Hemp Oil Market Size, Share, Industry Trends and Forecast to 2033
This report provides a comprehensive analysis of the Hemp Oil market from 2023 to 2033, detailing market size, trends, and forecasts. Insights into segmentation, regional performance, and significant industry players are also included.
| Metric | Value |
|---|---|
| Study Period | 2023 - 2033 |
| 2023 Market Size | $2.30 Billion |
| CAGR (2023-2033) | 8.0% |
| 2033 Market Size | $5.08 Billion |
| Top Companies | Nutiva, Inc., Charlotte's Web Holdings, Inc., Canopy Growth Corporation |
| Last Modified Date | 02 March 2025 |
Hemp Oil Market Report (2023 - 2033)
Hemp Oil Market Overview
What is the Market Size & CAGR of Hemp Oil market in 2023?
Hemp Oil Industry Analysis
Hemp Oil Market Segmentation and Scope
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Hemp Oil Market Analysis Report by Region
Europe Hemp Oil Market Report:
The European market is estimated to be $0.60 billion in 2023, anticipated to reach $1.32 billion by 2033. Increasing adoption of hemp-derived products in beauty and wellness is significant in this growth trajectory.Asia Pacific Hemp Oil Market Report:
The Asia Pacific region is valued at approximately $0.45 billion in 2023 and is expected to grow to around $0.99 billion by 2033, driven by increasing consumer awareness and a shift towards natural health products.North America Hemp Oil Market Report:
North America holds a substantial share of the market, with a size of $0.84 billion in 2023 and projected growth to $1.86 billion by 2033. Legalization of hemp on various states has empowered product launch and market expansion.South America Hemp Oil Market Report:
In South America, the market is currently valued at $0.18 billion in 2023, with an expected increase to $0.40 billion in 2033. Growing research and development in hemp cultivation practices are boosting market growth.Middle East & Africa Hemp Oil Market Report:
In the Middle East and Africa, the market is valued at $0.23 billion in 2023, expecting to grow to $0.51 billion by 2033, as ongoing regulatory changes promote hemp cultivation and utilization.Request a custom research report for industry.
Hemp Oil Market Analysis By Product
Global Hemp Oil Market, By Product Market Analysis (2024 - 2033)
The market is segmented into: Liquid (current size of $1.57 billion in 2023 to $3.48 billion by 2033), Capsules ($0.57 billion to $1.26 billion), Topical ($0.16 billion to $0.34 billion), and Seed Oil which forms the largest with $1.99 billion in 2023 projected to grow to $4.39 billion. These product types reflect varying consumer preferences, with Seed Oil leading due to its health benefits.
Hemp Oil Market Analysis By Application
Global Hemp Oil Market, By Application Market Analysis (2024 - 2033)
Applications include Food Industry, Personal Care, Healthcare, and Other Industries. The Food Industry holds the largest share at $1.23 billion in 2023 to $2.72 billion by 2033, while Personal Care shows a strong potential growing from $0.51 billion to $1.13 billion. These applications highlight the adaptability of hemp oil across multiple sectors.
Hemp Oil Market Analysis By Distribution Channel
Global Hemp Oil Market, By Distribution Channel Market Analysis (2024 - 2033)
Distribution is categorized into Online and Offline channels, with Online sales dominating at $1.99 billion in 2023 expected to double by 2033. The trend reflects consumer preference for convenient shopping and direct access to specialist products.
Hemp Oil Market Analysis By End User
Global Hemp Oil Market, By End-User Industry Market Analysis (2024 - 2033)
Key end-users include the Food and Beverage industry, Cosmetics, and Pharmaceuticals. The Food and Beverage sector is the largest, reaching $1.57 billion in 2023 and projected to grow to $3.48 billion by 2033. Growing dietary trends favoring natural ingredients bolster this segment.
Hemp Oil Market Analysis By Form
Global Hemp Oil Market, By Form Market Analysis (2024 - 2033)
Forms of Hemp Oil available in the market include Liquid, Capsules, and Topicals. Liquid forms dominate the market, making up over 68.36% of the total share in 2023, and continue to do so through 2033. This segment's performance is driven by consumer preferences for versatile product usage.
Hemp Oil Market Trends and Future Forecast
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Global Market Leaders and Top Companies in Hemp Oil Industry
Nutiva, Inc.:
An organic food company producing high-quality hemp oil and other hemp products, Nutiva plays a significant role in driving market awareness and sales in North America.Charlotte's Web Holdings, Inc.:
Famous for its CBD products, Charlotte's Web also offers a variety of hemp oil products, providing education and consumer engagement surrounding hemp health benefits.Canopy Growth Corporation:
A major player in the cannabis industry, Canopy Growth has expanded its product range to include hemp oil, benefitting from its extensive distribution network.We're grateful to work with incredible clients.
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FAQs
What is the market size of hemp Oil?
The global hemp-oil market is valued at approximately $2.3 billion in 2023 and is projected to grow at a CAGR of 8.0%, reaching significant expansion by 2033.
What are the key market players or companies in the hemp Oil industry?
Key players in the hemp-oil market include companies engaged in producing, processing, and selling hemp oil products across various segments such as food, cosmetics, and pharmaceuticals.
What are the primary factors driving the growth in the hemp Oil industry?
Growth drivers include increasing awareness of health benefits, rising demand for natural products, and expanding applications in food, personal care, and healthcare sectors.
Which region is the fastest Growing in the hemp Oil market?
Asia Pacific is the fastest-growing region, with the market expected to grow from $0.45 billion in 2023 to $0.99 billion in 2033, significantly contributing to overall market expansion.
Does ConsaInsights provide customized market report data for the hemp Oil industry?
Yes, ConsaInsights offers customized market report data tailored to specific needs, providing in-depth insights into trends, forecasts, and competitive analysis in the hemp-oil sector.
What deliverables can I expect from this hemp Oil market research project?
Expect comprehensive reports detailing market size, segment analysis, trends, forecasts, and strategic recommendations in the hemp-oil market.
What are the market trends of hemp Oil?
Key trends include growing consumer preference for sustainable products, innovations in extraction techniques, and increasing incorporation of hemp-oil in food, beauty, and wellness products.