Industrial Hemp in Medical Market Report 2025 (Global Edition)

Global Industrial Hemp in Medical Market Report 2024 Market Size Split by Source Outlook: (Conventional, Organic)

Industrial Hemp in Medical Market Report Description

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Industrial Hemp in Medical Market Insights Video

Competitive Landscape of the Industrial Hemp in Medical Market

The industrial hemp medical market is competitive, with several global players investing heavily in product innovation, research, and marketing. Companies like Charlotte’s Web, Canopy Growth, and Tilray dominate the market, leveraging their extensive distribution networks and brand recognition. Smaller companies focus on niche applications, such as targeted CBD products for pain relief and insomnia. The competitive landscape is marked by collaborations, mergers, and acquisitions as companies look to expand their product portfolios and increase market penetration.

In January 2023, Bast Fibre Technologies Inc. (BFT), a Canadian producer of natural fibers, acquired Lumberton Cellulose LLC, a natural fiber processing facility located in North Carolina, U.S. The acquisition is expected to enhance BFT's manufacturing capabilities in North America, enabling the company to meet the increasing demand for sustainable natural fibers. (Source: https://www.canadianmanufacturing.com/manufacturing/bast-fibre-technologies-to-acquire-lumberton-cellulose-llc-277562/) In September 2022, the Thai Industrial Hemp Trade Association (TIHTA) entered into a cooperation agreement with twelve manufacturing associations to highlight technology and innovations in the hemp industry. According to TIHTA, the partnership will improve access to higher-quality raw materials, foster networking opportunities, and facilitate knowledge sharing, all aimed at positioning Thailand as Asia's leading hub for hemp industries. (Source: https://hemphealth.co.uk/thai-hemp-association-tihta-signs-pact-agreements-with-12-leading-manufacturing-industries/)

Top Companies Market Share in Industrial Hemp in Medical Industry: (In no particular order of Rank)

• Charlotte's Web
• Canopy Growth Corporation
• Aurora Cannabis Inc.
• Tilray Inc.
• HempMeds
• Elixinol Global Limited
• Medterra CBD
• CBDistillery
• HEXO Corp
• GW Pharmaceuticals
• Pure Hemp Botanicals
• Endoca
• American Green Inc.
• The Green Organic Dutchman
• Vitality CBD
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*List of Second Tier Companies, List of Third Tier/ Start-up Companies (Inquire with sales executive) Request Any Company Profile for Preview Purpose OR Data Validation!

If any Company(ies) of your interest has/have not been disclosed in the above list then please let us know the same so that we will check the data availability in our database and provide you the confirmation or include it in the final deliverables.

Regional Analysis of the Industrial Hemp in Medical Market

Which Region Dominates the Industrial Hemp in Medical Market in 2024?

According to Cognitive Market Research, North America is the leading region in the industrial hemp medical market, driven by favorable legal frameworks and an increasing number of states legalizing hemp for medicinal purposes. The U.S. market, in particular, has witnessed substantial growth in hemp-derived CBD products, including oils, tinctures, and capsules. Strong demand for hemp-based therapies, particularly in pain management and sleep disorders, contributes to North America's dominance. Leading companies in the region continue to expand product offerings to meet growing consumer needs.

Which Region is Expanding at the Fastest CAGR?

Asia-Pacific is the fastest-growing region in the industrial hemp medical market, with countries like China, India, and Australia leading the way. The region is witnessing a surge in demand for hemp-based products due to increasing awareness of their therapeutic benefits. Regulatory changes are making it easier for hemp cultivation and production to expand, while growing consumer interest in natural health products accelerates market growth. As more countries legalize industrial hemp for medical use, the Asia-Pacific region is expected to experience rapid market expansion.

The current report Scope analyzes Industrial Hemp in Medical Market on 5 major region Split (In case you wish to acquire a specific region edition (more granular data) or any country Edition data then please write us on info@cognitivemarketresearch.com

• North America (United States, Canada, Mexico)
• Europe (United Kingdom, France, Germany, Italy, Russia, Spain, Sweden, Denmark, Netherlands, Switzerland, Belgium)
• Asia-Pacific (China, Japan, Korea, India, Australia, Philippines, Singapore, Malaysia, Thailand, Indonesia, Rest of APAC)
• South America (Brazil, Argentina, Colombia, Peru, Chile, Rest of South America)
• Middle East and Africa (Saudi Arabia, Turkey, Nigeria, UAE, Egypt, South Africa, GCC Countries, Rest of MEA)

The above graph is for illustrative purposes only.

North America Industrial Hemp in Medical

According to Cognitive Market Research, the global industrial hemp in medical market size was estimated at USD XX Million, out of which North America held the major market share of more than 40% of the global revenue with a market size of USD XX million in 2024 and will grow at a compound annual growth rate (CAGR) of 16.7% from 2024 to 2031.

• According to Cognitive Market Research, The United States industrial hemp in medical market is projected to witness growth at a CAGR of 16.5% during the forecast period, with a market size of USD XX million in 2024. In the U.S., rising demand for natural alternatives to pharmaceutical pain management and increasing legalization of hemp products will drive market growth.
• Canada industrial hemp in medical market is projected to witness growth at a CAGR of 17.5% during the forecast period, with a market size of USD XX million in 2024. Canada's progressive stance on cannabis and hemp-based products, coupled with strong medical research investments, will contribute to market expansion. Mexico industrial hemp in medical market is projected to witness growth at a CAGR of 17.2% during the forecast period, with a market size of USD XX million in 2024.

Europe Industrial Hemp in Medical

According to Cognitive Market Research, the global industrial hemp in medical market size was estimated at USD XX Million, out of which Europe held the market share of more than 30% of the global revenue with a market size of USD XX million in 2024 and will grow at a compound annual growth rate (CAGR) of 17.0% from 2024 to 2031.

• The United Kingdom industrial hemp in medical market is projected to witness growth at a CAGR of 17.8% during the forecast period, with a market size of USD XX million in 2024. The growing acceptance of medical hemp for various conditions, along with favorable regulations, will foster steady market growth in the UK.
• France industrial hemp in medical market is projected to witness growth at a CAGR of 16.2% during the forecast period, with a market size of USD XX million in 2024. Germany industrial hemp in medical market is projected to witness growth at a CAGR of 17.2% during the forecast period, with a market size of USD XX million in 2024. Germany's expanding healthcare infrastructure and government support for hemp-based treatments, combined with rising health-conscious consumers, will drive demand. Italy industrial hemp in medical market is projected to witness growth at a CAGR of 16.4% during the forecast period, with a market size of USD XX million in 2024. Russia industrial hemp in medical market is projected to witness growth at a CAGR of 16.0% during the forecast period, with a market size of USD XX million in 2024. Spain industrial hemp in medical market is projected to witness growth at a CAGR of 16.1% during the forecast period, with a market size of USD XX million in 2024. Luxembourg industrial hemp in medical market is projected to witness growth at a CAGR of 17.1% during the forecast period, with a market size of USD XX million in 2024. Portugal industrial hemp in medical market is projected to witness growth at a CAGR of 16.8% during the forecast period, with a market size of USD XX million in 2024. Greece industrial hemp in medical market is projected to witness growth at a CAGR of 17.3% during the forecast period, with a market size of USD XX million in 2024. Rest of Europe industrial hemp in medical market is projected to witness growth at a CAGR of 15.7% during the forecast period, with a market size of USD XX million in 2024.

Asia Pacific Industrial Hemp in Medical

According to Cognitive Market Research, the global industrial hemp in medical market size was estimated at USD XX Million, out of which Asia Pacific held the market share of around 23% of the global revenue with a market size of USD XX million in 2024 and will grow at a compound annual growth rate (CAGR) of 20.5% from 2024 to 2031.

• According to Cognitive Market Research, The China industrial hemp in medical market is projected to witness growth at a CAGR of 20.0% during the forecast period, with a market size of USD XX million in 2024. China's significant investments in hemp cultivation, combined with an expanding wellness market and supportive government policies, will fuel market growth.
• Japan industrial hemp in medical market is projected to witness growth at a CAGR of 19.0% during the forecast period, with a market size of USD XX million in 2024. India industrial hemp in medical market is projected to witness growth at a CAGR of 22.3% during the forecast period, with a market size of USD XX million in 2024. India's increasing focus on traditional medicine, alongside the adoption of hemp in pain relief treatments, will significantly expand the market. South Korea industrial hemp in medical market is projected to witness growth at a CAGR of 19.6% during the forecast period, with a market size of USD XX million in 2024. Australia industrial hemp in medical market is projected to witness growth at a CAGR of 20.2% during the forecast period, with a market size of USD XX million in 2024. South East Asia industrial hemp in medical market is projected to witness growth at a CAGR of 21.5% during the forecast period, with a market size of USD XX million in 2024. Rest of Asia Pacific industrial hemp in medical market is projected to witness growth at a CAGR of 20.3% during the forecast period, with a market size of USD XX million in 2024.

South America Industrial Hemp in Medical

According to Cognitive Market Research, the global industrial hemp in medical market size was estimated at USD XX Million, out of which the Latin America held the market share of around 5% of the global revenue with a market size of USD XX million in 2024 and will grow at a compound annual growth rate (CAGR) of 17.9% from 2024 to 2031.

• According to Cognitive Market Research, The Brazil industrial hemp in medical market is projected to witness growth at a CAGR of 18.5% during the forecast period, with a market size of USD XX million in 2024. Brazil's large agricultural base and emerging medical cannabis market provide a solid foundation for industrial hemp's medical applications to grow.
• Argentina industrial hemp in medical market is projected to witness growth at a CAGR of 18.8% during the forecast period, with a market size of USD XX million in 2024. In Argentina, a combination of regulatory changes, health awareness, and interest in natural remedies will contribute to the rise of hemp-based medical products. Colombia industrial hemp in medical market is projected to witness growth at a CAGR of 17.7% during the forecast period, with a market size of USD XX million in 2024. Peru industrial hemp in medical market is projected to witness growth at a CAGR of 18.1% during the forecast period, with a market size of USD XX million in 2024. Chile industrial hemp in medical market is projected to witness growth at a CAGR of 18.2% during the forecast period, with a market size of USD XX million in 2024. Rest of Latin America industrial hemp in medical market is projected to witness growth at a CAGR of 17.0% during the forecast period, with a market size of USD XX million in 2024.

Middle East and Africa Industrial Hemp in Medical

According to Cognitive Market Research, the global industrial hemp in medical market size was estimated at USD XX Million, out of which the Middle East and Africa held the major market share of around 2% of the global revenue with a market size of USD XX million in 2024 and will grow at a compound annual growth rate (CAGR) of 18.2% from 2024 to 2031..

• The GCC Countries industrial hemp in medical market is projected to witness growth at a CAGR of 19.0% during the forecast period, with a market size of USD XX million in 2024. The GCC region’s increasing shift towards alternative treatments for pain and stress, supported by favorable regulations, will boost hemp product sales.
• Egypt industrial hemp in medical market is projected to witness growth at a CAGR of 18.5% during the forecast period, with a market size of USD XX million in 2024. South Africa industrial hemp in medical market is projected to witness growth at a CAGR of 19.2% during the forecast period, with a market size of USD XX million in 2024. In South Africa, the rise in health awareness, coupled with increased legalization efforts, will create a growing demand for industrial hemp products. Turkey industrial hemp in medical market is projected to witness growth at a CAGR of 17.7% during the forecast period, with a market size of USD XX million in 2024. Nigeria industrial hemp in medical market is projected to witness growth at a CAGR of 17.3% during the forecast period, with a market size of USD XX million in 2024. Rest of MEA industrial hemp in medical market is projected to witness growth at a CAGR of 17.2% during the forecast period, with a market size of USD XX million in 2024.

Industrial Hemp in Medical Market Analysis

Segment Analysis of Industrial Hemp in Medical Market

Based on present and future trends, the market size is estimated from 2019 to 2031. Moreover, study also provides quantitative and qualitative analysis of each type to understand the driving factors for the fastest growing type segment for Industrial Hemp in Medical market.

of Industrial Hemp in Medical analyzed in this report are as follows:

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Segment Analysis of Industrial Hemp in Medical Market

This report forecasts revenue growth at the global, regional, and country levels and provides an analysis of the latest industry trends and opportunities for each application of Industrial Hemp in Medical from 2019 to 2031. This will also help to analyze the demand for Industrial Hemp in Medical across different end-use industries. Our research team will also help acquire additional data such as Value Chain, Patent analysis, Company Evaluation Quadrant (Matrix), and much more confidential analysis and data insights.

Some of the key of Industrial Hemp in Medical are:

The above Graph is for representation purposes only. This chart does not depict actual Market share.

Industrial Hemp in Medical Source Outlook: Segment Analysis

Industrial Hemp in Medical Market Source Segment Analysis

According to Cognitive Market Research, the organic segment holds the largest share of the market due to increasing consumer preference for natural, chemical-free products. Hemp grown without pesticides or synthetic fertilizers is seen as safer and more environmentally friendly. With rising health-consciousness and growing demand for organic wellness products, the market for organic hemp-based medical solutions continues to expand.

In the industrial hemp in medical market, the conventional has been expanding at a rapid pace due to its cost-effectiveness and established farming practices. Conventional hemp cultivation allows for large-scale production, making it more accessible to a wider audience. As the demand for hemp-based products rises, the conventional farming method ensures a steady supply, facilitating the growth of this segment in the medical market.

• Conventional
• Organic

Author's Detail

Manjiri Kanhere

Senior Research Associate at Cognitive Market Research

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Manjiri Kanhere is an experienced market researcher focused on the Pharma & Healthcare industry. With over 3+ years of experience, She has worked with major pharmaceutical companies and healthcare providers, helping them to understand market trends, identify new business opportunities, and develop effective sales & marketing strategies. Her expertise lies in the ability to analyze complex data sets and deliver insights that drive business decisions. At Cognitive Market Research, she handles the market research related to Pharma and healthcare industry.

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