12.21.21
The global CBD skin care market is expected to Reach $3.4 billion By 2026, with a CAGR of 24.80, according to a report by Allied Market Research.
The report said the legalization of cannabis and cannabis derivatives including cannabidiol (CBD) and hemp oil have increased the popularity of these ingredients in beauty.
Consumers are looking for CBD-infused products with natural active ingredients over other chemical based cosmetics.
As a result, the cosmetics and personal care industries are expected to witness significant growth in cosmetic product infused with CBD and hemp oil.
North America is anticipated to dominate the CBD skin care market share, registering a CAGR of 24.3% during the forecast period.
The E-commerce segment is estimated to grow at a CAGR of 27.4% during the forecast period.
