The global industrial hemp market is on a steady rise, expected to reach USD 18.1 billion by 2027 from USD 6.8 billion in 2022. This significant growth reflects a compound annual growth rate (CAGR) of 21.6%.
Food and Beverage Industry Leading the Charge
The increased use of hemp seeds in various food and beverage products is a major driver of the market. Consumers are finding hemp seeds in cereals, yogurts, protein powders, and even hemp milk, reflecting a growing interest in healthy and sustainable food options.
Download PDF brochure: https://www.marketsandmarkets.com/pdfdownloadNew.asp?id=84188417
Hemp Hurds: A Versatile Byproduct Finds its Place
Hemp hurds, the short fibers found in the hemp stalk, are proving to be a valuable resource. These fibers can be transformed into various products, including construction materials, animal bedding, and even furniture. Their excellent thermal and acoustic properties make them ideal for sustainable construction, while their use in other applications helps reduce agricultural waste.
Plant-Based Protein Trend Boosts Hemp Seed Demand
The growing popularity of plant-based protein sources due to the rise of veganism is another factor propelling the market. Hemp seeds are a rich source of protein, attracting health-conscious consumers.
Hemp-Infused Beverages: A New Wave of Wellness
The health benefits associated with hemp consumption are driving the demand for hemp-infused beverages. These drinks, such as hemp juice, flavored water, and hemp tea, are gaining popularity due to their nutritional value and calming properties.
Sustainable Construction Gets a Hemp Boost
Hemp fiber's strength, durability, and insulation capabilities are making it a valuable material in the construction industry. It is being used as a substitute for wood in building panels and planks, while hemp bricks offer a sustainable and energy-efficient alternative to traditional bricks.
Speak to Analyst: https://www.marketsandmarkets.com/speaktoanalystNew.asp?id=84188417
Europe: A Hotbed for Industrial Hemp Growth
The European market is expected to witness the fastest growth in the industrial hemp sector. This can be attributed to the increasing use of hemp seeds and hemp seed oil in various products, along with the growing adoption of hemp fiber in automotive and construction applications.
Key Players in the Industrial Hemp Market
Several companies are at the forefront of the industrial hemp industry, including Marijuana Company of America (US), Cronos Group (Canada), Ecofibre (Australia), and HempFlax (Netherlands). These players are driving innovation and product development, contributing to overall market growth.
The global Industrial Hemp Market research report, published by Value Market Research, is designed to offer various market framework such as market size, portion, trends, growth path, value and factors that impact the current market dynamics over the forecast period 2021-2027.
Most importantly, this report also provides the latest significant strategies adopted by major players along with their market share.The report also covers detailed competitive landscape including company profiles of key players operating in the global market.
The key players in the industrial hemp market include Agropro, All American Hemp Company, Blue Sky Hemp Ventures Ltd., CavacBiomateriaux, Green Source Organics, Hemp Foods Australia, Hemp Inc., Hemp Production Services Inc., Hemp Sense Inc., Hempco Food and Fiber Inc.,Hempro International, Manitoba Harvest Hemp Foods, Marijuana Company of America Inc., North American Hemp & Grain Co. Ltd. and Trigone Foods Inc. among others.
An in-depth view of the competitive outlook includes future capacities, key mergers & acquisitions, financial overview, partnerships, collaborations, new product launches, new product developments and other developments with information in terms of H.Q.Get more information on "Global Industrial Hemp Market Research Report" by requesting FREE Sample Copy athttps://www.valuemarketresearch.com/contact/industrial-hemp-market/download-sampleMarket DynamicsThe industrial hemp market is growing on account of increasing demand from end-use industries.
In addition of this, increasing demand of hemp CBD from healthcare sector is also boosting the growth of this market.
On the flip side, erratic production along with changes in lawsuit for industrial hemp production may hinder the market growth.This detailed market study is centered on the data obtained from multiple sources and is analyzed using numerous tools including porter’s five forces analysis, market attractiveness analysis and value chain analysis.
The latest Report released on Industrial Hemp Market Size, Share, Growth, Industry Trends, covers different industry elements and growth inclinations that help in predicting market forecast.
The report allows complete assessment of current and future scenario scaling top to bottom investigation about the market size, demand, trends, growth, revenue, statistics, major development, technological advancements, and share of key and emerging segment.
Also, the statistical survey elaborates detailed commentary on changing market dynamics that includes market growth drivers, roadblocks and challenges, future opportunities, and influencing trends to better understand Industrial Hemp market outlook.
Request to Sample PDF Brochure: https://www.databridgemarketresearch.com/request-a-sample/?dbmr=global-industrial-hemp-market Brief Overview on Industrial Hemp:Industrial hemp market is expected to reach USD 21.16 billion by 2027 growing at a growth rate of 21.02% in the forecast period 2020 to 2027.
Increasing demand of hemp based products, growing awareness regarding the benefits of recreational hemp, rising applications of hemp in different food products, increasing occurrences of chronic disorders will likely to enhance the growth of the industrial hemp market in the forecast period of 2020-2027.
Important years considered in the study are:Historical year – 2010-2019; Base year – 2020; Forecast period– 2021 to 2027 List of Key Players Profiled in the study includes market overview, Market Share, business strategies, Development activities, and SWOT analysis:Ecofibre, Hemp Inc, GenCanna, HempFlax Group B.V., Konoplex, Hemp Oil Canada Inc, BAFA NEU GmbH, Hempoland, Dun Agro Hemp Group., Colorado Hemp Works, LLC, South Hemp Tecno, Plains Industrial Hemp Processing Ltd., MH medical hemp What does the Report Provide?The market report offers a comprehensive analysis of various factors such as the key drivers, and restraints that are likely to impact the market growth in upcoming years.
Global Industrial Hemp Market OverviewThe Global Industrial Hemp Market report draws accurate insights by examining the latest and prospective industry trends, helping the readers recognize the products and services that are boosting revenue growth and profitability.
The study performs a detailed analysis of all the significant factors impacting the market on a global and regional scale, including drivers, constraints, threats, challenges, prospects, and industry-specific trends.
Additionally, the report cites worldwide certainties and endorsements, along with a downstream and upstream evaluation of leading participants.Market Size – USD 4.63 billion in 2018, Market Growth - CAGR of 13.7%, Market Trends – Increasing health awareness among consumersCheck out the Sample Report here: https://www.reportsanddata.com/sample-enquiry-form/1372The Industrial Hemp market analysis is intended to provide all participants and vendors with pertinent specifics about growth aspects, roadblocks, threats, and lucrative business opportunities that the market is anticipated to reveal in the coming years.
This intelligence study also encompasses the revenue share, market size, production capacity, and rate of consumption to draw insights pertaining to the rivalry to gain control of a large portion of the market share.Leading Players in the Industrial Hemp Market: CBD Biotechnology Company Limited, Marijuana Company of America Inc., Botanical Genetics LLC, HempMeds Brasil, Terra Tech Corp, Industrial Hemp manufacturing LLC, American Hemp, Plains Industrial Hemp Processing Limited, Hemp Food Australia, Blue Sky Hemp Ventures Limited, and Hemp Oil Canada among others.Competitive landscapeThe Industrial Hemp Industry is extremely competitive and consolidated because of the existence of several established companies that are adopting different marketing strategies in order to increase their market share.
The vendors are gradually expanding their focus on product personalization by way of customer interaction.Industrial Hemp Market segment by Regions/Countries: United States, Europe, China, Japan, Southeast Asia, India, Central & South America.Go For Interesting Discount Here: https://www.reportsanddata.com/discount-enquiry-form/1372Product Type Outlook (Volume, Kilo Tons; 2016-2026 and Revenue, USD Million; 2016-2026)SeedsStalksFibersOthersSource Outlook (Volume, Kilo Tons; 2016-2026 and Revenue, USD Million; 2016-2026)Conventional (Natural)OrganicApplications Outlook (Volume, Kilo Tons; 2016-2026 and Revenue, USD Million; 2016-2026)AutomotiveFood & BeveragesTextilesConstruction MaterialsCosmeticsAnimal FeedOthersTo buy this report on the Industrial Hemp market, click here: https://www.reportsanddata.com/checkout-form/1372Points Covered in The Report:The pivotal aspects considered in the Global Industrial Hemp Market report consist of the leading competitors functioning in the global sector.The report also encompasses company profiles prominently positioned in the global market.The production, sales, corporate strategies, and the technological capabilities of leading manufacturers are also contained within the report.The driving factors for the growth of the Global Industrial Hemp Market are explained exhaustively, along with an in-depth account of the end-users in the industry.The report also explains critical application areas of the global sector, curating an accurate description of the market to the readers/users.The report undertakes a SWOT analysis of the market.
In the final section, the report features the opinions and views of the industry experts and professionals.
The global industrial hemp market size is expected to reach USD 15.26 billion by 2027, exhibiting a revenue-based CAGR of 15.8% over the forecast period, according to a new report published by Radiant Insights, Inc.Growing preference for eco-friendly products in thermal insulation, coupled with rising use of the product as fiberglass alternative is expected to drive the growth.
Rising consumer preference for green buildings owing to increasing environment pollution is expected to drive the demand for hemp-based construction materials in the forthcoming years.
In addition, rising consumption of hempcretes-a concrete made from shives and lime-in Europe is expected to further propel the demand for industrial hemp over the forecast period.
In addition, use of hemp oil in hand and body lotions and UV skin protectors owing to the high and well-balanced fatty acid content of hemp, is expected to surge the demand.
Further key findings from the report suggest: • Seeds segment accounted for 27.3% of the value share in 2019 owing to extensive application of the product in pharmaceuticals, nutritional supplements and other medicinal and therapeutic products • The demand for industrial hemp in personal care industry is expected to expand at a CAGR of 18.8% in terms of revenue from 2020 to 2027 as it reduces skin discomfort by soothing and restoring dry or damaged skin • Animal care industry accounted for 14.9% of revenue share in 2019 owing to the growing consumption of hemp shives and leaves in animal bedding due to its low dust properties which makes it highly beneficial for animals facing respiratory issues • The North America industrial hemp market is expected to expand at a CAGR of 20.4% from 2020 to 2027 in terms of value owing to the legalization of hemp production coupled with the rising demand in the food and supplements, cosmetics, and personal care industries • Parkland Industrial Hemp Growers Cooperative Ltd. and Terra Tech Crop are some of the major players in the market involved in R activities to develop different varieties of industrial hemp Browse Full Research Report with TOC @ https://www.radiantinsights.com/research/industrial-hemp-market Table of Contents Chapter 1.
In addition to over extensive database of reports, experienced research coordinators also offer a host of ancillary services such as, research partnerships/ tie-ups and customized research solutions.
