Global Hemp Oil Market 2021 (Includes Business Impact of COVID-19)

                                          
Report updated on 11th September, 2021: Global Hemp Oil Market 2021 (Includes Business Impact of COVID-19)
Global Hemp Oil Market Analysis Trends, Applications, Analysis, Growth, and Forecast to 2030 is a recent report generated by Trusted Business Insights. The global hemp oil market report has been segmented as per product type, application, and region.
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The global Hemp Oil Market was valued at $ 51.69 million in 2020 and is predicted to reach $ 1230.59 million by 2030, developing with a CAGR of 37.3% from 2020 to 2030.


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.


Below are the active patents related to Hemp Oil Market.


Patent Number: US20170022132A1

Novel process for generating hemp oil with a high cannabidiol (cbd) content

Abstract

A method for producing hemp oil, comprising decarboxylation of CBDA in hemp oil; short-path evaporation of CBD from the decarboxylated hemp oil to produce CBD oil; selective THC to CBN conversion performed on the decarboxylated hemp oil.

Application filed Date: 2016-04-28

Application granted Date: 2019-07-16

Current Assignee: Cannavest Corp Cv Sciences Inc

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


Key Market Players included in the report:


  
Aurora Cannabis Inc.
  
Bluebird Botanicals
  
Canazil
  
Cannoid
  
Canopy Growth Corporation
  
Cavendish Nutrition Fulfillment LLC
  
CBD Oil Europe
  
CV Sciences, Inc.
  
Elixinol
  
ENDOCA
  
Folium Biosciences LLC
  
Gaia Botanicals
  
Green Roads
  
Hemp Oil Canada Inc.
  
Hemp Production Services
  
Hempco Food and Fiber Inc.
  
HempLife Today, LLC
  
Hudson Valley Hemp
  
IRIE CBD
  
Isodiol International Inc.
  
Kazmira
  
King CBD
  
Medical Marijuana, Inc.
  
Moon Mother Hemp Company
  
NuLeaf Naturals
  
Pharmahemp d.o.o.
  
QC Infusion
  
Royal CBD
  
Spring Creek Labs
  
Suyash Herbs