NEW YORK, United States – Facts and Factors has published a new research report titled “Industrial Hemp Market By Application Prospects (Paper, Personal Care, Automotive, Textiles, Food & Beverages, Animal Care, Furniture, Construction Materials, and Others), By Product Prospects (Fiber, Shivs, and Seeds) and By Region – Global and Regional Industry Overview, Market Intelligence, Comprehensive Analysis, Historical Data, and Forecast 2022–2030” in its research database.
“According to the latest research study, the demand of global Industrial Hemp Market size & share was valued at approximately USD 4.5 billion in 2021. The market is expected to grow above a compound annual growth rate (CAGR) of 16.9% and is anticipated to reach over USD 17.24 billion by 2030.”
The report analyses the Industrial Hemp market’s drivers and restraints, as well as the impact they have on-demand throughout the projection period. In addition, the report examines global opportunities in the global Industrial Hemp market.
What is Industrial Hemp? How big is the Industrial Hemp Industry?
Industrial hemp is a cultivar of the plant Cannabis sativa that is utilized for a range of industrial and personal purposes. Hemp fiber, hemp oil, and hemp seeds are some of its by-products. Because of their high nutritional content, antioxidant, and anti-microbial qualities, these biodegradable compounds are widely employed in a variety of industries, including personal care products, textiles, animal feed, and others. Industrial hemp, as a fast-growing plant, provides a sustainable and renewable raw material for the manufacture of a variety of products, including fuel, plastic, and paper.
Our Free Sample Report Consists of the Following:
- Introduction, Overview, and in-depth industry analysis are all included in the 2022 updated report.
- The COVID-19 Pandemic Outbreak Impact Analysis is included in the package
- About 232+ Pages Research Report (Including Recent Research)
- Provide detailed chapter-by-chapter guidance on Request
- Updated Regional Analysis with Graphical Representation of Size, Share, and Trends for the Year 2022
- Includes Tables and figures have been updated
- The most recent version of the report includes the Top Market Players, their Business Strategies, Sales Volume, Revenue Analysis, SWOT Analysis, Industry Major Players, Historical and Forecast Growth, Porter’s 5 Forces Analysis
- Facts and Factors research methodology
Key Insights from Primary Research
- As per the analysis, the Industrial Hemp market is likely to grow above a CAGR of around 16.9% between 2022 and 2030.
- The Industrial Hemp market size was worth around US$ 4.5 billion in 2021 and is estimated to hit approximately US$ 17.24 billion by 2030. Due to a variety of driving factors, the market is predicted to rise at a significant rate.
- By application prospects, Personal care products have the highest market share and are predicted to increase at a rapid CAGR over the forecast period.
- By product prospects, the fiber segment is expected to increase at the fastest CAGR during the forecast period.
- Asia Pacific region leads the industrial hemp industry, contributing to more than 33% of global sales.
The report contains qualitative and quantitative research on the global Industrial Hemp Market, as well as detailed insights and development strategies employed by the leading competitors. The report also provides an in-depth analysis of the market’s main competitors, as well as information on their competitiveness. The research also identifies and analyses important business strategies used by these main market players, such as mergers and acquisitions (M&A), affiliations, collaborations, and contracts.
Some of the main players in the global Industrial Hemp market include,
- Hemp Inc.
- Valley Bio Ltd.
- HempFlax B.V.
- Marijuana Company of America Inc.
- American Cannabis Company
- Plains Industrial Hemp Processing Ltd.
- Boring Hemp Company
- Ecofiber Industries Operations
- Terra Tech Corp.
- CBD Biotechnology Co.
- American Hemp
- Botanical Genetics LLC
- Industrial Hemp Manufacturing
- Parkland Industrial Hemp Growers Cooperative Ltd.
Hemp’s excellent nutritional value, as well as its healthy fatty acid and protein composition, is boosting demand for hemp supplements. Hemp fiber’s high absorbency makes it useful for animal bedding, personal hygiene, and oil & gas clean-up uses. Furthermore, rising product demand from the paper, textile, and building materials markets due to good aesthetic and acoustic features will drive global industrial hemp market expansion. Hemp-based products are environmentally friendly, renewable, and connected with less toxic ways of production. Paper made from hemp fiber requires fewer chemicals to be processed than paper made from wood pulp.
As a result, increased consumer knowledge of product benefits is expected to boost the market growth. However, businesses that offer hemp and hemp-derived goods must follow various regulatory rules around the world. While countries around the world have varying degrees of legality for different forms of hemp, the tight regulatory requirements governing the cultivation and sale of industrial hemp across many states within the same country may be difficult for producers and consumers to comply with. Furthermore, the legislation governing hemp possessing tetrahydrocannabinol (THC) and cannabidiol (CBD) varies greatly, adding to the complexity associated with the commodity’s trading.
Industrial Hemp Market: COVID-19 Impact Analysis
The COVID-19 pandemic had a tremendous influence on brick-and-mortar enterprises, compelling them to relocate to digital platforms, resulting in a significant supply and demand imbalance for hemp-based items. However, rising consumer awareness of hemp’s therapeutic properties has bolstered market growth in recent times. Furthermore, expanded legalization legislation in key nations fueled the global industrial hemp market expansion throughout the epidemic.
Industrial Hemp Market: Segmentation Analysis
The global industrial hemp market is segregated on the basis of application prospects, product prospects, and region.
By application prospects, the market is divided into paper, personal care, automotive, textiles, food & beverages, animal care, furniture, construction materials, and others. Personal care products have the highest market share and are predicted to increase at a rapid CAGR over the forecast period. By product prospects, the market is divided into fiber, shivs, and seeds. The fiber segment is expected to increase at the fastest CAGR during the forecast period.
The Asia Pacific dominates the global industrial hemp market, accounting for more than 32% of worldwide sales. India, China, Japan, Australia, Korea, Thailand, and New Zealand are all strongly engaged in the production and use of industrial hemp and its by-products such as seeds, fiber, oil, and hurds. Increasing global product demand, as well as advancements in technology and innovation, is making harvesting easier for planters and thereby transforming the face of hemp cultivation in the region.
Over the forecast period, the regional market is expected to be driven by the rising consumption of hemp-based food items and supplements in developing countries with a growing geriatric population.
Recent Industry Developments:
- October 2020: Diamonds is a new CBD product from Hemp Inc. that is produced from golden-hued high CBD and gives the same results as 92 percent and 98.7 percent pure CBD.
Key questions answered in this report:
- What is the market size and growth rate forecast for Industrial Hemp industry?
- What are the main driving factors propelling the Industrial Hemp Market forward?
- What are the leading companies in the Industrial Hemp Industry?
- What segments does the Industrial Hemp Market cover?
- How can I receive a free copy of the Industrial Hemp Market sample report and company profiles?
The global Industrial Hemp market is segmented as follows:
By Application Prospects
- Personal Care
- Food & Beverages
- Animal Care
- Construction Materials
By Product Prospects
- North America
- The UK
- Rest of Europe
- Asia Pacific
- Southeast Asia
- Rest of Southeast Asia
- The Middle East & Africa
- South Africa
- Rest of the Middle East & Africa
- Latin America
- Rest of Latin America
- Market Size, Trends, & Forecast by Revenue | 2022−2030
- Market Dynamics – Leading Trends, Growth Drivers, Restraints, and Investment Opportunities
- Market Segmentation – A detailed analysis by Application Prospects, Product Prospects, and Region
- Competitive Landscape – Top Key Vendors and Other Prominent Vendors
(This information is primarily sourced from Facts & Factors. Highly Capitalized has neither approved nor disapproved the contents of this news release. Read our Disclaimer here).