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U.S. Hemp Oil Market – Industry Trends and Forecast to 2031

Food & Beverage

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U.S. Hemp Oil Market – Industry Trends and Forecast to 2031

  • Food & Beverage
  • Upcoming Report
  • Mar 2024
  • Country Level
  • 350 Pages
  • No of Tables: 220
  • No of Figures: 60

U.S. Hemp Oil Market – Industry Trends and Forecast to 2031

Market Size in USD Billion

CAGR :  % Diagram

Diagram Forecast Period 2023–2031
Diagram Market Size (Base Year) USD 1,898.01 USD Thousand
Diagram Market Size (Forecast Year) USD 12,683.86 USD Thousand
Diagram CAGR %

Major Markets Players

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U.S. Hemp Oil Market, By Products (Hemp Seed Oil, CBD Oil, and Hemp Flower Oil), Type (Original, and Blended), Source (Organic and Inorganic), Component (Hemp Seed Oil, and Hemp CBD Oil), Extraction Process (Cold Pressed Hemp Seed Oil, and Refined Hemp Seed Oil), Grade (Food Grade, and Pharmaceutical Grade), Distribution Channel (Direct and Indirect), Application (Food and Beverages, Personal Care/Cosmetics, Pharma and Nutraceuticals, Industrial Application, Agriculture, Animal Feed, and Others) – Industry Trends and Forecast to 2031.

U.S. Hemp Oil Market Analysis and Size

In the hemp oil market, the benefits and uses are diverse. Renowned for its therapeutic properties, hemp oil offers relief from pain, anxiety, and inflammation. Its versatility extends to skincare, promoting healthier skin. With its nutritional value, it's also a popular dietary supplement, fostering overall wellness.

Data Bridge Market Research analyses that the U.S. hemp oil market, which was USD 1,898.01 thousand in 2023, is expected to reach USD 12,683.86 thousand by 2031, at a CAGR of 26.8% during the forecast period 2024 to 2031. In addition to the insights on market scenarios such as market value, growth rate, segmentation, geographical coverage, and major players, the market reports curated by the Data Bridge Market Research also include in-depth expert analysis, geographically represented company-wise production and capacity, network layouts of distributors and partners, detailed and updated price trend analysis and deficit analysis of supply chain and demand.

Report Scope and Market Segmentation      

Report Metric

Details

Forecast Period

2024 to 2031

Base Year

2023

Historic Years

2022 (Customizable to 2016 - 2021)

Quantitative Units

Revenue in USD Thousand, Volumes in Units, Pricing in USD

Segments Covered

Products (Hemp Seed Oil, CBD Oil, and Hemp Flower Oil), Type (Original and Blended), Source (Organic and Inorganic), Component (Hemp Seed Oil and Hemp CBD Oil), Extraction Process (Cold Pressed Hemp Seed Oil, and Refined Hemp Seed Oil), Grade (Food Grade, and Pharmaceutical Grade), Distribution Channel (Direct and Indirect), Application (Food and Beverages, Personal Care/Cosmetics, Pharma and Nutraceuticals, Industrial Application, Agriculture, Animal Feed, and Others)

Market Players Covered

Nutiva Inc. (U.S.), Canopy Growth Corporation (Canada), Connolis LLC (U.S.), Maverik Oils (U.S.), NP Nutra (U.S.), Agropro (Austria), Canah International SRL (Romania), Ecofiber Limited (Australia), 13 Seeds Hemp Farm (Australia), Elixinol Wellness Limited (Australia), BOHECO (India), Manitoba Harvest (Canada), Sky Organics (U.S.), Velona (Sri Lanka), Live Verdure Ltd. (13 Seeds) (Australia), BOMBAY HEMP COMPANY PVT. LTD. (BOHECO) India), and Bioriginal Food & Science Corp (Canada)

Market Opportunities

  • Advancements in Extraction Technologies
  • Expansion of Distribution Channels

Market Definition

Hemp oil, derived from the hemp plant seeds, is rich in nutrients such as omega-3 and omega-6 fatty acids, vitamins, and minerals. It is commonly used in cooking, skincare products, and supplements due to its potential health benefits, including improving skin health, reducing inflammation, and supporting heart health.

U.S. Hemp Oil Market Dynamics

Drivers

  • Shift Towards Natural and Organic Products

Consumer preference for natural and organic products is fueling demand for hemp oil, a sustainable alternative to synthetic ingredients. Its eco-friendly profile aligns with rising environmental consciousness. This trend propels hemp oil's popularity across various industries, meeting consumer expectations for healthier, environmentally responsible choices in skincare, supplements, and food products.

  • Rising Demand in Wellness and Personal Care Industries

Hemp oil is increasingly sought after in the wellness and personal care sectors for its moisturizing, anti-inflammatory, and antioxidant qualities. This surge in demand propels the creation of hemp oil-infused skincare, haircare, and bath products as consumers embrace natural solutions for enhanced health and beauty routines.

Opportunities

  • Advancements in Extraction Technologies

Technological advancements in hemp oil extraction enhance quality, purity, and yield, boosting commercial viability. These innovations drive cost-effectiveness for manufacturers, facilitating broader market penetration and meeting rising consumer demand. Improved extraction methods ensure higher-quality products, fueling growth in the hemp oil industry and supporting its integration into various sectors.

  • Expansion of Distribution Channels

The hemp oil market is benefiting from the proliferation of online retail channels and the entrance of mainstream retailers. This expansion significantly broadens the accessibility and availability of hemp oil products, allowing them to reach a wider audience of consumers seeking natural and wellness-oriented solutions for their health and skincare needs.

Restraints/Challenges

  • Issues in Quality Control

Ensuring consistent quality and potency of hemp oil is hindered by diverse cultivation methods, extraction techniques, and a lack of standardized testing protocols. These variations pose challenges in maintaining product reliability and may undermine consumer trust in the market's offerings.    

  • International Trade Restrictions

International trade restrictions, stemming from variations in regulations and trade policies across countries, pose significant barriers to importing and exporting hemp oil products. These inconsistencies hinder market expansion by creating logistical challenges and limiting the industry's global reach.

This U.S. 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 localized 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 info on the U.S. 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.

Recent Development

  • In March 2021, Yooma Wellness Inc., a distributor and marketer of hemp-derived wellness products, acquired Socati Corp. to broaden its geographic presence. The move aims to strengthen the company's market position and expand its reach in the hemp and cannabinoid wellness sector
  • In April 2020, QEMP launched qemp ZERO, a THC-free pure hemp seed oil infused with organic herbs. The product offers various benefits including non-GMO, vegan, and antioxidant support, catering to health-conscious consumers seeking natural wellness solutions
  • In February 2020, Linwoods launched MULTIBOOST, an organic line of milled hemp seed mixes designed to enhance nutritional health. Available in four flavors, these mixes contain hemp seeds, flax, chia seeds, mulberries, and mixed nuts, providing versatile options for incorporating essential nutrients into everyday diets

Impact and Current Market Scenario of Raw Material Shortage and Shipping Delays

Data Bridge Market Research offers a high-level analysis of the market and delivers information by keeping in account the impact and current market environment of raw material shortage and shipping delays. This translates into assessing strategic possibilities, creating effective action plans, and assisting businesses in making important decisions.

Apart from the standard report, we also offer in-depth analysis of the procurement level from forecasted shipping delays, distributor mapping by region, commodity analysis, production analysis, price mapping trends, sourcing, category performance analysis, supply chain risk management solutions, advanced benchmarking, and other services for procurement and strategic support.

Expected Impact of Economic Slowdown on the Pricing and Availability of Products

When economic activity slows, industries begin to suffer. The forecasted effects of the economic downturn on the pricing and accessibility of the products are taken into account in the market insight reports and intelligence services provided by DBMR. With this, our clients can typically keep one step ahead of their competitors, project their sales and revenue, and estimate their profit and loss expenditures.

U.S. Hemp Oil Market Scope

The U.S. hemp oil market is segmented on the basis of products, type, source, component, extraction process, grade, distribution channel, and application. The growth amongst these segments will help you analyze meagre growth segments in the industries and provide the users with a valuable market overview and market insights to help them make strategic decisions for identifying core market applications.

Products

  • Hemp Seed Oil
  • CBD Oil
  • Hemp Flower Oil

 Type

  • Original
  • Blended

 Source

  • Organic
  • Inorganic

 Component

  • Hemp Seed Oil
  • Hemp CBD Oil

 Extraction Process

  • Cold Pressed Hemp Seed Oil
  • Refined Hemp Seed Oil

 Grade

  • Food Grade
  • Pharmaceutical Grade

 Distribution Channel

  • Direct
  • Indirect

 Application

  • Food and Beverages
  • Personal Care/Cosmetics
  • Pharma and Nutraceuticals
  • Industrial Application
  • Agriculture
  • Animal Feed
  • Others

Competitive Landscape and U.S. Hemp Oil Market Share Analysis

The U.S. 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 the market.

Some of the major players operating in the U.S. hemp oil market are:

  • Nutiva Inc. (U.S.)
  • Canopy Growth Corporation (Canada)
  • Connolis LLC (U.S.)
  • Maverik Oils (U.S.)
  • NP Nutra (U.S.)
  • Agropro (Austria)
  • Canah International SRL (Romania)
  • Ecofiber Limited (Australia)
  • 13 Seeds Hemp Farm (Australia)
  • Elixinol Wellness Limited (Australia)
  • BOHECO (India)
  • Manitoba Harvest (Canada)
  • Sky Organics (U.S.)
  • Velona (Sri Lanka)
  • Live Verdure Ltd. (13 Seeds) (Australia)
  • BOMBAY HEMP COMPANY PVT. LTD. (BOHECO) (India)
  • Bioriginal Food & Science Corp (Canada)


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Research Methodology:

Data collection and base year analysis are done using data collection modules with large sample sizes. The stage includes obtaining market information or related data through various sources and strategies. It includes examining and planning all the data acquired from the past in advance. It likewise envelops the examination of information inconsistencies seen across different information sources. The market data is analysed and estimated using market statistical and coherent models. Also, market share analysis and key trend analysis are the major success factors in the market report. To know more, please request an analyst call or drop down your inquiry.

The key research methodology used by DBMR research team is data triangulation which involves data mining, analysis of the impact of data variables on the market and primary (industry expert) validation. Data models include Vendor Positioning Grid, Market Time Line Analysis, Market Overview and Guide, Company Positioning Grid, Patent Analysis, Pricing Analysis, Company Market Share Analysis, Standards of Measurement, Global versus Regional and Vendor Share Analysis. To know more about the research methodology, drop in an inquiry to speak to our industry experts.

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FREQUENTLY ASK QUESTIONS

The U.S. Hemp Oil Market size will be worth USD 12,683.86 thousand by 2031 during the forecast period.
The U.S. Hemp Oil Market growth rate is 26.8% during the forecast period.
The Rising Demand in Wellness, Personal Care Industries, Shift Towards Natural and Organic Products are the growth drivers of the U.S. Hemp Oil Market.
The products, type, source, component, extraction process, grade, distribution channel, and application are the factors on which the U.S. Hemp Oil Market research is based.
The major companies in the U.S. Hemp Oil Market are Nutiva Inc. (U.S.), Canopy Growth Corporation (Canada), Connolis LLC (U.S.), Maverik Oils (U.S.), NP Nutra (U.S.), Agropro (Austria), Canah International SRL (Romania), Ecofiber Limited (Australia), 13 Seeds Hemp Farm (Australia), Elixinol Wellness Limited (Australia), BOHECO (India), Manitoba Harvest (Canada), Sky Organics (U.S.), Velona (Sri Lanka), Live Verdure Ltd. (13 Seeds) (Australia), BOMBAY HEMP COMPANY PVT. LTD. (BOHECO) India), and Bioriginal Food & Science Corp (Canada).
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