“Global Industrial Hemp Market – Strategic Recommendations, Trends, Segmentation, Use Case Analysis, Competitive Intelligence, Global and Regional Forecast To 2027”
The Global Industrial Hemp Market was valued at USD 3.92 Bn in 2020 and is expected to reach USD 11.72 Bn by 2027, with a growing CAGR of 16.7% during the forecast period.
Increasing demand for industrial hemp from the pharmaceutical sector is anticipated to drive the market growth during the forecast period. Innovation in the use of hemp for medical purpose is expected to support the market growth. The legal hemp for CBD production and medicinal cannabis sector is expected to drive the industrial hemp demand in the near future. Manufacturers are aiming towards advanced scientific procedures such as in vitro micropropagation to cut production costs and provide scalable, healthy, and high-quality industrial hemp varieties. Additionally, the critical need for cost-effective propagation to meet demand, and the need to establish a properly characterize cultivars equivalent to be used in traditional agriculture with specific, consistent THC (Tetrahydrocannabinol) is expected to drive the industrial hemp market growth.
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Growing demand for hemp seeds from the food sector is anticipated to drive the market growth during the forecast period. Hemp seeds can be used to make a wide range of food products, including hemp oil, cheese, hemp-based protein powder, and milk. Hemp contains high protein and vitamin content, and they are majorly used in food and beverages, supporting the industrial hemp sector growth.
Additionally, the adoption of legality for hemp farming is supporting manufacturers and research organizations to create new products from industrial hemp. Moreover, the use of hemp in oil production is expected to drive the industrial hemp market growth in the near future. The use of hemp in biofuel production is also expected to support the demand for hemp. Hemp biodiesel is manufactured by using hemp seed oil and can be used in any conventional diesel engine. Biofuel is one such use that is expected to have significant growth potential in the coming years.
Some Players from complete research coverage of Industrial Hemp Industry are:
- HempMeds Brasil
- Terra Tech Corp.
- American Cannabis Company, Inc.
- Marijuana Company of America Inc
- HempFlax B.V.
- Industrial Hemp Manufacturing, LLC
- American Hemp
- Parkland Industrial Hemp Growers Cooperative Ltd.
- CBD Biotechnology Co.
- Hemp, Inc.
- Boring Hemp Company
- Plains Industrial Hemp Processing Ltd.
- Ecofiber Industries Operations
- Botanical Genetics, LLC
- Valley Bio Limited
- Others
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Industrial Hemp Market Segments and Sub-segments Covered in the Report are as per below:
The Global Industrial Hemp Industry Segmentation:
Global Industrial Hemp Market by Source Industry Outlook (Revenue, USD Million, 2021-2027)
- Organic
- Conventional
Global Industrial Hemp Market by Hemp Type Industry Outlook (Revenue, USD Million, 2021-2027)
- Fiber
- Seed
- Oil
Global Industrial Hemp Market by Application Industry Outlook (Revenue, USD Million, 2021-2027)
- Personal Care Products
- Pharmaceuticals
- Food & Beverages
- Others
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Geographically, this report is segmented into several key regions, with sales, revenue, market share, and growth rate of Industrial Hemp in these regions, from 2016 to 2026, covering
- North America [United States, Canada, Mexico]
- South America [Brazil, Argentina, Columbia, Chile, Peru]
- Europe [Germany, UK, France, Italy, Russia, Spain, Netherlands, Turkey, Switzerland]
- Middle East & Africa [GCC, North Africa, South Africa]
- Asia-Pacific [China, Southeast Asia, India, Japan, Korea, Western Asia]
Recent News:
In May 2021, American Cannabis Company, Inc. announced a definitive agreement to manufacture and distribute “Her Highness” Branded Products in Colorado. These products are designed and engineered thoughtfully for women by women and determined to expand the market of female consumers.
In April 2021, Hemp, Inc., a global industrial hemp manufacturer with bi-coastal processing centers, announced its one year anniversary of Florida’s state hemp program as the Company continues its massive expansion in the state.
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