Global Hemp Oil in Animal Feed Application Market – Industry Trends and Forecast to 2029

Hemp Oil in Animal Feed Application Market Analysis and Size

Research has demonstrated that hemp and marijuana-derived CBD oil plants have the ability to reduce anxiety and tension. When taken as a supplement, CBD oil has therapeutic advantages for neurological illnesses and conditions like depression, discomfort from the nerves, insomnia, and inflammatory pain. This has accelerated the use of CBD oil in the production of drugs used to treat anxiety and pain.

Global hemp oil in animal feed application market was valued at USD 16.1 million in 2021 and is expected to reach USD 99.08 million by 2029, registering a CAGR of 25.50% during the forecast period of 2022-2029. In addition to the insights on market scenarios such as market value, growth rate, segmentation, geographical coverage, and major players, the market reports curated by the Data Bridge Market Research also include in-depth expert analysis, geographically represented company-wise production and capacity, network layouts of distributors and partners, detailed and updated price trend analysis and deficit analysis of supply chain and demand.

Hemp Oil in Animal Feed Application Market Scope and Segmentation

Market Definition

Cannabis sativa plant varieties specifically bred for industrial purposes are known as hemp or industrial hemp. Hemp derivatives, including CBD, seed oil, and fibers, are made from hemp and have a variety of uses in the food and beverage, pharmaceutical, personal care, and animal feed industries, among others.   

Hemp Oil in Animal Feed Application Market Dynamics

This section deals with understanding the market drivers, advantages, opportunities, restraints and challenges. All of this is discussed in detail as below:

Drivers

• Rising population is a determinant

Growing livestock population all around the globe along with rising pet population is a positive sign for the market. Further, surging level of awareness in the individuals pertaining to improving the health and wellness of animals will yet again bolster the growth of the market. Rising number of zootomic diseases and infections in animals will further create lucrative opportunities.  

• Opportunities presented by e-commerce platforms  

Growing usage of hemp oil in the manufacture of lubricants, fuel, paints, and other industrial uses, as well as expanding adoption of hemp oil on the e-commerce platform, are all contributing to the market's expansion. Another factor anticipated to aid in the expansion of the target market is the rising demand for hemp oil on a global scale as a result of its widespread use in the food and beverage and personal care product industries.

Furthermore, the factors such as rising urbanization, industrialization and mounting number of animal feed manufactures are some other important market drivers. Additionally, growing support by the government on the promotion of hemp oil animal feed products and increasing per capita income are anticipated to drive the growth rate of the market.

Opportunities

• Growth and expansion

Growth and expansion of the animal feed industry especially in the developing economies will present very many opportunities for the growth of the market. Keeping up with advancements in manufacturing/ production technology may also be beneficial for the market as a whole.

Restraints/Challenges

• Misconceptions and unawareness

Lack of awareness about the medicinal benefits of hemp oil for both humans and animals especially in the underdeveloped and developing economies will derail the market growth rate. Also, misconceptions pertaining to the lack of standard regulations by the government is posing in a negative image of the market.

• Availability of substitutes

Easy availability of substitutes for hemp oil will yet again pose challenges for the market growth. Also, a large scale variety of animal feed products in the market will create hindrances in the long run. Products with organic ingredients are high in demand in the developed and developing economies. High costs of products will further impede the market growth rate.

This hemp oil in animal feed application market report provides details of new recent developments, trade regulations, import-export analysis, production analysis, value chain optimization, market share, impact of domestic and localized market players, analyses opportunities in terms of emerging revenue pockets, changes in market regulations, strategic market growth analysis, market size, category market growths, application niches and dominance, product approvals, product launches, geographic expansions, technological innovations in the market. To gain more info on the hemp oil in animal feed application market contact Data Bridge Market Research for an Analyst Brief, our team will help you take an informed market decision to achieve market growth.

Impact and Current Market Scenario of Raw Material Shortage and Shipping Delays

Data Bridge Market Research offers a high-level analysis of the market and delivers information by keeping in account the impact and current market environment of raw material shortage and shipping delays. This translates into assessing strategic possibilities, creating effective action plans, and assisting businesses in making important decisions.

Apart from the standard report, we also offer in-depth analysis of the procurement level from forecasted shipping delays, distributor mapping by region, commodity analysis, production analysis, price mapping trends, sourcing, category performance analysis, supply chain risk management solutions, advanced benchmarking, and other services for procurement and strategic support.

COVID-19 Impact on Hemp Oil in Animal Feed Application Market

The epidemic had a moderate impact on the market. The COVID-19 epidemic had impacted the supply chain process of animal feed in all the major economies owing to the lockdown and movement restrictions. Shutdown of manufacturing and production facilities further created hindrances for the growth of the market. However, post relaxations and growing awareness amid COVID-19 phase in regards to the medical benefits of hemp derivate have acted as a booster for the market.

Expected Impact of Economic Slowdown on the Pricing and Availability of Products

When economic activity slows, industries begin to suffer. The forecasted effects of the economic downturn on the pricing and accessibility of the products are taken into account in the market insight reports and intelligence services provided by DBMR. With this, our clients can typically keep one step ahead of their competitors, project their sales and revenue, and estimate their profit and loss expenditures.

Hemp Oil in Animal Feed Application Market Scope

The hemp oil in animal feed application market is segmented on the basis of product type, source and application. The growth amongst these segments will help you analyze meagre growth segments in the industries and provide the users with a valuable market overview and market insights to help them make strategic decisions for identifying core market applications.

Product Type

• CBD Oil
• Hemp Essential Oil
• Hemp Seed Oil

Source

• Organic
• Conventional

Application

• Personal Care Products
• Pharma and Nutraceuticals
• Food and Beverages
• Industrial Uses 

Hemp Oil in Animal Feed Application Market Regional Analysis/Insights

The hemp oil in animal feed application market is analyzed and market size insights and trends are provided by country, product type, source and application as referenced above.

The countries covered in the hemp oil in animal feed application market report are U.S., Canada and Mexico in North America, Brazil, Argentina and Rest of South America as part of South America, Germany, Italy, U.K., France, Spain, Netherlands, Belgium, Switzerland, Turkey, Russia, Rest of Europe in Europe, Japan, China, India, South Korea, Australia, Singapore, Malaysia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific (APAC) in the Asia-Pacific (APAC), Saudi Arabia, U.A.E, South Africa, Egypt, Israel, Rest of Middle East and Africa (MEA) as a part of Middle East and Africa (MEA).

North America is flourishing its dominance in the global hemp oil in animal feed application market due to factors the ageing infrastructure, high adoption of hemp oil-based personal care products and food and beverages and growing travel and tourism industry.  

Over the forecast period, Asia-Pacific is anticipated to have the greatest CAGR. The growth of the region is attributed to the increasing awareness about the medicinal benefits of hemp oil and growing number of animal feed producers in the market especially in India and China.

The country section of the report also provides individual market impacting factors and changes in regulation in the market domestically that impacts the current and future trends of the market. Data points like down-stream and upstream value chain analysis, technical trends and porter's five forces analysis, case studies are some of the pointers used to forecast the market scenario for individual countries. Also, the presence and availability of global brands and their challenges faced due to large or scarce competition from local and domestic brands, impact of domestic tariffs and trade routes are considered while providing forecast analysis of the country data.   

Competitive Landscape and Hemp Oil in Animal Feed Application Market Share Analysis

The hemp oil in animal feed application market competitive landscape provides details by competitor. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, global presence, production sites and facilities, production capacities, company strengths and weaknesses, product launch, product width and breadth, application dominance. The above data points provided are only related to the companies' focus related to hemp oil in animal feed application market.

Some of the major players operating in the hemp oil in animal feed application market are

• Aurora Cannabis Inc. (Canada)
• CV Sciences, Inc. (U.S.)
• ENDOCA. (Netherlands)
• Gaia Herbs (U.S.)
• Isodiol International Inc. (Canada)
• VIVO Cannabis Inc. (Canada)
• CannazALL (U.S.)
• Hemp Oil Canada. (Canada)
• Medical Marijuana, Inc. (U.S.)
• FOLIUM BIOSCIENCES (U.S.)
• PharmaHemp (Slovenia)
• KAZMIRA (U.S.)
• SPRING CREEK LABS (U.S.)
• Cavendish Nutrition LLC (U.S.)
• Dr Hemp Me (Ireland)
• QC Infusion (U.S.)
• Hemp Production Services (Canada)

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