CBD Skin Care Market Estimated to Grow at $3,484.00 million by 2026, Fueled by Strong CAGR of 24.80% – World News Report – Medical Marijuana Program Connection

CBD Skin Care industry analysis

The departmental stores distribution segment is anticipated to dominate the CBD skin care market analysis, with a CAGR of 23.5% during the forecast period

WILMINGTON, DELAWARE, UNITED STATES, May 8, 2024 /EINPresswire.com/ — The global CBD skin care market size was valued at $633.6 million in 2018 and is anticipated to reach $3,484.00 million by 2026, with a CAGR of 24.80% during the forecast period. The global CBD oil segment was valued at $219.0 million in 2018 and is anticipated to reach $1,134.0 million by 2026, with a CAGR of 24.00% during the forecast period.

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Legalization of cannabis and cannabis derivatives including cannabidiol (CBD) and hemp oil have increased the popularity of these ingredients among wellness and personal care products industry. Consumers are looking for CBD-infused products with natural active ingredients over other chemical based cosmetics. As a result, the cosmetics and personal care industries are expected to witness significant growth in cosmetic product infused with CBD and hemp oil. Some the leading cosmetic brands are already offering or experimenting in CBD based skin care products. Upscale retailers and some private label brands have already launched some products, which show the influence of CBD in mainstream…