CBD (cannabidiol) is a non-psychoactive compound obtained from marijuana and hemp plants. CBD is extracted as a powder, which is then blended with a variety of oils, such as olive, coconut, or hemp oil, to improve its efficacy in a variety of applications. CBD oil products have a range of properties, including anti-inflammatory, antioxidant, and skin calming properties. CBD oil is a crucial component of skincare and personal care products due to it incorporates so many beneficial properties in a single blend. Since the legalization of marijuana and cannabis-based cosmetics, the holistic benefits of CBD-infused skincare products have come to light. Owing to its soothing effects, CBD-infused skin products are gaining popularity among consumers. Its anti-inflammatory and anti-oxidant properties have the ability to relieve common skin problems. CBD-based skincare products have a range of advantages, including better sleep and the treatment of skin disorders like eczema and psoriasis, as well as acne. Cosmetic firms have capitalized on the specific benefits associated with CBD-based skincare.
Global Cannabis-Infused Beauty Products Market to surpass USD million by 2030 from USD million in 2020 at a CAGR of 24.9 % in the coming years, i.e., 2021-30. This growth is anticipated due to increasing mergers and acquisitions across various sectors which will create a worldwide demand for Cannabis-Infused Beauty Products. The growth of online stores is also propelling the selling of high-end products. E-commerce allows the simple purchasing of goods manufactured in remote locations. This, in turn, has made a major contribution to the development of the global Cannabis-Infused Beauty Products industry.
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Global Cannabis-Infused Beauty Products Market: Key Players
- Cronos Group Inc.
- Elixinol Global Ltd.
- Endoca BV
- Isodiol International Inc.
- Khiron Life Sciences Corp.
- L’Oréal SA
- The CBD Skincare Co.
- The Estée Lauder Companies Inc.
- Unilever Group
- Other Prominent Players
Global Cannabis-Infused Beauty Products Market: Segments
Hemp segment to grow with the highest CAGR during 2020-30
Global Cannabis-Infused Beauty Products Market is segmented by source into Hemp and marijuana. Hemp segment held the largest market share in the year 2020 due to the product’s high fatty acid content Hemp-infused skincare products soothe and rejuvenate dry and damaged skin, which helps to relieve pain. They also assist in the management of aging concerns, which is likely to drive the use of this source. Hemp Organic Face Cream, Origins hemp-based hydrating face mask, and Kiehl’s cannabis Sativa seed oil are only a few of the hemp-based skincare products available.
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Global Cannabis-Infused Beauty Products Market Dynamics
Advancements in research and development as well as sale of premium products
Surging demand of Cannabis-Infused Beauty Products Market from numerous end-user industries is the key factor contributing in the market growth. Vendors have been motivated to concentrate on R&D operations by rising competition and market demand for better goods. Vendors are trying to provide new ingredients and innovations with functional advantages and limited or no side effects to gain distinction in a competitive market. Vendors are now launching products that will assist consumers in overcoming hair and skin-related issues such as hair loss and injury, as well as skin drying and wrinkling, which are caused by pollution and unhealthy lifestyles. Vendors are now selling premium product lines to make a name for themselves in the luxury cosmetics industry. As a result, sales are growing, leading to the growth of the CBD-infused cosmetics industry.
Changing fashion trends as well as consumer tastes
Changing fashion trends, as well as a constant change in customer tastes and expectations, have resulted in increasing prices for the Cannabis-Infused Beauty Products market over time. As a result, rising production costs for the market are having a negative effect on the global Cannabis-Infused Beauty Products industry.
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Global Cannabis-Infused Beauty Products Market report also contains analysis on:
Cannabis-Infused Beauty Products Market Segments:
- By Source
- By Type
- Creams & Moisturizers
- Masks & Serums
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