CBD Infused Cosmetics Market: Introduction
- CBD (Cannabidiol) is a non-alcoholic extract of the hemp plant. In 2018, the hemp plant was officially recognized as an agricultural crop. Hemp plant is similar to the marijuana plant and both the plants are part of cannabis. However, hemp plants comprise up to 0.3% THC called the psychoactive ingredient. If a CBD plant’s THC level is more than 0.3%, then it is classified as a marijuana plant.
Key Drivers of the Global CBD Infused Cosmetics Market
- Globally, the CBD infused cosmetics market is growing owing to the expansion of product portfolio and manufacturers targeting premium customers by launching premium products. Moreover, the growing adoption of organic CBD cosmetic products is projected to drive the demand for CBD infused cosmetics.
- Prominent manufacturers of CBD infused cosmetics are launching products for men, as a result of the rise in demand from this segment. Grooming as a regimen is not restricted to women anymore and thus manufacturers are catering to the increasing demand from the men’s segment.
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Factors Restraining the Global CBD Infused Cosmetics Market
- CBD remains an illegal market in various countries and hence continues to face slow demand growth due to restricted regional availability. Furthermore, complex rules and regulatory strictures by governments relating to the usage of CBD is anticipated to hamper the CBD infused cosmetics market across the globe throughout the forecast years.
Market in Asia Pacific to Expand Rapidly
- In terms of geography, the global CBD infused cosmetics market can be divided into five regions North America (NA), Europe (EU), Asia Pacific (APAC), Middle East & Africa (MEA), and South America (SA)
- North America country-level analysis features the U.S., Canada, and Rest of North America. Analysis and forecast of the CBD infused cosmetics market in Europe includes markets across the U.K., Germany, France, and Rest of Europe. Similarly, Asia Pacific includes India, China, Japan, and Rest of Asia Pacific. Middle East & Africa includes the CBD infused cosmetics market analysis and forecast of GCC countries, South Africa, and Rest of Middle East & Africa. The South America CBD infused cosmetics market is segmented into Brazil, and Rest of South America.
- Europe captured the largest share of the CBD infused cosmetics market due to awareness about personal care and preference for online shopping.
- The CBD infused cosmetics market in Asia Pacific is projected to expand rapidly during the forecast period. Well known countries specializing in the beauty business such as Korea, Japan, China, and India are expected to offer promising opportunities for the CBD infused cosmetics market.
Key Players Operating in the Global Market
Companies in the CBD infused cosmetics market are focusing on strengthening their distribution channels in organized retailing to increase sales revenue. Moreover, beauty bloggers and vloggers provide an effective channel to expand consumer reach. Manufacturers provide free samples to these bloggers who post product reviews on their social media channels. Furthermore, manufacturers are collaborating with farmers to source ingredients directly from them. This increases the product’s attractiveness to the consumer.
For instance, in April 2020, Astral Brands-owned Pür launched seven CBD makeup products through its own DTC site and Ulta.com. The brand is bullish on the sub-category and plans to expand further over the next two years.
In September 2019, Smith & Cult, an ultra-exclusive makeup and nail brand in the U.S, launched a clear CBD lip balm.
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A few of the key players operating in the global CBD infused cosmetics market are:
- Cannuka, LLC
- CBD For Life
- EarthlyBody (CBD Daily)
- Josie Maran Cosmetics
- Kapu Maku LLC. (Populum)
- LEEF Organics
- Lord Jones
- Sephora USA, Inc.
- The CBD Skincare Co
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