How Big Is the Hemp Oil Market | Forecast & Insights 2031

Q: What is the current size of the hemp oil market?

The hemp oil market was valued at USD 1.8 Billion in 2024 and is expected to reach USD 2.9 Billion by 2031,

Q: What is the growth rate of the hemp oil market?

The market is anticipated to grow at a CAGR of 11.7% between 2025 and 2031.

Q: Which products contribute the most to the hemp oil market?

CBD oil, cold-pressed hemp seed oil, and hemp-infused cosmetics are major contributors.

Q: What is driving demand in the hemp oil market?

Demand is driven by health and wellness trends, skincare applications, and regulatory support.

Q: What challenges does the hemp oil market face?

Challenges include regulatory uncertainties, lack of standardization, and competition from alternative oils.

Q: How does 6W market outlook report help businesses in making decisions?

6W monitors the market across 60+ countries Globally, publishing an annual market outlook report that analyses trends, key drivers, Size, Volume, Revenue, opportunities, and market segments. This report offers comprehensive insights, helping businesses understand market dynamics and make informed decisions.

Q: Do you also provide customisation in the market study?

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Code: MTA6142

Publication Date: Jul 2025

How big is the Hemp Oil Market?

According to 6Wresearch internal database and industry insights, the Global Hemp Oil Market was valued at USD 1.8 Billion in 2024 and is expected to reach USD 2.9 Billion by 2031, growing at a compound annual growth rate of 7.10% during the forecast period (2025-2031).

The market is witnessing robust growth, driven by increasing consumer interest in natural health remedies, rising use in personal care and cosmetics, and growing applications in food, nutraceuticals, and therapeutic products.

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Key Growth Drivers of the Hemp Oil Market

Increased understandings about hemp seed oil and CBD oil health effects
Larger incorporation of hemp oil in skin care, hair care and wellness products
Legalization of hemp production and CBD product entering
Increasing demand of plant-based supplements, edible oils
Increase in retail and electronic commerce as a delivery avenue of hemp oil

Hemp Oil Market Trends

The hemp oil market is seeing increasing consumer preference for cold-pressed, organic, and full-spectrum hemp oils. Companies are launching infused formulations combining hemp oil with essential oils, vitamins, and herbal extracts. There is rising demand for hemp oil in dietary supplements, therapeutic massage oils, and anti-inflammatory skincare products. Clean-label claims and sustainable sourcing are influencing product positioning.

Emerging Developments in the Hemp Oil Market

CO 2 and ethanol extraction are advancing in technology to enhance purity and efficiency. Businesses are extending to flavored edible oil, drinks, and health tinctures. The trend in the development of new products is also promising clarity of regulation in North America and in the European region. Studies on improved bioavailability and delivery to reach the target are accelerating innovations in nutraceutical usage.