DALLAS, Tex. – Several factors, like countless potential benefits of cannabidiol, drove the increasing demand in the CBD cosmetics market, and the United States is on the forefront.
The market research report by Adroit Market Research highlights the market demand, trending scenario, and use cases in the CBD cosmetics market from 2015 to 2025. It includes the historical developments in the market from 2015 to 2018 and the forecast from 2019 to 2025.
The market segmentation of the global CBD cosmetics market is done based on several factors such as its source, application, distribution channel, and geographical location.
In terms of the source for CBD utilized in the cosmetic industry, the market is divided into two, the hemp and marijuana. The global CBD markets in the cosmetic industry offer various products from sunscreens, moisturizers, creams, masks, serums, and cleansers, among other cosmetic applications. In terms of the distribution channel in the CBD cosmetics market, it is split into online stores, hospital pharmacies, retail pharmacies, and others. When it comes to the geographical regions for the market, it is classified into North America, Europe, Central and South America, MEA, and the Asia Pacific.
Out of the regions in the global CBD market, North America holds the leading market share based on the CBD cosmetics industry analysis. With the increasing popularity of cannabidiol in help and marijuana, more countries started to legalize its use, opening the boom for cannabis-based products like the CBD oil. In 2015, the global skincare industry was valued around $116.3 billion, with the $12.83 billion generated by the US.
Meanwhile, on the analysis for the distribution channel, the online medium snagged the majority of shares in the CBD cosmetic industry, especially with the rise of e-commerce companies and social media. Sephora and Glossier, as multi-brand stores, gained a significant advantage in the market. New CBD brands are starting to pop up in the cosmetic space as well.
Among the prominent CBD players in the cosmetic market includes Kiehl’s LLC, Lord Jones, Canuka, Green Growth Brands, CBD for Life, Josie Maran Cosmetics, Ildi Pekar Skin Care and Spa, The CBD Skin Care Company, Kana Skincare, FAB CBD, Charlotte’s Web Holdings Inc., Leef Organics, Elixinol Global Limited, and L’eela CBD BodyCare.
Select luxury cosmetic retailers are also creating CBD-infused cosmetic product lines, like the Unilever’s Murad’s Hemp Serum, L’Oreal’s Kiehl’s Cannabis Serum, and the Estee Lauder Companies’ Original Hemp Mask.
Furthermore, the worldwide cannabidiol cosmetics market is anticipated to have a 31.3% growth for the 2019-2025 forecasted period from the $588.64 million market value in 2018.