CBD Skin Care Market to be Worth $8.62 Billion by 2030

The global skin care products market size is expected to reach $196.20 billion by 2030. Out of that tally in the name of beauty, the global CBD skin care market’s slice of the pie is expected to reach $8.62 billion, according to a new report by Grand View Research.

Grand View Research, a San Francisco-based market research and consulting company, projects a study CAGR of 31.5% over that same period, owing to a growing awareness regarding CBD-based skin care products.

Also expected to boost sales are normalizing regulations related to the import of CBD cosmetic and personal care products. Consumers in China have also become aware of the therapeutic benefits associated with CBD and are increasingly integrating them into their regular skin care routines.

Key Industry Insights & Findings from the report:

• The department store segment was the largest in 2022 due to easy accessibility at nearby locations. For instance, in January 2021, Avon launched CBD skin care products through its luxury department store.
• The masks & serums segment is projected to register the fastest growth rate during the forecast period owing to their easy application and fast results.
• The hemp-based CBD skin care accounted for the largest share in 2022. Hemp-based CBD products are expected to maintain dominance over the forecast period owing to their rising popularity among skin-conscious consumers.
• North America held the largest revenue share of the CBD skin care market in 2022, owing to the easy production and trade of cannabis in the region. The global industry is fragmented with a major share almost equally divided among key players.

To read full market research report, “CBD Skin Care Market Size, Share & Trends Analysis Report,” visit https://www.grandviewresearch.com.