The global CBD skin care market size was valued at $633.6 million in 2018 and is anticipated to reach $3.45 billion by 2026, with a CAGR of 24.80% during the forecast period.
This product lines include, among others, skin care, hand care and lip moisturizer products.
Companies are primarily marketing their products for health benefits associated with CBD in skin care products. The positioning of CBD infused skin care products coupled with effective distribution strategies are expected to boost the CBD skin care market growth well into the next decade.
The Allied Market Research report said: "Holistic benefits of CBD infused skin care products are in spotlight after the legalization of marijuana and cannabis based cosmetics. CBD infused skin product is gaining popularity among consumers due to its calming properties. It has a potential to relive common skin issue through its anti-inflammatory, anti-oxidant properties. CBD-based skin care product also offers various benefits such as improved sleep and also helps in the treatment of various skin conditions such as eczema and psoriasis, as well as acne. The unique benefits associated with CBD based skin care has been capitalized by cosmetic companies. These companies are promoting CBD infused skin care products as "natural cosmetic" in the market. The multi-functional attributes of these products is expected to propel the demand for CBD skin care products."