Dublin, Jan. 04, 2021 (GLOBE NEWSWIRE) -- The "Asia-Pacific CBD Skin Care Market 2019-2028" report has been added to ResearchAndMarkets.com's offering.
The market for CBD skin care in the Asia-Pacific is forecast to witness a compound annual growth rate of 21.77% over the forecast period 2019-2028. India, China, Japan, Australia & New Zealand, South Korea, ASEAN countries, and Rest of APAC countries together shape the market in this region.
The consumption of marijuana is considered illegal in India. However, in 2018, in a first, Uttarakhand allowed the commercial cultivation of hemp crop. Bombay Hemp Company (BOHECO) was the first company to be allowed to manufacture cannabidiol products in the country. It makes medicinal products for consumption and cosmetic purposes.
Following suit, Flowerkist Incorporated, in December 2019, partnered with Dabur Research Foundation for developing a varied range of 100% hemp-based CBD infused topical products. Thus, a high demand for CBD is being witnessed in India, which will prove beneficial for the growth of its CBD skin care market over the forthcoming years.
Currently, CBD oil falls under the list of Schedule 4 drugs in Australia. Therefore, it can only be prescribed by doctors to patients diagnosed with certain conditions, and is not yet available in beauty and cosmetic stores. However, hemp oil is legally available.
Further, there is a growing demand for the inclusion of unique natural ingredients in skincare products in the country. In response to this, Bod Australia, in February 2019, introduced its new Manuka honey & hempseed oil skincare range. The increased demand for CBD products in Australia will put the nation's CBD skin care market on a growth trajectory in the years to come.
The companies competing in this market include Khiron Life Sciences Corp, Elixinol Limited, The CBD Skincare Company, Endoca BV, Kapu Maku LLC (Populum), Fab CBD, and Cannuka LLC.
Key Topics Covered:
1. Asia-Pacific CBD Skin Care Market - Summary
2. Industry Outlook
2.1. Market Definition
2.2. Key Insights
2.2.1. Shift Toward CBD-Infused Skincare Products
2.2.2. Demand for Organic Personal Care Products
2.2.3. Online Sales of CBD Skincare Products
2.3. Impact of COVID-19 on CBD Skin Care Industry
2.4. Porter's Five Forces Analysis
2.5. Market Attractiveness Index
2.6. Industry Components
2.7. Market Drivers
2.7.1. Holistic Benefits of CBD-Infused Skincare Products
2.7.2. Growing Usage of Cannabis for Medical and Recreational Purposes
2.8. Market Restraints
2.8.1. Risk of Bacterial Contamination
2.9. Market Opportunities
2.9.1. Increasing Health Awareness
2.9.2. Personalized Skin Care Products
2.10. Market Challenges
2.10.1. Constant Pressure from Regulatory Bodies
3. Asia-Pacific CBD Skin Care Market Outlook - by Source
4. Asia-Pacific CBD Skin Care Market Outlook - by Application
4.2. Lotion & Creams
4.3. Masks & Serums
4.4. Bath & Soaps
4.5. Other Applications
5. Asia-Pacific CBD Skin Care Market Outlook - by Distribution Channels
5.2. Retail Pharmacies
5.3. Departmental Stores
5.5. Other Distribution Channels
6. Asia-Pacific CBD Skin Care Market - Regional Outlook
6.4. South Korea
6.5. Asean Countries
6.6. Australia & New Zealand
6.7. Rest of Asia-Pacific
7. Competitive Landscape
7.1. Cannuka LLC
7.2. Cronos Group Inc
7.3. Elixinol Limited
7.4. Endoca Bv
7.5. Fab CBD
7.6. Isodiol International Inc
7.7. Joy Organics
7.8. Kapu Maku LLC (Populum)
7.9. Khiron Life Sciences Corp
7.10. Kiehl's LLC (Acquired by L'oreal)
7.11. Leef Organics Ltd
7.12. Medical Marijuana Inc
7.13. The CBD Skincare Company
8. Research Methodology & Scope
For more information about this report visit https://www.researchandmarkets.com/r/6qjttr
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