Industrial Hemp Market to Hit Highest Takings of US$ 3259.5 Million by 2028

5.2 min readPublished On: July 28th, 2022By

PUNE – Global “ Industrial hemp “ Market Report 2022 report supplies thorough estimation to improvement a complete information of the global Industrial hemp market today and its industrial outlook based completely on current and purpose marketplace. This report focuses on Professional Global Industrial Hemp Market Trend 2022-2028 volume and value at global level, regional level and company level.

In short, the Industrial hemp market report is helpful for industry players, investors, consultants, business strategists, researchers, and all those who is having any kind of interest or are planning to venture into the Industrial hemp market in any way.

global Industrial Hemp market size is estimated to be worth US$ 1358.8 million in 2022 and is forecast to a readjusted size of US$ 3259.5 million by 2028 with a CAGR of 15.7% during the forecast period 2022-2028. Fully considering the economic change by this health crisis, CBD Oil accounting for % of the Industrial Hemp global market in 2021, is projected to value US$ million by 2028, growing at a revised % CAGR from 2022 to 2028. While Medical and Pharmaceutical segment is altered to an % CAGR throughout this forecast period.

Industrial hemp Market Segmentation:

Market segments help decision-makers direct the product, sales, and marketing strategies, and can power your product development cycles by informing how you make product offerings for different segments.

Segment by Type

  • CBD Oil
  • CBD Crystal

Segment by Application

  • Medical and Pharmaceutical
  • Food and Beverage
  • Cosmetics
  • Other

Industrial hemp is a variety of the Cannabis sativa plant species that is grown specifically for industrial use. It can be used to make a wide range of products. Along with bamboo, hemp is one of the fastest growing plant on Earth. It was also one of the first plants to be spun into usable fiber 50,000 years ago. It can be refined into a variety of commercial items, including paper, rope, textiles, clothing, biodegradable plastics, paint, insulation, biofuel, food, and animal feed.

Market Analysis and Insights: Global Industrial Hemp Market

Market segment by Region/Country including: –

  • North America (United States, Canada, and Mexico)
  • Europe (Germany, UK, France, Italy, Russia and Spain, etc.)
  • Asia-Pacific (China, Japan, Korea, India, Australia, Southeast Asia, etc.)
  • South America (Brazil, Argentina, Colombia, etc.)
  • Middle East & Africa (South Africa, UAE, Saudi Arabia, etc.)

Global industrial hemp key players include Canopy Growth Corporation, Charlotte’s Web CBD, Aurora Cannabis, Folium Biosciences, Endoca, etc. Global top five manufacturers hold a share over 30%. North America is the largest market, with a share about 60%, followed by Europe, and Latin America, total have a share about 40 percent. In terms of product, CBD Oil is the largest segment, with a share over 75%. And in terms of application, the largest application is Medicine, followed by Food and Beverage, Cosmetics, etc.

Global Industrial Hemp Market: Drivers and Restrains

The research report has incorporated the analysis of different factors that augment the market’s growth. It constitutes trends, restraints, and drivers that transform the market in either a positive or negative manner. This section also provides the scope of different segments and applications that can potentially influence the market in the future. The detailed information is based on current trends and historic milestones. This section also provides an analysis of the volume of production about the global market and about each type from 2017 to 2028. This section mentions the volume of production by region from 2017 to 2028. Pricing analysis is included in the report according to each type from the year 2017 to 2028, manufacturer from 2017 to 2022, region from 2017 to 2022, and global price from 2017 to 2028.

A thorough evaluation of the restrains included in the report portrays the contrast to drivers and gives room for strategic planning. Factors that overshadow the market growth are pivotal as they can be understood to devise different bends for getting hold of the lucrative opportunities that are present in the ever-growing market. Additionally, insights into market expert’s opinions have been taken to understand the market better.

Global Industrial Hemp Market: Segment Analysis

The research report includes specific segments by region (country), by manufacturers, by Type and by Application. Each type provides information about the production during the forecast period of 2017 to 2028. by Application segment also provides consumption during the forecast period of 2017 to 2028. Understanding the segments helps in identifying the importance of different factors that aid the market growth.

Key Players in the Industrial hemp Market: –

  • Kazmira
  • Medical Marijuana, Inc.
  • Charlotte’s Web CBD
  • CV Sciences
  • Folium Biosciences
  • Endoca
  • Aurora Cannabis
  • Aphria
  • Canopy Growth Corporation
  • Manitoba Harvest
  • Hankang (Yunnan) Biotechnology
  • Yunnan Hansu Biotechnology
  • Yunnan Hamusen Biology
  • Kunming BiouNIO Biotechnology
  • Asan Wuxing Biology
  • Yunnan Yunxing Biotechnology
  • Huayun Jinxin Biotechnology
  • Yunma Biotechnology (Chenguang Biotechnology)

Objective of Studies:

  •  To provide strategic profiling of key players in the market, comprehensively analysing their core competencies, and drawing a competitive landscape for the market.
  • To provide insights about factors affecting the market growth. To analyse the Industrial hemp market based on various factors- price analysis, supply chain analysis, porter five force analysis etc.
  •  To provide detailed analysis of the market structure along with forecast of the various segments and sub-segments of the global Industrial hemp market.
  •  To provide country level analysis of the market with respect to the current Industrial hemp market size and future prospective.
  • To provide country level analysis of the market for segment by application, product type and sub-segments.
  •  To provide historical and forecast revenue of the market segments and sub-segments with respect to four main geographies and their countries- North America, Europe, Asia, and Rest of the World.
  •  To track and analyse competitive developments such as joint ventures, strategic alliances, new product developments, and research and developments in the global Industrial hemp market.

Key Benefits of Industrial hemp Market Research Report:

  • Types, applications, regions, and key players covered in the study
  • Industry drivers, restraints, and opportunities covered in the study
  • Recent industry trends and developments
  • Competitive landscape & strategies of key players
  • Historical, current, and projected market size, in terms of value
  • In-depth analysis of the Industrial hemp Market
  • Sales, price, revenue, market share, and growth rate are covered in the report sales channels, distributors, traders, dealers, etc. are covered in the report

(This information is primarily sourced from Proficient Market Insights.  Highly Capitalized has neither approved nor disapproved the contents of this news release. Read our Disclaimer here).

 

About the Author: News Team

Newsteam at Highly Capitalized are some of the most experienced writers in cannabis and psychedelics business & finance. We cover capital markets, finance, branding, marketing and everything important in between. Most of all, we follow the money.

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