Hemp Seed Oil Market Size - Industry Analysis Report, Regional Outlook, Growth Potential, Competitive Market Share & Forecast, 2024 – 2032

Hemp Seed Oil Market Size

Hemp Seed Oil Market size is poised to record a lucrative CAGR from 2024 to 2032, owing to the rising awareness among consumers regarding the health benefits of nutraceuticals to reduce illnesses and maintain health.
 

As per the NCBI, by 2050 a minimum of 142.66 million people will have at least one chronic disease compared to the 71.522 million in 2020. The preference for high-quality nutraceutical supplements owing to the benefits of disease prevention and reducing the negative impacts of stressful & hectic lifestyles is likely to boost the product demand. The omega-3 fatty acids that are abundantly present in hemp seed oil can help lower blood pressure in individuals with hypertension along with providing therapeutic support in various chronic diseases.
 

Hemp Seed Oil Market Trend

The hemp seed oil industry is witnessing notable trends amid growing consumer interest in natural health and wellness products. The expanding legalization of hemp cultivation and the recognition of its nutritional benefits are favoring product usage as a versatile ingredient in food, cosmetics, and pharmaceuticals. Moreover, there is sustainability and eco-friendliness associated with hemp cultivation. The technological advancements in extraction methods are improving the quality and purity of hemp seed oil products. These trends, alongside the increasing R&D efforts for uncovering new applications and health benefits will shape the future market outlook.
 

Hemp Seed Oil Market Analysis

The cosmetics & personal care segment is expected to witness substantial growth through 2032, as hemp seed oil nourishes & regenerates the skin. It finds applications in skin moisturizers and anti-aging products to reduce lines & wrinkles. The increasing consumer attention toward self-care, along with the rising demand for anti-aging products is anticipated to fuel the demand for hemp seed oil. Additionally, the development of new products by market players, along with social media influence is driving the sale of personal care & cosmetic products.
 

Based on product, the market from the cold pressed oil segment is predicted to witness substantial growth by 2032, due to the high nutritional value as the cold pressed method retains the essential properties of hemp seed oil. It is an excellent source of nutrition & protein with a mild nutty flavor. It can be used to add an extra vitality to various food products and is a great addition to hair & skin care products owing to its hydrating & anti-aging properties. The increasing demand for plant-derived healthy ingredients for food & beverage applications is set to drive the market revenue.
 

North America hemp seed oil market will grow substantially till 2032, owing to the increasing demand for health supplements. Rise in cases if lifestyle diseases along with the growing cognizance of health supplements is slated to fuel the demand for hemp seed oil in nutraceutical applications. The increased consumer awareness about preventive healthcare along with the growing ageing population in the region is estimated to propel the market demand in dietary supplement applications. Consumers are showing high interest in clean label and sustainable ingredients in dietary supplements, cosmetics & personal care items, and food & beverage products; this is likely to accelerate the industry growth.
 

Hemp Seed Oil Market Share

The hemp seed oil industry is competitive and includes various companies such as:

• NP Nutra
• Sky Organics
• Nutiva Inc.
• Connoills LLC
• Manitoba Harvest
• Velona
• Z-COMPANY
• Bioriginal Food & Science Corp
• Live Verdure Ltd
• Bombay Hemp Company

Manufacturers are adopting key business strategies such as product launches as well as mergers & acquisitions to strengthen their market positions.
 

Hemp Seed Oil Industry News

• In February 2024, Bioriginal Food & Science Corp. (Bioriginal), a subsidiary of Cooke Inc., completed the acquisition of POS Biosciences Corp. (POS) in Saskatoon from Canopy Growth Corp. With this acquisition, Bioriginal will assume the role of POS's primary vendor and customer. This transaction grants Bioriginal access to POS's cutting-edge oil processing, concentration, and molecular distillation facility, specialized in producing high-value oils and proteins.

What Information does this report contain?