According to a report from Million Insights, the global CBD skincare market is expected to reach $1.7 billion by 2025, registering a 32.9% CAGR over the forecast period, from 2019 to 2025. The report says that the increasing awareness related to the healing properties of CBD infused beauty products is majorly driving the market growth.
 
“The CBD infused beauty products can be used for all types of skin, as it is very effective and safe. The people who are facing acne, dryness, inflammation, and sensitivity problems will greatly benefit from these products as CBD based beauty products help to heal the breakouts and eczema flare-ups,” the Million Insights report continued. “EU cosmetic ingredient database projected that hemp-infused oil can be used as a surfactant cleanser, emollient, and skin conditioning agent. Hemp molecules are easy to absorb in the skin and give healthy results, thereby, expected to drive the CBD skin care market growth during the forecast period.”
 
Another report from Allied Market Research upped the projection saying that the global CBD skin care market size was valued at $633.6 million in 2018 and is anticipated to reach $3.48 billion by 2026, with a CAGR of 24.80% during the forecast period. 
 
Active companies in the Cannabis market include CanaFarma Hemp Products Corp., iAnthus Capital Holdings Inc., Aphria Inc., Canopy Growth Corporation and Fire & Flower Inc.