” Another business knowledge Report released by Data Bridge Market Research with title Cannabidiol (CBD) Skin Care Market – Industry Trends and Forecast to 2029 Geography, By Source (Hemp, Marijuana), Type (Oil, Creams and Moisturizers, Masks and Serums, Cleansers, Others), Application (Mass Market, Smoke Shops, E-commerce, others), Distribution (Online Sales, Offline Sales) has capacity to become the largest market worldwide as it has remained assuming a momentous job in building up dynamic effects on the general economy.
Global Cannabidiol (CBD) Skin Care Market was valued at USD 952.91 million in 2021 and is expected to reach USD 7583.91 million by 2029, registering a CAGR of 29.60% during the forecast period of 2022-2029. In addition to the market insights such as market value, growth rate, market segments, geographical coverage, market players, and market scenario, the market report curated by the Data Bridge Market Research team includes in-depth expert analysis, import/export analysis, pricing analysis, production consumption analysis, and consumer behavior.
The Latest Research Report Global CBD Skin Care Market – Global Industry Analysis, Size, Share, Growth, Trends And Forecast 2022 – 2029 provides information on pricing, market analysis, shares, forecast, and company profiles for key industry participants. – Data Bridge Market Research
Click Here for Sample PDF + Related Graphs of the Report @ https://www.databridgemarketresearch.com/request-a-sample/?dbmr=global-cbd-skin-care-market
Market Definition
Cannabidiol (CBD) is a non-intoxicating compound, which is generally extracted from marijuana or hemp plants in the form of powder and is used for various skin care purposes. The skincare and personal care products infused with cannabidiol (CBD) possess various types of beneficial skin-soothing, relaxing, anti-anxiety, pain-relieving properties, hydrating, antioxidant and anti-inflammatory properties which aids in treating dry skin or certain inflammatory skin disorders.
Cannabidiol (CBD) Skin Care Market Dynamics
This section deals with understanding the market drivers, advantages, opportunities, restraints and challenges. All of this is discussed in detail as below:
Drivers
- Growing Awareness Regarding its Benefits
The cannabidiol skin care is becoming increasingly popular across the globe, owing to the increased awareness about the benefits of cannabidiol and its medicinal properties. Moreover, the increasing adoption of CBD skin care products as it possess antioxidant properties counteracting the signs of aging boosts the overall demand for the cannabidiol (CBD) skin care market.
Furthermore, the factors such as surge in public-private funding for targeted research activities, high disposable income, rapid urbanization, changing lifestyles, and rising product innovations and development due to technological advancements worldwide boost the market value. Moreover, increased internet penetration, continued product development and commercialization, government supportive regulations for the use of cannabis-related products, particularly in developing nations, and rising per capita expenditure will all contribute to the market’s future growth rate.
Opportunities
- Growing Technological Advancements
Furthermore, the increasing number of technological advancements driven with a view to minimize the production costs coupled with the developmental operations directed towards sustainable development to ensure optimum and judicious use of resources generate lucrative opportunities to the market players in the forecast period of 2022 to 2029.
- Funding and Research and Development (R&D) Activities
The surging funding from federal government pertaining to the research and development proficiencies are projected to expand the future growth of the cannabidiol (CBD) skin care market. Moreover, the various research and development (R & R&D) activities aimed at lowering THC content and a growing emphasis on obtaining faster regulatory approval will positively influence market growth.
Restraints/Challenges
- Issues Associated with Raw Material Prices and Availability
Fluctuations or volatility in the cost of raw materials hampers the overall market’s growth. Furthermore, the cannabidiol (CBD) skin care ‘ ‘market’s expansion is being hampered by the inconsistent availability of raw materials in one location.
- Norms, Standards and Regulations
The government’s imposition of rigorous rules on a wide variety of industrial applications relevant to industrial activities will further slow the market’s growth pace. Lack of standardization rules, a lack of awareness in backward economies regarding the benefits and high costs of cannabis products, and a shift in the demand-supply spectrum due to regulatory strengthening in the Asia-Pacific area would exacerbate the market position. As a result, these factors are estimated to challenge the cannabidiol (CBD) skin care market over the forecast period.
Additionally, the CBD skin care products can induce skin swelling, itching, and peeling. This factors will further stymie market expansion.
This cannabidiol (CBD) skin care market report provides details of new recent developments, trade regulations, import-export analysis, production analysis, value chain optimization, market share, impact of domestic and localized market players, analyses opportunities in terms of emerging revenue pockets, changes in market regulations, strategic market growth analysis, market size, category market growths, application niches and dominance, product approvals, product launches, geographic expansions, technological innovations in the market. To gain more info on the cannabidiol (CBD) skin care market contact Data Bridge Market Research for an Analyst Brief, our team will help you take an informed market decision to achieve market growth.
COVID-19 Impact on Cannabidiol (CBD) Skin Care Market
The recent outbreak of coronavirus had a huge impact on the cannabidiol (CBD) skin care market. The pandemic had an impact on several manufacturing businesses in the years 2020-2021, resulting in the closure of workplaces, interruption of supply chains, and transit limitations. Several economies within the region implemented a lockdown in this face, resulting in production and industrial facilities stoppage. The supply chain of various manufacturing units and several table utilities around the world were significantly affected during this period, resulting in a significant loss in revenues and earnings.
Some of the major players operating in the cannabidiol (CBD) skin care market are
- Canopy Growth Corporation (Canada)
- The Cronos Group (Canada)
- Tilray. (U.S.)
- Hexo (Canada)
- CannTrust (Canada)
- Aurora Cannabis Inc. (Canada)
- GW Pharmaceuticals plc. (UK)
- VIVO Cannabis Inc. (Canada)
- Alkaline88, LLC. (U.S.)
- NewAge Inc. (U.S.)
- Cannara. (Canada)
- Dixie Brands (U.S.)
- KANNAWAY LLC. (U.S.)
- The Supreme Cannabis Company, Inc (Canada)
- CANNABIS Aphria (Canada)
- CURA CS, LLC. (U.S.)
- KAZMIRA (U.S.)
- Curaleaf (U.S.)
- CannazALL (U.S.)
However, with the increasing relaxations, a rise in import and export is significantly expected. Respective governing authorities are beginning to lift these enforced lockdowns which is a positive sign for the market.
Recent Development
- In December 2021, Sentient Brands has launched its Oeuvre influencer and social media marketing campaign. According to Sentient Brands, Oeuvre’s product design, formulas, and disruptive “Luxury Clean Beauty” branding strategy set it apart in a market cluttered with homogeneous CBD skincare products. The Company’s Oeuvre social media marketing plan is now focusing on influencer marketing and paid advertising on Instagram, Facebook, and Pinterest.
Access Full PDF Report @ https://www.databridgemarketresearch.com/reports/global-cbd-skin-care-market
Synopsis of the report
- The CBD Skin Care Market also makes some important proposals for a new project in the market before evaluating its feasibility.
- So this report encourages you to differentiate the opportunities in worldwide Market by region.
- The report focuses on the volume and value at the global level, regional level and company level.
- It analyzes the opportunities in the market for business stakeholders by recognizing the high growth segments, threats, market drivers and risks involved.
Fundamentals of Table of Content:
1 Report Overview
1.1 Study Scope
1.2 Key CBD Skin Care Market Segments
1.3 Players Covered
1.4 CBD Skin Care Market Analysis by Type
1.5 Market by Application
1.6 Study Objectives
1.7 Years Considered
2 Global CBD Skin Care Market Growth Trends
2.1 CBD Skin Care Market Size
2.2 CBD Skin Care Market Growth Trends by Regions
2.3 Industry Trends
3 Market Share by Key Players
3.1 CBD Skin Care Market Size by Manufacturers
3.2 CBD Skin Care Key Players Head office and Area Served
3.3 Key Players CBD Skin Care Market Product/Solution/Service
3.4 Date of Enter into CBD Skin Care Market
3.5 Mergers & Acquisitions, Expansion Plans
4 Breakdown Data by Product
4.1 Global CBD Skin Care Market Sales by Product
4.2 Global CBD Skin Care Market Revenue by Product
4.3 CBD Skin Care Market Price by Product
5 Breakdown Data by End User
5.1 Overview
5.2 Global CBD Skin Care Market Breakdown Data by End User
Browse Complete Table of Contents at: https://www.databridgemarketresearch.com/toc/?dbmr=global-cbd-skin-care-market
Top Trending Reports:
About Data Bridge Market Research:
An absolute way to forecast what future holds is to comprehend the trend today!
Data Bridge Market Research set forth itself as an unconventional and neoteric Market research and consulting firm with unparalleled level of resilience and integrated approaches. We are determined to unearth the best market opportunities and foster efficient information for your business to thrive in the market. Data Bridge endeavors to provide appropriate solutions to the complex business challenges and initiates an effortless decision-making process. Data Bridge is an aftermath of sheer wisdom and experience which was formulated and framed in the year 2015 in Pune.
Contact:
Data Bridge Market Research
US: +1 888 387 2818
UK: +44 208 089 1725
Hong Kong: +852 8192 7475
