CBD Infused Cosmetics 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 Infused Cosmetics Market
- Globally, the CBD infused cosmetics market is growing owing to the expansion of product portfolio and manufacturers targeting premium customers by launching premium products. Moreover, the growing adoption of organic CBD cosmetic products is projected to drive the demand for CBD infused cosmetics.
- Prominent manufacturers of CBD infused cosmetics are launching products for men, as a result of the rise in demand from this segment. Grooming as a regimen is not restricted to women anymore and thus manufacturers are catering to the increasing demand from the men’s segment.
Factors Restraining the Global CBD Infused Cosmetics Market
- CBD remains an illegal market in various countries and hence continues to face slow demand growth due to restricted regional availability. Furthermore, complex rules and regulatory strictures by governments relating to the usage of CBD is anticipated to hamper the CBD infused cosmetics market across the globe throughout the forecast years.
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Market in Asia Pacific to Expand Rapidly
- In terms of geography, the global CBD infused cosmetics 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 infused cosmetics 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 infused cosmetics market analysis and forecast of GCC countries, South Africa, and Rest of Middle East & Africa. The South America CBD infused cosmetics market is segmented into Brazil, and Rest of South America.
- Europe captured the largest share of the CBD infused cosmetics market due to awareness about personal care and preference for online shopping.
- The CBD infused cosmetics market in Asia Pacific is projected to expand rapidly 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 infused cosmetics market.
Key Players Operating in the Global Market
Companies in the CBD infused cosmetics 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.
For instance, in April 2020, Astral Brands-owned Pür launched seven CBD makeup products through its own DTC site and Ulta.com. The brand is bullish on the sub-category and plans to expand further over the next two years.
In September 2019, Smith & Cult, an ultra-exclusive makeup and nail brand in the U.S, launched a clear CBD lip balm.
A few of the key players operating in the global CBD infused cosmetics market are:
- Cannuka, LLC
- CBD For Life
- EarthlyBody (CBD Daily)
- Josie Maran Cosmetics
- Kapu Maku LLC. (Populum)
- LEEF Organics
- Lord Jones
- Sephora USA, Inc.
- The CBD Skincare Co
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Global CBD Infused Cosmetics Market: Research Scope
Global CBD Infused Cosmetics Market, by Product Type
- Color Cosmetics
- Base Makeup (Foundation, Concealer, Bronzer, etc.)
- Face (Blush, Highlighter, etc.)
- Lips (Lip Tint, Lipstick, etc.)
- Eyes (Eye Shadow, Liners, etc.)
- Nail (Nail Paint, Nail Care, etc.)
- Others (Body Art, Body Glitters, etc.)
- Skin Care
- Gels & Lotions
- Facial Masks
- Scrubs & Exfoliants
- Others (Wipes, etc.)
- Hair Care
- Hair Oil
- Others (Hair Color, etc.)
- Bath & Shower
- Others (Suntan Care, etc.)
Global CBD Infused Cosmetics Market, by Source
Global CBD Infused Cosmetics Market, by Category
Global CBD Infused Cosmetics Market, by Gender
Global CBD Infused Cosmetics Market, by Distribution Channel
- E-commerce Portal
- Company Owned Portal
- Supermarkets & Hypermarkets
- Specialty Stores
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.
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.
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?
Note: Although care has been taken to maintain the highest levels of accuracy in TMR’s reports, recent market/vendor-specific changes may take time to reflect in the analysis.