The Global Industrial Hemp Market report is structured with the meticulous efforts of innovative, enthusiastic, knowledgeable, and experienced team of analysts, researchers, industry experts, and forecasters. This market analysis report also offers an in-depth overview of product specification, technology, and product type and production analysis considering major factors such as revenue, cost, and gross margin. Two of these major tools of market analysis are SWOT analysis and Porter's Five Forces Analysis. The first class Global Industrial Hemp Market report is generated with a nice combination of advanced industry insights, practical solutions, talent solutions and the use of latest technology which gives an excellent user experience.
Market Analysis and Size
There has been increasing demand for biodegradable and renewable natural materials in various consumer products across the globe. The products in the global industrial hemp market are considered to be highly eco-friendly, less harmful and even renewable. Owing to its ecologically friendly character, this has prompted players in a variety of end-use industry verticals to choose goods from the global industrial hemp market, which is projected to aid the market growth. The industrial hemp market is projected to show immense growth over the forecasted period.
Global industrial hemp market was valued at USD 4.6 billion in 2021 and is expected to reach USD 30.9 billion by 2029, registering a CAGR of 21.02% during the forecast period of 2022-2029.
The “Hemp fiber” accounts for the largest type segment in the industrial hemp market within the forecasted period owing to its usage to obtain biofuels and bioplastics. The market report curated by the Data Bridge Market Research team includes in-depth expert analysis, import/export analysis, pricing analysis, production consumption analysis, and patent analysis.
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Global Industrial Hemp Market Scope
The industrial hemp market is segmented on the basis of type, application and source. 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.
- Hemp Seed
- Hemp Seed Oil
- CBD Hemp Oil
- Hemp Fiber
On the basis of type, the industrial hemp market is segmented into hemp seed, hemp seed oil, CBD hemp oil and hemp fiber. Hemp fiber registers highest growth within the forecasted period owing to its usage to obtain biofuels and bioplastics.
- Personal Care Products
On the basis of application, the industrial hemp market is segmented into food, textiles, beverages, personal care products, pharmaceuticals and others.
On the basis of source, the industrial hemp market is segmented into conventional and organic.
Some of the major players operating in the industrial hemp market are Nhempco (Canada), Ecofibre (Australia), Hemp Inc. (US), GenCanna (US), HempFlax Group B.V., (Netherlands), Konoplex (Russia), Hemp Oil Canada (Canada), Hemp Poland (Poland), Dun Agro (Netherlands), Colorado Hemp Works (US), Canah International (Romania), South Hemp Tecno (Italy), Plains Industrial Hemp Processing (Canada), and MH Medical Hemp (Germany), among others.
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