U.S. markets closed
  • S&P 500

    3,465.39
    +11.90 (+0.34%)
     
  • Dow 30

    28,335.57
    -28.09 (-0.10%)
     
  • Nasdaq

    11,548.28
    +42.28 (+0.37%)
     
  • Russell 2000

    1,640.50
    +10.25 (+0.63%)
     
  • Crude Oil

    39.78
    -0.86 (-2.12%)
     
  • Gold

    1,903.40
    -1.20 (-0.06%)
     
  • Silver

    24.70
    -0.01 (-0.04%)
     
  • EUR/USD

    1.1868
    +0.0042 (+0.36%)
     
  • 10-Yr Bond

    0.8410
    -0.0070 (-0.83%)
     
  • GBP/USD

    1.3038
    -0.0042 (-0.32%)
     
  • USD/JPY

    104.7200
    -0.1200 (-0.11%)
     
  • BTC-USD

    13,092.29
    +195.71 (+1.52%)
     
  • CMC Crypto 200

    260.05
    -1.40 (-0.54%)
     
  • FTSE 100

    5,860.28
    +74.63 (+1.29%)
     
  • Nikkei 225

    23,516.59
    +42.32 (+0.18%)
     

CBD Skin Care Market to Reach $3.48 Bn, Globally, by 2026, at 24.8% CAGR: Allied Market Research

Increase in preference toward sustainable skin care products and surge in awareness and acceptance of cannabis drive the growth of the CBD skin care market

PORTLAND, Oregon, Jan. 21, 2020 /PRNewswire/ -- Allied Market Research published a report, titled, "CBD Skin Care Market by Product Type (Oils, Lotion & Creams, Masks & Serums, Bath & Soaps, and Others), Source (Hemp and Marijuana), and Distribution Channel (Departmental Stores, E-Commerce, Hypermarkets/Supermarkets, Retail Pharmacies, and Others): Global Opportunity Analysis and Industry Forecast, 2019–2026." As per the report, the global CBD skin care market was estimated at $736.6 million in 2019 and is expected to hit $3.48 billion by 2026, registering a CAGR of 24.8% during 2019–2026.

Allied Market Research Logo
Allied Market Research Logo

Drivers, restraints, and opportunities-

Rise in preference toward sustainable skin care products, and increase in awareness and acceptance of cannabis are the major factors fueling the growth of the global CBD skin care market. On the other hand, high probabilities of product contamination and regulatory imposition on product manufacturing and marketing curtail down the growth to some extent. Nevertheless, growth in revenue through online sales channels are expected to usher in a number of opportunities for the key players in the industry.

Request Sample Report at: https://www.alliedmarketresearch.com/request-sample/6291

The hemp segment held the largest share in 2018-

Based on form, the hemp segment accounted for more than half of the global CBD skin care market revenue in 2019, and is anticipated to rule the roost during the study period. The fact that hemp seeds possess various healthy properties such as essential vitamins, minerals, flavonoids, and fatty acids has boosted the growth of the segment. Simultaneously, the marijuana segment would grow at the fastest CAGR of 25.8% till 2026. Marijuana is known to relieve insomnia, anxiety, spasticity, pain, and life-threatening conditions like epilepsy which, in turn, propels the growth of the segment.

The departmental stores segment to retain its dominance till 2026-

Based on product type, the departmental stores segment contributed to nearly one-third of the global CBD skin care market share in 2019, and is expected to dominate throughout the forecast period. CBD skincare products have been made available by the market players in small departmental shops, and hence they are attracting a large number of customers through the same. This factor has driven the growth of the segment. The e-commerce segment, on the other hand, would cite the fastest CAGR of 27.4% during 2019–2026. Online distribution has emerged as a key sales channel for CBS skincare market. This is due to rise in Internet penetration across the globe.

North America to maintain the lion's share-

Based on geography, North America held the major share in 2019, generating nearly two-fifths of the global CBD skin care market. After the passing of the 2018 Farm Bill, hemp cultivation, manufacturing, and distribution has become legal in the U.S. which has fueled the market growth. At the same time, the region across Asia-Pacific would register the fastest CAGR of 26.7% during the estimated period. Asia-Pacific is one of the untapped CBD markets and it represents enormous market opportunities to benefit from the global trend toward the legalization of cannabis.

For Purchase Enquiry at: https://www.alliedmarketresearch.com/purchase-enquiry/6291

Frontrunners in the industry-

  • Medical Marijuana Inc.

  • Leef Organics

  • Endoca LLC

  • Lord Jones

  • Fab CBD Company

  • Kiehl's LLC

  • Kapu Maku LLC

  • VERTLYBALM

  • Cannuka LLC

  • Elixinol Global Limited

Avenue Basic Plan | Library Access | 1 Year Subscription |

Sign up for Avenue subscription to access more than 12,000+ company profiles and 2,000+ niche industry market research reports at $699 per month, per seat. For a year, the client needs to purchase minimum 2 seat plan.

Avenue Library Subscription | Request for 14 days free trial of before buying: https://www.alliedmarketresearch.com/avenue/trial/starter

Get more information: https://www.alliedmarketresearch.com/library-access

Similar Reports:

Skin Care Products Market: Global Opportunity Analysis and Industry Forecast, 2014–2024

Essential Oil Soap Market: Global Opportunity Analysis and Industry Forecast, 2019–2026

Cosmetic Dyes Market: Global Opportunity Analysis and Industry Forecast, 2019–2026

Facial Serum Market: Global Opportunity Analysis and Industry Forecast, 2018–2025

About Us

Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Portland, Oregon. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of "Market Research Reports" and "Business Intelligence Solutions." AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domain.

We are in professional corporate relations with various companies and this helps us in digging out market data that helps us generate accurate research data tables and confirms utmost accuracy in our market forecasting. Each and every data presented in the reports published by us is extracted through primary interviews with top officials from leading companies of domain concerned. Our secondary data procurement methodology includes deep online and offline research and discussion with knowledgeable professionals and analysts in the industry.

Contact:

David Correa
5933 NE Win Sivers Drive
#205, Portland, OR 97220
United States
USA/Canada (Toll Free): +1-800-792-5285, +1-503-894-6022, +1-503-446-1141
UK: +44-845-528-1300
Hong Kong: +852-301-84916
India (Pune): +91-20-66346060
Fax: +1(855)550-5975
help@alliedmarketresearch.com
Web: https://www.alliedmarketresearch.com
Life Science Market: https://www.alliedmarketresearch.com/reports-store/life-sciences
Follow Us on LinkedIn: https://www.linkedin.com/company/allied-market-research

Cision
Cision

View original content:http://www.prnewswire.com/news-releases/cbd-skin-care-market-to-reach-3-48-bn-globally-by-2026--at-24-8-cagr-allied-market-research-300990197.html

SOURCE Allied Market Research