Global Hemp Oil Market By Product Type (CBD Oil, Hemp Essential Oil, Hemp Seed Oil), Application (Personal Care Products, Pharma and Nutraceuticals, Food and Beverages, Industrial Uses), Geography (North America, Europe, Asia-Pacific, South America, Middle East and Africa) – Industry Trends and Forecast to 2026
Global Hemp Oil Market is set to witness a healthy CAGR of 35.87% in the forecast period of 2019- 2026. The report contains data of the base year 2018 and historic year 2017. Rising use of hemp oil in skin care products and rising awareness about the medical benefits of hemp oil are the factor for the growth of this market.
Some of the major competitors currently working in the global hemp oil market are Isodiol International Inc, HempLife Today, Hemp Oil Canada Inc, Medical Marijuana, Inc., FOLIUM BIOSCIENCES, CV Sciences, Inc., Pharmahemp d.o.o., Gaia Botanicals, LLC, Canazil, Kazmira, Spring Creek Labs, Cavendish Nutrition Fulfillment LLC, Dr. Hemp Me., QC Infusion, Hemp Production Services, Hudson Valley Hemp, LLC., Green Roads, Royal CBD, Moon Mother Hemp Company, CBD Oil Europe, , King CBD Company and others.
Hemp oil is usually derived by pressing the hemp seeds. Hemp seed oil, hemp essential oil and CBD oil are some of the common types of the hemp oil. This oil consists of required fatty acids, antioxidants and nutraceuticals. They are very beneficial for the health as they have the ability to provide relief from problems such as chronic pain, sleeping disorders, anxiety and others. They are also used for healing and massage treatments as well. These hemp oils are widely used in applications such as cosmetic products, food and beverages, pharma and nutraceuticals and others.
- Increasing adoption of hemp oil in nutraceutical and pharma applications will drive the market growth
- Rising penetration of hemp oil on e- commerce platform will also accelerate the market growth
- Increasing usage of hemp oil in the production of fuel, paints and other uses will also propel the growth of this market
- Its ability to provide relief pain chronic pain, nerve pain, anxiety and sleep disorders will further enhance its adoption in the market
- High investment associated with the R&D will restrain market growth
- Increasing aggressive market strategies by manufacturer will also hinder the growth of this market
- Availability of the substitutes in the market is also hamper the market growth
Key Developments in the Market:
In May 2019, Curaleaf announced that they are going to acquire Cura Partners. This acquisition will help them to be the largest cannabis company in the U.S. and will help them to increase their revenue generation. This will also help the Curaleaf to expand them in the West coast and strengthen their position in the market
In January 2019, HempMeds announced the launch of their new cannabidiol (CBD) product Real Scientific Hemp Oil (RSHO) Maximum Strength. This new product consists of both CBD and CBDa in a combination of the company’s premium hemp oil. The main aim of the launch is to provide safe, high quality and topical formulation to the customer who wants to seek benefits from the CBD
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Segmentation: Global Hemp Oil Market
By Product Type
- CBD Oil
- Hemp Essential Oil
- Hemp Seed Oil
- Personal Care Products
- Pharma and Nutraceuticals
- Food and Beverages
- Industrial Uses
- North America
- Rest of Europe
- South Korea
- New Zealand
- Rest of Asia-Pacific
- South America
- Rest of South America
- Middle East and Africa
- Saudi Arabia
- South Africa
- Rest of Middle East and Africa
Global hemp oil market is highly fragmented and the major players have used various strategies such as new product launches, expansions, agreements, joint ventures, partnerships, acquisitions, and others to increase their footprints in this market. The report includes market shares of hemp oil market for global, Europe, North America, Asia-Pacific, South America and Middle East & Africa.
Research Methodology: Global Hemp Oil Market
Data collection and base year analysis is done using data collection modules with large sample sizes. The market data is analysed and forecasted using market statistical and coherent models. Also market share analysis and key trend analysis are the major success factors in the market report. To know more please request an analyst call or can drop down your enquiry.
The key research methodology used by DBMR research team is data triangulation which involves data mining, analysis of the impact of data variables on the market, and primary (industry expert) validation. Apart from this, other data models include vendor positioning grid, market time line analysis, market overview and guide, company positioning grid, company market share analysis, standards of measurement, top to bottom analysis and vendor share analysis. To know more about the research methodology, drop in an inquiry to speak to our industry experts.
Key Insights in the report:
- Competitive analysis of key competitors involved in the market
- Complete analysis of market segmentation and which segments are set to flourish in the forecast period of 2019 to 2026
- Market drivers and restraints analysis along with the analysis of the market structure
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