USD 101.17 million
Hemp Seed Oil Market Size, Share, Growth Analysis, By Product Type(Organic, and Conventional), By Distribution Channel(Online retail, and Offline retail), By Application(Food and Beverages, and Pharmaceuticals), By Region - Industry Forecast 2024-2031
Report ID:
SQMIG10G2020 |
Region:
Global |
Published Date: April, 2024
Pages:
178
|Tables:
87
|Figures:
76
Hemp Seed Oil Market Insights
Global 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).
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.
Market Snapshot - 2024-2031
Global Market Size
Largest Segment
Organic
Fastest Growth
Organic
Growth Rate
14.70% CAGR
Global Hemp Seed Oil Market 2022-2030 ($ Bn)
Country Share for North America Region- 2022 (%)
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Hemp Seed Oil Market Segmental Analysis
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.
Global Hemp Seed Oil Market Size By Product Type, 2022 (%)
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Hemp Seed Oil Market Regional Insights
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.
Global Hemp Seed Oil Market By Geography, 2022-2030
- Largest
- Fastest
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Hemp Seed Oil Market Dynamics
Hemp Seed Oil Market Drivers
Increasing demand for natural and organic products
- One of the major drivers of the global 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.
Hemp Seed Oil Market Restraints
Lack of awareness and confusion
- One of the major restraints of the global hemp seed oil market is the lack of awareness and confusion surrounding the legal status of hemp-derived products. While hemp seed oil does not contain significant levels of THC, the psychoactive compound found in cannabis, there is still confusion surrounding the legal status of hemp-derived products. This can hinder the growth of the market, as consumers may be hesitant to purchase hemp seed oil due to uncertainty about its legality. The lack of clear regulations and standardization across different regions can also pose a challenge for market growth.
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Hemp Seed Oil Market Competitive Landscape
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
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Isodiol International Inc.
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Elixinol Global Limited
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CV Sciences Inc.
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Nutiva Inc.
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Hempco Food and Fiber Inc.
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Green Roads of Florida LLC
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Folium Biosciences LLC
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Kazmira LLC
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PharmaHemp d.o.o.
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Aphria Inc.
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Charlotte's Web Holdings Inc.
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Aurora Cannabis Inc.
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ENDOCA BV
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Medical Marijuana Inc.
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Bluebird Botanicals
-
HempLife Today
-
HempMeds
Hemp Seed Oil Market Recent Developments
- In February 2023, Hemp Foods Australia, an Australian hemp food company, announced plans to expand its production facility to meet growing demand for hemp seed oil and other hemp-based products.
- In January 2023, Charlotte's Web Holdings, a Colorado-based hemp company, announced the launch of a new line of hemp seed oil-based products for the wellness market under the CW brand.
- In June 2022, Pure Hemp Botanicals, a Colorado-based hemp company, announced the launch of a new line of hemp seed oil-based pet products under the Pure Pet brand.
- In April 2022, Hemp Seed Oil Europe, a European hemp company, announced the launch of a new line of organic hemp seed oils for the cosmetics and personal care industry.
- In January 2022, Hemp Industries Association, a leading trade association for the hemp industry, announced plans to launch a new certification program for hemp seed oil products to ensure quality and safety.
Hemp Seed Oil Key Market Trends
- One of the key market trends in the global 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.
Hemp Seed Oil Market SkyQuest Analysis
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.
| Report Metric | Details |
|---|---|
| Market size value in 2023 | USD 101.17 million |
| Market size value in 2031 | USD 347.63 million |
| Growth Rate | 14.70% |
| Forecast period | 2024-2031 |
| Forecast Unit (Value) | USD Million |
| Segments covered |
|
| 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) |
| Companies covered |
|
| Customization scope | Free report customization with purchase. Customization includes:-
|
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Table Of Content
Executive Summary
Market overview
- Exhibit: Executive Summary – Chart on Market Overview
- Exhibit: Executive Summary – Data Table on Market Overview
- Exhibit: Executive Summary – Chart on Hemp Seed Oil Market Characteristics
- Exhibit: Executive Summary – Chart on Market by Geography
- Exhibit: Executive Summary – Chart on Market Segmentation
- Exhibit: Executive Summary – Chart on Incremental Growth
- Exhibit: Executive Summary – Data Table on Incremental Growth
- Exhibit: Executive Summary – Chart on Vendor Market Positioning
Parent Market Analysis
Market overview
Market size
- Market Dynamics
- Exhibit: Impact analysis of DROC, 2021
- Drivers
- Opportunities
- Restraints
- Challenges
- Exhibit: Impact analysis of DROC, 2021
- SWOT Analysis
KEY MARKET INSIGHTS
- Technology Analysis
- (Exhibit: Data Table: Name of technology and details)
- Pricing Analysis
- (Exhibit: Data Table: Name of technology and pricing details)
- Supply Chain Analysis
- (Exhibit: Detailed Supply Chain Presentation)
- Value Chain Analysis
- (Exhibit: Detailed Value Chain Presentation)
- Ecosystem Of the Market
- Exhibit: Parent Market Ecosystem Market Analysis
- Exhibit: Market Characteristics of Parent Market
- IP Analysis
- (Exhibit: Data Table: Name of product/technology, patents filed, inventor/company name, acquiring firm)
- Trade Analysis
- (Exhibit: Data Table: Import and Export data details)
- Startup Analysis
- (Exhibit: Data Table: Emerging startups details)
- Raw Material Analysis
- (Exhibit: Data Table: Mapping of key raw materials)
- Innovation Matrix
- (Exhibit: Positioning Matrix: Mapping of new and existing technologies)
- Pipeline product Analysis
- (Exhibit: Data Table: Name of companies and pipeline products, regional mapping)
- Macroeconomic Indicators
COVID IMPACT
- Introduction
- Impact On Economy—scenario Assessment
- Exhibit: Data on GDP - Year-over-year growth 2016-2022 (%)
- Revised Market Size
- Exhibit: Data Table on Hemp Seed Oil Market size and forecast 2021-2027 ($ million)
- Impact Of COVID On Key Segments
- Exhibit: Data Table on Segment Market size and forecast 2021-2027 ($ million)
- COVID Strategies By Company
- Exhibit: Analysis on key strategies adopted by companies
MARKET DYNAMICS & OUTLOOK
- Market Dynamics
- Exhibit: Impact analysis of DROC, 2021
- Drivers
- Opportunities
- Restraints
- Challenges
- Exhibit: Impact analysis of DROC, 2021
- Regulatory Landscape
- Exhibit: Data Table on regulation from different region
- SWOT Analysis
- Porters Analysis
- Competitive rivalry
- Exhibit: Competitive rivalry Impact of key factors, 2021
- Threat of substitute products
- Exhibit: Threat of Substitute Products Impact of key factors, 2021
- Bargaining power of buyers
- Exhibit: buyers bargaining power Impact of key factors, 2021
- Threat of new entrants
- Exhibit: Threat of new entrants Impact of key factors, 2021
- Bargaining power of suppliers
- Exhibit: Threat of suppliers bargaining power Impact of key factors, 2021
- Competitive rivalry
- Skyquest special insights on future disruptions
- Political Impact
- Economic impact
- Social Impact
- Technical Impact
- Environmental Impact
- Legal Impact
Market Size by Region
- Chart on Market share by geography 2021-2027 (%)
- Data Table on Market share by geography 2021-2027(%)
- North America
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- USA
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Canada
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Europe
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- Germany
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Spain
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- France
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- UK
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of Europe
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Asia Pacific
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- China
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- India
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Japan
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- South Korea
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of Asia Pacific
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Latin America
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- Brazil
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of South America
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Middle East & Africa (MEA)
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- GCC Countries
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- South Africa
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of MEA
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
KEY COMPANY PROFILES
- Competitive Landscape
- Total number of companies covered
- Exhibit: companies covered in the report, 2021
- Top companies market positioning
- Exhibit: company positioning matrix, 2021
- Top companies market Share
- Exhibit: Pie chart analysis on company market share, 2021(%)
- Total number of companies covered
Methodology
For the 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 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.
Analyst Support
Customization Options
With the given market data, our dedicated team of analysts can offer you the following customization options are available for the 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 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.
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