Global CBD-infused Cosmetics Market Evolving Opportunities with Cannuka LLC and
Posted by sarahbennu on March 19th, 2020
The CBD-infused cosmetics market is poised to grow by USD 3.09 billion during 2020-2024, progressing at a CAGR of over 31% during the forecast period.
The market is driven by product portfolio expansion leading to product premiumization. Also, the increase in the introduction of organic CBD cosmetic products is anticipated to boost the growth of the CBD-infused cosmetics market.
Vendors are focusing on differentiating themselves from their competitors and actively investing in R&D operations and using innovative ingredients and technologies to meet the growing demand for innovative cosmetic products from customers. They are expanding their product lines by introducing products such as CBD-infused cosmetics that can address multiple skin-related issues in minimal time. The growing consumption of CBD-infused cosmetics products is encouraging vendors to offer these products at premium prices. For instance, one of the major players operating in the market, Milk Makeup LLC, offers Kush Mascara, which is infused with cannabis oil. This product is popular among customers as it helps in thickening the eyelashes with the help of heart-shaped fibers. Thus, product portfolio expansion leading to product premiumization is expected to drive market growth during the forecast period.
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Major Five CBD-Infused Cosmetics Market Companies:
Cannuka LLC is headquartered in the US and offers skincare products infused with CBD, such as body lotion, cream, balm, and body bar. The company provides CBD Calming Eye Balm and CBD Hydrating Lip Balm.
Cronos Group Inc.
Cronos Group Inc. is headquartered in Canada and produces and sells cannabis through its wholly-owned subsidiaries, OGBC and Peace Naturals. The company offers Lord Jones High CBD Formula Body Lotion and Lord Jones Royal Oil.
Elixinol Global Ltd.
Elixinol Global Ltd. is headquartered in Australia and operates under various business segments, namely Elixinol USA and Hemp Foods Australia. The company offers products such as CBD Lip Balm and CBD Cream.
Endoca BV is headquartered in the Netherlands and offers CBD oil, CBD capsules, CBD creams, skincare products, and pet products. The company provides CBD INFUSED CREAM WITH 300MG-1500MG CBD and BALM WITH 20MG CBD.
Isodiol International Inc.
Isodiol International Inc. is headquartered in Canada and offers beverages, candies, capsules, coffee, oral spray, tinctures, topicals, and kits and bundles using CBD. The company provides RapidCBD Body Balm and Restoring Eye & Lip Gel.
CBD-Infused Cosmetics Market Product Outlook (Revenue, USD Billion, 2020-2024)
CBD-Infused Cosmetics Market Geographic segmentation Outlook (Revenue, USD Billion, 2020-2024)
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About the Authorsarahbennu
Joined: July 1st, 2019
Articles Posted: 259
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