Reliable figures on the South African CBD market are generally hard to come by with the latest figures from Research and Markets putting the whole CBD market value in 2021 at about R87,7 million. Horizon Grandview Research valued the skincare segment of the CBD market in 2021 at a rather grand US$9,2 million (R138 million). 

Both are probably overstated, but in any event skincare is a sizeable chunk of the SA CBD market and is likely to grow by at least 20% per annum in line with global trends.

Johnny Green reported on 16 October 2024 on 420 Intel the following:

According to a recent market analysis by Allied Market Research, the global CBD  skincare market is projected to reach $8.9 billion in value by 2033, a CAGR of 19.5%. The same market analysis estimates that the CBD skincare market was valued at $1.5 billion in 2023.

“Continuous innovation and new product launches by major skincare brands are attracting consumers and expanding the market. The influence of social media and celebrity endorsements is further enhancing market growth.” the researchers stated.

“Moreover, the increased availability of CBD skincare products through various retail channels, including online stores, specialty beauty shops, and health stores, is facilitating market expansion.” the researchers also stated.

A separate recent market analysis by SNS Insider also projects that the CBD skincare market will experience tremendous growth in the near future. According to SNS Insider, the CBD skincare market will be worth a projected $22.19 billion by 2032, a CAGR of 28.7%.

“Industry reports suggest that CBD skincare products are going to move upward, as growing awareness regarding the anti-inflammatory and antioxidant effects of CBD is entering as one of the largest most sought-after ingredients in modern skincare routines.” SNS Insider stated about the CBD skincare market. The market researchers also determined the following:

• In 2023, the oils segment accounted for over 38.8 % of the total market share in the CBD skincare market

• The segment of department stores had the highest share, above 29.0% in 2023

• Hemp-based products topped the market with over 63.5% share in the year 2023

• North America was established as a market leader in the CBD skincare product market in 2023

Additionally, according to a recent analysis by Research and Markets, the CBD nutraceuticals market will be worth an estimated $29.1 billion by 2030. The market analysis estimates that the CBD nutraceuticals market will be worth $9.7 billion in 2024.

This background info on the global CBD skincare marketfrom Grandview Research 

The rapid growth is driven by increasing consumer awareness of the therapeutic benefits of CBD in treating skin conditions such as acne, inflammation, and aging.  In addition, the rising demand for natural and organic products, along with the ongoing legalization of CBD across various regions, is further fuelling market expansion. Innovations in product formulations and growing acceptance in the wellness and beauty sectors also contribute to the market's upward trajectory.

Consumer preferences are significantly driving the market growth as more individuals seek natural and organic solutions for their skin care needs.

As consumers become increasingly aware of the benefits of CBD, including its anti-inflammatory and antioxidant properties, they are opting for products that promote holistic wellness and overall skin health. For instance, brands like Lord Jones and Herbivore Botanicals are tapping into this trend by offering premium CBD-infused formulations that cater to health-conscious consumers.

The growing preference for clean beauty products that are free from synthetic ingredients and harmful chemicals has also led to a surge in demand for CBD skincare, with consumers actively seeking vegan, cruelty-free, and sustainable options.

The market for CBD skin care is poised for substantial growth and presents numerous opportunities for brands looking to innovate and expand their offerings.

With a projected CAGR of 21.2% in the forecast period in the U.S. alone, the market is at a high growth stage for new entrants and product development.

For example, the launch of specialized CBD products targeting specific skin concerns, such as acne or aging, is gaining traction, with companies like Kimirica introducing tailored formulations that appeal to diverse consumer needs.

In addition, the integration of CBD into luxury skincare lines, such as Estée Lauder’s recent introduction of CBD-infused products, reflects the increasing acceptance of CBD in mainstream beauty.

As e-commerce continues to thrive, brands have the opportunity to reach a broader audience through online platforms, utilizing social media marketing and influencer partnerships to drive awareness and engagement.

Product Insights from the US

The creams, moisturizer, and lotions segment led the market with the largest revenue share of 38.61% in 2024.This significant market share is attributed to the growing popularity of topical applications for targeted relief and skin benefits such as hydration, anti-inflammatory properties, and anti-aging effects.

Consumers are increasingly seeking CBD-infused products for everyday skin care routines, particularly for their ability to soothe and nourish sensitive or irritated skin. In addition, the wide availability of these products across retail and online platforms has boosted their accessibility and demand.

The serum segment is projected to grow at the fastest CAGR of 22.7% from 2025 to 2030, driven byrising consumer demand for potent, concentrated skin care solutions that target specific concerns such as wrinkles, fine lines, and hyperpigmentation.

The increasing adoption of CBD serums is also linked to their enhanced absorption properties, allowing for deeper skin penetration and more effective delivery of CBD's anti-inflammatory and antioxidant benefits. In addition, the growing trend towards personalized and high-performance skin care, along with expanding product innovation in CBD formulations, is further boosting the demand for CBD-infused serums.

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