Global Hemp Oil By Product Type (CBD Oil, Hemp Essential Oil and Hemp Seed Oil), Application (Personal Care Products, Pharmaceuticals and Nutraceuticals, Food and Beverages, Industrial Uses and Others), Country (U.S., Canada, Mexico, Germany, Sweden, Poland, Denmark, Italy, U.K., France, Spain, Netherlands, Belgium, Switzerland, Turkey, Russia, Rest of Europe, Japan, China, India, South Korea, New Zealand, Vietnam, Australia, Singapore, Malaysia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific, Brazil, Argentina, Rest of South America, UAE, Saudi Arabia, Oman, Qatar, Kuwait, South Africa, Rest of Middle East and Africa) Industry Trends and Forecast to 2028.
Data Bridge Market Research analyses that the global hemp oil market will project a CAGR of 35.80% for the forecast period of 2021-2028. Increasing personal disposable income, rising awareness about the medical benefits of hemp oil and rise in the demand and application of hemp oil for a wide range of applications such as personal care products, pharmaceuticals and nutraceuticals, food and beverages, industrial uses and others are the major factors attributable to the growth of hemp oil market.
Also known as hemp seed oil, hemp oil is extracted from hemp seeds. Hemp oil is dark to clear light green in colour with a nutty flavour. Hemp oil is widely gaining popularity owing to its healing properties. Hemp oil is rich in required omega-3 fatty acids, terpenes, vitamins, chlorophyll, amino acids antioxidants and nutraceuticals. Hemp oil is also high in phytocannabinoids such as cannabichromene (CBD), cannabigerol (CBG), cannabinol (CBN) and cannabidivarian (CBCV). Another major application of hemp oil is that it is used for massage applications as well. A specialized extraction process is used to extract hemp oil from hemp seeds or cannabis plant. Moreover, pure hemp oil can be consumed directly as a nutritional supplement. Growing popularity of hemp oil has led to rising product innovations such as CBD hemp oil products, capsules, drops, and even chewing gum.
Rising personal disposable income and popularity of hemp oil especially in the developing regions are the major factors fostering the growth of the market. Growing use of hemp oil in skin care products and increasing awareness about the medical benefits of hemp oil such as relieving chronic pain, nerve pain, anxiety and sleep disorders are other important factors acting as hemp oil market growth determinant. Increasing adoption of hemp oil in nutraceutical and pharmaceutical applications will further create lucrative growth opportunities for the hemp oil market. Increased penetration of hemp oil on e- commerce platform, growth and expansion of e-commerce industry especially in the developing economies and westernization will further induce growth in the hemp oil market value. Changing lifestyle and usage of hemp oil in the production of fuel, paints and other uses will also induce growth in the market value.
However, large scale availability of substitutes in the market will pose a major challenge to the growth of hemp oil market. High investment associated with the research and development proficiencies will further derail the hemp oil market growth rate. Strict regulations and regulations and restriction in the use of CBD in few countries will also dampen the market growth rate.
This hemp oil market report provides details of new recent developments, trade regulations, import export analysis, production analysis, value chain optimization, market share, impact of domestic and localised market players, analyses opportunities in terms of emerging revenue pockets, changes in market regulations, strategic market growth analysis, market size, category market growths, application niches and dominance, product approvals, product launches, geographic expansions, technological innovations in the market. To gain more information on hemp oil market contact Data Bridge Market Research for an Analyst Brief, our team will help you take an informed market decision to achieve market growth.
Global Hemp Oil Market Scope and Market Size
The hemp oil market is segmented on the basis of product type and application. The growth among segments helps you analyse niche pockets of growth and strategies to approach the market and determine your core application areas and the difference in your target markets.
- On the basis of product type, the global hemp oil market is segmented into CBD Oil, hemp essential oil and hemp seed oil.
- On the basis of application, the global hemp oil market is classified into personal care products, pharmaceuticals and nutraceuticals, food and beverages, industrial uses and others.
Hemp Oil Market Country Level Analysis
The hemp oil market analyses and market size, volume information is provided by country, product type and application as referenced above.
The countries covered in the hemp oil market report are U.S., Canada, Mexico in North America, Germany, Sweden, Poland, Denmark, Italy, U.K., France, Spain, Netherlands, Belgium, Switzerland, Turkey, Russia, Rest of Europe in Europe, Japan, China, India, South Korea, New Zealand, Vietnam, Australia, Singapore, Malaysia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific (APAC) in Asia-Pacific (APAC), Brazil, Argentina, Rest of South America as a part of South America, UAE, Saudi Arabia, Oman, Qatar, Kuwait, South Africa, Rest of Middle East and Africa(MEA) as a part of Middle East and Africa(MEA).
North America region dominates the hemp oil market and will continue to flourish its trend of dominance during the forecast period owing to high adoption of hemp oil-based personal care products and food and beverages. Asia-Pacific will however, score the highest CAGR for the forecast period high adoption of hemp oil based anti-aging products.
The country section of the hemp oil market report also provides individual market impacting factors and changes in regulation in the market domestically that impacts the current and future trends of the market. Data points such as consumption volumes, production sites and volumes, import export analysis, price trend analysis, cost of raw materials, down-stream and upstream value chain analysis are some of the major pointers used to forecast the market scenario for individual countries. Also, presence and availability of global brands and their challenges faced due to large or scarce competition from local and domestic brands, impact of domestic tariffs and trade routes are considered while providing forecast analysis of the country data.
Competitive Landscape and Hemp Oil Market Share Analysis
The hemp oil market competitive landscape provides details by competitor. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, global presence, production sites and facilities, production capacities, company strengths and weaknesses, product launch, product width and breadth, application dominance. The above data points provided are only related to the companies’ focus related to hemp oil market.
The major players covered in the hemp oil market report are Aurora Cannabis Inc., CV Sciences, Inc., ENDOCA., Gaia Herbs, Isodiol International Inc, VIVO Cannabis Inc., CannazALL, Hemp Oil Canada., Medical Marijuana, Inc., FOLIUM BIOSCIENCES, CV Sciences, Inc., PharmaHemp, Gaia Herbs, Canazil, KAZMIRA, SPRING CREEK LABS, Cavendish Nutrition LLC, Dr Hemp Me, QC Infusion and Hemp Production Services among other domestic and global players. Market share data is available for Global, North America, Europe, Asia Pacific (APAC), Middle East and Africa (MEA) and South America separately. DBMR analysts understand competitive strengths and provide competitive analysis for each competitor separately.