CBD Skin Care 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 Skin Care Market
- Rise in disposable income over the years is anticipated to boost the demand for CBD skin care, which includes high quality oil, cream, cleanser, and other products. Increase in fashion awareness among the youth in emerging economies is projected to propel the demand for CBD skin care products in tier-II and tier-III metropolises.
- In terms of dealing with increasing inflammatory conditions, CBD is helpful in reducing sebum production clinically, reduces inflammation on a cellular level, reduces redness, and suppresses itch. Moreover, CBD helps in lowering the duration of breakouts and aids the skin’s natural healing process. CBD also helps to bring down pain caused by inflammatory skin conditions. These factors are anticipated to drive the demand for CBD skin care products in the near future.
CBD an Illegal Market in Some Regions – A Major Restraint
- CBD is still an illegal market in several countries and therefore continues to face slow demand growth due to limited regional availability. Moreover, complicated rules and regulatory structures by governments pertaining to the usage of CBD is projected to hinder the global demand for CBD skin care products throughout the forecast years between 2019 and 2027.
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Market in Asia Pacific to Expand Rapidly
- In terms of geography, the global CBD skin care 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 skin care 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 skin care market analysis and forecast of GCC countries, South Africa, and Rest of Middle East & Africa. The South America CBD skin care market is segmented into Brazil, and Rest of South America.
- The Asia Pacific market is projected to witness substantial growth 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 skin care market. However, cannabis is mostly illegal all across Asia. Despite this, Korean and Japanese beauty products are dominating the global skin and personal care market. Hence, the Asia Pacific region is anticipated to observe fastest growth in the CBD skin care market.
Key Players Operating in the Global Market
Players in the global CBD skin care 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. These are some of the important strategies being adopted by key players. A few of the key players operating in the global CBD skin care market are:
- Cannuka, LLC
- CBD for Life
- Earthlybody (CBD Daily)
- Josie Maran Cosmetics
- Kapu Maku LLC.(Populum)
- LEEF Organics
- Lord Jones
- The CBD Skincare.co
Global CBD Skin Care Market: Research Scope
Global CBD Skin Care Market, by Product Type
- Moisturizers & Cream
- Others (Lip Balm, Mask etc.)
Global CBD Skin Care Market, by Source
Global CBD Skin Care Market, by Distribution Channel
Global CBD Skin Care Market, by Region
- North America
- Rest of Europe
- Asia Pacific
- Rest of Asia Pacific
- Middle East & Africa
- South Africa
- Rest of Middle East & Africa
- South America
- Rest of South America
This study by TMR is all-encompassing framework of the dynamics of the market. It mainly comprises critical assessment of consumers’ or customers’ journeys, current and emerging avenues, and strategic framework to enable CXOs take effective decisions.
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Our key underpinning is the 4-Quadrant Framework EIRS that offers detailed visualization of four elements:
- Customer Experience Maps
- Insights and Tools based on data-driven research
- Actionable Results to meet all the business priorities
- Strategic Frameworks to boost the growth journey
The study strives to evaluate the current and future growth prospects, untapped avenues, factors shaping their revenue potential, and demand and consumption patterns in the global market by breaking it into region-wise assessment.
The following regional segments are covered comprehensively:
- North America
- Asia Pacific
- Latin America
- The Middle East and Africa
The EIRS quadrant framework in the report sums up our wide spectrum of data-driven research and advisory for CXOs to help them make better decisions for their businesses and stay as leaders.
Below is a snapshot of these quadrants.
1. Customer Experience Map
The study offers an in-depth assessment of various customers’ journeys pertinent to the market and its segments. It offers various customer impressions about the products and service use. The analysis takes a closer look at their pain points and fears across various customer touchpoints. The consultation and business intelligence solutions will help interested stakeholders, including CXOs, define customer experience maps tailored to their needs. This will help them aim at boosting customer engagement with their brands.
2. Insights and Tools
The various insights in the study are based on elaborate cycles of primary and secondary research the analysts engage with during the course of research. The analysts and expert advisors at TMR adopt industry-wide, quantitative customer insights tools and market projection methodologies to arrive at results, which makes them reliable. The study not just offers estimations and projections, but also an uncluttered evaluation of these figures on the market dynamics. These insights merge data-driven research framework with qualitative consultations for business owners, CXOs, policy makers, and investors. The insights will also help their customers overcome their fears.
3. Actionable Results
The findings presented in this study by TMR are an indispensable guide for meeting all business priorities, including mission-critical ones. The results when implemented have shown tangible benefits to business stakeholders and industry entities to boost their performance. The results are tailored to fit the individual strategic framework. The study also illustrates some of the recent case studies on solving various problems by companies they faced in their consolidation journey.
4. Strategic Frameworks
The study equips businesses and anyone interested in the market to frame broad strategic frameworks. This has become more important than ever, given the current uncertainty due to COVID-19. The study deliberates on consultations to overcome various such past disruptions and foresees new ones to boost the preparedness. The frameworks help businesses plan their strategic alignments for recovery from such disruptive trends. Further, analysts at TMR helps you break down the complex scenario and bring resiliency in uncertain times.
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The report sheds light on various aspects and answers pertinent questions on the market. Some of the important ones are:
1. What can be the best investment choices for venturing into new product and service lines?
2. What value propositions should businesses aim at while making new research and development funding?
3. Which regulations will be most helpful for stakeholders to boost their supply chain network?
4. Which regions might see the demand maturing in certain segments in near future?
5. What are the some of the best cost optimization strategies with vendors that some well-entrenched players have gained success with?
6. Which are the key perspectives that the C-suite are leveraging to move businesses to new growth trajectory?
7. Which government regulations might challenge the status of key regional markets?
8. How will the emerging political and economic scenario affect opportunities in key growth areas?
9. What are some of the value-grab opportunities in various segments?
10. What will be the barrier to entry for new players in the market?
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