New York, NY, June 25, 2021 (GLOBE NEWSWIRE) — Facts and Factors have published a new research report titled “Cannabis Infused Beauty Products Market By Product (Fragrances, Hair Care, Skin Care, and Others), By Form (Lotion, Cream, Oil, and Others), By Distribution Channel (Offline and Online), and By Region: Global Industry Perspective, Comprehensive Analysis, and Forecast, 2019–2026”.
“According to the research report, the global Cannabis Infused Beauty Products Market was estimated at USD 6.5 Billion in 2019 and is expected to reach USD 20.5 Billion by 2026. The global Cannabis Infused Beauty Products Market is expected to grow at a compound annual growth rate (CAGR) of 17% from 2021 to 2026”.
Cannabis infused beauty products are generally skin care & hair care products containing cannabinoids, especially CBD (cannabidiol), as a key ingredient. Based on the market statistics and analytical research, the global cannabis infused beauty products market is expected to boom in the coming few years. Recent clinical trials and R&D activities have concluded that cannabis has a wide range of health benefits due to which the demand for such products is increasing rapidly, which in turn propels the global cannabis infused beauty products market.
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Industry Major Market Players
- Ulta Beauty
- Lord Jones LLC
- Estee Lauder
- Whoopi & Maya
- e.l.f Beauty
- High Beauty
- Milk Makeup
- Herb Essntls
- Papa & Barkley
- Talyoni Labs
- Nature Plus
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Market Dynamics & Growth Factors Analysis
Increased health benefits of cannabinoids upsurge the demand for cannabis infused beauty products
The infusion of cannabinoids in beauty products enhances the effectiveness of the products. As per the research, CBD infused oil is effective in treating acne. CBD infused anti-wrinkle products deliver positive outcomes after over a month of applying the product. CBD has an unusual characteristic of controlling oil production and inflammation, the two leading causes for acne development. CBD infused skin care products help in treating dry skin, eczema, psoriasis, and act as painkillers owing to the CBD’s analgesic and anti-inflammatory properties. CBD infused lip balms are supposed to hydrate the lips without making them gloppy. Cannabis oil soothes and calms chronic pain within a short duration. Owing to the rising awareness of the medical benefits of cannabis and increasing positive responses from customers, the demand for global cannabis infused beauty products is propelling rapidly. Besides raising awareness, the increase in the number of countries legalizing cannabis & cannabis infused products for medical purposes in their respective states is also a key factor driving the global cannabis infused beauty products market.
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Easy access to raw material and reasonable labor charges are the key opportunities for the market players
Foreign investors are planning to invest in bulk in the swiftly emerging cannabis infused beauty products market. For instance, climatic conditions in some areas in Latin America are ideal for the cultivation of cannabis. Moreover, the production and labor cost along with the value of land for marijuana cultivation is reasonable. Therefore, investors are showing more interest in cosmetics companies. The global market is likely to improve the economic state of the farmers with the growing demand for cannabis plants as a raw material.
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Based on the recent clinical trials as well as R&D activities, cannabis has a wide range of health benefits owing to which the demand for such products is surging, thereby driving the global cannabis infused beauty products market. The infusion of cannabinoids in beauty products enhances its effectiveness. CBD in beauty creams helps to remove wrinkles when applied regularly for over a month. CBD eradicates acne by controlling inflammation and oil production. CBD infused skin care products help in treating dry skin, eczema, and psoriasis owing to their strong analgesic property. Cannabis oil soothes and calms the chronic pain within an hour of applying.
The global cannabis infused beauty products market is segmented based on product, form, distribution channel, and region. By product, the market is bifurcated into fragrances, haircare, skin care, and others. By form, the global market is categorized into lotion, cream, oil, and others. Distribution channel-wise, the industry is sectored into offline and online. Likewise, the market is categorized based on the region into North America, Europe, the Middle East & Africa, Latin America, and the Asia Pacific.
Browse the full “Global Cannabis Infused Beauty Products Market By Product (Fragrances, Hair Care, Skin Care, and Others), By Form (Lotion, Cream, Oil, and Others), By Distribution Channel (Offline and Online), and By Region: Global Industry Perspective, Comprehensive Analysis, and Forecast, 2019–2026” Report at https://www.fnfresearch.com/global-cannabis-infused-beauty-products-market-by-product
In August 2019, the renowned American chain of beauty stores, Ulta Beauty, expanded its CBD assortment by signing a contract with Sagely Naturals. The beauty store chain has collaborated with several distribution networks.
The global cannabis infused beauty products market is segmented as:
Global Cannabis Infused Beauty Products Market: By Product
- Hair Care
- Skin Care
Global Cannabis Infused Beauty Products Market: By Form
Global Cannabis Infused Beauty Products Market: By Distribution Channel
Key Insights from Primary Research
- The global cannabis infused beauty products market is likely to surge substantially at a CAGR of around 17%.
- Data attained from our primary research suggested that the global cannabis infused beauty products market will exceed the valuation of USD 6.5 billion in 2019.
- The “skin care” category captured around half of the global cannabis infused beauty products market share in 2019 in terms of revenue. Moreover, the category is anticipated to grow at the fastest rate during the forecast period.
- The “oil” category under form segmentation attained around one-third of the global market share in 2019 and is projected to grow relatively fast during the anticipated timeframe.
- North America held over half of the global share of the global cannabis infused beauty products market in 2019. The region revenue is likely to surge at a considerable rate from 2020 to 2026.
KEY REPORT POINTERS & HIGHLIGHTS:
- Statistically Validated Analysis of Historical, Current, and Projected Industry Trends with Authenticated Market Sizes Information and Data in terms of Value and Volume, wherever applicable
- Direct and Indirect Factors that Impacted the Industry as well Projected Rationales expected to affect the industry going forward
- Micro, Meso, Macro, and In-Depth Analysis of Technically relevant and Commercially viable Segments and Sub-segments of the Market
- Historical and Projected Company / Vendor / OEM / Supplier Market Shares, Competitive Landscape, and Player Positioning Data
- Historical and Current Demand (Consumption) and Supply (Production) Scenarios as well as Projected Supply-Demand Scenario Analysis
- Detailed List of Key Buyers and End-Users (Consumers) analyzed as per Regions and Applications
- Value Chain and Supply Chain Analysis along with Horizontal and Vertical Integration Scenarios
- Manufacturing and Production Cost Structure Analysis including Labor Cost, Raw Material Expenses, and Other Manufacturing Expenses, wherever relevant
- Overview of Key Marketing Strategies and Key Sales Channels Adopted in the Market
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