The global hemp seed oil market is expected to reach a market valuation of USD 104 million in the year 2023. The global market value for hemp seed oil grew at a CAGR of roughly 5.3 percent over the last half-decade. Meanwhile, over the forecast period of 2023 to 2033, demand for hemp seed oil is expected to expand at a CAGR of roughly 19%.
Hemp seeds are high in protein, minerals, and fiber, making them the most nutritious natural foods available on the market. Also, they contain significant levels of vitamins A, C, and E, making them excellent elements for human health. Hemp seed provides an optimum ratio of omega-6 to omega-3 fatty acids, and certain chemicals that assist regulate high blood pressure, according to a 2014 study from the University of Seville in Spain.
| Report Attributes or Data Points | Details |
|---|---|
| Global Hemp Seed Oil Market Valuation in 2022 | USD 100.4 million |
| Estimated Global Market Share in 2023 | USD 104 million |
| Forecasted Global Market Size by 2033 | USD 617.1 million |
| Projected Global Market Growth Rate from 2023 to 2033 | 19% CAGR |
| Historical Market Growth Rate from 2018 to 2022 | 5.3% CAGR |
| Market Share of Top 3 Countries | 33.2% |
Exclusive Offer: 30% Off on Regional Reports
Get a free sample report and customize your regions for a 30% discount on your regional report!
Hemp seed oil is becoming increasingly popular due to its high omega-3and omega-6 content, which have several health benefits. Additionally, Hemp seed oil helps to reduce inflammation, which can cause heart disease and cancer. As people become increasingly aware of the various health benefits of hemp seed oil, it is being utilized in cooking oils, sauces and salad oils, baked foods, and nutritional supplements.
The hemp seed oil is increasingly being used in the pharmaceutical, nutraceutical, and cosmetics industries, which bodes well for the industry in the coming years. Further, it has also found applications in the pet care business, green building materials, and biofuel markets.
Over the last few years, hemp-based medicine has seen substantial expansion. The segment's rise is fueled by the growing popularity of refined CBD products and their many medical applications.
Hemp oil, unlike other psychological medications, does not affect a person's mental state yet provides therapeutic benefits such as stress alleviation. Also, the rising prevalence of depression among the population is likely to boost the market growth.
The growing acceptance of hemp oil in treating ailments, and the legalization of cannabinoid plant-derived products in several countries, is predicted to fuel the hemp seed oil market forward. Furthermore, the market for hemp oil is being strengthened by a preference for preventive healthcare and the vast range of applications for hemp oil.
Hemp-delrived CBD is increasingly becoming popular due to its anti-inflammatory and antioxidant qualities. Furthermore; pharmaceutical companies are working on CBD-derived products for medical use. As a result of the aforementioned factors, this category is expected to develop at a significant rate throughout the projected period.
The market value of hemp seed oil in the North American region is USD 32.5 million accounting for 38% of global market value, with the United States holding a market share of 65 percent in the region. Further, there are a few factors driving market expansion in the United States includes:
The market is being boosted by a significant presence of companies in the United States, as well as increased research and development efforts and applications across numerous indications such as stress, anxiety, and depression.
| Regional Market Comparison | Global Market Share in Percentage |
|---|---|
| The United States | 33.4% |
| Germany | 7.1% |
| Japan | 3% |
| Australia | 3.4% |
Hemp seed oil does not contain any psychotropic chemical compounds. It is deemed safe for use in products aimed at newborns, children, and pregnant women. Because the oil does not cause intoxication, it is acceptable for usage in Islamic nations and also adheres to kosher dietary laws. The overall market is primarily driven by this factor.
The hemp seed oil is USDA recognized for its organic properties, in addition to halal and kosher certifications. The majority of processing plants on the market are equipped with cutting-edge technology and are ISO 22000:2005 certified by the German TUV and other regulatory authorities. In the next years, these factors are projected to boost the growth of the hemp seed oil industry.
| Regional Markets | CAGR (2023 to 2033) |
|---|---|
| The United Kingdom | 18.9% |
| China | 20.2% |
| India | 22.4% |
Europe’s market is expected to develop significantly in the next years. Consumers are becoming aware of the nutritional advantages of organic hemp seed products, which have resulted in their widespread adoption into their daily diet. Further, rising health consciousness among consumers, particularly among the young generation, has resulted in increased consumption of organic hemp seed products, propelling regional market expansion.
The whole hemp sector is expected to lead the market and continue to do so during the projection years, with the stable nature (in terms of denaturation and oxidative stability) in the air than hulled seed. In addition, the whole hemp contains rare insoluble fiber and is a good source of nutrients. The hull can be used to remove toxins from the bowel and cleanse the colon gently.
The high nutritional profile has made hemp seed oil widely employed in the food and beverage industries globally. This segment took 65.5% of the market in 2022. Hemp seed oil can be added to multiple foods, including smoothies and breakfast toppings. Salad dressings, margarine, milk, and granola bars are just a few foods that contain seed oil. Additionally, they are also employed in the production of beer and baking flour.
| Category | By Extraction Type |
|---|---|
| Top Segment | Cold Pressed |
| Market Share in Percentage | 80.2% |
| Category | By Nature |
|---|---|
| Top Segment | Conventional |
| Market Share in Percentage | 83.3% |
| Category | By End Use Application |
|---|---|
| Top Segment | Food & Beverages |
| Market Share in Percentage | 65.5% |
Check Free Sample Report & Save 40%!
Select your niche segments and personalize your insights for smart savings. Cut costs now!
Many established firms are present in the hemp seed oil sector. As the market is still in its early stages of development, it offers intriguing chances for new businesses to participate. Moreover, to obtain a competitive advantage, industry leaders are utilizing multiple organic and inorganic techniques.
Offering certified organic products is one of the fundamental strategies used by the key players in the market. Aside from that, many vendors are putting a great emphasis on clean-label promises.
Some of the key players operating in the market are Nutiva Inc., Canopy Growth Corporation, Connolis LLC, Maverik oils, NP Nutra, Hemp oil, Agropro, Canah International SRL, Z- Company, Ecofiber Limited, 13 Seeds Hemp Farm, Elixinol Global Limited, BOHECO.
| Attribute | Details |
|---|---|
| Forecast Period | 2023 to 2033 |
| Historical Data Available for | 2018 to 2022 |
| Market Analysis | USD million or USD billion for Value and million. Sq. M. for Volume |
| Key Countries Covered | The United States, Brazil, Mexico, Germany, The United Kingdom, China, India, Japan, Australia, and GCC Countries |
| Key Segments Covered | Product Type, Grade, Extraction Process, End-use and Region |
| Key Companies Profiled | Nutiva Inc.; Canopy Growth Corporation; Connolis LLC; Maverik oils; NP Nutra; Hemp oil; Agropro; Canah International SRL; Z- Company; Ecofiber Limited; 13 Seeds Hemp Farm; Elixinol Global Limited; BOHECO. |
| Report Coverage | Market Forecast, Company Share Analysis, Competition Intelligence, DROT Analysis, Market Dynamics and Challenges, and Strategic Growth Initiatives |
| Customization & Pricing | Available upon Request |
The projected revenue of the market by 2033 is USD 617.1 million.
The market CAGR for 2033 is projected to be 19%.
Nutiva Inc., Canopy Growth Corporation, and Manitoba Harvest are the three key market players.
The market is estimated to secure a valuation of USD 104 million in 2023.
North America is growing fast due to the increasing demand for its health benefits.
| Market Size (2023) | USD 254.60 million |
|---|---|
| Market Size (2033) | USD 254.60 million |
| Market CAGR (2023 to 2033) | 7.7% |
| market Estimated Value (2023E) | USD 12,132.9 million |
|---|---|
| Projected Market Value (2033F) | USD 30,996.9 million |
| Value-based CAGR (2023 to 2033) | 9.8% |
Explore Convenience Food Insights
View Reports
Hemp Seed Oil Market
Thank you!
You will receive an email from our Business Development Manager. Please be sure to check your SPAM/JUNK folder too.
