The remarkable growth rate of nearly 31.3% is attributed to growing benefits of CBD in cosmetics and changing regulatory scenarios in Asia Pacific economies. The main factors driving the growth of CBD Cosmetics market are numerous skin benefits, growing skincare market in Asian countries and changes in regulatory scenarios across the globe.
Dallas, Texas, Aug. 24, 2019 (GLOBE NEWSWIRE) — The “Global Cannabidiol (CBD) Cosmetics Market Size 2018 by Product Type (moisturizers and creams, masks and serums, cleansers, sunscreens, other cosmetic products), by Source (hemp, marijuana), by distribution channel (pharmacies, hypermarkets and supermarkets, retail, online, others), by Region and Forecast 2019 to 2025” study provides an elaborative view of historic, present and forecasted market estimates.
The market research report on CBD cosmetics industry assesses the market demand, use cases & trending scenario for the period ranging from 2015 to 2025. The report highlights the historic developments from 2015 to 2018 & market forecast from 2019 to 2025. Furthermore, the report comprises the current status & future prospects of the market at global as well as region and country levels. The global CBD cosmetics market is segmented on the basis of product type, source, distribution channel and geography.
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Major players operating in the CBD cosmetics market are Lord Jones, Green Growth Brands, Canuka, LLC, Kiehl’s LLC, Josie Maran Cosmetics, The CBD Skin Care Company, CBD For Life, Ildi Pekar Skin Care & Spa, Kana Skincare, Leef Organics, L’eela CBD BodyCare, FAB CBD, Elixinol Global Limited, and Charlotte’s Web Holdings Inc. among other prominent players.
This report also examines various aspects of the CBD cosmetics industry by assessing the market using value chain analysis. It includes a qualitative narrative on market drivers, market restraints, future opportunities and key industry trends of the CBD cosmetics industry. Furthermore, it provides an in-depth assessment of the market competition with company profiles of global as well as local manufacturers.
The potential of the CBD industry has urged several investors to enquire about the CBD business. The industry however comes with its own challenges particularly in terms of the legal landscape, but the opportunity in the industry is significant. The big businesses have also recognized the potential of the CBD industry in terms of the versatile product offerings. Considering the consumer behavior, a rapid shift towards following an organic and healthy lifestyle, consumers are increasingly interested in adopting alternative therapies and products that shall assist them in leading a healthy life.
Large scale retailers have stepped in to support the CBD industry, post the introduction of the 2018 Farm Bill. Since January 2019, Neiman Marcus initiated introducing a wide range of CBD infused products in its stores, sourced from the leading brands. Recently, Sephora announced the introduction of a CBD section in their stores. Key beverages company Coca Cola announced its interest in CBD beverages. Target also invested in a limited-time offer of CBD oil. Outside the U.S., several retailers are also moving towards offering CBD products. For instance, Holland & Barrett began offering their in-house line of CBD infused skincare items.
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The overall CBD industry is still fresh with regulations being introduced only recently. Furthermore, clarification in terms of legal provisions shall lead to further addition of businesses in healthcare, food and wellbeing space. At present regulatory authorities like the FDA still have not defined how exactly they plan to test and authorize hemp growers. Though CBD has been made legal, it is yet to be understood and defined where the CBD should be sourced from and processed.
On the basis of source, CBD cosmetics market is segmented into hemp and marijuana. Majority of the market is dominated by hemp due to low THC content and is anticipated to follow similar trend through 2025.
On the basis of distribution channel, the global CBD cosmetics market is segmented into pharmacies, hypermarkets and supermarkets, retail, and online among other distribution channels. Online medium holds the majority market share and is anticipated to dominate the global market.
The cosmetics industry is already disrupted with the entry of e-commerce companies. Several e-commerce trends have led to emergence and rapid circulation of a diverse range of products and brands in the e-commerce space. Advent of social media, paid and organic search has enabled e-commerce to become an Omni channel, and multi brand stores such as Glossier and Sephora have gained prominent advantage. New and exciting CBD brands are regularly popping in the market. The reach of social media is further boosting the growth of online medium in the global CBD cosmetic space.
On the basis of regional analysis of CBD cosmetics industry, North America leads the global CBD cosmetics market. As more countries legalize marijuana, the beauty and wellness ingredient has also been enjoyed by a cannabis plant by-product called CBD oil. And it will only become more common. Spurned largely by a demographic change in the personal care industry as well as an increase in demand for organic and natural products, demand for skin care and beauty products has risen and the market has skyrocketed worldwide. In reality, the worldwide skin care industry was valued at USD 116.3 billion in 2015, and U.S. generated income of only USD 12.83 billion. And within this amazing beauty boom, there is one specific ingredient that is expected to become the breakout star i.e. cannabidiol.
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Major points from Table of Contents:
Chapter 1. Executive Summary
Chapter 2. Research Methodology
Chapter 3. Market Outlook
Chapter 4. CBD Cosmetics Market Overview, By Product Type
Chapter 5. CBD Cosmetics Market Overview, By Source
Chapter 6. CBD Cosmetics Market Overview, By Distribution Channel
Chapter 7. CBD Cosmetics Market Overview, By Region
Chapter 8. Company Profiles
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