Introduction
Cannabidiol is everywhere: CBD-infused products: food items, lotions to rub on aching joints; oils to swallow; vaginal suppositories for soothing, bath salts and so on.
CBD products have been made legal in most of the U.S states and they are easily available for use.
In 2018 Brightfield estimated that the total CBD market sat at around $591 million and is set to grow 40 times to $22 billion by 2022.
This makes CBD one of the fastest growing industries on the planet – with Baby Boomers being the primary consumers. Reuters estimates that the US dominates with 78% of the global CBD market, while studies show that 7% of the US population reports using CBD frequently.
Bath salts are water-soluble, pulverized minerals that are added to water to be used for bathing. They are said to improve cleaning, enhance the enjoyment of bathing, and serve as a vehicle for cosmetic agents. Bath salts have been developed which mimic the properties of natural mineral baths or hot springs.
Table of Contents
Market Overview
The value of the CBD bath salt market was $472.9 million in 2020 and is set to grow to $481.3 million by 2026.
Cannabidiol is one of the main cannabinoids extracted from hemp or from marijuana, which is primarily found in the Cannabis Sativa plant.
The personal care industry is witnessing a shift toward CBD-infused skincare products.
Key Trends
CBD oil possesses unique anti-inflammatory and anti-acne properties, which are quite popular among cosmetic manufacturer
CBD is also making way across makeup and cosmetic product including face creams, lip balms, mascara, and body lotion through its unique attributes of anti-inflammation
Presence of multi-functional benefits in CBD infused skin product is expected to fuel the revenue growth of the overall
Legalization of cannabis cultivation among the U.S. and Canada
Key Market Players
Some of the leading players in the CBD Bath salts market are Lord Jones, Vertly, Lanikai, Daughter of the Land, CBD Pharm, Rising Moon Botanicals etc. The market players are investing in promotional activities, expansion of sales outlets, listing their product on online third-party websites and are entering into strategic partnerships with prominent retailers to cater to growing demand from consumers.
Growth Drivers and Challenges
There has been a rise in the requirement for bath salts owing to its resourcefulness in industrial use spanning from home care to personal care applications.
The increasing want and trend for glowing and young skin among the people are fueling the growth of the worldwide bath salts market.
Bath salts are of a lower price in comparison to other processes, comprising spa treatment, which is contributing positively to the growth of the global bath salt market.
CBD bath salts give a sense of relaxation, which consumers want in their stressful lives. Sinking into a CBD bath can simultaneously help relieve pain, tension, and stress, resulting in an ultra-relaxing soak.
Despite the opportunities, there are some challenges that remain. The presence of stringent regulations and the high cost of CBD products are some of the major factors restraining the growth of the market for cannabidiol. Moreover, the absence of legalization programs in several Asian and African countries is another key factor impeding the growth of the CBD market.