As per the latest MARKET RESEARCH CONDUCTED BY FMI , the global CBD oil market is expected to record a CAGR of 31% from 2022 to 2032. In 2022, the market size is projected to reach a valuation of US$ 371,8 million. By 2032, the valuation is anticipated to reach US$ 5 748,5 million. This means that the cumulative growth over 10 years would be 1 446,13%.
Increasing amounts of skincare products that treat acne and wrinkles contain cannabidiol oil. For instance, Sephora recently added a line of CBD-infused beauty products to its retail locations. Similar to this, Ulta Beauty plans to introduce a range of products based on cannabidiol. Also, a number of new businesses are entering the market for cosmetics containing cannabidiol. Owing to its therapeutic benefits, there is a significant expansion in the CBD oil capsules market for health and wellness applications, which is the main reason for driving the growth of the current market. The increased acceptability and use of products as a result of government approvals is another important factor anticipated to increase the manufacturing of CBD-infused goods.
This market is expected to expand both directly and indirectly as a result of the personal care and cosmetics industry’s growth and expansion. This is due to the fact that cannabidiol is useful for treating skin disorders, including eczema and psoriasis, as well as inflammation, discomfort, and redness brought on by ongoing outbreaks.