SAN FRANCISCO, Aug. 09, 2022 (GLOBE NEWSWIRE) — Data Bridge Market research has recently issued an inclusive industry study on “Global Cannabidiol (CBD) Skin Care Market” which includes growth analysis, regional marketing, challenges, opportunities, and drivers analyzed in the report. Cannabidiol (CBD) Skin Care market research reports point out that the global market is anticipated to surge at a steady rate in the coming years. This report provides a comprehensive review of the global market. Analysts have identified the key market drivers and restraints in the overall market. The historical milestones achieved by the global market and rising trends have also been studied in this Cannabidiol (CBD) Skin Care market report. Adopting such a market research report is becoming very essential for businesses as it supports better decision making, revenue generation, prioritizing market goals, and profitable business.
Global Cannabidiol (CBD) Skin Care Market was valued at USD 952.91 million in 2021 and is expected to reach USD 7583.91 million by 2029, registering a CAGR of 29.60% during the forecast period of 2022-2029.
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Cannabidiol (CBD) is a non-intoxicating compound, which is generally extracted from marijuana or hemp plants in the form of powder and is used for various skin care purposes. The skincare and personal care products infused with cannabidiol (CBD) possess various types of beneficial skin-soothing, relaxing, anti-anxiety, pain-relieving properties, hydrating, antioxidant and anti-inflammatory properties which aids in treating dry skin or certain inflammatory skin disorders.
Cannabidiol (CBD) skin care has largely gained popularity due to its effective usage for various skin benefits. Moreover, they are also further effective in tackling inflammation, anxiety and insomnia and also helps to improve the physiological and cognitive functions in an individual along with regulation the mood, pain and memory. Cannabidiol (CBD) is one of 113 identified cannabinoids in cannabis plants and accounts for up to 40% of the plant’s extract. As a result, its increased popularity regarding its benefits is projected to aid the market growth over forecast period.
Some of the major players operating in the cannabidiol (CBD) skin care market are
- Canopy Growth Corporation (Canada)
- The Cronos Group (Canada)
- Hexo (Canada)
- CannTrust (Canada)
- Aurora Cannabis Inc. (Canada)
- GW Pharmaceuticals plc. (UK)
- VIVO Cannabis Inc. (Canada)
- Alkaline88, LLC. (U.S.)
- NewAge Inc. (U.S.)
- Dixie Brands (U.S.)
- KANNAWAY LLC. (U.S.)
- The Supreme Cannabis Company, Inc (Canada)
- CANNABIS Aphria (Canada)
- CURA CS, LLC. (U.S.)
- KAZMIRA (U.S.)
- Curaleaf (U.S.)
- CannazALL (U.S.)
The unprecedented health and economic crisis created by the COVID-19 pandemic has severely impacted industrial activities. Businesses have either been forced to shut down or are experiencing massive revenue losses. To enable your business to survive these trying times, Data Bridge Market research offers comprehensive Global Cannabidiol (CBD) Skin Care Market research report based on our experience and expertise. These reports contain a detailed impact analysis of the coronavirus pandemic on the market of your concern.
- In December 2021, Sentient Brands has launched its Oeuvre influencer and social media marketing campaign. According to Sentient Brands, Oeuvre’s product design, formulas, and disruptive “Luxury Clean Beauty” branding strategy set it apart in a market cluttered with homogeneous CBD skincare products. The Company’s Oeuvre social media marketing plan is now focusing on influencer marketing and paid advertising on Instagram, Facebook, and Pinteres
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Opportunities for Players
- Growing Technological Advancements
Furthermore, the increasing number of technological advancements driven with a view to minimize the production costs coupled with the developmental operations directed towards sustainable development to ensure optimum and judicious use of resources generate lucrative opportunities to the market players in the forecast period of 2022 to 2029.
- Funding and Research and Development (R&D) Activities
The surging funding from federal government pertaining to the research and development proficiencies are projected to expand the future growth of the cannabidiol (CBD) skin care market. Moreover, the various research and development (R & R&D) activities aimed at lowering THC content and a growing emphasis on obtaining faster regulatory approval will positively influence market growth.
How the Report Aids Your Business Decision?
- This section of this Market report highlights some of the most relevant factors and growth enablers that collectively ensure a high-end growth spurt
- The report unravels details on pronounced share assessments across both country-wise as well as region-based segments
- A leading synopsis of market share analysis of dynamic players inclusive of high-end industry veterans
- New player entry analysis and their scope of new business models
- The report includes strategic recommendations for new business veterans as well as established players seeking novel growth avenues
- A detailed consultation services based on historical as well as current timelines to ensure feasible forecast predictions
- A thorough evaluation and detailed study of various segments as well as sub-segments across regional and country-specific developments
- A review of market competitors, their high-end product and service portfolios, dynamic trends, as well as technological advances that portray high-end growth in this Market
- Growing Awareness Regarding its Benefits
The cannabidiol skin care is becoming increasingly popular across the globe, owing to the increased awareness about the benefits of cannabidiol and its medicinal properties. Moreover, the increasing adoption of CBD skin care products as it possess antioxidant properties counteracting the signs of aging boosts the overall demand for the .
Furthermore, the factors such as surge in public-private funding for targeted research activities, high disposable income, rapid urbanization, changing lifestyles, and rising product innovations and development due to technological advancements worldwide boost the market value. Moreover, increased internet penetration, continued product development and commercialization, government supportive regulations for the use of cannabis-related products, particularly in developing nations, and rising per capita expenditure will all contribute to the market’s future growth rate.
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The countries covered in the cannabidiol (CBD) skin care market report are U.S., Canada and Mexico in North America, Germany, France, U.K., Netherlands, Switzerland, Belgium, Russia, Italy, Spain, Turkey, Rest of Europe in Europe, China, Japan, India, South Korea, Singapore, Malaysia, Australia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific (APAC) in the Asia-Pacific (APAC), Saudi Arabia, U.A.E, Israel, Egypt, South Africa, Rest of Middle East and Africa (MEA) as a part of Middle East and Africa (MEA), Brazil, Argentina and Rest of South America as part of South America.
North America dominates the market in terms of market share and market revenue and will continue to flourish its dominance during the forecast period of 2022-2029. The market growth over this region is attributed to the legalization of marijuana in Canada and U.S and the presence of large number of key players within the region.
On the other hand, Asia-Pacific is estimated to show lucrative growth over the forecast period of 2022-2029, due to the rising awareness about the benefits of cannabidiol-infused beauty products within this region.
TABLE OF CONTENTS
Part 01: Executive Summary
Part 02: Scope Of The Report
Part 03: Research Methodology
Part 04: Market Landscape
Part 05: Pipeline Analysis
Part 06: Market Sizing
Part 07: Five Forces Analysis
Part 08: Market Segmentation
Part 09: Customer Landscape
Part 10: Regional Landscape
Part 11: Decision Framework
Part 12: Drivers And Challenges
Part 13: Market Trends
Part 14: Vendor Landscape
Part 15: Vendor Analysis
Part 16: Appendix
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