Global CBD Based Skin Care Market Could Exceed $3.45 Billion By 2026

16 minutes ago by PR Newswire
 

The personal care industry has witnessed a shift in consumer demand toward CBD infused skin & healthcare products over the past years and is expected to continue to grow for years to come.

The sale of American-produced CBD personal care products has been increased double fold owing to acceptance of multi-channel distribution by wholesales, private labelers, and other importers.

These stakeholders are developing a separate product lines of CBD infused personal care products.

This product lines include, among others, skin care, hand care, and lip moisturizer products. Companies are primarily marketing their products for health benefits associated with CBD in skin care products.

The innovative positioning of CBD infused skin care products coupled with effective distribution strategies are expected to boost the CBD skin care market growth well into the next decade.

A report from Allied Market Research projected that 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.

Active companies in the markets this week include:
CAN B CORP. (OTCQB: CANB),
MediPharm Labs Corp.  (TSX: LABS),
Organigram Holdings Inc.  (TSX: OGI),
Tilray Inc. (NASDAQ: TLRY),
CV Sciences, Inc. (OTCQB: CVSI).