The global Hemp Oil in Animal Feed Application Market research report 2029, as published by Data bridge Market Research, provides insights into the current global outlook and key regions, examining Major Players, Countries, Product Types, and end industries. It focuses on top players in the global market and categorizes the market based on several parameters.
This Hemp Oil in Animal Feed Application market research report identifies the competitive landscape of industries, offering a comprehensive understanding of international competition. The study outlines the anticipated growth of the global market during forecast period. Compiled with a blend of static and dynamic perspectives, this research report captures the essence of the businesses views.
Global hemp oil in animal feed application market was valued at USD 16.1 million in 2021 and is expected to reach USD 99.08 million by 2029, registering a CAGR of 25.50% during the forecast period of 2022-2029.
Top Companies in the Global Hemp Oil in Animal Feed Application Market:
Aurora Cannabis Inc. (Canada), CV Sciences, Inc. (U.S.), ENDOCA. (Netherlands), Gaia Herbs (U.S.), Isodiol International Inc. (Canada), VIVO Cannabis Inc. (Canada), CannazALL (U.S.), Hemp Oil Canada. (Canada), Medical Marijuana, Inc. (U.S.), FOLIUM BIOSCIENCES (U.S.), PharmaHemp (Slovenia), KAZMIRA (U.S.), SPRING CREEK LABS (U.S.), Cavendish Nutrition LLC (U.S.), Dr Hemp Me (Ireland), QC Infusion (U.S.), among others.
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Market Segmentation:
The hemp oil in animal feed application market is segmented on the basis of product type, source and application. The growth amongst these segments will help you analyze meagre growth segments in the industries and provide the users with a valuable market overview and market insights to help them make strategic decisions for identifying core market applications.
Product Type
- CBD Oil
- Hemp Essential Oil
- Hemp Seed Oil
Source
- Organic
- Conventional
Application
- Personal Care Products
- Pharma and Nutraceuticals
- Food and Beverages
- Industrial Uses
Geographically, the detailed analysis of consumption, revenue, market share, and growth rate of the following regions:
– Middle East and Africa (South Africa, Saudi Arabia, UAE, Israel, Egypt, etc.)
– North America (United States, Mexico & Canada)
– South America (Brazil, Venezuela, Argentina, Ecuador, Peru, Colombia, etc.)
– Europe (Turkey, Spain, Turkey, Netherlands Denmark, Belgium, Switzerland, Germany, Russia UK, Italy, France, etc.)
– Asia-Pacific (Taiwan, Hong Kong, Singapore, Vietnam, China, Malaysia, Japan, Philippines, Korea, Thailand, India, Indonesia, and Australia).
North America is flourishing its dominance in the global hemp oil in animal feed application market due to factors the ageing infrastructure, high adoption of hemp oil-based personal care products and food and beverages and growing travel and tourism industry.
Over the forecast period, Asia-Pacific is anticipated to have the greatest CAGR. The growth of the region is attributed to the increasing awareness about the medicinal benefits of hemp oil and growing number of animal feed producers in the market especially in India and China.
The country section of the report also provides individual market impacting factors and changes in regulation in the market domestically that impacts the current and future trends of the market. Data points like down-stream and upstream value chain analysis, technical trends and porter's five forces analysis, case studies are some of the pointers used to forecast the market scenario for individual countries. Also, the presence and availability of global brands and their challenges faced due to large or scarce competition from local and domestic brands, impact of domestic tariffs and trade routes are considered while providing forecast analysis of the country data.
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Market Dynamics
This section deals with understanding the market drivers, advantages, opportunities, restraints and challenges. All of this is discussed in detail as below:
Drivers
- Rising population is a determinant
Growing livestock population all around the globe along with rising pet population is a positive sign for the market. Further, surging level of awareness in the individuals pertaining to improving the health and wellness of animals will yet again bolster the growth of the market. Rising number of zootomic diseases and infections in animals will further create lucrative opportunities.
- Opportunities presented by e-commerce platforms
Growing usage of hemp oil in the manufacture of lubricants, fuel, paints, and other industrial uses, as well as expanding adoption of hemp oil on the e-commerce platform, are all contributing to the market's expansion. Another factor anticipated to aid in the expansion of the target market is the rising demand for hemp oil on a global scale as a result of its widespread use in the food and beverage and personal care product industries.
Furthermore, the factors such as rising urbanization, industrialization and mounting number of animal feed manufactures are some other important market drivers. Additionally, growing support by the government on the promotion of hemp oil animal feed products and increasing per capita income are anticipated to drive the growth rate of the market.
Opportunities
- Growth and expansion
Growth and expansion of the animal feed industry especially in the developing economies will present very many opportunities for the growth of the market. Keeping up with advancements in manufacturing/ production technology may also be beneficial for the market as a whole.
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