Industrial Hemp Market Trends, Share, Industry Size, Growth, Demand, Opportunities and Forecast to 2029
Data Bridge Market research has recently released expansive research titled Global Industrial Hemp Market guarantees you will remain better informed than your competition.
Industrial Hemp Market report gives explanation about the different segments of the market analysis which is demanded by today’s businesses. Key players are taking actions such as developments, product launches, acquisitions, mergers, joint ventures and competitive analysis in the industry. All the market aspects are estimated and analysed by a team of innovative, enthusiastic and motivated researchers and analysts so that nothing lefts uncovered in the report. Global Industrial Hemp Market research report, it becomes easy to figure out brand awareness and insight about the brand and product among potential customers.
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.
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.
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.
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.
Core Objective of Industrial Hemp Market:
Every firm in the Industrial Hemp Market has objectives but this market research report focus on the crucial objectives, so you can analysis about competition, future market, new products, and informative data that can raise your sales volume exponentially.
- Size of the Industrial Hemp Market and growth rate factors.
- Important changes in the future Industrial Hemp Market.
- Top worldwide competitors of the Market.
- Scope and product outlook of Industrial Hemp Market.
- Developing regions with potential growth in the future.
- Tough Challenges and risk faced in Market.
- Global Industrial Hemp top manufacturers profile and sales statistics.
Key takeaways from the Industrial Hemp Market report:
- Detailed considerate of Industrial Hemp Market-particular drivers, Trends, constraints, Restraints, Opportunities and major micro markets.
- Comprehensive valuation of all prospects and threat in the
- In depth study of industry strategies for growth of the Industrial Hemp Market-leading players.
- Industrial Hemp Market latest innovations and major procedures.
- Favorable dip inside Vigorous high-tech and market latest trends remarkable the Market.
- Conclusive study about the growth conspiracy of Industrial Hemp Market for forthcoming years.
Frequently Asked Questions
- What is the Future Market Value for Industrial Hemp Market?
- What is the Growth Rate of the Industrial Hemp Market?
- What are the Major Companies Operating in the Industrial Hemp Market?
- Which Countries Data is covered in the Industrial Hemp Market?
- What are the Main Data Pointers Covered in Industrial Hemp Market Report?
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