U.S. Hemp Oil Market, By Products (Hemp Seed Oil, CBD Oil, and Hemp Flower Oil), Type (Original, and Blended), Source (Organic and Inorganic), Component (Hemp Seed Oil, and Hemp CBD Oil), Extraction Process (Cold Pressed Hemp Seed Oil, and Refined Hemp Seed Oil), Grade (Food Grade, and Pharmaceutical Grade), Distribution Channel (Direct and Indirect), Application (Food and Beverages, Personal Care/Cosmetics, Pharma and Nutraceuticals, Industrial Application, Agriculture, Animal Feed, and Others) – Industry Trends and Forecast to 2031.
U.S. Hemp Oil Market Analysis and Size
In the hemp oil market, the benefits and uses are diverse. Renowned for its therapeutic properties, hemp oil offers relief from pain, anxiety, and inflammation. Its versatility extends to skincare, promoting healthier skin. With its nutritional value, it's also a popular dietary supplement, fostering overall wellness.
Data Bridge Market Research analyses that the U.S. hemp oil market, which was USD 1,898.01 thousand in 2023, is expected to reach USD 12,683.86 thousand by 2031, at a CAGR of 26.8% during the forecast period 2024 to 2031. 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.
Report Scope and Market Segmentation
|
Report Metric
|
Details
|
|
Forecast Period
|
2024 to 2031
|
|
Base Year
|
2023
|
|
Historic Years
|
2022 (Customizable to 2016 - 2021)
|
|
Quantitative Units
|
Revenue in USD Thousand, Volumes in Units, Pricing in USD
|
|
Segments Covered
|
Products (Hemp Seed Oil, CBD Oil, and Hemp Flower Oil), Type (Original and Blended), Source (Organic and Inorganic), Component (Hemp Seed Oil and Hemp CBD Oil), Extraction Process (Cold Pressed Hemp Seed Oil, and Refined Hemp Seed Oil), Grade (Food Grade, and Pharmaceutical Grade), Distribution Channel (Direct and Indirect), Application (Food and Beverages, Personal Care/Cosmetics, Pharma and Nutraceuticals, Industrial Application, Agriculture, Animal Feed, and Others)
|
|
Market Players Covered
|
Nutiva Inc. (U.S.), Canopy Growth Corporation (Canada), Connolis LLC (U.S.), Maverik Oils (U.S.), NP Nutra (U.S.), Agropro (Austria), Canah International SRL (Romania), Ecofiber Limited (Australia), 13 Seeds Hemp Farm (Australia), Elixinol Wellness Limited (Australia), BOHECO (India), Manitoba Harvest (Canada), Sky Organics (U.S.), Velona (Sri Lanka), Live Verdure Ltd. (13 Seeds) (Australia), BOMBAY HEMP COMPANY PVT. LTD. (BOHECO) India), and Bioriginal Food & Science Corp (Canada)
|
|
Market Opportunities
|
|
Market Definition
Hemp oil, derived from the hemp plant seeds, is rich in nutrients such as omega-3 and omega-6 fatty acids, vitamins, and minerals. It is commonly used in cooking, skincare products, and supplements due to its potential health benefits, including improving skin health, reducing inflammation, and supporting heart health.
U.S. Hemp Oil Market Dynamics
Drivers
- Shift Towards Natural and Organic Products
Consumer preference for natural and organic products is fueling demand for hemp oil, a sustainable alternative to synthetic ingredients. Its eco-friendly profile aligns with rising environmental consciousness. This trend propels hemp oil's popularity across various industries, meeting consumer expectations for healthier, environmentally responsible choices in skincare, supplements, and food products.
- Rising Demand in Wellness and Personal Care Industries
Hemp oil is increasingly sought after in the wellness and personal care sectors for its moisturizing, anti-inflammatory, and antioxidant qualities. This surge in demand propels the creation of hemp oil-infused skincare, haircare, and bath products as consumers embrace natural solutions for enhanced health and beauty routines.
Opportunities
- Advancements in Extraction Technologies
Technological advancements in hemp oil extraction enhance quality, purity, and yield, boosting commercial viability. These innovations drive cost-effectiveness for manufacturers, facilitating broader market penetration and meeting rising consumer demand. Improved extraction methods ensure higher-quality products, fueling growth in the hemp oil industry and supporting its integration into various sectors.
- Expansion of Distribution Channels
The hemp oil market is benefiting from the proliferation of online retail channels and the entrance of mainstream retailers. This expansion significantly broadens the accessibility and availability of hemp oil products, allowing them to reach a wider audience of consumers seeking natural and wellness-oriented solutions for their health and skincare needs.
Restraints/Challenges
- Issues in Quality Control
Ensuring consistent quality and potency of hemp oil is hindered by diverse cultivation methods, extraction techniques, and a lack of standardized testing protocols. These variations pose challenges in maintaining product reliability and may undermine consumer trust in the market's offerings.
- International Trade Restrictions
International trade restrictions, stemming from variations in regulations and trade policies across countries, pose significant barriers to importing and exporting hemp oil products. These inconsistencies hinder market expansion by creating logistical challenges and limiting the industry's global reach.
This U.S. hemp oil 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 U.S. hemp oil market contact Data Bridge Market Research for an Analyst Brief, our team will help you take an informed market decision to achieve market growth.
Recent Development
- In March 2021, Yooma Wellness Inc., a distributor and marketer of hemp-derived wellness products, acquired Socati Corp. to broaden its geographic presence. The move aims to strengthen the company's market position and expand its reach in the hemp and cannabinoid wellness sector
- In April 2020, QEMP launched qemp ZERO, a THC-free pure hemp seed oil infused with organic herbs. The product offers various benefits including non-GMO, vegan, and antioxidant support, catering to health-conscious consumers seeking natural wellness solutions
- In February 2020, Linwoods launched MULTIBOOST, an organic line of milled hemp seed mixes designed to enhance nutritional health. Available in four flavors, these mixes contain hemp seeds, flax, chia seeds, mulberries, and mixed nuts, providing versatile options for incorporating essential nutrients into everyday diets
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.
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.
U.S. Hemp Oil Market Scope
The U.S. hemp oil market is segmented on the basis of products, type, source, component, extraction process, grade, distribution channel, 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.
Products
- Hemp Seed Oil
- CBD Oil
- Hemp Flower Oil
Type
- Original
- Blended
Source
- Organic
- Inorganic
Component
- Hemp Seed Oil
- Hemp CBD Oil
Extraction Process
- Cold Pressed Hemp Seed Oil
- Refined Hemp Seed Oil
Grade
- Food Grade
- Pharmaceutical Grade
Distribution Channel
- Direct
- Indirect
Application
- Food and Beverages
- Personal Care/Cosmetics
- Pharma and Nutraceuticals
- Industrial Application
- Agriculture
- Animal Feed
- Others
Competitive Landscape and U.S. Hemp Oil Market Share Analysis
The U.S. hemp oil 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 the market.
Some of the major players operating in the U.S. hemp oil market are:
- Nutiva Inc. (U.S.)
- Canopy Growth Corporation (Canada)
- Connolis LLC (U.S.)
- Maverik Oils (U.S.)
- NP Nutra (U.S.)
- Agropro (Austria)
- Canah International SRL (Romania)
- Ecofiber Limited (Australia)
- 13 Seeds Hemp Farm (Australia)
- Elixinol Wellness Limited (Australia)
- BOHECO (India)
- Manitoba Harvest (Canada)
- Sky Organics (U.S.)
- Velona (Sri Lanka)
- Live Verdure Ltd. (13 Seeds) (Australia)
- BOMBAY HEMP COMPANY PVT. LTD. (BOHECO) (India)
- Bioriginal Food & Science Corp (Canada)
SKU-