PALM BEACH–The personal care industry has witnessed a shift in consumer demand toward CBD infused skin care and CBD healthcare products. The category has grown exponentially over the past few years. That growth is expected to continue for years to come. The sale of American-produced CBD personal care products has doubled due to consumer demand for CBD and it’s availability in multi-channel distribution by wholesales, private labelers, and brands. Most importantly, CBD has succeeded because CBD works and because of its perceived efficacy in skin care.
Many industry stakeholders are developing new product lines of CBD infused personal care products. These product lines primarily include: skin care, hand care, in balms, lotions and tinctures and recently lip moisturizer products. Companies are primarily marketing the anti-inflammatory properties of cannabis in their skin care products.
New innovative formulations of CBD infused skin care products, for example for sports people and athletes, or for seniors, are expected to boost the CBD skin care market growth well into the next decade. As well as promoting CBD for its anti-inflammatory properties, companies are promoting CBD as the “natural cosmetic” in the market. The multi-functional attributes of cannabis, combined with targeting segments like seniors, is expected to further propel the demand for CBD skin care products.
A report from Allied Market Research projected that the global CBD skin care market size was valued at $633.6 million in 2018. It is anticipated to reach $3,484.00 million by 2026, with a CAGR of 25% during the forecast period.
The Allied Market Research report said: “Holistic benefits of CBD infused skin care products are in the spotlight after the legalization of marijuana and cannabis based cosmetics. CBD infused skin product is gaining popularity among consumers due to its calming properties. It has a potential to relive common skin issue through its anti-inflammatory, anti-oxidant properties.”
CBD-based skin care product also offers various benefits such as improved sleep and also helps in the treatment of various skin conditions such as eczema and psoriasis, as well as acne. But clinical studies are only recently arriving. For marketers, that means it’s very difficult in making advertising claims around CBD’s benefits or efficacy.
The unique benefits associated with CBD based skin care has been capitalized by cannabis companies. Now the main-stream cosmetic companies will be next in line to evaluate using cannabis, to make their skin care products really work.
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