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Cannabis Infused Beauty Products Market Segments: By Source (Hemp and marijuana); By Type (Oils, Creams & Moisturizers, Masks & Serums, Cleansers and Others); and Region - Global Analysis of Market Size, Share & Trends for 2019 - 2020 and Forecasts to 2030
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 18.5 million by 2030 from USD 6.27 million in 2020 at a CAGR of 11.5% 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.
Global Cannabis-Infused Beauty Products Market is segmented by source into Hemp and marijuana. Hemp segment held the largest market share of XX.X% 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 skin care products available.
Global Cannabis Infused Beauty Products Market is segmented by type into Oils, Creams & Moisturizers, Masks & Serums, Cleansers, and Others. Over the forecast period, the oil type segment is projected to expand at the fastest pace. In the personal care industry, these product types are becoming increasingly popular. Owing to its anti-inflammatory properties, it is especially beneficial for acne, aging, and wrinkle-prone skin. CBD oil also contains antioxidants, which assist in the reduction of noticeable signs of aging.
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 them in the luxury cosmetics industry. As a result, sales are growing, leading to the growth of the CBD-infused cosmetics industry.
One of the main CBD-infused cosmetics industry trends is the increasing awareness of the harmful effects of synthetic cosmetics, which has increased demand for organic CBD-infused cosmetics. Aloe vera, sea salt, shea butter, mango seed butter, lanolin, and other ingredients contained in organic CBD infused organic cosmetics are among the most common among consumers today. Additionally, toxic additives like sulfate and formaldehyde are absent from organic products. Organic CBD infused organic cosmetics vendors must also adhere to strict purity requirements set by various regulatory bodies in various countries, raising their trustworthiness.
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.
Cronos Group Inc.
Company Overview, Business Strategy, Key Product Offerings, Financial Performance, Key Performance Indicators, Risk Analysis, Recent Development, Regional Presence, SWOT Analysis
Global Cannabis Infused Beauty Products Market is segmented based on regional analysis into five major regions. These include North America, Latin America, Europe, Asia Pacific and the Middle East and Africa.
Global Cannabis-Infused Beauty Products Market in North America held the largest market share of XX.X% in the year 2020 in terms of revenue. Because of the large consumer base and the legalization of marijuana in the United States and Canada, demand for CBD skin care products in North America is expected to remain strong. Over the next few years, legalization and the presence of influential beauty care manufacturers are expected to lead to market growth. In the coming years, Asia Pacific is expected to rise significantly. Leading beauty expert countries such as China, India, Japan, and Korea are expected to provide potential market growth opportunities.
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