Zion Market Research has published a new report titled “Cannabis Infused Beauty Products Market By Product (Skin Care, Hair Care, Fragrances, Personal Care, and Others), By Form (Oil, Cream, Lotion, and Others), By Application (Lips, Hair, Face, and Others), and By Distribution Channel (Online and Offline): Global Industry Perspective, Comprehensive Analysis, and Forecast, 2018–2026”. According to the report, the global cannabis infused beauty products market accounted for USD 5.09 billion in 2018 and is expected to reach around USD 18.05 billion by 2026, growing at a CAGR of around 17.2 % between 2019 and 2026.
The cannabis infused beauty products market is expected to witness major growth over the forecast time period, owing to the rising awareness of consumers regarding the health benefits of using these products. The chemicals used in common beauty products do not suit every skin type and many people face several side-effects. Cannabis infused beauty products, on the other hand, are skin-friendly in nature. This is mainly due to the similarity between cannabis oil and natural oil that is produced by the human skin. Hence, the cannabis oil makes up for an effective moisturizer and is perfect for treating dehydrated and dry skin. The human skin has native receptors for cannabinoids, which allows the extracts to be fully absorbed by the skin that makes its usage more effective.
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In this era of technological advancements, e-commerce websites have a major role in the easy availability of all variety of products. Cannabis infused beauty products related to skincare, haircare, and oral care are now readily available, but are mostly being sold online on e-commerce websites. The easy availability of these beauty products on e-commerce websites is the major factor driving the cannabis infused beauty products market. Market leaders like Sephora, Ulta Beauty, and Estee Lauder have recognized the potential of cannabis infused beauty products market and have started promoting these products on various channels.
High Beauty in Oscars 2019 gave away cannabis-infused beauty products to the nominees to promote their latest product line. Milk, a vegan and animal-cruelty free cosmetics company, has 100% recyclable containers. These positive initiatives by the market leaders will certainly attract potential customers toward the emerging cannabis infused beauty products market. However, the major restraint for the cannabis infused beauty products market is the stringent government regulations. The cultivation of cannabis plant is prohibited in most countries globally due to varied reasons, as it is essentially a drug. But, the scientific research conducted in the last few years’ has proven the medicinal benefits of cannabis, and therefore, many countries, such as Canada and the U.S., have legalized the use of this plant.
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The cannabis infused beauty products market is fragmented based on product, form, application, and distribution channel. The product segment is divided into personal care, skin care, fragrances, hair care, and others. The form segment includes cream, oil, lotion, and others. The application segment is divided into hair, face, lips, and others. The distribution channel segment is divided into online and offline.
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North America and Europe are the largest regions for cannabis infused beauty products market, owing to the legalization of the cannabis plant for recreational purposes. The Asia Pacific region is likely to be the fastest-growing cannabis infused beauty products market in the future.
Some key players operating in the cannabis infused beauty products market are Sephora, Ulta Beauty, Estee Lauder, e.l.f Beauty, High Beauty, Herb Essentials, Milk, Papa & Barkley, Whoopi & Maya, Nature Plus, and Talyoni Labs.
This report segments the global cannabis infused beauty products market into:
Global Cannabis Infused Beauty Products Market: Product Analysis
- Skin Care
- Hair Care
- Personal Care
Global Cannabis Infused Beauty Products Market: Form Analysis
Global Cannabis Infused Beauty Products Market: Application Analysis
Global Cannabis Infused Beauty Products Market: Distribution Channel Analysis