Trend for CBD skincare products predicted to rise

The global CBD skincare market is expected to reach $1.7bn (£1.36bn) by 2025, expanding at a compound annual growth rate (CAGR) of 32.9% over the forecast period, according to a new report by Grand View Research. 

The healing properties of CBD ingredients are expected to encourage manufacturers to develop products infused with these ingredients, thereby driving the market in the coming years. 

North America led the market, accounting for a share of more than 40.0% in 2018, owing to high demand and legalisation of cannabis in the US and Canada. Hemp-based products generated a revenue of $147m (£117.78m) in 2018. 

CBD is said to help the skin’s natural healing process, lowering the life span of breakouts and eczema flare-ups. It also showcases potential antioxidant properties that can help in counteracting signs of ageing, the report claims. 

CBD-based skincare oils led the market and accounted for a share of 40.9% in 2018. This product type is said to be beneficial for skin conditions due to its anti-inflammatory properties.