Industrial Hemp Market analysis report gives clear idea about the market potential for each geographical region based on the growth rate, macroeconomic parameters, consumer buying patterns, possible future trends, and market demand and supply scenarios. Competitive analysis is the major feature of any market research report, and hence this report covers many points including strategic profiling of key players in the market, analyse core competencies of key players, and draw a competitive landscape for the Healthcare industry. Different components which are in charge of market development, has been analyzed clearly in Industrial Hemp Market business report.

Global industrial hemp market was valued at USD 4.6 billion in 2021 and is expected to reach USD 30.9 billion by 2029, registering a CAGR of 21.02% during the forecast period of 2022-2029. The “Hemp fiber” accounts for the largest type segment in the industrial hemp market within the forecasted period owing to its usage to obtain biofuels and bioplastics. The market report curated by the Data Bridge Market Research team includes in-depth expert analysis, import/export analysis, pricing analysis, production consumption analysis, and patent analysis.   

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Hemp (also known as cannabis) is a psychotropic substance derived from cannabis plants. Hemp is a plant that is utilized for both medicinal and recreational uses. Hemp also aids in the reduction of pain by modifying pain perception circuits in the brain. It can also assist to avoid chronic pain diseases including arthritis, migraines, fibromyalgia, and endometriosis. Hemp fabric is very absorbent, mold-resistant, and more insulating than cotton, as well as UV-resistant. It creates long-lasting goods with constant quality and softness when combined with fabrics like silk, linen, and cotton.

Industrial Hemp Market Dynamics

This section deals with understanding the market drivers, advantages, opportunities, restraints and challenges. All of this is discussed in detail as below:

Drivers

Functional Properties will Increase its Adoption

As humans cannot produce essential fatty acids, hemp seeds are very useful as they are a great source of linoleic (omega-6) and linolenic (omega-3) and they are also low in saturated fats and contain no trans-fat, which is the most significant factor driving the growth for this market.

Furthermore, the increasing legalization of the cultivation of hemp further leads manufacturers to develop new products from industrial hemp, which are also expected to fuel market growth. Moreover, the increased consumption of hemp-based products due to their various health benefits also cushions the market’s growth within the forecasted period. Increased incidences of diseases such as epilepsy and other sleep disorders are also projected to cushion the growth of the market. Moreover, the technological advances are estimated to generate lucrative opportunities for the market, which will further expand the industrial hemp market's growth rate in the future.

Restraints/Challenges

·         Complex Regulatory Structure

On the other hand, the hemp and hemp-derived products basically require compliance with different regulatory guidelines globally which is expected to obstruct market growth.

Also, the lack of proper planting and harvesting equipment are projected to challenge the industrial hemp market in the forecast period of 2022-2029.

Some of the major players operating in the industrial hemp market are Nhempco (Canada), Ecofibre (Australia), Hemp Inc. (US), GenCanna (US), HempFlax Group B.V., (Netherlands), Konoplex (Russia), Hemp Oil Canada (Canada), Hemp Poland (Poland), Dun Agro (Netherlands), Colorado Hemp Works (US), Canah International (Romania), South Hemp Tecno (Italy), Plains Industrial Hemp Processing (Canada), and MH Medical Hemp (Germany), among others.

Global Industrial Hemp Market Scope

The industrial hemp market is segmented on the basis of type, application and source. The growth amongst these segments will help you analyze meagre growth segments in the industries and provide the users with a valuable market overview and market insights to help them make strategic decisions for identifying core market applications.

Type

·         Hemp Seed

·         Hemp Seed Oil

·         CBD Hemp Oil

·         Hemp Fiber

On the basis of type, the industrial hemp market is segmented into hemp seed, hemp seed oil, CBD hemp oil and hemp fiber. Hemp fiber registers highest growth within the forecasted period owing to its usage to obtain biofuels and bioplastics.

Application

·         Food

·         Textiles

·         Beverages

·         Personal Care Products

·         Pharmaceuticals

·         Others

On the basis of application, the industrial hemp market is segmented into food, textiles, beverages, personal care products, pharmaceuticals and others.

Source

·         Conventional

·         Organic

On the basis of source, the industrial hemp market is segmented into conventional and organic.

How Does the Report Aid Your Business Discretion?

•                     This section of this Market report highlights some of the most relevant factors and growth enablers that collectively ensure a high-end growth spurt

•                     The report unravels details on pronounced share assessments across both country-wise as well as region-based segments

•                     A leading synopsis of market share analysis of dynamic players inclusive of high-end industry veterans

•                     New player entry analysis and the scope of new business models

•                     The report includes strategic recommendations for new business veterans as well as established players seeking novel growth avenues

•                     A detailed consultation service based on historical as well as current timelines to ensure feasible forecast predictions

•                     A thorough evaluation and detailed study of various segments as well as sub-segments across regional and country-specific developments

•                     Details on market estimations, market size, dimensions

•                     A review of market competitors, their high-end product and service portfolios, dynamic trends, as well as technological advances that portray high-end growth in this Market

View Detailed Global Industrial Hemp Market@ https://www.databridgemarketresearch.com/reports/global-industrial-hemp-market

Table of Contents:

  • Introduction
  • Market Segmentation
  • Executive Summary
  • Premium Insights
  • Global Industrial Hemp Market: Regulations
  • Market Overview
  • Global Industrial Hemp Market, By Type
  • Global Industrial Hemp Market, By Application
  • Global Industrial Hemp Market, End-Users
  • Global Industrial Hemp Market, By Region
  • Global Industrial Hemp Market: Company Landscape
  • SWOT Analyses
  • Company Profile
  • Questionnaires
  • Related Reports

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