Hemp CBD Skin Care Market Size (2024 – 2030)

The Global Hemp CBD Skin Care Market attained a valuation of USD 2.58 billion and is poised to achieve a market size of USD 5.81 billion by the conclusion of 2030. Projections for the period spanning from 2024 to 2030 indicate a growth trajectory with a CAGR of 12.3%.

CBD (Cannabidiol) represents a naturally occurring chemical constituent present in various cannabis plants, inclusive of marijuana and hemp. It serves as a primary active ingredient within cannabis, distinct from THC (tetrahydrocannabinol), which stands as another major component. Contrary to THC, pure CBD functions as a non-psychoactive cannabinoid, lacking the ability to induce an altered state in individuals. Studies indicate potential benefits of CBD in alleviating anxiety, chronic inflammation, pain, insomnia, and specific forms of childhood epilepsy.

Hemp, a variation of the Cannabis sativa plant species, is cultivated selectively for industrial purposes, contributing to a wide array of products such as medical marijuana. Similar to bamboo, hemp is among the fastest-growing plants globally. Its applications encompass addressing conditions such as constipation, elevated cholesterol, eczema (atopic dermatitis), and inflammation. Noteworthy, hemp seeds harbor fats, proteins, and other constituents, with the fats potentially aiding in inflammation reduction, thereby fostering the expansion of the hemp CBD industry. The collaboration between the endocannabinoid system and CBD aims to alleviate a broad spectrum of symptoms by engaging diverse biological pathways believed to yield therapeutic effects.

Specific compounds within hemp seeds facilitate bowel movements and mitigate blood pressure. The Hemp CBD Industry is evolving, driven by the increasing adoption of sophisticated CBD products and the legalization of medical marijuana and marijuana-derived products for various medical purposes. Additionally, the utilization of hemp CBD is on an upward trajectory, attributed to its anti-inflammatory, anti-aging, and antioxidant properties. Sectors such as pharmaceuticals, personal care and cosmetics, and food and beverages are actively engaged in the production of CBD-derived products for health and wellness, thereby contributing to the projected market growth throughout the forecast period spanning from 2024 to 2028.

Impact of COVID-19 on the Hemp CBD Skin Care Market:

COVID-19, an infectious ailment stemming from the novel coronavirus, emerged in Wuhan, China, in December 2019, rapidly evolving into a global pandemic. This pandemic heightened the strain on healthcare systems worldwide, prompting escalated research and development efforts to combat the virus. While research operations related to vaccines remained largely unaffected, niche markets experienced neglect due to the predominant focus on COVID-19 treatment-oriented research.

The beauty and personal care sector witnessed a decline owing to the pandemic; however, the impact was comparatively milder in contrast to other industries. The CBD skincare market encountered adverse effects stemming from reduced sales of personal care items and heightened consumer preferences for health, hygiene, and safety products. Consumers displayed a preference for products with extended shelf life and reduced susceptibility to contamination. Notably, closures of hypermarkets, supermarkets, and department stores resulted in significant losses, compelling companies to pivot towards strengthening their online presence.

Market Drivers:

The market's growth is propelled by the increased integration of hemp seed in food products.

Hemp seeds, sourced from the "Cannabis Sativa Plant," possess minimal levels of tetrahydrocannabinol (THC) and boast richness in essential fatty acids, vitamins (E, B1, B2, B6, D), calcium, magnesium, potassium, and other nutrients. Serving as among the few plant-based sources of complete protein, hemp seeds offer substantial value to a vegan diet. Their inclusion proves particularly advantageous, considering humans' inability to independently produce essential fatty acids.

Market Restraints:

The market's expansion faces hindrances due to the lack of manufacturing facilities and insufficient planting and harvesting equipment.

Despite the rapid strides witnessed in the hemp CBD industry post the legalization of industrial hemp in countries such as the U.S. and Germany, the absence of suitable planting and harvesting equipment poses a significant challenge. The delicate nature of hemp seeds necessitates the utilization of air seeders with low air volume during planting, which adversely impacts growth.

Global Hemp CBD Skin Care Market - By Type

• Hemp Seeds
• Hemp Fibers
• CBD Hemp Oils
• Hemp Seed Oils

Concerning the types, Hemp Fibers emerged as the leading revenue generator in 2022. Renowned for its durable and resilient attributes, Hemp Fibers find extensive applications in the textile and pulp & paper industries. Sourced from the Cannabis sativa plant, it serves as a sustainable material, witnessing widespread utilization across sectors such as construction, agriculture, animal bedding, furniture, and automotive. The anticipation of a surge in demand is bolstered by its role in biofuels and bioplastics. Within the Hemp CBD Industry, cellulose fiber derived from hemp contributes to a myriad of products ranging from clothing items like jeans, tops, and skirts, to essentials such as caps, bags, ropes, and canvas. Moreover, its applications extend to skincare products, building materials, paper, and a diverse array of food products. The CBD Hemp Oil segment is forecasted to demonstrate the highest Compound Annual Growth Rate (CAGR) of 12.9% during the forecast period of 2024-2028, attributed to its potential in alleviating concerns such as anxiety, depression, pain, and acne.

Global Hemp CBD Skin Care Market - By Region

• North America
• Europe
• Asia Pacific
• South America
• Middle East and Africa

From a geographical standpoint, North America is projected to experience the most rapid growth between 2024 and 2028. The increasing consumer awareness regarding the nutritional advantages of the Cannabis sativa plant, particularly hemp, is expected to propel the market for hemp-based food and personal care items within this region. Additionally, the progressive legalization of industrial hemp is poised to further drive market expansion in the Asia-Pacific region.

In 2022, the Asia Pacific Hemp CBD Skin Care Market accounted for 38% of the revenue share, largely attributed to the widespread cultivation and utilization of hemp fibers in the textile and paper industries. Furthermore, the market's growth is influenced by the demand for cosmetics and personal care products in the Asia Pacific region, coupled with the legalization of industrial hemp in dietary supplements. The increasing presence of hospital pharmacies and a rising incidence of conditions such as cancer, sclerosis, and diabetes are significant factors contributing to market growth in this region.

The industry is expected to witness lucrative growth due to the implementation of new governmental policies supporting the sector, combined with the lowest production costs of cannabidiol, substantial large-scale manufacturing infrastructure, and expertise. China, known as the largest hemp cultivator in Asia, contributes nearly half of the world's hemp supply. With exports to the United States, Germany, the United Kingdom, and Japan, the country has initiated hemp cultivation for cannabidiol extraction in three provinces, significantly boosting regional growth.

Global Hemp CBD Skin Care Market Share by Company

1. GenCanna
2. Marijuana Company of America Inc.
3. HempFlax BV
4. Ecofibre
5. Hempco
6. MH Medical Hemp
7. Plains Industrial Hemp Processing
8. Canah International
9. Konoplex Group
10. South Hemp Tecno

Companies within the industry have capitalized on mergers and acquisitions to diversify and enhance their service offerings.

Sephora, a renowned French multinational retailer specializing in personal care and beauty products, recently introduced a line of cannabis-derived beauty and skincare products. This includes hemp seed facial oils and CBD body lotions. Notably, all products are THC-free, with only one, the Lord Jones High CBD Formula Body Lotion, containing elevated levels of CBD.

Key market players are actively engaged in product innovation, research and development endeavors, as well as the launch and approval of new products to bolster their competitive positions. The introduction of novel patents and ongoing research activities are expected to play crucial roles in the success of manufacturers aiming to strengthen their foothold in the industry. Increased investment in research and development by leading manufacturers to advance cutting-edge technology products is emerging as a pivotal factor for sustaining competitiveness. The market is characterized by numerous players striving to boost demand for their products, resulting in a multitude of product launches.

Notable Developments in the Global Hemp CBD Skin Care Market:

Partnership - In March 2022, GenCanna Global Inc. and Specialty Oil Extractors, LLC forged a partnership aimed at catering to the needs of GenCanna's Accredited Farming Network. This partnership seeks to expand its presence throughout Kentucky, providing valuable opportunities for farmers across the state.