Hemp Oil Market is anticipated to grow with a value CAGR of 35.1% over 2019-2028. According to a study published by Insure Insights on the Hemp Oil Market, Hemp oil is an oil obtained by pressing hemp seeds. Hemp oil helps in reducing fine lines and wrinkles and also prevent signs of aging from developing. The linoleic acid and oleic acids present in hemp oil plays a crucial role in skin health and anti-aging. The rise in the use of hemp oil in the production of fuel, paints and other uses have driven the market.

Top Driver: The rise in the awareness about the benefits of hemp oil will drive the market.

The Increasing adoption of hemp oil for nutraceutical and pharma purpose and increased awareness regarding the use of Hemp oil is the key reason for the market growth. Hemp Oil provide pain relief in case of chronic pain, nerve pain, and also helps in the treating anxiety and sleep disorders. The wide availability of hemp oil on e- commerce platform have positively impacted the market growth.

Hemp Seed Oil have obtained the highest growth in the Global Hemp Oil Market

Based on Type, the Hemp Seed Oil segment have held the most significant growth. The benefits obtained by Hemp Seed Oil are Hormone Balance, promoted weight loss, Boosts immune and have various anti-inflammatory properties, these are the key reason for the segment growth. However, the Hemp CBD Oil segment is expected to rise as the fastest growing market owing to its therapeutic and Neuroprotective properties etc.

  Based on Application, Pharmaceutical and Nutraceutical segment have held in the lucrative share as it contains poly unsaturated fatty acids, protein, omega3, omega 6 etc. These factors have primarily boosted the segment.

 North America to rule the Regional Market due to the rise in the demand for Hemp Oi in End Use sector

The rise, in the demand for Hemp Oil in the End Use sectors have primarily improved the market of North America, the relaxed regulation by the government regarding the use of Hemp Oil have significantly boosted the market growth in the region. The rise in the occurrence of disease causing pain and inflammation and increase in the awareness about the benefits of Hemp oil have further improved the regional market. Asia Pacific region is projected to growth at a faster rate owing to the growth in the demand for improved healthcare infrastructure and rise in the demand for Hemp Oil in the treatment of various ailments have further improved the regional market share.

Product Launches, and signing merger and acquisition deals  are the strategies of the competitors

The Competitors are focusing on developing new technologies for enhancing the treatment capabilities, product launches, and signing merger and acquisition deals. The major competitors of the Hemp Oil Market are Isodiol International Inc., HempLife Today, Hemp Oil Canada Inc., Medical Marijuana, Inc., CV Sciences, Inc., FOLIUM BIOSCIENCES, Pharmahemp d.o.o., Gaia Botanicals, LLC, Canazil, and Spring Creek Labs

FOLIUM BIOSCIENCES: FOLIUM BIOSCIENCES, is the leading competitor of the Hemp Oil Market. In March 2019, FOLIUM BIOSCIENCES, had announced the acquisition of FeyeCon Development and Implementation, BV and FeyeCon, BV., the acquisition was made to expand its portfolio with different cannabis products.

Isodiol International Inc.: Isodiol International Inc., is one of the popular competitor of the Hemp Oil Market. In December 2018, Isodiol International Inc. had announced the acquisition of Food Labs, Inc.., the deal was made for USD 12 million. The acquisition was made to expand its portfolio.

Scope of the Report

By Type

• Hemp Seed Oil
• Hemp CBD Oil
• Hemp Essential Oil

By Application

• Pharmaceutical and Nutraceutical
• Personal Care
• Industrial Uses
• Food and Beverages

By Region

• North America
• Europe
• Asia Pacific
• LAMEA

Key Reasons to Purchase this Report

1. It provides a technological development map over time to understand the growth rate of the industry.
2. The report offers a dynamic method to various factors that drive or restrain the growth of the market.
3. It renders definite analysis for changing competitive dynamics.
4. It builds a seven-year estimate based on how the market is predicted to grow.