Industrial Hemp Market Trends Segment Analysis and Future Scope

1. Industrial Hemp Market Is Driven by Surging Need for Hemp in Several Sectors 1 © Prescient & Strategic Intelligence Private Limited. All rights reserved

2. The global industrial hemp market is witnessing growth and is projected to reach USD 60,682.8 million by 2030. In Europe, in recent years, the French industry generated the highest income, and the region is estimated to advance at a substantial rate of above 18%. Download sample pages https://www.psmarketresearch.com/market-analysis/industrial-hemp- market/report-sample The industry is primarily boosted by the rising requirement for industrial hemp in numerous industries and the growing legalization of the cultivation of this crop for industrial utilization. In recent years, the hemp oil category had the second-biggest share in the industrial hemp industry, at approximately 30%. Hemp oil is mainly valued by customers for its nourishing properties and health advantages, as it is a comprehensive source of all essential fatty and amino acids. Additionally, clientele is progressively drawn to natural and organic items, and hemp oil is favored as it comprises myrcene, cannabidiol, and caryophyllene, which offer health aids. Worldwide, 36 nations license hemp cultivation, and there is a growing bast fiber need for the making of high-quality fabrics. In recent years, Canada focused on hemp farming for the creation of seeds for the food and makeup sectors. The nation has lately started to grow this crop for fibers, which will be utilized in insulation, bio-composites, and building materials. Additionally, a growing count of states in the U.S. are sanctioning hemp agriculture, indicating that the nation would witness a growing hemp demand for its fibers and seeds. The legalization of the farming of industrial hemp in numerous nations is propelling the industry. Cannabis sativa L., which is utilized to create industrial hemp, is not marijuana, but a diverse cultivar of the same species. A rebirth in agriculture has been seen since the U.S., the European Union, and numerous other nations have legalized it, ensuring that the mandates for low THC levels are adhered to. of this report: 2 © Prescient & Strategic Intelligence Private Limited. All rights reserved

3. Worldwide, in recent years, the European industrial hemp market held the largest income share, at approximately 35%. This is because of the existence of a huge customer base for beverages, dietary supplements, food, and personal care products and the presence of numerous key industry players, such as Konoplex Group, HempFlax BV, South Hemp Tecno, Dun Agro, and MH Medical Hemp, in the continent. Browse the full report at:https://www.psmarketresearch.com/market- analysis/industrial-hemp-market Additionally, government establishments in numerous European nations have sanctions on the farming of industrial hemp, which has increased the crop productivity. Furthermore, the launch of hemp-based items for skincare apps is having a substantial positive effect on the requirement for this crop in the continent. Hence, the industry is primarily boosted by the rising requirement for industrial hemp in numerous industries and the growing legalization of the cultivation of this crop for industrial utilization. The research offers market size of the global industrial hemp market for the period 2017–2030. Market Segmentation by Type •Hemp Seed •Hemp Oil •Hemp Fiber •CBD Hemp Oil Market Segmentation by Application •Food •Textiles •Beverages •Personal Care Products •Pharmaceuticals •Others Market Segmentation by Source •Conventional •Organic 3 © Prescient & Strategic Intelligence Private Limited. All rights reserved

4. Market Segmentation by Farm •Outdoor •Indoor Market Segmentation by Region •North America Industrial Hemp Market oBy type oBy application oBy source oBy farm oBy country – U.S. and Canada •Europe Industrial Hemp Market oBy type oBy application oBy source oBy farm oBy country – Germany, France, U.K., Italy, Spain and Rest of Europe •Asia-Pacific (APAC) Industrial Hemp Market oBy type oBy application oBy source oBy farm oBy country – China, India. Japan, Australia, South Korea and Rest of APAC •Latin America (LATAM) Industrial Hemp Market oBy type oBy application oBy source oBy farm oBy country – Argentina, Brazil, Mexico, and Rest of LATAM •Middle East and Africa (MEA) Industrial Hemp Market oBy type oBy application oBy source oBy farm oBy country – Saudi Arabia, South Africa, and Rest of MEA 4 © Prescient & Strategic Intelligence Private Limited. All rights reserved

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