Convenience store retailers wondering whether CBD is good for their customers’ skin can rest easy because the answer, according to research, is a resounding yes. The popularity of CBD-based skin-care products has grown mightily during the last few years due to their excellent medicinal properties. In Fact, CBD oil is widely used today to nourish and moisturize the skin.
The demand for CBD oils for skin care is significantly increasing because of numerous benefits, such as reduced inflammation, irritation and decreased puffiness and redness. It contains several essential nutrients that help to keep skin safe from peeling, dry patches, cuts and cracks.
The growing awareness among consumers about the potentially harmful effects of chemical-based products has also helped to fuel demand for natural and organic skin care products like CBD oil.
Indeed, the global CBD skin-care market size is expected to reach $8.62 billion by 2030, registering a compound annual growth rate (CAGR) of 31.5%, according to a recent report by San Francisco, Calif.-based Grand View Research, Inc. (GVR). The oils segment accounted for the largest share in 2022 and is expected to maintain its dominance throughout the forecast period.
North America was home to the largest revenue share in 2022, the firm reported, owing it to the easy production and trade of cannabis in the region. “The Masks & Serums segment is projected to register the fastest growth rate during the forecast period owing to their easy application and fast results.”
Researchers are projecting that hemp-based CBD products should retain their lead market share position over the forecast period because of their growing popularity among skin-conscious consumers.
“CBD skin-care products are gaining immense popularity among consumers owing it to their exceptional anti-inflammatory and rich antioxidant properties,” GVR researchers said in a release. In addition, “CBD-infused skin-care products help in the proper functioning of the endocannabinoid system, which is responsible for balancing various crucial functions of the skin including oil production and melanocyte production. These factors are expected to bode well with the growth of the industry.”