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Hemp Seed Oil Market size was valued at USD 101.17 million in 2022 and is poised to grow from USD 116.04 million in 2023 to USD 347.63 million by 2031, at a CAGR of 14.70% during the forecast period (2024-2031).

The 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. 'Manitoba Harvest Hemp Foods (Canada)', 'Hemp Oil Canada (Canada)', 'Canopy Growth Corporation (Canada)', ' Isodiol International Inc. ', ' Elixinol Limited ', ' CV Sciences Inc. ', ' Nutiva Inc. ', ' Hempco Food and Fiber Inc. ', ' Green Roads of Florida LLC ', ' Folium Biosciences LLC ', ' Kazmira LLC ', ' PharmaHemp d.o.o. ', ' Aphria Inc. ', ' Charlotte's Web Holdings Inc. ', ' Aurora Cannabis Inc. ', ' ENDOCA BV ', ' Medical Marijuana Inc. ', ' Bluebird Botanicals ', ' HempLife Today ', ' HempMeds '

One of the major drivers of the hemp seed oil market is the increasing demand for natural and organic products. As consumers become more health-conscious and environmentally aware, there is a growing preference for products made from natural ingredients that have minimal environmental impact. Hemp seed oil is a natural and organic product that is rich in essential fatty acids and antioxidants, making it an attractive option for consumers looking for health and wellness products. The growing demand for natural and organic products is expected to drive market growth in the coming years.

One of the key market trends in the hemp seed oil market is the increasing use of hemp seed oil in personal care and cosmetics products. Hemp seed oil is a rich source of essential fatty acids and antioxidants, making it an attractive ingredient for skincare and hair care products. The growing trend of natural and organic skincare products and the rising awareness of the benefits of hemp seed oil are driving the demand for hemp seed oil in the personal care and cosmetics industry. This trend is expected to continue in the coming years, as more consumers shift towards natural and sustainable beauty products.

North America dominated the 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.

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Global Hemp Seed Oil Market

Product ID: SQMIG10G2020