LONDON--(BUSINESS WIRE)--The CBD cosmetics market size is poised to grow by USD 3.09 billion during 2020-2024, progressing at a CAGR of about 31% throughout the forecast period, according to the latest report by Technavio. The report offers an up-to-date analysis regarding the current market scenario, latest trends and drivers, and the overall market environment. The report also provides the market impact and new opportunities created due to the COVID-19 pandemic. Download a Free Sample of REPORT with COVID-19 Crisis and Recovery Analysis.
The growing competition and consumer demand for improved products have been encouraging vendors to focus on R&D operations. To attain differentiation in the competitive market, vendors are looking at including innovative ingredients and technologies with practical benefits and minimal or no side-effects. For instance, Milk Makeup, one of the key players in the market, offers Kush Mascara that is infused with cannabis oil, which has innovative heart-shaped fibers for application and helps in thickening eyelashes. Furthermore, vendors are releasing products, which will help consumers in overcoming hair and skin-related issues such as hair loss and damage and skin drying and wrinkling due to pollution and unhealthy lifestyles. Vendors are also offering products in premium ranges to make a mark in the luxury cosmetics segment. As a result, the sales are increasing, contributing to the CBD infused cosmetics market growth.
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Report Highlights:
- The major CBD cosmetics market growth came from the skincare segment. Skincare CBD infused cosmetics include oils, creams, moisturizers, cleansers, masks, serums, lotions, and others. The increasing awareness about the importance of skincare among people is primarily driving the CBD infused cosmetics market share growth. Moreover, vendors are continuously focusing on product innovations.
- North America was the largest CBD infused cosmetics market in 2019, and the region will offer several growth opportunities to market vendors during the forecast period. The launch of innovative products, the growing use of online platforms for shopping, and the rising awareness about the benefits of using organic cosmetic products are significantly driving the CBD infused cosmetics market growth in this region.
- The CBD cosmetics market is fragmented. Cannuka LLC, Cronos Group Inc., Elixinol Global Ltd., Endoca BV, Isodiol International Inc., Khiron Life Sciences Corp., L’Oréal SA, The CBD Skincare Co., The Estée Lauder Companies Inc., and Unilever Group. are some of the major market participants. To help clients improve their market position, this CBD cosmetics market forecast report provides a detailed analysis of the market leaders.
- As the business impact of COVID-19 spreads, the CBD cosmetics market 2020-2024 is expected to have Positive growth. As the pandemic spreads in some regions and plateaus in other regions, we revaluate the impact on businesses and update our report forecasts.
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Increase in Introduction of Organic CBD Cosmetic Products will be a Key Market Trend
The rising awareness about the adverse effects of synthetic cosmetic products has increased the demand for organic CBD-infused cosmetics, which is one of the key CBD infused cosmetics market trends. Organic CBD infused organic cosmetics include ingredients such as Aloe vera, sea salt, shea butter, mango seed butter, lanolin, and others, which are preferred by the consumers at present. Further, the organic products are free from harmful ingredients such as sulfate and formaldehyde. Vendors offering organic CBD infused organic cosmetics also adhere to high standards of purity set by various regulatory bodies in different countries, increasing their reliability quotient.
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CBD cosmetics Market 2020-2024: Key Highlights
- CAGR of the market during the forecast period 2020-2024
- Detailed information on factors that will assist CBD cosmetics market growth during the next five years
- Estimation of the CBD cosmetics market size and its contribution to the parent market
- Predictions on upcoming trends and changes in consumer behavior
- The growth of the CBD cosmetics market
- Analysis of the market’s competitive landscape and detailed information on vendors
- Comprehensive details of factors that will challenge the growth of CBD cosmetics market vendors
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PART 01: EXECUTIVE SUMMARY
PART 02: SCOPE OF THE REPORT
- Preface
- Currency conversion rates for US$
PART 03: MARKET LANDSCAPE
- Market ecosystem
- Market characteristics
- Market segmentation analysis
- Value chain analysis
PART 04: MARKET SIZING
- Market definition
- Market sizing 2019
- Market outlook
- Market size and forecast 2019-2024
PART 05: FIVE FORCES ANALYSIS
- Bargaining power of buyers
- Bargaining power of suppliers
- Threat of new entrants
- Threat of substitutes
- Threat of rivalry
- Market condition
PART 06: MARKET SEGMENTATION BY PRODUCT
- Market segmentation by product
- Comparison by product
- Skincare - Market size and forecast 2019-2024
- Make-up and haircare - Market size and forecast 2019-2024
- Fragrances - Market size and forecast 2019-2024
- Others - Market size and forecast 2019-2024
- Market opportunity by product
PART 07: CUSTOMER LANDSCAPE
PART 08: GEOGRAPHIC LANDSCAPE
- Geographic segmentation
- Geographic comparison
- North America - Market size and forecast 2019-2024
- Europe - Market size and forecast 2019-2024
- APAC - Market size and forecast 2019-2024
- South America - Market size and forecast 2019-2024
- MEA - Market size and forecast 2019-2024
- Key leading countries
- Market opportunity
PART 09: DECISION FRAMEWORK
PART 10: DRIVERS AND CHALLENGES
- Market drivers
- Market challenges
PART 11: MARKET TRENDS
- Increase in introduction of organic CBD cosmetic products
- Multichannel distribution for CBD cosmetics
- Growing popularity of anti-pollution and anti-aging CBD-infused cosmetic products
PART 12: VENDOR LANDSCAPE
- Overview
- Landscape disruption
- Competitive scenario
PART 13: VENDOR ANALYSIS
- Vendors covered
- Vendor classification
- Market positioning of vendors
- Cannuka LLC
- Cronos Group Inc.
- Elixinol Global Ltd.
- Endoca BV
- Isodiol International Inc.
- Khiron Life Sciences Corp.
- L’Oréal SA
- The CBD Skincare Co.
- The Estée Lauder Companies Inc.
- Unilever Group
PART 14: APPENDIX
- Research methodology
- List of abbreviations
- Definition of market positioning of vendors
PART 15: EXPLORE TECHNAVIO
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