CBD-infused Cosmetics Market 2020-2024 | Product Portfolio Expansion Leading to Product Premiumization to Boost Growth

The CBD-infused cosmetics market and it is poised to grow by USD 3.09 bn during 2020-2024, progressing at a CAGR of about 31% during the forecast period. The report offers an up-to-date analysis regarding the current market scenario, latest trends and drivers, and the overall market environment.

 

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The market is fragmented, and the degree of fragmentation will accelerate during the forecast period. Khiron Life Sciences Corp., L’Oréal SA, The CBD Skincare Co., The Estée Lauder Companies Inc. and Unilever Group are some of the major market participants. Although the product portfolio expansion leading to product premiumization will offer immense growth opportunities, availability of counterfeit products will challenge the growth of the market participants. To make the most of the opportunities, market vendors should focus more on the growth prospects in the fast-growing segments, while maintaining their positions in the slow-growing segments.

Product portfolio expansion leading to product premiumization has been instrumental in driving the growth of the market. However, availability of counterfeit products might hamper market growth.

CBD-infused cosmetics market 2020-2024: Segmentation

CBD-infused cosmetics market is segmented as below:

Product

·         Skincare

·         Make-up and Haircare

·         Fragrances

·         Others

Geographic Segmentation

·         APAC

·         Europe

·         MEA

·         North America

·         South America

CBD-infused cosmetics market 2020-2024: Scope

Technavio presents a detailed picture of the market by the way of study, synthesis, and summation of data from multiple sources. Our CBD-infused cosmetics market report covers the following areas:

·         CBD-infused cosmetics market size

·         CBD-infused cosmetics market trends

·         CBD-infused cosmetics market industry analysis

This study identifies increase in introduction of organic CBD cosmetic products as one of the prime reasons driving the CBD-infused cosmetics market growth during the next few years.

CBD-infused cosmetics market 2020-2024: Vendor Analysis

We provide a detailed analysis of around 25 vendors operating in the CBD-infused cosmetics market, including some of the vendors such as Khiron Life Sciences Corp., L’Oréal SA, The CBD Skincare Co., The Estée Lauder Companies Inc. and Unilever Group. Backed with competitive intelligence and benchmarking, our research reports on the CBD-infused cosmetics market are designed to provide entry support, customer profile and M&As as well as go-to-market strategy support.