medical Marijuana Inc. – Segment focus
11.12 The CBD Skincare Co.
Exhibit 98: The CBD Skincare Co. – Overview
Exhibit 99: The CBD Skincare Co. – Product and service
Exhibit 100: The CBD Skincare Co. – Key offerings
12. Appendix
12.1 Scope of the report
12.1.1 Market definition
12.1.2 Objectives
12.1.3 Notes and caveats
12.2 Currency conversion rates for US$
About Us
Technavio is a leading global technology research and advisory company. Their research and analysis focus on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions. With over 500 specialized analysts, Technavio’s report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio’s comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.
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