Global Industrial Hemp
Market Report
2024
As per Cognitive Market Research's latest published report, the Global Industrial Hemp market size was $68,960.32 Thousand in 2015 and it is forecasted to reach $3,37,066.42 Thousand by 2027. Industrial Hemp Industry's Compound Annual Growth Rate will be 16.99% from 2023 to 2030.
The base year for the calculation is 2023 and 2019 to 2023 will be historical period. The year 2024 will be estimated one while the forecasted data will be from year 2025 to 2031. When we deliver the report that time we updated report data till the purchase date.
PDF Access: Password protected PDF file, Excel File Access: Quantitative data, PPT Report Access: For the presentation purpose, Cloud Access: Secure Company Account Access.
Share your contact details to receive free updated sample copy/pages of the recently published edition of Industrial Hemp Market Report 2024.
As per Cognitive Market Research's latest published report, the Global Industrial Hemp market size was $68,960.32 Thousand in 2015 and it is forecasted to reach $3,37,066.42 Thousand by 2027.Industrial Hemp Industry's Compound Annual Growth Rate will be 16.99% from 2023 to 2030.
Base Year | 2023 |
Historical Data Time Period | 2019-2023 |
Forecast Period | 2024-2031 |
Global Industrial Hemp Market Sales Revenue 2030 | $ 11.75 Billion |
Global Industrial Hemp Market Compound Annual Growth Rate (CAGR) for 2024 to 2031 | 17.45% |
Market Split by Source |
|
Market Split by Application |
|
Market Split by Product Type |
|
List of Competitors |
|
Regional Analysis |
|
Country Analysis |
|
Key Qualitative Information Covered |
|
Report scope is customizable as we have a huge database of Industrial Hemp industry. We can deliver an exclusive report Edition/Consultation as per your data requirements. Request for your Free Sample Pages.
Industrial Hemp Market is Segmented as below. Particular segment of your interest can be provided without any additional cost. Download the Sample Pages!
Industrial Hemp is extracted from a plant species known as Cannabis sativa grown for industrial purposes. This industrial hemp is produced in the form of seeds, fibre and shives. The industrial hemp has low concentrations of (THC) or Tetrahydrocannabinol and (CBD) Cannabidiol. This concentrations of CBD and THC helps in elimination of psychoactive side-effects. Hemp is high in fibre content and has low amount of tetrahydrocannabinol less than 0.3%.
The industrial hemp market has higher share and immense opportunities for the future growth, because of wide range applications of industrial hemp in various industrial sectors, propels the growth of market. The market has strong presence in the European, Asia-Pacific region, North America in the US due to regulations imposed on the hemp production and lot of health benefits associated with it and its wide variety use in various sectors, boost the growth of market. The grower of the hemp must take licence or permission from Drug Enforcement Agency in the US for the production of industrial hemp.
In the Asia-Pacific region, China has reported as the largest producer of hemp fibre and China grows hemp crop to half of the world’s supply. The hemp crop in the European market has wide range applications due to its eco-friendly property, strong durable, high yield of natural fibres, valuable crop for bio-based economy. It has applications in automotive industrial sectors, hemp fibres and seeds used in pulp and paper industry, as insulation material, bio composites, food products, hemp lime and shives used in construction, healthcare applications due to high nutritional value. This benefit associated with the hemp seeds, oil, shives led to high demand and tonnes of hemp crop production in this region, propels the market revenue.
According to the Farm Bill 18 known as Agricultural Improvement Act of 2018, United State Department of Agriculture published rules regarding production of hemp such as farmers must always ensure the low concentration of THC level, which is below 0.3%, conducting proper sampling method, farmers should dispose off the hemp crops, if not compliant according to standards set by Drug Enforcement Agency. This regulation imposed by the authorities, increased production and demand of hemp in the market.
The key players are gaining significant market share and there is higher demand for industrial hemp across all regions has immense potential for further growth of the industrial hemp market due to regulations approved by USDA in the US and Canada, farmers are preferring hemp production than other crops, as these are affordable and has many applications in healthcare industry, food and textile industry. These factors boost the market share across all regions.
The advantages of hemp are that it is considered as an excellent rotational crop for other traditional crops, as it eliminates or reduces risk of weeds, outbreak of insects, which destroy the crops, it is one of the fastest growing plant. Hemp provides aeration to the soil and improve its quality through its strong root system. After hemp production in the soil, farmers get higher quantity of other crops due to improved quality of soil such as grains.
The industrial hemp market is segmented into form such as seed, fibre and shives, its type is classified into hemp seed, hemp seed oil, CBD hemp oil, hemp fibre, its source of hemp crop bifurcated into organic or conventional and it has wide range applications in the pharmaceutical sector, food and beverage, textile industry.
In 2018 Farm Bill was passed, the law made hemp production and distribution legal under federal law and establishes a framework of shared oversight by federal, state, and Indian tribe authorities. The 2018 Farm Bill establishes USDA’s “sole authority” to issue guidelines and regulations regarding the production of hemp but explicitly states that the authority of FDA and the Secretary of Health and Human Services under the Federal Food, Drug, and Cosmetic Act (FDCA)6 and section 351 of the Public Health Service Act7 are unaffected by the new law. With the passage of the 2018 Farm Bill, FDA Commissioner Scott Gottlieb acknowledged the “potential opportunities” and the need for an “efficient regulatory framework” to govern cannabis products, but he emphasized that FDA would continue to take enforcement action when needed to protect the public health. Implementation will require rule making by the USDA, the drafting or revising of existing state and tribal laws, and the development and approval of hemp production plans. The 2018 Farm Bill defines hemp as Cannabis sativa L. and “any part of that plant, including the seeds thereof and all derivatives, extracts, cannabinoids, isomers, acids, salts, and salts of isomers,” with no more than a 0.3 percent concentration of THC. Any cannabis plant that contains more than 0.3 percent THC falls outside the scope of the new law. Hemp is a fast growing and easily cultivated plant that has wide-ranging applications, including the production of fibers, paper, construction materials, and FDA-regulated products such as foods, nutritional supplements, cosmetics, and the recently approved drug, Epidiolex (cannibidiol) Oral Solution. The legalization allowed farmers in cities or states with low hemp processors travel to places with countless licensed processors. Therefore, this legalization of hemp enhanced the demand for industrial hemp market due to its easy availability and transportation.
We have various report editions of Industrial Hemp Market, hence please contact our sales team and author directly to obtain/purchase a desired Edition eg, Global Edition, Regional Edition, Country Specific Report Edition, Company Profiles, Forecast Edition, etc. Request for your Free Sample PDF/Online Access.
The company is situated in Australia. The company operates in three business lines namely hemp-derived CBD, high-tech hemp-fiber applications and hemp foods. The company's products include cannabinoid (CBD) oil and nutraceuticals as well as hemp derived food and textiles. Hemp Black distributes face masks to retail pharmacies under the Ananda Professional brand in the United States, and direct to consumers. From July 2020 Hemp Black is leveraging the resources of Ananda Food to distribute product in Australia. Ananda Food supplies hemp seed oil to Ananda Health as an input to the manufacture of nutraceuticals. Ananda Food, Hemp Black and Ananda Health have collaborated to develop a new range of nutraceuticals based on hemp-seed or hempfibre derived carbon for sale in US retail pharmacies
This industrial production chain has its origins in sustainable agriculture. Through contract farming with crop farmers in the Netherlands and Germany HempFlax annually obtains fresh natural fibre, particularly fibre hemp. By marketing renewable resources HempFlax is a leader of this innovative industrial development. By producing hemp wood for paper, construction material, saw dust and many other environmentally damaging consumer goods, HempFlax also discourages unnecessary logging and deforestation. The application of industrial hemp produced by Hempflax BV is construction, industrial applications, animal care, nutraceuticals, horticulture, and genetics & cultivation.
Top Companies Market Share in Industrial Hemp Industry: (In no particular order of Rank)
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.
Region and country analysis section of Industrial Hemp Industry Analysis has been segmented into 5 major region such as North America, Europe, Asia Pacific, Middle East & Africa ,and Latin America (along with respective major contributing countries) and provides the revenue share, current trends.
The base years considered for all the estimations by analyzing trends and growth rate will help you gain an in-depth understanding of the conclusions provided in this report. This report also includes figures, graphs, pie charts, tables and bar graphs that explain the data analysis based on current trends at the country level as well as key regions. This research report also focuses on assessing factors such as profit, product price, capacity, production, supply demand market growth rate along with others to create a clear picture on the future prospects of Industrial Hemp market.
The current report Scope analyzes Industrial Hemp 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
The above graph is for illustrative purposes only.
To learn more about geographical trends request the free sample pages.
Get Free Sample
Global Industrial Hemp Market Report 2024 Edition talks about crucial market insights with the help of segments and sub-segments analysis. In this section, we reveal an in-depth analysis of the key factors influencing Industrial Hemp Industry growth. Industrial Hemp market has been segmented with the help of its Source, Application Product Type, and others. Industrial Hemp market analysis helps to understand key industry segments, and their global, regional, and country-level insights. Furthermore, this analysis also provides information pertaining to segments that are going to be most lucrative in the near future and their expected growth rate and future market opportunities. The report also provides detailed insights into factors responsible for the positive or negative growth of each industry segment.
To control weeds and insects, which damage crops, farmers used herbicides and fertilizers to control growth of insects or pest. Conventional cultivation of hemp plants is grown for mass market products such textile and bioplastics, it grows taller and faster, applications in many industrial sectors. In 2015, the Conventional Revenue (USD Thousand) was USD 44,264.30 Thousand and it expected to reach at USD 2,14,856.22 Thousand in 2027
The hemp plant uses organic farming technique and organic compost in soil, which improves the quality of soil. The continuous shedding of leaves through growing season adds aeration and moisture increasing yielding capacity of hemp plants. Organic compost and cultivation method of hemp plants contribute in maintenance of soil, prevents soil erosion, organic cultivation method of hemp plants include rotation cycle of crops to improve nutrient level and yielding capacity of soil and main crop. The extensive root system of hemp plant and its benefits helps in maximum nutrient extraction from the soil. This organic cultivation does not use any chemicals or fertilizers because manure used in the organic cultivation helps to control pest or insects, natural fibers in the hemp plant produce higher yield and is eco-friendly method available at affordable cost. The presence of THC, proteins and other nutrients helps in maintenance of hemp plant and its capacity. In 2015, the Organic Revenue (USD Thousand) was USD 24,696.02 Thousand and it expected to reach at USD 1,22,210.20 Thousand in 2027
The above Chart is for representative purposes and does not depict actual sale statistics. Access/Request the quantitative data to understand the trends and dominating segment of Industrial Hemp Industry. Request a Free Sample PDF!
Hemp plant spun into plant or bast fibres are used in the manufacturing of clothing, apparel, shoes, accessories, ropes in textile industry. These bast fibres are used to make woven fibre clothing, which are blended with silk, cotton, flax to make fabrics. Hemp fibres are strong durable and hypo-allergenic, resistant to UV radiation. In 2015, the Industrial Hemp Revenue (USD Thousand) in Textiles was USD 21,618.78 Thousand, and it will reach USD 1,03,556.01 Thousand in 2027.
Hemp seed and fibers have high nutritional value, high-protein and fiber content, used as a dietary supplement. It is used as hemp milk in beverages, hemp seeds grounded to dried sprout powder. Hemp oil is used in salad dressings, as an ingredient, hemp seeds are used to prepare food dishes such as snack bar, yogurt, baked food, bread products. The hemp seeds are high source of nutrition includes high quantity of proteins, increasing demand of plant proteins, nutrition food products, rising awareness among consumers, propelled the demand for hemp seeds in the market. Hemp seeds has essential amino and fatty acids, phenyl propionamides which has anti-neuroinflammatory effects. It is source of iron, un-saturated fatty acid, dietary-fiber, minerals, vitamins, linolenic acid, phosphorous, carbohydrates, dietary mineral manganese, magnesium. Hemp is used as a functional food ingredient in the food and beverage industry. The use of hemp seed or oil in nutritional food products. The leaves of the hemp plant are used in food dish to consume as a leafy vegetable in salads, juice. These high nutritional value increases the demand of industrial hemp in food and beverage sector. In 2015, the Industrial Hemp Revenue (USD Thousand) in Food & Beverages was USD 14,749.31 Thousand, and it will reach USD 73,960.05 Thousand in 2027.
Hemp plants or hemp oil is largely used in cosmetic or personal care products such as in creams, moisturizer, shampoo, it contains polyunsaturated fatty acid, linolenic acid, hemp oil is used incorporated in the skin care products prevent ageing, improves acne or skin condition, dermatological disease, it contains low amount of tetrahydrocannabinol, which helps in improving skin-related acne or health problems. The hemp seed oil contains omega 6 fatty acids, which promotes skin and cell growth. The soft skin and other benefits contributed in rising demand for industrial hemp in personal care or cosmetic industry. In 2015, the Industrial Hemp Revenue (USD Thousand) in Personal care products was USD 11,757.30 Thousand, and it will reach USD 59,755.75 Thousand in 2027.
Hemp can be refined into various commercial products which has wide ray of applications including clothing, biodegradable plastics, paint, insulation, biofuel, food, and animal feed. The inner two fibers of the plant are woodier and typically have industrial applications, such as mulch, animal bedding, and litter. Hemp shives are widely used for animal bedding. About 95% of hurds were used as animal bedding, while almost 5% was used in the building sector. In 2015, the Industrial Hemp Revenue (USD Thousand) in Animal Care was USD 8,764.56 Thousand, and it will reach USD 42,534.89 Thousand in 2027.
The hemp seeds have high nutrition value includes high quantity of proteins, increasing demand of plant proteins, nutrition food products, rising awareness among consumers, propelled the demand for industrial hemp plants in the market. Hemp seeds has essential amino and fatty acids, phenyl propionamides which has anti-neuroinflammatory effects. It is source of iron, un-saturated fatty acid, dietary-fibre, minerals, vitamins, phosphorous, carbohydrates, dietary mineral manganese, magnesium. Hemp seed is used in reducing constipation, cardiovascular benefits, immunomodulation, reduces dermatological, gastrointestinal diseases, this hemp seed extract shows antimutagenic, antioxidant, anti-ageing side-effects, it used to relieve pain, prevent skin related issues. It also reduces risk of epilepsy and psychotic side-effects. This benefit plays a great role in increasing demand of industrial hemp plants in pharmaceutical sector. In 2015, the Industrial Hemp Revenue (USD Thousand) in Pharmaceuticals was USD 5,167.64 Thousand, and it will reach USD 25,569.91 Thousand in 2027.
The above Graph is for representation purposes only. This chart does not depict actual Market share.
To learn more about market share request the free sample pages.
Get Free Sample
Hemp is a plant produced from species known as Cannabis sativa plant, cultivated in agricultural land for various industrial uses or application in end-user sectors such as food and beverage, textile, pharmaceutical, construction, paper industry, personal care and cosmetic industries. The hemp crop grown in the agricultural land is provided in the market in the form of seed. The hemp seeds are high source of nutrition includes high quantity of proteins, increasing demand of plant proteins, nutritional food products, rising awareness among consumers, propelled the demand for hemp seeds in the market. Hemp seeds has essential amino and fatty acids, phenyl propionamides, which has anti-neuroinflammatory effects. It is source of iron, un-saturated fatty acid, dietary-fibre, minerals, vitamins, phosphorous, carbohydrates, dietary mineral manganese, magnesium. Hemp seed oil used in food and beverage industry in food preparations such as snacks bar, bread, yogurt, cookies. Hemp seed is used in reducing constipation, cardiovascular benefits, immunomodulation, reduces dermatological, gastrointestinal diseases, this hemp seed extract shows antimutagenic, antioxidant, anti-ageing side-effects. It also reduces risk of epilepsy and psychotic side-effects. The technological advancement in hemp seed protein and its nutritional benefits boost the demand for hempseed in the market. In 2015, the Industrial Hemp Revenue (USD Thousand) in Seeds was USD 36,175.95 Thousand, and it will reach USD 1,73,648.90 Thousand in 2027.
Industrial hemp plant is extracted in the form of fibers made from plant species called as Cannabis sativa. The fibers have various end-user application in industrial sectors. The hemp plants spun into fibers for variety of end-use items such as used in textile industries, paper, rope, clothing, plastic, paint, insulation, biofuel, food, animal feed. Hemp is blended with other fibers such as flax, cotton, silk for making woven fabrics, which is strong, durable, used in construction of buildings as insulation material in replacement of wood, which saves natural resources and is eco-friendly or sustainable to the environment. In 2015, the Industrial Hemp Revenue (USD Thousand) in Fiber was USD 22,615.23 Thousand, and it will reach USD 1,14,665.15 Thousand in 2027
The shives are form of hemp plant used in animal bedding and it is the core of the stem. Shives are by-product of fiber production. Shives are used in paper making, particle board, in construction composites. The hemp shives are organic raw material used for the production of insulation boards, use of shives in coating along with water-repellent thin film and silica, which provides benefits in humid conditions. The shives are in higher demand due to its various applications in textile, construction sector. In 2015, the Industrial Hemp Revenue (USD Thousand) in Shives was USD 10,169.15 Thousand, and it will reach USD 48,752.37 Thousand in 2027.
Senior Analyst at Cognitive Market Research
I am working as a Senior Analyst with Cognitive Market Research in the areas of Industry Survey and Market Research/Analytics. I collaborate with CXOs, VPs, and other senior executives to understand their data needs and provide solutions and business strategy building.
I am working as a Senior Analyst with Cognitive Market Research in the areas of Industry Survey and Market Research/Analytics. I collaborate with CXOs, VPs, and other senior executives to understand their data needs and provide solutions and business strategy building. I fulfill data requirements with thorough research and analytics. ME and My research team provide intelligence on industry stats, market structure, company profiles/Competition Analysis, Forecast Mapping, and Recently started providing the COVID-19 Impact Analysis.
Specialties: Industry research, Company analysis, Location Strategy, Tech Research, Change Management, Process Improvement, Peer Group Benchmarking, Startup Ecosystem, Crypto Research, COVID19 Impact Analysis, etc.
Please note, we have not disclose, all the sources consulted/referred during a market study due to confidentiality and paid service concern. However, rest assured that upon purchasing the service or paid report version, we will release the comprehensive list of sources along with the complete report and we also provide the data support where you can intract with the team of analysts who worked on the report.
https://www.epa.gov/regulatory-information-sector/construction-sector-naics-23
https://www.usace.army.mil/Missions/Civil-Works/Engineering-and-Construction/
https://www.abs.gov.au/statistics/industry/building-and-construction
https://business.gov.au/planning/industry-information/construction-industry
https://www.usitc.gov/research_and_analysis/tradeshifts/2021/footwear
Disclaimer:
Source | Conventional, Organic |
Application | Textiles, Food & Beverages, Personal care products, Animal Care, Pharmaceuticals, Others |
Product Type | Seeds, Fiber, Shives |
List of Competitors | GoFire, ICC, PIHG, IHM, HempFlax, Marijuana Gum, Medical Marijuana Inc, Notis Global Inc. (NGBL), Jetty Extracts, CannaKorp |
This chapter will help you gain GLOBAL Market Analysis of Industrial Hemp. Further deep in this chapter, you will be able to review Global Industrial Hemp Market Split by various segments and Geographical Split.
Chapter 1 Global Market Analysis
Global Market has been segmented on the basis 5 major regions such as North America, Europe, Asia-Pacific, Middle East & Africa, and Latin America.
You can purchase only the Executive Summary of Global Market (2019 vs 2024 vs 2031)
Global Market Dynamics, Trends, Drivers, Restraints, Opportunities, Only Pointers will be deliverable
Chapter 2 North America Market Analysis
Chapter 3 Europe Market Analysis
Chapter 4 Asia Pacific Market Analysis
Chapter 5 South America Market Analysis
Chapter 6 Middle East and Africa Market Analysis
Only Available with Corporate User License
Chapter 7 Top 10 Countries Analysis (Only Available with Corporate User License)
Competitor's Market Share and Revenue (Subject to Data Availability for Private Players)
Chapter 8 Competitor Analysis (Subject to Data Availability (Private Players))
(Subject to Data Availability (Private Players))
Data Subject to Availability as we consider Top competitors and their market share will be delivered.
Data Subject to Availability as we consider Top competitors and their market share will be delivered.
Data Subject to Availability as we consider Top competitors and their market share will be delivered.
Data Subject to Availability as we consider Top competitors and their market share will be delivered.
Data Subject to Availability as we consider Top competitors and their market share will be delivered.
Data Subject to Availability as we consider Top competitors and their market share will be delivered.
Data Subject to Availability as we consider Top competitors and their market share will be delivered.
Data Subject to Availability as we consider Top competitors and their market share will be delivered.
Data Subject to Availability as we consider Top competitors and their market share will be delivered.
Data Subject to Availability as we consider Top competitors and their market share will be delivered.
Chapter 9 Qualitative Analysis (Subject to Data Availability)
Segmentation Source Analysis 2019 -2031, will provide market size split by Source. This Information is provided at Global Level, Regional Level and Top Countries Level The report with the segmentation perspective mentioned under this chapters will be delivered to you On Demand. So please let us know if you would like to receive this additional data as well. No additional cost will be applicable for the same.
Chapter 10 Market Split by Source Analysis 2019 -2031
The report with the segmentation perspective mentioned under this chapters will be delivered to you On Demand. So please let us know if you would like to receive this additional data as well. No additional cost will be applicable for the same.
Chapter 11 Market Split by Application Analysis 2019 -2031
The report with the segmentation perspective mentioned under this chapters will be delivered to you On Demand. So please let us know if you would like to receive this additional data as well. No additional cost will be applicable for the same.
Chapter 12 Market Split by Product Type Analysis 2019 -2031
This chapter helps you understand the Key Takeaways and Analyst Point of View of the global Industrial Hemp market
Chapter 13 Research Findings
Here the analyst will summarize the content of entire report and will share his view point on the current industry scenario and how the market is expected to perform in the near future. The points shared by the analyst are based on his/her detailed in-depth understanding of the market during the course of this report study. You will be provided exclusive rights to interact with the concerned analyst for unlimited time pre purchase as well as post purchase of the report.
Why Conventional have a significant impact on Industrial Hemp market? |
What are the key factors affecting the Conventional and Organic of Industrial Hemp Market? |
What is the CAGR/Growth Rate of Textiles during the forecast period? |
By type, which segment accounted for largest share of the global Industrial Hemp Market? |
Which region is expected to dominate the global Industrial Hemp Market within the forecast period? |
Segmentation Level Customization |
|
Global level Data Customization |
|
Region level Data Customization |
|
Country level Data Customization |
|
Company Level |
|
Additional Data Analysis |
|
Additional Qualitative Data |
|
Additional Quantitative Data |
|
Service Level Customization |
|
Report Format Alteration |
|
Published Report Editions
are Just a Tip of an Iceberg
Access the Complete Database of
Industrial Hemp Market
Request Sample