The E-commerce segment is estimated to grow at a CAGR of 27.4% during the forecast period.
PORTLAND, OREGON, UNITED STATES, August 11, 2023/EINPresswire.com/ — According to a new report published by Allied Market Research titled, “CBD Skin Care Market by Product Type, and Distribution Channel: Global Opportunity Analysis and Industry Forecast, 2019–2026,” 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…
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