Global CBD Skin Care Market Size Anticipated To Reach $3.4 Billion By 2026, With A CAGR Of 24.80%
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Palm Beach, FL -December 21, 2021 – FinancialNewsMedia.com News Commentary – The rise in consumer knowledge toward CBD infused FMCG product and ready product availability is anticipated to increase the growth of the CBD skin care products market. The active initiative in terms of product distribution and marketing from new entrant, and positive support from regulatory authorities in terms of applications of CBD in personal care products are expected to fuel the CBD skin care market growth in near future. A report from Allied Market Research projected that the global CBD skin care market size, which was valued at $633.6 million in 2018, is anticipated to reach $3,484.00 Million by 2026, with a CAGR of 24.80% during the forecast period. The global CBD oil segment was valued at $219.0 million in 2018 and is anticipated to reach $1,134.0 Million by 2026, with a CAGR of 24.00% during the forecast period. The report said: "Legalization of cannabis and cannabis derivatives including cannabidiol (CBD) and hemp oil have increased the popularity of these ingredients among wellness and personal care products industry. Consumers are looking for CBD-infused products with natural active ingredients over other chemical based cosmetics. As a result, the cosmetics and personal care industries are expected to witness significant growth in cosmetic product infused with CBD and hemp oil. Some the leading cosmetic brands are already offering or experimenting in CBD based skin care products. Upscale retailers and some private label brands have already launched some products, which show the influence of CBD in mainstream cosmetic market. This trend is expected to gain traction among the global CBD skin care market players in few years." Active companies in the markets today include: Sentient Brands Holdings Inc. (OTCPK: SNBH), Curaleaf Holdings, Inc. (OTCQX: CURLF) (CSE: CURA), Tilray, Inc. (NASDAQ: TLRY) (TSX: TLRY), Canopy Growth Corporation (NASDAQ: CGC) (TSX: WEED), Cronos Group Inc. (NASDAQ: CRON) (TSX: CRON).
The report concluded with these key highlights: "The CBD skin care oils segment is expected to grow at a CAGR of 24.00% during the forecast period. North America is anticipated to dominate the CBD skin care market share, registering a CAGR of 24.3% during the forecast period. Asia-Pacific is projected to exhibit exponential growth throughout 2026, registering the highest of CAGR 26.7% during the forecast period. The departmental stores distribution segment is anticipated to dominate the global CBD skin care market analysis, with a CAGR of 23.5% during the forecast period. The E-commerce segment is estimated to grow at a CAGR of 27.4% during the forecast period."
Sentient Brands Holdings Inc. (OTCPK: SNBH) BREAKING NEWS: Sentient Brands Holdings Inc. Launches Social Media Marketing & Influencer Campaign for its Oeuvre Skincare Luxury Product Line - Sentient Brands Holdings Inc. ("Sentient Brands" and the "Company"), a next-level product and brand development company focused on creating beauty, wellness, and lifestyle consumer brands within the $6.5 billion luxury and prestige beauty market space, today announced its launch of a social media marketing and influencer campaign for Oeuvre Skincare ("Oeuvre"), the Company's high-performance line of luxury bioactive skincare products.
In December 2021, Sentient Brands launched its Oeuvre social media marketing and influencer campaign. Sentient Brands believes that Oeuvre's product design, formulations, and disruptive "Luxury Clean Beauty" branding strategy, make Oeuvre a standout in a marketplace crowded with undifferentiated CBD skincare products. The initial phase of the Company's Oeuvre social media marketing campaign is heavily focused on the utilization of influencers and paid advertising on Instagram, Facebook and Pinterest. In January 2022, the Company plans to introduce videos demonstrating Oeuvre product and survey results through the Company's website and in paid ads. Sentient Brands has also developed customer-focused and data-driven digital architecture which will allow the Company to closely monitor its Oeuvre product launch strategies, and continually refine the most successful influencer campaigns and channels. Sentient Brands believes it possesses the in-depth experience and in-house expertise, as well as a broad array of powerful digital tools, which will enable the Company to connect with Oeuvre's target customers in meaningful ways.
Sentient Brands tracks Oeuvre's social media marketing click-throughs, impressions, engagements, and sales, on those platforms that the Company believes Oeuvre's target customers will engage with most: www.oeuvreskincare.com, Instagram, Facebook, and Pinterest.
George Furlan, CEO & COO of Sentient Brands, stated, "The comprehensive and carefully curated influencer strategy that our team has developed will help expand brand awareness, reach key audiences, grow DTC traffic, and ultimately drive sales conversion. Our philosophy is to develop authentic partnerships with creators who have powerful, important, and influential voices, on both a macro and micro scale.”
James Mansour, CMO of Sentient Brands, stated, “We are consumer-obsessed brand differentiators who know how to convert compelling stories into digital sales. We look for tangible and measurable results from our influencer marketing – and these expectations drive our Oeuvre Skincare social media strategy. We believe that in order to have a meaningful impact, Oeuvre’s social branding, products, and experiences must contribute to cultural conversations that our target customers actually care about. We do not believe that celebrity size or follow-count necessarily equates to influence on social media or product sales. We know that a brand is not something you buy – it is something you buy into." CONTINUED... Read the Sentient Brands Holdings full press release by going to: https://www.sentientbrands.com/press-releases
In other news and developments of note in the markets this week:
Curaleaf Holdings, Inc. (OTCQX: CURLF) (CSE: CURA), a leading international provider of consumer products in cannabis, recently announced the opening of Curaleaf Spring Hill, the Company’s 113th dispensary nationwide and its 38th in the sunshine state.
The new Spring Hill location at 4287 Mariner Blvd. is the Company’s fifth dispensary to open in Florida in 2021. Curaleaf expanded its presence in Jacksonville, St. Petersburg, West Palm and Bradenton earlier this year. Curaleaf has expanded its team in Florida by adding over 1,000 new retail and cultivation jobs throughout the state in 2021.
Aurora Cannabis Inc., the Canadian company defining the future of cannabinoids worldwide, together with 22nd Century Group, Inc. announced recently a three-way non-exclusive agreement to license biosynthesis intellectual property to Cronos Group Inc. (NASDAQ: CRON) (TSX: CRON) (“Cronos Group”), intended to assist in the advancement of research and development on the biosynthesis of cannabinoids.
Biosynthesis, a process common in the pharmaceutical industry, involves using living micro-organisms to convert simple substances into complex compounds. Through biosynthesis, cannabinoids, particularly those that are rare such as cannabigerol (CBG), cannabichromene (CBC) and cannabinol (CBN), are expected to be produced efficiently and reliably at high levels of purity.
Tilray, Inc. (NASDAQ: TLRY) (TSX: TLRY), a leading global cannabis-lifestyle and consumer packaged goods company inspiring and empowering the worldwide community to live their very best life, recently announced the strategic acquisition of Breckenridge Distillery, a leading distilled spirits platform located in Breckenridge, Colorado widely-known for its award-winning bourbon whiskey collection and innovative craft spirits portfolio. Tilray expects the acquisition to be immediately accretive to EBITDA.
Irwin D. Simon, Chairman and CEO, said, “Tilray's strength lies in our ability to identify and significantly expand leading CPG lifestyle brands that resonate powerfully with consumers. Breckenridge Distillery is an iconic addition to our platform in this respect based on its portfolio of award-winning spirits, passionate consumer engagement, and a strong sales and distribution network. We see tremendous potential for Breckenridge and our existing SweetWater brand to complement each other, expanding their respective reach and driving further profitable growth in our beverage alcohol segment."
Canopy Growth Corporation (NASDAQ: CGC) (TSX: WEED) has recently entered into an agreement to divest its subsidiary business, C(3) Cannabinoid Compound Company GmbH (“C3”), to Dermapharm Holding SE, a European pharmaceutical company headquartered in Grunwald, Germany. The C(3) business develops and manufactures pharmaceutical products and is comprised of Spectrum Therapeutics GmbH, based in Neumarkt-in-der-Oberpfalz, Germany, THC Pharm GmbH The Health Concept, based in Frankfurt, Germany, and Spectrum Therapeutics Austria GmbH, based in Vienna, Austria.
With the divesture of C(3), Canopy Growth is continuing its evolution into a CPG-modelled organization and furthering its strategy of driving focus and consistent business across its core markets. The Company will continue to leverage its high-quality supply of Canadian cannabis products for the medical channel in its core international markets, including Germany, while also serving adult-use consumers in Canada.
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