Hemp Oil Market size is estimated to be USD 1.8 Billion in 2024 and is expected to reach USD 3.5 Billion by 2033 at a CAGR of 7.8% from 2026 to 2033.
In 2022, the global hemp oil market was valued at approximately USD 9.8 billion and is projected to reach USD 27.2 billion by 2030, growing at a compound annual growth rate (CAGR) of 17.1% from 2023 to 2030. North America dominated the market, holding around 40% of the global share in 2022. This dominance is attributed to favorable regulations and a growing health conscious population. The United States alone contributed 33.4% to the global market revenue in 2022. Europe also held a significant position, with Germany accounting for 7.1% of the global market share in 2022. The Asia Pacific region is experiencing notable growth, driven by increasing consumer awareness and demand for natural products, with China and India anticipated to register CAGRs of 20.2% and 22.4%, respectively, through 2033. The Middle East & Africa region is projected to grow at the fastest CAGR of 16.4% over the forecast period from 2023 to 2030, propelled by advancements in the healthcare sector and the legalization of hemp cultivation in various African countries. In the United Arab Emirates, the non intoxicating properties of hemp seed oil are gaining popularity, making it suitable for use in products aimed at various demographics. The increasing legalization and regulatory advancements surrounding hemp and hemp derived products have played a crucial role in boosting the global hemp oil market.
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Cannavest
Pharmahemp
ENDOCA
BAFA Gmbh
Protect Pharma Rakitovica
Biobloom Hemp
Deep Nature Project
Harmony
DragonflyCBD
MH medical hemp GmbH
Cannavest
Elixinol
HemPoland
Opencrop GmbH
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By the year 2030, the scale for growth in the market research industry is reported to be above 120 billion which further indicates its projected compound annual growth rate (CAGR), of more than 5.8% from 2023 to 2030. There have also been disruptions in the industry due to advancements in machine learning, artificial intelligence and data analytics There is predictive analysis and real time information about consumers which such technologies provide to the companies enabling them to make better and precise decisions. In addition, new innovative techniques such as mobile surveys, social listening, and online panels, which emphasize speed, precision, and customization, are also transforming this particular sector.
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Growing demand for below applications around the world has had a direct impact on the growth of the Global Hemp Oil Market
Cold-pressed Hemp Seed Oil
Refined Hemp Seed Oil
Hemp Essential Oil
Hemp CBD Oil
Hemp Protein Oil
Food & Beverage
Cosmetics & Personal Care
Pharmaceuticals
Nutraceuticals
Industrial Applications
Online Retail
Supermarkets/Hypermarkets
Health & Wellness Stores
Specialty Stores
Pharmacies
Organic Hemp
Conventional Hemp
Households
Food Manufacturers
Cosmetic Brands
Nutraceutical Companies
Medical Professionals
US (United States, US and Mexico)
Europe (Germany, UK, France, Italy, Russia, Turkey, etc.)
Asia-Pacific (China, Japan, Korea, India, Australia, Indonesia, Thailand, Philippines, Malaysia and Vietnam)
South America (Brazil, Argentina, Columbia, etc.)
Middle East and Africa (Saudi Arabia, UAE, Egypt, Nigeria and South Africa)
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1. Introduction of the Global Hemp Oil Market
Overview of the Market
Scope of Report
Assumptions
2. Executive Summary
3. Research Methodology of Verified Market Reports
Data Mining
Validation
Primary Interviews
List of Data Sources
4. Global Hemp Oil Market Outlook
Overview
Market Dynamics
Drivers
Restraints
Opportunities
Porters Five Force Model
Value Chain Analysis
5. Global Hemp Oil Market, By Type
6. Global Hemp Oil Market, By Application
7. Global Hemp Oil Market, By Geography
US
Europe
Asia Pacific
Rest of the World
8. Global Hemp Oil Market Competitive Landscape
Overview
Company Market Ranking
Key Development Strategies
9. Company Profiles
10. Appendix
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