Hemp Oil Market By Type (Hemp Seed Oil, Hemp CBD Oil, Hemp Essential Oil), By Application (Pharma & Nutraceuticals, Personal Care Products, Industrial Uses, Food & Beverages) - Growth, Future Prospects & Competitive Analysis, 2018 – 2026

Industry Outlook

Hemp oil refers to the oil obtained by pressing the seeds of hemp. Extracted oil mainly used in skincare products, although industrial hemp oil used in the production of paints, lubricants, fuel and plastics. Presence of nutrients, essential fatty acids and antioxidants are perfect for skin; makes it ideal for healing and massage treatments.  Growing demand for hemp oil from food & beverages and industrial use applications coupled with the increasing applications in personal care products sector mainly in North America and Europe region is expected to boost the market growth during the forecast period. Furthermore, the market for hemp oil is likely to expand at a significant growth in the next five years owing to increased geographic presence and competition among players in the market. There has been a change witnessed in the use of hemp oil across the globe due to increasing awareness of the benefits and effects of it, which is leading towards increased demand for hemp oil in the market.

Market Synopsis

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Growing awareness about health benefits associated with hemp CBD oil is likely to propel the market in upcoming years

In 2017, hemp seed oil was the largest segment in terms of value with the market share of more than 60%, of the overall hemp oil market worldwide. However, in the coming years, hemp CBD oil expected to emerge as the fastest-growing segment in the overall hemp oil market by product type owing to high demand for hemp-derived CBD from developed economies such as North America and Europe. CBD possesses an array of therapeutic benefits, including antioxidant and neuroprotective properties, can be derived from both marijuana and hemp plant.

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Increasing use of hemp oil in pharma & nutraceutical applications is driving the demand for hemp oil in developed as well as developing countries

Pharma & nutraceuticals segment dominated the global hemp oil market in 2017 with a market share of more than 30% and expected to maintain its dominance over the forecast period. Hemp oil is widely used in pharma & nutraceuticals and personal care products, as it contains polyunsaturated fatty acids, protein, insoluble fiber, omega 3, omega 6 and polyunsaturated fatty acids. It is also a good source of tocopherols or Vitamin E antioxidants. Hemp oil can be consumed orally, applied topically, or smoked via vaporization.

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Relaxation in stricter regulation regarding sales of hemp oil in the United States catapult the demand for hemp oil in the region

North America is expected to grow at the highest CAGR from 2018 to 2026 owing to increasing demand from various end-use applications in the region and relaxing stricter regulation regarding sales of hemp oil in the United States. In May 2018, DEA (Drug Enforcement Administration) issued an internal directive, which acknowledges that products and materials made from the cannabis plant that fall outside the CSA’s (Controlled Substance Act) definition of marijuana. Oil or cake made from the seeds, Sterilized seeds incapable of germination, fiber from mature stalks and mature stalks are exempt from CSA.

Leading brands are aggressively investing in research & development

Global manufacturers are focusing upon continuous research & development in order to develop new and innovative products. Companies such as Gaia Botanicals, Isodiol, and Medical Marijuana among others are focusing upon innovating new products and launch products on hemp oil. Additionally, several companies also have launched hemp oil-based anti-aging products and chewing gums, which are generating the opportunity to the global hemp oil market during the forecast period. Aurora Cannabis, Inc., Cannoid, LLC, CV Science, Inc., Elixinol, Isodiol International Inc., HempLife Today, Medical Marijuna, Inc., PharmaHemp d.o.o., Hempco, ENDOCA B.V., Folium Biosciences LLC, Bluebird Botanicals and Hemp Oil Canada, Inc. among others are some of the prominent players in global Hemp Oil market.

Historical & Forecast Period

Our study analyzed each market segment during the period of 2016 to 2026 with 2017 as the base year. Forecast period between 2018 and 2026 considered for the CAGR calculation.

Report Scope

The report enlightens the thorough outline of the global hemp oil market by categorizing the market in different segment given below:

This research report describes leading continents and their major countries, along with profiles of key players operating in the overall market and their planned developments. Our report further defines the overall market dynamics such as drivers, challenges, and opportunities prevalent in the market to understand the global hemp oil market more explicitly. Our in-depth quantitative and quantitative analysis of each segment up to country level highlights revenue pockets and investment opportunities in the market.

Key questions answered in this report

• What are the current market trends in the hemp oil market and valuable opportunities for the players?
• How the regulations affect global as well as the regional markets?
• Which are the prominent and recent innovations in the market?
• Which is the most lucrative region for investment?
• What is the market size and trends in emerging markets?
• Which are the major applications of hemp oil and their market sizes?
• Which are the leading players and their market position?

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