Global Hemp Oil Market Analysis, Drivers, Restraints, Opportunities, Threats, Trends, Applications, and Growth Forecast: 2019–2028
“Global Hemp Oil Market Analysis Trends, Applications, Analysis, Growth, and Forecast to 2028” is a recent report generated by MarketResearch.biz. The global hemp oil market report has been segmented as per product type, application, and region.
Global Hemp Oil Market: Overview
Hemp oil is obtained by pressing the hemp seeds. This oil widely used in the production of various personal care products due to the presence of essential fatty acids, nutrients, and antioxidants in the oil. In addition, hemp oil also used in various application such as pharma and nutraceuticals, industrial uses, food and beverages, and others. The hemp oil is very popular for massage and healing treatments. The various types of hemp oil such as CBD oil, hemp essential oil, and hemp seed oil very famous across the globe and easily available in the market.
Global Hemp Oil Market: Dynamics
Increasing demand for hemp oil across the globe due to rising adoption of hemp oil in personal care products and food and beverages industries across the globe is a key factor driving growth of the global hemp oil market. In addition, increasing awareness about various health benefits associated with this oil such as relief from anxiety, sleep disorders, chronic pain, and others resulting in the growing demand for hemp oil across the globe is another factor projected to fuel growth of the target market.
Rising adoption of hemp oil in many nutraceutical and pharma applications and growing awareness about hemp seed oil which helps to prevent of various diseases including diabetes, inflammation, cancer, and others are projected to boost growth of the global market. In addition, rising penetration of hemp oil on the e-commerce platform and increasing adoption of hemp oil in the production of fuel, lubricants, paints, and others industrial uses are other factors expected to propel growth of the target market over the forecast period.
Furthermore, high investment in research & development and the rising number of aggressive marketing strategies by major hemp oil manufacturers are other major factors expected to proliferate growth of the target market in the upcoming years.
However, the high cost associated with hemp oil is a key factor projected to hamper growth of the target market. In addition, the availability of hemp oil substitutes in the market is a challenging factor that may affect growth of the target market to a certain extent.
Global Hemp Oil Market: Segment Analysis
The rapid adoption of hemp seed oil across the globe due to the presence of fatty acids and nutrients and health beneficial properties associated with this oil is the primary factor driving revenue growth of the hemp seed oil among the product type segments.
Among the application segments, the pharma and nutraceuticals segment is anticipated to the highest growth in the global hemp oil market, owing to medicinal benefits associated with it. Also, rapid adoption of hemp oil as primary therapy of cancer helps to support the growth of this segment.
Global Hemp Oil Market: Region Analysis
North America hemp oil market holds major revenue share in the global market followed by the market in Europe, owing to high adoption of hemp oil-based personal care products and food and beverages in the countries such as Canada, US, France, UK, Italy, and Germany in these regions. The market in the Asia Pacific is expected to witness significant growth in the target market, owing to rising requirement for various massage and healing treatments, high adoption of hemp oil based anti-aging products, and high adoption of hemp oil based food and beverages in the countries such as China, Japan, and India in this region.
Global Hemp Oil Market Segmentation:
Segmentation by Product Type:
- CBD Oil
- Hemp Essential Oil
- Hemp Seed Oil
Segmentation by Application:
- Personal Care Products
- Pharma and Nutraceuticals
- Food and Beverages
- Industrial Uses
Segmentation by Region:
- North America
- Asia Pacific
- Latin America
- Middle East & Africa
Particular Scope Region
- North America
- Rest of Europe
- Asia Pacific
- South Korea
- Rest of Asia Pacific
- Latin America
- Rest of Latin America
- Middle East and Africa
- South Africa
- Rest of Middle East and Africa
Actual Year 2020 Estimated Year 2021 Forecast Period 2021–2030 Revenue in US$
- Isodiol International Inc.
- HempLife Today, LLC
- Aurora Cannabis Inc.
- Hemp Oil Canada Inc.
- Medical Marijuana, Inc.
- Folium Biosciences LLC
- CV Sciences, Inc.
- Pharmahemp d.o.o.
- Hempco Food and Fiber Inc.
- Bluebird Botanicals
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