Global CBD Skincare Market 2020-2024 | Evolving Opportunities with Cronos Group Inc. and Elixinol Global Ltd. | Technavio – Olean Times Herald

LONDON–(BUSINESS WIRE)–Feb 18, 2020–

The CBD skincare market is poised to grow by USD 1.64 billion during 2020-2024, progressing at a CAGR of over 33% during the forecast period. Request free sample pages

Technavio has announced its latest market research report titled global CBD skincare market 2020-2024 (Graphic: Business Wire)

Read the 149-page report with TOC on “CBD Skincare Market Analysis Report by Type (oils, cream, moisturizer, and cleanser and mask, serum, and lotion), Source (hemp and marijuana), and Geography (North America, APAC, Europe, South America and MEA), and the Segment Forecasts, 2020-2024”.

The market is driven by the benefits of CBD in skincare. In addition, the growing demand among millennial and middle-aged populations is anticipated to boost the growth of the CBD skincare market.

The numerous skin benefits of CBD make it a popular ingredient in many skincare products such as oils, creams, lotions, balms, and serums. The anti-inflammatory benefits of CBD make it a suitable ingredient for skincare products that can be used on acne-prone skin. CBD also helps in reducing excess sebum production and, thereby, helps in controlling acne. CBD is considered a natural remedy for treating psoriasis, a chronic autoimmune disease, where skin cells grow at an accelerated rate. The skin calming and skin normalizing properties of CBD make it ideal for sensitive skin by minimizing issues related to skin sensitivity, such as skin redness. Such benefits will drive the growth of the CBD skincare market during the forecast period.

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Major Five CBD Skincare Companies:

Cronos Group Inc.

Cronos Group Inc. is involved in the production and sale of cannabis through its wholly owned subsidiaries, OGBC and Peace Naturals. The company offers a range of hemp-derived CBD-based skincare products such as body oil, lotion, and cream.

Elixinol Global Ltd.

Elixinol Global Ltd. has its business operations under two segments, such as Elixinol USA and Hemp Foods Australia. The company offers a range of hemp-based products such as lip balm, deodorant, hand cream, moisturizer, cleanser, serum, body wash, hair shampoo, and hair conditioner.

Headquartered in the Netherlands, Endoca BV offers CBD oil, CBD capsules, CBD creams, skincare products, and pet products. The company’s offerings include CBD-infused salve; cream; and lip and skin moisturizer.

Isodiol International Inc.

Isodiol International Inc. offers beverages, candies, capsules, coffee, oral spray, tinctures, tropicals, and kits and bundles using CBD. The company’s key offerings include CBD-based products such as serum, cream, lip and eye gel, toner, night cream, cleanser, and enzyme mask.

Josie Maran Cosmetics LLC

Josie Maran Cosmetics LLC offers skincare, makeup, bath, and body products. The company’s key offerings include CBD skin dope, which is offered in a combination of argan oil with hemp seed oil and CBD oil.

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CBD Skincare Type Outlook (Revenue, USD Billion, 2020-2024)

  • Oils
  • Cream, moisturizer, and cleanser
  • Mask, serum, and lotion

CBD Skincare Source Outlook (Revenue, USD Billion, 2020-2024)

  • Hemp
  • Marijuana

CBD Skincare Regional Outlook (Revenue, USD Billion, 2020-2024)

  • North America
  • APAC
  • Europe
  • South America
  • MEA

Technavio’s sample reports are free of charge and contain multiple sections of the report, such as the market size and forecast, drivers, challenges, trends, and more.Request a free sample report

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INDUSTRY KEYWORD: MEDICAL SUPPLIES WOMEN FITNESS & NUTRITION CHEMICALS/PLASTICS MANUFACTURING OTHER HEALTH CONSUMER HEALTH COSMETICS RETAIL

SOURCE: Technavio Research

Copyright Business Wire 2020.

PUB: 02/18/2020 04:30 AM/DISC: 02/18/2020 04:30 AM

Source: http://www.oleantimesherald.com/business/global-cbd-skincare-market—evolving-opportunities-with-cronos/article_f7ea3a1f-cd51-59b9-99d6-d1c854601ac2.html


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