Hemp Oil Market: Industry Analysis, Trend, Growth, Opportunity, Forecast 2020-2027
Global hemp oil market is set to witness a healthy CAGR of 35.87% in the forecast period of 2019- 2026. The report contains data of the base year 2018 and historic year 2017. Rising use of hemp oil in skin care products and rising awareness about the medical benefits of hemp oil are the factor for the growth of this market.
Hemp oil is usually derived by pressing the hemp seeds. Hemp seed oil, hemp essential oil and CBD oil are some of the common types of the hemp oil. This oil consists of required fatty acids, antioxidants and nutraceuticals. They are very beneficial for the health as they have the ability to provide relief from problems such as chronic pain, sleeping disorders, anxiety and others. They are also used for healing and massage treatments as well. These hemp oils are widely used in applications such as cosmetic products, food and beverages, pharma and nutraceuticals and others.
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In January 2019, HempMeds announced the launch of their new cannabidiol (CBD) product Real Scientific Hemp Oil (RSHO) Maximum Strength. This new product consists of both CBD and CBDa in a combination of the company’s premium hemp oil. The main aim of the launch is to provide safe, high quality and topical formulation to the customer who wants to seek benefits from the CBD
In May 2019, Curaleaf announced that they are going to acquire Cura Partners. This acquisition will help them to be the largest cannabis company in the U.S. and will help them to increase their revenue generation. This will also help the Curaleaf to expand them in the West coast and strengthen their position in the market
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Global hemp oil market is highly fragmented and the major players have used various strategies such as new product launches, expansions, agreements, joint ventures, partnerships, acquisitions, and others to increase their footprints in this market. The report includes market shares of hemp oil market for global, Europe, North America, Asia-Pacific, South America and Middle East & Africa.
Few of the major competitors currently working in the global hemp oil market are Isodiol International Inc, HempLife Today, Hemp Oil Canada Inc, Medical Marijuana, Inc., FOLIUM BIOSCIENCES, CV Sciences, Inc., Pharmahemp d.o.o., Gaia Botanicals, LLC, Canazil, Kazmira, Spring Creek Labs, Cavendish Nutrition Fulfillment LLC, Dr. Hemp Me., QC Infusion, Hemp Production Services, Hudson Valley Hemp, LLC., Green Roads, Royal CBD, Moon Mother Hemp Company, CBD Oil Europe, , King CBD Company and others.
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