Industrial Hemp - Global Market Outlook (2018-2027)
According to Stratistics MRC, the Global Industrial Hemp Market accounted for $3.43 billion in 2018 and is expected to reach $41.78 billion by 2027 growing at a CAGR of 32.0% during the forecast period. Rising prevalence of chronic diseases, increasing use of industrial hemp in various applications, and legalization in the crop growing of industrial hemp are the factors driving the market growth. However, stringent rules and regulations of government may hinder the market growth.
Industrial hemp is a breed of the Cannabis sativa plant species that is grown specially for the industrial applications of its derived products. It is an annual broad-leaved plant consisting of a taproot which is able to grow rapidly under perfect growing conditions. It was one of the earliest plants to be spun into usable fiber 10,000 years ago.
By application, the food segment is likely to have a huge demand during the forecast period. Hemp is popular as a breakfast cereal due to its nutrient-rich profile of essential fatty acids, which are essential for the proper performance of the body. Furthermore, the increasing need for hemp snacks as post-exercise food, due to their high protein content, is expected to boost their sales in the coming years.
Based on geography, Europe is going to have a lucrative growth due to the presence of a large buyer base for hemp products. Increasing consumption of hemp seeds in food products is expected to augment the growth of the market further. The demand for hemp in the form of these products is significantly high in some European countries, thus, driving the regional market growth. Further, the usage of hemp fiber is growing in different applications, such as automotive and construction materials.
Some of the key players profiled in the Industrial Hemp Market include Hemp Inc, Hemp Oil Canada, Dun Agro, Hemp Poland, South Hemp Tecno, Konoplex Group, BAFA, Hempflax BV, Plains Industrial Hemp Processing, MH Medical Hemp, Colorado Hemp Works, Hempco, Canah International, Gencanna, and Ecofibre.
• Hemp Fiber
• Cannabidiol (CBD) Hemp Oil
• Hemp Seed
• Animal Care
• Personal Care Products
• Pulp & Paper
• Oil Extraction
• North America
o Rest of Europe
• Asia Pacific
o New Zealand
o South Korea
o Rest of Asia Pacific
• South America
o Rest of South America
• Middle East & Africa
o Saudi Arabia
o South Africa
o Rest of Middle East & Africa
What our report offers:
- Market share assessments for the regional and country-level segments
- Strategic recommendations for the new entrants
- Covers Market data for the years 2017, 2018, 2019, 2023 and 2027
- Market Trends (Drivers, Constraints, Opportunities, Threats, Challenges, Investment Opportunities, and recommendations)
- Strategic analysis: Drivers and Constraints, Product/Technology Analysis, Porter’s five forces analysis, SWOT analysis, etc.
- Strategic recommendations in key business segments based on the market estimations
- Competitive landscaping mapping the key common trends
- Company profiling with detailed strategies, financials, and recent developments
- Supply chain trends mapping the latest technological advancements
Free Customization Offerings:
All the customers of this report will be entitled to receive one of the following free customization options:
• Company Profiling
o Comprehensive profiling of additional market players (up to 3)
o SWOT Analysis of key players (up to 3)
• Regional Segmentation
o Market estimations, Forecasts and CAGR of any prominent country as per the client's interest (Note: Depends on feasibility check)
• Competitive Benchmarking
o Benchmarking of key players based on product portfolio, geographical presence, and strategic alliances
Best in class reports with high standard of research integrity
24X7 Research Support
Continuous support to ensure the best customer experience.
Adding more values to your product of interest.
Safe & Secure Access
Providing a secured environment for all online transactions.
Trusted by 600+ Brands
Serving the most reputed brands across the world.