Global Industrial Hemp Market By Overview
Introduction:
Hemp fibers is rigorously being used as a raw material for textile yarn production and considered as a great substitute for cotton and synthetic fibers especially for industrial purpose, hemp is grown. It is a cannabis sativa plant species which has tetrahydrocannabinol content less than 0.3% in it. It is a lucrative rotation crop for farmers attributing to the characteristics of hemp to take in CO2 detoxify the soil, and inhibit soil erosion. It is an agricultural commodity and industrial hemp is highly dependent on climatic conditions, regulatory tolerance, and availability of labor. Hemp seeds and flowers find application in health foods, organic cosmetic products, and other nutraceuticals. It is used to make a variety of commercial and industrial products, including rope, textiles, clothing, shoes, food, paper, bioplastics, insulation, and biofuel. It has potential to be an excellent substitute or renewable resource in everything from building materials, energy, food, fuel, body care, and more. The global industrial hemp market accounted for US$ 3.61 billion in 2020 and is estimated to be US$ 15.98 billion by 2030 and is anticipated to register a CAGR of 16.2%.
Global Industrial Hemp Market By Dynamics
Rising demand for oil in food & beverage industry
Rising demand for oil in food and beverages owing to growing awareness regarding dietary advantages of hempseed and oil is expected to drive the target market. Rising demand for bakery products such as bread and cookies are expected to enhance the growth of the target market. The industry is witnessing growth on account of increasing consumer awareness containing benefits associated with hemp products as it aids in insulin balance, cardiac function, mood stability, and skin and joint health.
However, low yield availability, lack of harvesting innovations and processing facilities, and difficulties in transporting the product in highly regulated markets are factors inhibiting the growth of the global market. The use and consumption of hemp in some countries are not legalized by the government also affects the growth of the target market.
Global Industrial Hemp Market By Segmentation
Source: Prophecy Market Insights |Disclaimer: Data is only a representation. Actual data may vary in the final report.
The global industrial hemp market is segmented based on product type, source, applications, and region.
On the basis of product type, the target market is divided into seeds, fiber, shivs, and stalks. Hemp fibers are robust, contain high amount of hemicellulose, and have a high absorbent capacity, which makes it useful for the textile industry. On the basis of source, the target market is divided into natural and organic. On the basis of application, the target market is divided into animal care, textiles, automotive, furniture, food & beverages, paper, construction materials, and personal care.
Regional Insights:
The global industrial hemp market accounted for US$ 3.61 billion in 2020 and is estimated to be US$ 15.98 billion by 2030 and is anticipated to register a CAGR of 16.2%. On region the global industrial hemp market is segmented into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. North America is expected to exhibit a high growth in terms of revenue as it is a major consumer of seed and fiber-based products, primarily used in food and beverages, textile, and personal care industries. Asia Pacific is to register an unexpected growth due to increasing fiber consumption in manufacturing of biodegradable textiles for consumer and industrial applications. The Middle east market is driven by rise in consumption of oil derived from the product for pharmaceutical and food and beverage industry.
Report Scope:
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Attribute |
Details |
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Base year for estimation |
2020 |
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Forecast period |
2020 – 2030 |
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Market representation |
Revenue in USD Billion & CAGR from 2020 – 2030 |
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Market Segmentation |
By Product- Seeds, Fiber, Shivs, and Stalks By Source– Natural and Organic By Application– Animal Care, Textiles, Automotive, Furniture, Food & Beverages, Paper, Construction Materials, and Personal Care |
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Regional scope |
North America - U.S., Canada Europe - UK, Germany, Spain, France, Italy, Russia, Rest of Europe Asia Pacific - Japan, India, China, South Korea, Australia, Rest of Asia-Pacific Latin America - Brazil, Mexico, Argentina, Rest of Latin America Middle East & Africa - South Africa, Saudi Arabia, UAE, Rest of Middle East & Africa |
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Report coverage |
Revenue forecast, company share, competitive landscape, growth factors, and trends |
Segments Covered in the Report:
This report forecasts revenue growth at global, regional, and country levels and provides an analysis of the latest industry trends and opportunities in each of the sub-segments from 2020 to 2030. For the purpose of this study, has segmented the global industrial hemp market report based on product type, source, application, and region.
Global Industrial Hemp Market, By Region:
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- North America
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- U.S.
- Canada
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- Europe
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- Germany
- UK
- France
- Russia
- Italy
- Rest of Europe
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- Asia Pacific
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- China
- India
- Japan
- South Korea
- Rest of Asia Pacific
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- Latin America
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- Brazil
- Mexico
- Rest of Latin America
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- Middle East & Africa
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- GCC
- Israel
- South Africa
- Rest of Middle East & Africa
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- North America
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Global Industrial Hemp Market By Key Players
The key players operating in the global industrial hemp market includes CBD Biotechnology Company Limited, Marijuana Company of America Inc., Botanical Genetics LLC Inc., HempMeds co., Terra Tech Corp, Industrial Hemp manufacturing company, American Hemp Manufacturers Limited, Plains Industrial Hemp Processing Limited, Hemp FoodS corp., Blue Sky Hemp Ventures Limited, and Hemp Oil limited.
Hemp Meds:
Medical Marijuana Inc. the first ever publicly traded cannabis company in the USA launched the world’s first-ever cannabis-derived nutraceutical products, brands and supply chain, announced today that its subsidiary Hemp Meds will be attending and exhibiting at SuperZoo, the most-attended pet industry shows in North America, in Las Vegas.
Global Industrial Hemp Market By Company Profile
- CBD Biotechnology Company Limited
- Company Overview
- Product Portfolio
- Key Highlights
- Financial Performance
- Business Strategies
- Marijuana Company of America Inc.
- Company Overview
- Product Portfolio
- Key Highlights
- Financial Performance
- Business Strategies
- Botanical Genetics LLC Inc.
- Company Overview
- Product Portfolio
- Key Highlights
- Financial Performance
- Business Strategies
- HempMeds co.
- Company Overview
- Product Portfolio
- Key Highlights
- Financial Performance
- Business Strategies
- Terra Tech Corp
- Company Overview
- Product Portfolio
- Key Highlights
- Financial Performance
- Business Strategies
- Industrial Hemp manufacturing company
- Company Overview
- Product Portfolio
- Key Highlights
- Financial Performance
- Business Strategies
- American Hemp Manufacturers Limited
- Company Overview
- Product Portfolio
- Key Highlights
- Financial Performance
- Business Strategies
- Plains Industrial Hemp Processing Limited
- Company Overview
- Product Portfolio
- Key Highlights
- Financial Performance
- Business Strategies
- Hemp FoodS corp
- Company Overview
- Product Portfolio
- Key Highlights
- Financial Performance
- Business Strategies
- Blue Sky Hemp Ventures Limited
- Company Overview
- Product Portfolio
- Key Highlights
- Financial Performance
- Business Strategies
- Hemp Oil limited
- Company Overview
- Product Portfolio
- Key Highlights
- Financial Performance
- Business Strategies
Global Industrial Hemp Market By Table of Contents
- Research Objective and Assumption
- Preface
- Research Objectives
- Study Scope
- Years Considered for the study
- Assumptions
- Abbreviations
- Research Methodology
- Research data
- Primary Data
- Primary Interviews
- Primary Breakdown
- Key data from Primary Sources
- Key Thickness Insights
- Secondary Data
- Major Secondary Sources
- Secondary Sources
- Market Estimation
- Top-Down Approach
- Approach for estimating Market Share by Top-Down Analysis (Supply Side)
- Bottom-Up Approach
- Approach for estimating market share by Bottom-up Analysis (Demand Side)
- Market Breakdown and Data Triangulation
- Research Assumptions
- Market Purview
- Executive Summary
- Key Findings—Global Outlook for Industrial Hemp Strategies
- Key Questions this Study will Answer
- Market Snippet, By Product Type
- Market Snippet, By Source
- Market Snippet, By Application
- Market Snippet, By Region
- Opportunity Map Analysis
- Executive Summary—3 Big Predictions
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- The Last Word
- Future Impact
- About Us
- Contact
- Marijuana Company of America Inc.
- Company Overview
- Product Portfolio
- Key Highlights
- Financial Performance
- Business Strategies
- Botanical Genetics LLC Inc.
- Company Overview
- Product Portfolio
- Key Highlights
- Financial Performance
- Business Strategies
- HempMeds co.
- Company Overview
- Product Portfolio
- Key Highlights
- Financial Performance
- Business Strategies
- Terra Tech Corp
- Company Overview
- Product Portfolio
- Key Highlights
- Financial Performance
- Business Strategies
- Industrial Hemp manufacturing company
- Company Overview
- Product Portfolio
- Key Highlights
- Financial Performance
- Business Strategies
- American Hemp Manufacturers Limited
- Company Overview
- Product Portfolio
- Key Highlights
- Financial Performance
- Business Strategies
- Plains Industrial Hemp Processing Limited
- Company Overview
- Product Portfolio
- Key Highlights
- Financial Performance
- Business Strategies
- Hemp FoodS corp
- Company Overview
- Product Portfolio
- Key Highlights
- Financial Performance
- Business Strategies
- Blue Sky Hemp Ventures Limited
- Company Overview
- Product Portfolio
- Key Highlights
- Financial Performance
- Business Strategies
- Hemp Oil limited
- Company Overview
- Product Portfolio
- Key Highlights
- Financial Performance
- Business Strategies
- CBD Biotechnology Company Limited
- Company Overview
- Product Portfolio
- Key Highlights
- Financial Performance
- Business Strategies
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- Global Industrial Hemp Market, By Region, 2020 – 2030, (US$ Bn)
- Overview
- Market Value and Forecast (US$ Bn), and Share Analysis (%), 2020 – 2030
- Y-o-Y Growth Analysis (%), 2020 – 2030
- Regional Trends
- North America
- Market Size and Forecast (US$ Bn), By Product, 2020 – 2030
- Market Size and Forecast (US$ Bn), By Source, 2020 – 2030
- Market Size and Forecast (US$ Bn), By Application, 2020 – 2030
- Market Size and Forecast (US$ Bn), By Country, 2020 – 2030
- U.S.
- Canada
- Europe
- Market Size and Forecast (US$ Bn), By Product, 2020 – 2030
- Market Size and Forecast (US$ Bn), By Source, 2020 – 2030
- Market Size and Forecast (US$ Bn), By Application, 2020 – 2030
- Market Size and Forecast (US$ Bn), By Country, 2020 – 2030
- UK
- France
- Germany
- Russia
- Italy
- Rest of Europe
- Asia Pacific
- Market Size and Forecast (US$ Bn), By Product, 2020 – 2030
- Market Size and Forecast (US$ Bn), By Source, 2020 – 2030
- Market Size and Forecast (US$ Bn), By Application, 2020 – 2030
- Market Size and Forecast (US$ Bn), By Country, 2020 – 2030
- India
- Japan
- South Korea
- China
- Rest of Asia Pacific
- Latin America
- Market Size and Forecast (US$ Bn), By Product, 2020 – 2030
- Market Size and Forecast (US$ Bn), By Source, 2020 – 2030
- Market Size and Forecast (US$ Bn), By Application, 2020 – 2030
- Market Size and Forecast (US$ Bn), By Country, 2020 – 2030
- Brazil
- Mexico
- Rest of Latin America
- Middle East & Africa
- Market Size and Forecast (US$ Bn), By Product, 2020 – 2030
- Market Size and Forecast (US$ Bn), By Source, 2020 – 2030
- Market Size and Forecast (US$ Bn), By Application, 2020 – 2030
- Market Size and Forecast (US$ Bn), By Country, 2020 – 2030
- GCC
- Israel
- South Africa
- Rest of Middle East
- Overview
- Competitive Landscape
- Heat Map Analysis
- Market Presence and Specificity Analysis
- Company Profiles
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- Global Industrial Hemp Market, By Application 2020 – 2030, (US$ Bn)
- Overview
- Market Value and Forecast (US$ Bn), and Share Analysis (%), 2020 – 2030
- Y-o-Y Growth Analysis (%), 2020 – 2030
- Segment Trends
- Animal Care
- Overview
- Market Size and Forecast (US$ Bn), and Y-o-Y Growth (%), 2020 – 2030
- Textiles
- Overview
- Market Size and Forecast (US$ Bn), and Y-o-Y Growth (%), 2020 – 2030
- Automotive
- Overview
- Market Size and Forecast (US$ Bn), and Y-o-Y Growth (%), 2020 – 2030
- Furniture
- Overview
- Market Size and Forecast (US$ Bn), and Y-o-Y Growth (%), 2020 – 2030
- Food & Beverages
- Overview
- Market Size and Forecast (US$ Bn), and Y-o-Y Growth (%), 2020 – 2030
- Paper
- Overview
- Market Size and Forecast (US$ Bn), and Y-o-Y Growth (%), 2020 – 2030
- Construction Materials
- Overview
- Market Size and Forecast (US$ Bn), and Y-o-Y Growth (%), 2020 – 2030
- Personal Care
- Overview
- Market Size and Forecast (US$ Bn), and Y-o-Y Growth (%), 2020 – 2030
- Overview
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- Global Industrial Hemp Market, By Source 2020 – 2030, (US$ Bn)
- Overview
- Market Value and Forecast (US$ Bn), and Share Analysis (%), 2020 – 2030
- Y-o-Y Growth Analysis (%), 2020 – 2030
- Segment Trends
- Natural
- Overview
- Market Size and Forecast (US$ Bn), and Y-o-Y Growth (%), 2020 – 2030
- Organic
- Overview
- Market Size and Forecast (US$ Bn), and Y-o-Y Growth (%), 2020 – 2030
- Overview
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- Global Industrial Hemp Market, By Product Type 2020 – 2030, (US$ Bn)
- Overview
- Market Value and Forecast (US$ Bn), and Share Analysis (%), 2020 – 2030
- Y-o-Y Growth Analysis (%), 2020 – 2030
- Segment Trends
- Seeds
- Overview
- Market Size and Forecast (US$ Bn), and Y-o-Y Growth (%), 2020 – 2030
- Fiber
- Overview
- Market Size and Forecast (US$ Bn), and Y-o-Y Growth (%), 2020 – 2030
- Shivs
- Overview
- Market Size and Forecast (US$ Bn), and Y-o-Y Growth (%), 2020 – 2030
- Stalks
- Overview
- Market Size and Forecast (US$ Bn), and Y-o-Y Growth (%), 2020 – 2030
- Overview
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- Market Dynamics, Regulations, and Trends Analysis
- Market Dynamics
- Drivers
- Restraints
- Market Opportunities
- Market Trends
- DR Impact Analysis
- PEST Analysis
- Porter’s Five Forces Analysis
- Opportunity Orbit
- Market Investment Feasibility Index
- Macroeconomic Factor Analysis
- Market Dynamics
- The Last Word
FAQs
The Global Industrial Hemp Market report segments the market on the basis into product type, source, application and region.
The target market is likely to be driven by rising demand for oil in food and beverages as people become more aware of the health benefits of hempseed and oil.
Asia Pacific led the market and accounted for more shares of the global revenue in 2021.
The leading players operating in the Global Industrial Hemp Market includes CBD Biotechnology Company Limited, Marijuana Company of America Inc., Botanical Genetics LLC Inc., HempMeds co., Terra Tech Corp, Industrial Hemp manufacturing company, American Hemp Manufacturers Limited, Plains Industrial Hemp Processing Limited, Hemp FoodS corp., Blue Sky Hemp Ventures Limited, and Hemp Oil limited.