What is CBD Salve?
CBD Salve is a topical ointment applied to anyone’s skin for cosmetics and tackling skin issues. The product contains two primary ingredients: coconut oil and CBD, which provide various health benefits such as lessening inflammation, aiding sleep, decreasing stress and anxiety levels, etc.
CBD salve is a fantastic choice for those looking for many health benefits of CBD without the same psychoactive effects commonly found in cannabis products containing tetrahydrocannabinol (THC). Because of this, it can be mixed with distinct creams or topically to treat specific areas that need addressing right now.
The CBD molecule is absorbed through pores in the skin to provide these properties directly at the application site. Simply apply it topically all over your body or just your face for soothing relief!
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CBD Salve Market Size, Share & Trends Analysis Report
The global CBD salve market size was valued at $633.6 million in 2018, and it is projected to reach 13.4 billion by 2028. The CAGR for the CBD salve market is 21.2%.
- 33% of adult Americans have used CBD once or more
- 64% of Americans are familiar with CBD products.
- 16% of people aged 30-49 use CBD
- 20% of people aged 18-29 use CBD
- 8% are interested in CBD skin care products
The reason behind this trend and incremental revenue opportunity is its non-intoxicating compound extracted from hemp plants. CBD salve products have many properties that make them ideal for skincare and personal care products. The COVID 19 pandemic has affected many industries worldwide, where even the CBD industry is a part. That has led to the disruption in production and manufacturing processes due to the strict measures taken around the globe.
Hemp products contributed the largest share of revenues, valued at $1.7 billion, to the market in 2020 because of growing awareness about the health benefits of CBD-infused products derived from marijuana. According to the report, hemp-derived CBD is expected to be the fastest-growing segment in this market, while legal marijuana and medicinal cannabis lead globally.
North America is dominating the global CBD industry, and it is projected to increase even more due to favorable market conditions like regulations and an increase in the number of CBD users.
Furthermore, cannabidiol demand from various end-user industries such as food and beverage, personal care, cosmetics, and pharmaceuticals is expected to drive market growth. Hence, plenty of growth opportunities are emerging, and the need for cosmetic stores has increased the overall demand. Furthermore, with the increased legalization of hemp, CBD salve Market size is expected to propel growth.
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