The CBD Skincare Market Could be Worth $959 Million by 2024, According to New Report – Yahoo Finance

Prohibition Partners has found in its latest report, The Impact Series: Disrupting Beauty, released today.” data-reactid=”11″>LONDON, Jan. 23, 2020 /PRNewswire/ — The CBD skincare market is projected to bring in US$959 million in sales by 2024, leading cannabis market intelligence and strategic consultancy firm Prohibition Partners has found in its latest report, The Impact Series: Disrupting Beauty, released today.

The report explains that cannabis, with its antioxidant and anti-inflammatory effects, is disrupting the traditional beauty market and supply chain as consumer demand skyrockets for innovative natural cosmetics products.

Key findings include:

  • Smaller indie brands have driven recent developments in the CBD beauty market, as multinational companies remain wary of CBD’s complicated legal status. 
  • The global CBD skincare market is projected to rise to US$959 million by 2024.
  • Select brands are exploiting the interest surrounding cannabis-derived CBD oils to sell beauty products containing low-CBD hemp seed oil, in a practice known as „weed washing”. 
  •  Continued consumer education will be vital to ensuring the longevity of the CBD beauty market.

Stephen Murphy, said:

Disrupting Beauty is the first edition of a new set of reports, entitled 'The Impact Series’, documenting the rise of cannabis consumer goods and the disruption of mainstream markets. Disrupting Beauty launches on 23rd January 2020 and can be downloaded via the Prohibition Partners reports homepage, here, alongside a full suite of other industry reports.” data-reactid=”24″>Disrupting Beauty is the first edition of a new set of reports, entitled 'The Impact Series’, documenting the rise of cannabis consumer goods and the disruption of mainstream markets. Disrupting Beauty launches on 23rd January 2020 and can be downloaded via the Prohibition Partners reports homepage, here, alongside a full suite of other industry reports.

Prohibition Partners is widely recognised as the world’s leading provider of market intelligence, data-driven solutions and corporate strategy for the emerging cannabis industry. Our knowledge, insight and network is unrivalled at the forefront of regulatory change and investor engagement across multiple global markets.

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eoin.keenan@prohibitionpartners.com
+44 203 928 2814″ data-reactid=”28″>Contact:
Head of Content
Eoin Keenan 
eoin.keenan@prohibitionpartners.com
+44 203 928 2814

 

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