USD 88.2 million
Report ID: SQMIG10G2020 | Region: Global | Published Date: March, 2023 | Pages: 157 | Tables: 87 | Figures: 76
Hemp Seed Oil Market size was valued at USD 88.2 million in 2021 and is poised to grow from USD 101.17 million in 2022 to USD 303.07 million by 2030, growing at a CAGR of 14.7% in the forecast period (2023-2030).
Hemp seed oil has gained popularity in recent years due to its nutritional value and potential health benefits. Hemp seed oil contains high levels of essential fatty acids, such as omega-6 and omega-3, which are important for maintaining healthy skin, hair, and nails. It also contains antioxidants and vitamins such as vitamin E, which help protect against free radicals and may improve overall skin health. Unlike CBD oil, hemp seed oil does not contain significant amounts of THC, the psychoactive compound in cannabis, and is, therefore legal in many countries. It is commonly used as a dietary supplement or ingredient in cosmetics and personal care products. Manufacturers are offering hemp in various forms to target a diverse range of issues, owing to the increasing demand for the product among consumers due to its medicinal benefits. CBII, for example, offers products in various forms such as gummies, oils, capsules, and balm & face oil, targeting issues like stress, sleep, and pain. This has led to an increase in the application of the product in various industries including beauty and personal care, cosmetics, food and beverages, health & pharmaceuticals, textile, and others. The legalization of the use of hemp seed products in the U.S. food supply under the Farm Bill has further fueled the inclusion of such products by manufacturers. Additionally, based on our in depth analysis, we found that, the production of hemp has increased by 62.4% to meet the rising consumer demand.
US Hemp Seed Oil Market is poised to grow at a sustainable CAGR for the next forecast year.
Global Market Size
USD 88.2 million
To get more reports on the above market click here to Buy The Report
Global Hemp Seed Oil market is segmented by product type, distribution channel, application and region. Based on type, the Hemp Seed Oil Market can be segmented into organic, and conventional. Based on distribution channel, the Hemp Seed Oil Market is segmented into online retail, and offline retail. Based on application, the Hemp Seed Oil Market is segmented into food and beverages, and pharmaceuticals. Based on region, the Hemp Seed Oil Market is segmented into North America, Europe, Asia Pacific, Middle East and Africa, and Latin America.
Hemp Seed Oil Market Analysis by Product Type
By type the market can be segmented into organic, and conventional. The organic segment is dominated the global market. This growth is driven by the increasing demand for organic hemp seed oil in various end-use industries, particularly in the food and beverage and personal care sectors.
The conventional segment is expected to witness rapid growth over the forecast period. This segment still holds a significant share of the market due to its affordability and availability. However, with the growing awareness of the health and environmental benefits of organic products, the conventional segment is expected to face increasing competition from the organic segment.
Hemp Seed Oil Market Analysis by Distribution Channel
By distribution channel, the market can be segmented into online retail, and offline retail. The offline segment dominated the hemp seed oil market due to the widespread availability of hemp seed oil in supermarkets and hypermarkets. Supermarkets/hypermarkets hold the largest market share due to their wider product range, accessibility, and convenience. Specialty stores are also expected to hold a significant share of the market due to their focus on natural and organic products.
The online segment is expected to grow at the fastest CAGR due to the increasing popularity of e-commerce websites and online retailers. The online market provides a wider range of products and greater convenience for consumers to shop anywhere and anytime. E-commerce websites and online retailers are expected to hold the largest share of the online market due to their increasing presence and marketing strategies.
To get detailed analysis on other segments, Request For Sample Report
North America dominated the global market. The United States dominated the regional market, due to the increasing demand for natural and organic products, the growing awareness of the health benefits of hemp seed oil, and the legalization of hemp cultivation in the country. The use of hemp seed oil in food and beverages, personal care products, and supplements is driving the market growth in this region.
APAC is expected to witness rapid growth in the hemp seed oil market in the coming years. China and India are the two largest markets for hemp seed oil in this region, due to the increasing demand for natural and organic products and the growing popularity of hemp seed oil in the food and beverage industry. The rising awareness of the health benefits of hemp seed oil, coupled with the growing disposable income of consumers, is expected to drive the market growth in this region.
To know more about the market opportunities by region and country, click here to
Buy The Complete Report
Hemp Seed Oil Market Drivers
Increasing demand for natural and organic products
Hemp Seed Oil Market Restraints
Lack of awareness and confusion
Speak to one of our ABIRAW analyst for your custom requirements before the purchase of this report
The global hemp seed oil market is fragmented, with several small and medium-sized players operating. These players focus on expanding their product portfolios, increasing their distribution channels, and improving their production capabilities to gain a larger market share. In addition, there is a growing trend of partnerships and collaborations between market players to leverage their strengths and improve their market position. The market is expected to witness increased competition in the coming years as new players enter the market and existing players compete for a larger market share.
Hemp Seed Oil Market Top Player’s Company Profiles
Isodiol International Inc.
Elixinol Global Limited
CV Sciences Inc.
Hempco Food and Fiber Inc.
Green Roads of Florida LLC
Folium Biosciences LLC
Charlotte's Web Holdings Inc.
Aurora Cannabis Inc.
Medical Marijuana Inc.
Hemp Seed Oil Market Recent Developments
SkyQuest’s ABIRAW (Advanced Business Intelligence, Research & Analysis Wing) is our Business Information Services team that Collects, Collates, Co-relates, and Analyses the Data collected by means of Primary Exploratory Research backed by robust Secondary Desk research.
According to our global hemp seed oil market analysis, the market is growing with increasing demand for natural and organic products. Hemp seed oil is a natural and organic product rich in essential fatty acids and antioxidants, making it an attractive option for consumers looking for health and wellness products. The market is characterized by a fragmented market with several small and medium-sized players operating in the market. The major drivers of the market include the increasing demand for natural and organic products, while the major restraints include the lack of awareness and confusion surrounding the legal status of hemp-derived products. One of the key market trends is the increasing use of hemp seed oil in personal care and cosmetics products.
|Market size value in 2021||USD 88.2 million|
|Market size value in 2030||USD 101.17 million|
|Forecast Unit (Value)||USD Million|
|Regions covered||North America (US, Canada), Europe (Germany, France, United Kingdom, Italy, Spain, Rest of Europe), Asia Pacific (China, India, Japan, Rest of Asia-Pacific), Latin America (Brazil, Rest of Latin America), Middle East & Africa (South Africa, GCC Countries, Rest of MEA)|
Free report customization with purchase. Customization includes:-
To get a free trial access to our platform which is a one stop solution for all your data requirements for quicker decision making. This platform allows you to compare markets, competitors who are prominent in the market, and mega trends that are influencing the dynamics in the market. Also, get access to detailed SkyQuest exclusive matrix.
Buy The Complete Report to read the analyzed strategies adopted by the top vendors either to retain or gain market share
Parent Market Analysis
KEY MARKET INSIGHTS
MARKET DYNAMICS & OUTLOOK
Market Size by Region
KEY COMPANY PROFILES
For the Global Hemp Seed Oil Market, our research methodology involved a mixture of primary and secondary data sources. Key steps involved in the research process are listed below:
1. Information Procurement: This stage involved the procurement of Market data or related information via primary and secondary sources. The various secondary sources used included various company websites, annual reports, trade databases, and paid databases such as Hoover's, Bloomberg Business, Factiva, and Avention. Our team did 45 primary interactions Globally which included several stakeholders such as manufacturers, customers, key opinion leaders, etc. Overall, information procurement was one of the most extensive stages in our research process.
2. Information Analysis: This step involved triangulation of data through bottom-up and top-down approaches to estimate and validate the total size and future estimate of the Global Hemp Seed Oil Market.
3. Report Formulation: The final step entailed the placement of data points in appropriate Market spaces in an attempt to deduce viable conclusions.
4. Validation & Publishing: Validation is the most important step in the process. Validation & re-validation via an intricately designed process helped us finalize data points to be used for final calculations. The final Market estimates and forecasts were then aligned and sent to our panel of industry experts for validation of data. Once the validation was done the report was sent to our Quality Assurance team to ensure adherence to style guides, consistency & design.
With the given market data, our dedicated team of analysts can offer you the following customization options are available for the Global Hemp Seed Oil Market:
Product Analysis: Product matrix, which offers a detailed comparison of the product portfolio of companies.
Regional Analysis: Further analysis of the Global Hemp Seed Oil Market for additional countries.
Competitive Analysis: Detailed analysis and profiling of additional Market players & comparative analysis of competitive products.
Go to Market Strategy: Find the high-growth channels to invest your marketing efforts and increase your customer base.
Innovation Mapping: Identify racial solutions and innovation, connected to deep ecosystems of innovators, start-ups, academics, and strategic partners.
Category Intelligence: Customized intelligence that is relevant to their supply Markets will enable them to make smarter sourcing decisions and improve their category management.
Public Company Transcript Analysis: To improve the investment performance by generating new alpha and making better-informed decisions.
Social Media Listening: To analyze the conversations and trends happening not just around your brand, but around your industry as a whole, and use those insights to make better Marketing decisions.
Our industry expert will work with you to provide you with customized data in a short amount of time.SPEAK TO AN ANALYST
Get lifetime access to our reportsBasic Plan $5,000 Team Plan $10,000 SUBSCRIBE NOW
Want to customize this report? This report can be personalized according to your needs. Our analysts and industry experts will work directly with you to understand your requirements and provide you with customized data in a short amount of time. We offer $1000 worth of FREE customization at the time of purchase.
"We have purchased recently a report from SkyQuest Technology, and we are happy to inform you that this report was so useful and practical for our team. Skyquest Team was very active and our queries were followed up completely.It was amazing. "
- Mr. Ali Zali, Commercial Director, ICIIC Iran.
Product ID: SQMIG10G2020