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Global Industrial Hemp Market Size

Global Industrial Hemp Market size was valued at USD 4.2 billion in 2021 and is poised to grow from USD 4.74 billion in 2022 to USD 16.75 billion by 2030, growing at a CAGR of 17.1% in the forecast period (2023-2030).

Swetachakraborty
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Global Industrial Hemp Market Size

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  1. Global Industrial Hemp Market Size, Share, Growth Analysis, By Type By Application- Industry Forecast 2023-2030 Global Industrial Hemp Market size was valued at USD 4.2 billion in 2021 and is poised to grow from USD 4.74 billion in 2022 to USD 16.75 billion by 2030, growing at a CAGR of 17.1% in the forecast period (2023-2030). The global demand for industrial hemp from application industries such as food and beverage, personal care, and animal care is driving the market. As a result, the market has suffered a devastating setback. However, given the rapid recovery of global economies, the market is expected to expand at a faster pace. Over the forecast period, the market in the United States is expected to be driven by the steady growth of small- scale market players of hemp-based industrial and consumer products. Growing consumer awareness of the nutritional benefits of hemp seed and hemp seed oil, as well as rising demand from the cosmetics and personal care industries, will drive market growth.

  2. Increased production of hemp-based soaps, shampoos, bath gels, hand and body lotions, UV skin protectors, massage oils, and a variety of other hemp-based products is expected to boost market growth. Hemp's high nutritional value, as well as its beneficial fatty acid and protein profile, are driving demand for hemp products. Hemp fiber's high absorbency makes it useful for livestock bedding, oil and gas cleanup, and personal hygiene applications. Furthermore, increasing product demand from the textile, paper, and building materials markets will support market growth due to favourable acoustic and aesthetic properties.

  3. Global Industrial Hemp Market Segmental Analysis The industrial hemp market is divided into several applications, including Textiles, Personal Care Products, Food, Pharmaceuticals, Beverages, and Others. The industrial hemp market is divided into four types: hemp seed, hemp oil, and hemp fibre. Based on region, the industrial hemp market is segmented into North America, Latin America, Europe, Asia Pacific, and MEA. View-More https://www.skyquestt.com/report/industrial-hemp- market Industrial Hemp Market Top Player's Company Profiles •Canopy Growth Corporation •Aurora Cannabis Inc. •Hemp, Inc. •Ecofibre Limited •HempFlax Group B.V. •Hemp Inc.

  4. •GenCanna Global Inc. •Hempco Food and Fiber Inc. •Colorado Hemp Works •BAFA NEU GmbH •Hemp Genetics International •American Hemp, LLC •Hemp Oil Canada Inc. •Konoplex Group •Northwest Hemp LLC •Blue Sky Hemp Ventures Ltd. •Botanical Genetics, LLC •HMI Group •Isodiol International Inc. •Folium Biosciences About Us: SkyQuest Technology is leading growth consulting firm providing market intelligence, commercialization and technology services. It has 450+ happy clients globally.

  5. Address: 1 Apache Way, Westford, Massachusetts 01886 Phone: USA (+1) 617-230-0741 Email: sales@skyquestt.com LinkedIn Facebook Twitter

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