Industrial Hemp Market was valued at USD 6.18 Billion in 2021, and it is expected to reach USD 65.79 Billion by 2029, exhibiting a CAGR of 34.4 % during the forecast period (2022-2029).
Industrial Hemp Market Overview:
Industrial Hemp Market 2022 by Manufacturers, Regions, Type and Application, Forecast to 2029, published by Maximize Market Research, is the culmination of thorough primary and secondary research. The study completely examines analysed insights in light of the market, as well as its ever-changing trends, industry environment, and all of the market's leading elements. This research approach was used to investigate the global Industrial Hemp Market, and the results were logically presented in this report.
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Industrial Hemp Market Scope:
Industrial Hemp Market 2022 research report 2029 includes crucial statistics and analytical insights to provide a comprehensive understanding of the market size, share, growth, trend, demand, top player and industry profile, opportunities, value cycle, end-users, technology, types, and application. The research will also include accessible opportunities in micro markets for stakeholders to invest, as well as a full analysis of the competitive landscape and significant competitors' product offers.
The qualitative and quantitative data provided in the Industrial Hemp Market study can help decision-makers understand which market segments, regions are expected to grow at higher rates, factors affecting the market, and key opportunity areas. The report also includes the competitive landscape of key players in the industry along with emerging trends in the Industrial Hemp Market.
Industrial Hemp Market Segmentation:
by Type
• Hemp Seed
• Hemp Seed Oil
• CBD Hemp Oil
• Hemp Fiber
The market is divided into hemp seed, hemp seed oil, CBD hemp oil, and hemp fibre based on kind. Throughout the projection period, the hemp fibre sector is anticipated to rule the market. Both bast (outer, long fibres) and hurds (inner, short fibres) are forms of fibre found in hemp. The other two types into which the bast fibres are further classified are primary bast fibres, which can be up to 50 mm long and contain between 50 and 70% cellulose, and secondary bast fibres, which are only around 2 mm long. Since they can be spun and knitted, bast fibres are mostly used in the textile industry.
by Application
• Food, Beverages
• Personal Care Products
• Textiles
• Pharmaceuticals
• Other
The market is divided into categories for food, drinks, textiles, personal care items, medicines, and other products based on application. Forecasts indicate that the food industry will rule the industrial hemp sector. This is because hemp is used to make foods that are rich in linoleic and linolenic acid, vitamin E, and minerals including calcium, zinc, iron, salt, potassium, and magnesium. The most popular ways to consume hemp are as raw or roasted seeds. It can be found in salads, smoothies, yoghurt, and cereals.
by Source
• Organic
• Conventional
The market is divided into organic and conventional products based on the source. The industrial market was dominated by conventional hemp products because they were less expensive than organic hemp products. Furthermore, while not being certified, hemp grown for commercial purposes is rich in vitamins and other essential fatty acids.
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Industrial Hemp Market Key Players:
• Valley Bio Ltd.
• Hemp, Inc.
• Terra Tech Corp.
• American Hemp
• Ecofiber Industries Operations
• Botanical Genetics, LLC
• Marijuana Company of America, Inc.
• HempMedsBrasil
• CBD Biotechnology Co.
• Plains Industrial Hemp Processing Ltd.
• HempFlax B.V.
• Industrial Hemp Manufacturing, LLC
• Boring Hemp Company
• American Cannabis Company, Inc.
• Parkland Industrial Hemp Growers Cooperative Ltd.
Industrial Hemp Market Regional Analysis:
Geographically, this report is segmented into several key countries, with market size, growth rate, import and export of Industrial Hemp Market in these countries, which covering North America, U.S., Canada, Mexico, Europe, UK, Germany, France, Spain, Italy, Rest of Europe, Asia Pacific, China, India, Japan, Australia, South Korea, ASEAN Countries, Rest of APAC, South America, Brazil, and Middle East and Africa.
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COVID-19 Impact Analysis on Industrial Hemp Market:
COVID-19 has a thorough impact on the Industrial Hemp Market in North America, Asia Pacific, the Middle East, Europe, and South America, according to the report. During this crisis, the paper presents a comprehensive examination of alternatives, challenging conditions, and difficult situations in the Industrial Hemp Market. The study briefly discusses the benefits as well as the challenges of the COVID-19 in terms of funding and market expansion. In addition, the study includes a collection of principles that are intended to assist readers in deciding and planning a corporate strategy.
Key Questions answered in the Industrial Hemp Market Report are:
- Which product segment grabbed the largest share in the Industrial Hemp Market?
- How is the competitive scenario of the Industrial Hemp Market?
- Which are the key factors aiding the Industrial Hemp Market growth?
- Which region holds the maximum share in the Industrial Hemp Market?
- What will be the CAGR of the Industrial Hemp Market during the forecast period?
- Which application segment emerged as the leading segment in the Industrial Hemp Market?
- Which are the prominent players in the Industrial Hemp Market?
- What key trends are likely to emerge in the Industrial Hemp Market in the coming years?
- What will be the Industrial Hemp Market size by 2029?
- Which company held the largest share in the Industrial Hemp Market?
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