Subject: MRR
Technavio's CBD-Infused Cosmetics Market Research Report Highlights the Key Findings in the Area of Vendor Landscape, Key Market Segments, Regions, and Latest Trends and Drivers
NEW YORK, Jan. 19, 2022 /PRNewswire/ -- The latest CBD-infused cosmetics market research report by Technavio indicates that the growth in global personal products is driving this market's growth.
Resulting in market growth of USD 3.07 billion from 2020 to 2025, read additional information about the market. Get FREE sample report.
Vendor Landscape
The market structure is expected to remain fragmented during the forecast period. Vendors are deploying different organic and inorganic growth strategies to compete in the market.
Cronos Group Inc., Elixinol Global Ltd., Endoca BV, Green Light Acquisitions LLC, Isodiol International Inc., Khiron Life Sciences Corp., LOreal SA, The CBD Skincare Co., The Estee Lauder Companies Inc. and Unilever Group among others are some of the few key vendors competing to maintain their market position in the market.
Various players in the market are engaging in launching differentiated products to up their game in the cosmetic industry. Some vendors are redirecting their marketing efforts toward digital marketing mediums. Many vendors are offering shopping vouchers and discounts to attract customers. Moreover, many vendors in the market focus on the minimal use of packaging materials and prefer to use recycled raw materials for packaging.
View more about the market's vendor landscape highlights with a comprehensive list of vendors and their offerings.
Key Market Segmentation
- Segmentation by Product:
- Skincare:
- This segment includes oils, creams, moisturizers, cleansers, masks, serums, and lotions. A wide variety of CBD-infused skincare cosmetics are available in the market from multiple brands.
- The growth of this segment is mainly driven by the increased awareness of the importance of skincare among people globally. Moreover, consumers are willing to spend more on premium skincare products than before. Also, CBD-infused skincare cosmetics manufacturers are consistently focusing on product innovations and new product launches to expand their customer base. For example, in recent years, the market has witnessed an introduction of vegan CBD-infused skincare cosmetics.
- Makeup and haircare
- Fragrances
- Others
Request a FREE Sample of this report for more highlights into the market segments.
Regional Market Outlook
North America will contribute to 45% of the market growth during the forecast period. The US is the key market in the North America region. The main factors that contribute to the growth of the market in the US are the launch of innovative products, the growing use of online platforms to shop for CBD-infused cosmetics, and the rising awareness and growing adoption of organic cosmetic products. Moreover, organic CBD-infused cosmetics are free from chemicals and are considered good for the skin. Thus, the rise in the use of such products will drive value sales in the CBD-infused cosmetics market in North America.
Apart from the US in the region, if we look at the country-wise market growth, UK, China, Canada and Germany will contribute to the highest market growth.
Download our FREE sample report for more key highlights on the regional market share of most of the above-mentioned countries.
Latest Trends, Driving the Global CBD Infused Cosmetics Market
- Market Driver:
- Innovation and portfolio expansion leading to product premiumization:
The growing competition and customer demand for innovative products have compelled vendors to start focusing actively on bettering their R&D operations. In addition, vendors are focusing on differentiating themselves from their competitors. Consumers usually look for CBD-infused cosmetics that can address multiple skin-related issues in minimal time. Moreover, consumers also look for products that are effective and easy to use. Hence, customers have started using several cosmetic products, including CBD-infused cosmetic products. This is expected to augment the growth of the market during the forecast period.
- Market Trend:
- Increase in the introduction of organic CBD cosmetic products:
The rising awareness about hair, skin, and health problems caused by the use of synthetic cosmetic products has increased the demand for organic CBD-infused cosmetic products. The regular application of synthetic cosmetic products can lead to various hair, skin, and health-related issues, such as skin irritation, skin allergies, chemical burns, and various hormonal disorders. Therefore, in the last few years, manufacturers of CBD-infused cosmetics are focused more on organic cosmetic products to attract the attention of more consumers. These organic CBD-infused cosmetics are free from harmful ingredients, such as sulfate and formaldehyde. Thus, the initiative to extend product lines by vendors will further enhance the growth prospect of the market.
Find additional information about various other market drivers & trends mentioned in our FREE sample report.
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CBD-infused Cosmetics Market Scope | |
Report Coverage | Details |
Page number | 120 |
Base year | 2020 |
Forecast period | 2021-2025 |
Growth momentum & CAGR | Accelerate at a CAGR of 21.42% |
Market growth 2021-2025 | $ 3.07 billion |
Market structure | Fragmented |
YoY growth (%) | 20.74 |
Regional analysis | North America, Europe, APAC, South America, and MEA |
Performing market contribution | North America at 45% |
Key consumer countries | US, UK, China, Canada, and Germany |
Competitive landscape | Leading companies, Competitive strategies, Consumer engagement scope |
Key companies profiled | Cronos Group Inc., Elixinol Global Ltd., Endoca BV, Green Light Acquisitions LLC, Isodiol International Inc., Khiron Life Sciences Corp., LOreal SA, The CBD Skincare Co., The Estee Lauder Companies Inc., and Unilever Group |
Market dynamics | Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID-19 impact and recovery analysis and future consumer dynamics, Market condition analysis for the forecast period |
Customization purview | If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized. |
About Us
Technavio is a leading global technology research and advisory company. Their research and analysis focus on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions. With over 500 specialized analysts, Technavio's report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio's comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.
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