Global Industrial Hemp Market Share Is Likely To Grow At A CAGR Value Of Around 16.9% By 2030

07-Mar-2022 | Facts and Factors

Findings from Facts and Factors report “Industrial Hemp Market By Application Prospects (Paper, Personal Care, Automotive, Textiles, Food & Beverages, Animal Care, Furniture, Construction Materials, and Others), By Product Prospects (Fiber, Shivs, and Seeds) and By Region - Global and Regional Industry Overview, Market Intelligence, Comprehensive Analysis, Historical Data, and Forecast 2022–2030” states that The global industrial hemp market was worth around USD 4.5 billion in 2021 and is estimated to grow to about USD 17.24 billion by 2030, with a compound annual growth rate (CAGR) of approximately 16.9% over the forecast period. The report analyzes the industrial hemp market’s drivers, restraints, and challenges and the effect they have on the demands during the projection period. In addition, the report explores emerging opportunities in the industrial hemp market.

Industrial hemp is a cultivar of the plant Cannabis sativa that is utilized for a range of industrial and personal purposes. Hemp fiber, hemp oil, and hemp seeds are some of its by-products. Because of their high nutritional content, antioxidant, and anti-microbial qualities, these biodegradable compounds are widely employed in a variety of industries, including personal care products, textiles, animal feed, and others. Industrial hemp, as a fast-growing plant, provides a sustainable and renewable raw material for the manufacture of a variety of products, including fuel, plastic, and paper.

Browse the full “Industrial Hemp Market By Application Prospects (Paper, Personal Care, Automotive, Textiles, Food & Beverages, Animal Care, Furniture, Construction Materials, and Others), By Product Prospects (Fiber, Shivs, and Seeds) and By Region - Global and Regional Industry Overview, Market Intelligence, Comprehensive Analysis, Historical Data, and Forecast 2022–2030”  report at https://www.fnfresearch.com/industrial-hemp-market

Hemp's excellent nutritional value, as well as its healthy fatty acid and protein composition, is boosting demand for hemp supplements. Hemp fiber's high absorbency makes it useful for animal bedding, personal hygiene, and oil & gas clean-up uses. Furthermore, rising product demand from the paper, textile, and building materials markets due to good aesthetic and acoustic features will drive global industrial hemp market expansion. Hemp-based products are environmentally friendly, renewable, and connected with less toxic ways of production. Paper made from hemp fiber requires fewer chemicals to be processed than paper made from wood pulp.

As a result, increased consumer knowledge of product benefits is expected to boost the market growth. However, businesses that offer hemp and hemp-derived goods must follow various regulatory rules around the world. While countries around the world have varying degrees of legality for different forms of hemp, the tight regulatory requirements governing the cultivation and sale of industrial hemp across many states within the same country may be difficult for producers and consumers to comply with. Furthermore, the legislation governing hemp possessing tetrahydrocannabinol (THC) and cannabidiol (CBD) varies greatly, adding to the complexity associated with the commodity's trading.

The global industrial hemp market is segregated on the basis of application prospects, product prospects, and region. By application prospects, the market is divided into paper, personal care, automotive, textiles, food & beverages, animal care, furniture, construction materials, and others. Personal care products have the highest market share and are predicted to increase at a rapid CAGR over the forecast period. By product prospects, the market is divided into fiber, shivs, and seeds. The fiber segment is expected to increase at the fastest CAGR during the forecast period.

The Asia Pacific dominates the global industrial hemp market, accounting for more than 32% of worldwide sales. India, China, Japan, Australia, Korea, Thailand, and New Zealand are all strongly engaged in the production and use of industrial hemp and its by-products such as seeds, fiber, oil, and hurds. Increasing global product demand, as well as advancements in technology and innovation, is making harvesting easier for planters and thereby transforming the face of hemp cultivation in the region. Over the forecast period, the regional market is expected to be driven by the rising consumption of hemp-based food items and supplements in developing countries with a growing geriatric population.

Report Scope

Key players functioning in the global industrial hemp market include HempMedsBrasil, Hemp, Inc., Valley Bio Ltd., HempFlax B.V., Marijuana Company of America, Inc., American Cannabis Company, Plains Industrial Hemp Processing Ltd., Boring Hemp Company, Ecofiber Industries Operations, Terra Tech Corp., CBD Biotechnology Co., American Hemp, Botanical Genetics, LLC, Industrial Hemp Manufacturing, LLC, and Parkland Industrial Hemp Growers Cooperative Ltd.

Recent developments:

• October 2020: Diamonds is a new CBD product from Hemp Inc. that is produced from golden-hued high CBD and gives the same results as 92 percent and 98.7 percent pure CBD.
• May 2019: Atalo Holdings (US) and GenCanna have formed a strategic alliance to construct a fully integrated hemp production and handling facility in Kentucky, US.

Global Industrial Hemp Market: By Application Prospects

• Paper
• Personal Care
• Automotive
• Textiles
• Food & Beverages
• Animal Care
• Furniture
• Construction Materials
• Others

Global Industrial Hemp Market: By Product Prospects

• Fiber
• Shivs
• Seeds

Global Industrial Hemp Market: Regional Segmentation Analysis

• North America
  • The U.S.
  • Canada
• Europe
  • France
  • The UK
  • Spain
  • Germany
  • Italy
  • Rest of Europe
• Asia Pacific
  • China
  • Japan
  • India
  • South Korea
  • Southeast Asia
  • Rest of Asia Pacific
• Latin America
  • Brazil
  • Mexico
  • Rest of Latin America
• Middle East & Africa
  • GCC
  • South Africa
  • Rest of the Middle East & Africa

About Us:

Facts & Factors is a leading market research organization offering industry expertise and scrupulous consulting services to clients for their business development. The reports and services offered by Facts and Factors are used by prestigious academic institutions, start-ups, and companies globally to measure and understand the changing international and regional business backgrounds. Our client’s/customer’s conviction in our solutions and services has pushed us in delivering always the best. Our advanced research solutions have helped them in appropriate decision-making and guidance for strategies to expand their business.

Contact Us:
Facts & Factors
A 2108, Sargam,
Nanded City,
Sinhagad Road,
Pune 411041, India
USA: +1-347-989-3985
Email: [email protected]
Web: https://www.fnfresearch.com