The global industrial hemp market is projected to grow from USD 4.6 billion in 2019 to USD 26.6 billion by 2025, recording a CAGR of 34%.
The study covers the industrial hemp market across segments. It aims at estimating the market size and its growth potential across different segments such as application, type, source, and region. The study also includes an in-depth competitive analysis of key players in the market; along with their company profiles, key observations related to product and business offerings, recent developments, and key market strategies.
Increasing legalization in the cultivation of industrial hemp and functional properties of hemp seed and hemp seed oil are projected to drive the growth of the industrial hemp market
The industrial hemp market is driven by factors such as increasing legalization in the cultivation of industrial hemp, functional properties of hemp seed and hemp seed oil, and their increased use in different food applications, and an increasing number of chronic diseases.
Hemp fiber segment dominates the industrial hemp market throughout the forecasted period
Hemp fiber is used majorly in the textile and pulp & paper industry, due to its long and strong fibers as compared to cotton. Furthermore, being a renewable source material, its application has been increasing in many diverse industries such as construction, animal bedding, agriculture, furniture, and automobile. Additionally, its usage to obtain biofuels and bioplastics has been expected to increase its demand in the coming years.
The organic segment is projected to grow at a higher growth rate during the forecast period
Organic hemp is grown under the strict regulations and guidelines provided by organic certification bodies. Organically certified hemp ensures the consumers that it is produced under strict guidelines and does not contain any pesticides and fertilizers residues. Organic hemp is used majorly in food, beverages, and pharmaceuticals products. Mostly, certified organic hemp seeds are preferred by consumers as they believe that certified hemp seeds have better safety and quality. The growing trust towards the organically cultivated hemp products is projected to drive the demand for organic hemp products significantly.
The Asia Pacific holds the largest market share in 2018
Asia Pacific accounted for the largest market share in 2018. This dominance is attributed to the extensive production and consumption of hemp fiber in the textile and paper industry. Furthermore, due to the booming market for cosmetics and personal care products in the Asia Pacific region and legalization of industrial hemp in food supplements is estimated to drive the market growth.
The industrial hemp market comprises major players such as Hempco (Canada), Ecofibre (Australia), Hemp Inc. (US), GenCanna (US), HempFlax BV (Netherlands), Konoplex Group (Russia), Hemp Oil Canada (Canada), BAFA (Germany), Hemp Poland (Poland), Dun Agro (Netherlands), Colorado Hemp Works (US), Canah International (Romania), South Hemp Tecno (Italy), Plains Industrial Hemp Processing (Canada), and MH Medical Hemp (Germany). The study includes an in-depth competitive analysis of these players in the industrial hemp market, with their company profiles, recent developments, and the key market strategies.
Key Benefits of Buying the Report
The report will help market leaders/new entrants in this market with information on the closest approximations of the revenue numbers for the overall industrial hemp market and sub-segments. This report will help stakeholders understand the competitive landscape and gain more insights to position their businesses better and to plan suitable go-to-market strategies. The report will also help the stakeholders to understand the pulse of the market and will provide them with information on key market drivers, restraints, challenges, and opportunities.
1 Introduction 1.1 Objectives of the Study 1.2 Market Definition 1.3 Study Scope 1.4 Periodization Considered for the Study 1.5 Currency Considered 1.6 Volume Unit Considered 1.7 Stakeholders
2 Research Methodology 2.1 Research Data 2.2 Market Size Estimation 2.3 Data Triangulation 2.4 Assumptions for the Study 2.5 Limitations of the Study
3 Executive Summary
4 Premium Insights 4.1 Attractive Opportunities in the Industrial Hemp Market 4.2 Industrial Hemp Market: Major Regional Sub-markets 4.3 Asia Pacific: Industrial Hemp Market, By Key Type & Country 4.4 Industrial Hemp Market, By Type & Region 4.5 Industrial Hemp Market, By Application 4.6 Industrial Hemp Market, By Source & Region
5 Market Overview 5.1 Introduction 5.2 Market Dynamics 5.2.1 Drivers 18.104.22.168 Increasing Legalization in the Cultivation of Industrial Hemp 22.214.171.124 Functional Properties of Hemp Seed and Hemp Seed Oil, and Their Increased Use in Different Food Applications 126.96.36.199 Increasing Number of Chronic Diseases 5.2.2 Restraints 188.8.131.52 Complex Regulatory Structure for the Usage of Industrial Hemp 5.2.3 Opportunity 184.108.40.206 New Product Developments From Industrial Hemp 5.2.4 Challenges 220.127.116.11 Lack of Viable Availability of Seeds for the Cultivation of Industrial Hemp 18.104.22.168 Lack of Processing Facilities and Planting & Harvesting Equipment 5.3 Value Chain
6 Regulatory Framework 6.1 Regulations in North America 6.1.1 US 6.1.2 Canada 6.2 Regulation of Industrial Hemp in Europe 6.3 Regulation of Industrial Hemp in the Asia Pacific 6.3.1 Australia 6.3.2 India
7 Industrial Hemp Market, By Type 7.1 Introduction 7.2 Hemp Seed 7.2.1 The High Nutrient Profile of Hemp Seeds is Expected to Drive Their Demand, Especially in the Food Industry 7.3 Hemp Seed Oil 7.3.1 Easy Processing Method and Low Cost of Hemp Oil Together With Its Varied Use in Diverse Industries 7.4 CBD Hemp Oil 7.4.1 Growing Application in Personal Care, Supplements, and Food & Beverages Products 7.5 Hemp Fiber 7.5.1 Increasing Use of Hemp Fiber for the Production of Biofuels, Bioplastics, and Construction Material
8 Industrial Hemp Market, By Application 8.1 Introduction 8.2 Food 8.2.1 Snacks & Cereals 22.214.171.124 Growing Demand for Hemp Snacks Due to High Protein Content 8.2.2 Soups, Sauces, & Seasonings 126.96.36.199 Role of Hemp in Reducing the Risk of Cancer and Preventing Other Diseases 8.2.3 Bakery Products 188.8.131.52 Rising Awareness Among Consumers Driving the Demand for Hemp-Based Bakery Products 8.2.4 Dairy & Frozen Desserts 184.108.40.206 Gluten-, Dairy-, and Cholesterol-Free Hemp in Dairy & Frozen Products to Drive the Demand 8.2.5 Others 220.127.116.11 Rising Demand for Novel Hemp-Based Food Products 8.3 Textiles 8.3.1 Wide Benefits of Hemp to Drive Its Demand in Textiles 8.4 Beverages 8.4.1 Hot Beverages 18.104.22.168 Soothing Effects of Hemp Tea on the Human Body to Drive the Market for Hot Beverages 8.4.2 Sports & Energy Drinks 22.214.171.124 Growing Popularity of Plant-Infused Drinks 8.4.3 Ready-To-Drink Beverages 126.96.36.199 Rising Demand for Different Flavors of Ice Tea 8.4.4 Others 188.8.131.52 Increased R&D on Industrial Hemp for the Extraction of Juice 8.5 Personal Care Products 8.5.1 Effective Moisturizing and Anti-Aging Properties of Hemp are Expected to Drive Its Demand in Personal Care Products 8.6 Pharmaceuticals 8.6.1 Usage of CBD Hemp Oil in the Treatment of Seizures, Sleep Disorders, and Diseases 8.7 Others 8.7.1 Increased Usage of Hemp in the Construction and Automobile Industries
9 Industrial Hemp Market, By Source 9.1 Introduction 9.2 Conventional 9.2.1 Low Prices of Conventional Hemp Seeds to Drive the Market 9.3 Organic 9.3.1 Increasing Demand for Organic Hemp Products in the Food and Pharmaceutical Industries
10 Industrial Hemp Market, By Region 10.1 Introduction 10.2 North America 10.2.1 US 10.2.1.1 Increasing Legalization of Industrial Hemp Cultivation and Production in Several States to Drive the US Market 10.2.2 Canada 10.2.2.1 The Increasing Market Demand for Hemp-Derived Products in Canada 10.2.3 Mexico 10.2.3.1 Legalization of Cultivating Industrial Hemp in the US is Projected to Reflect on the Market Growth Positively 10.3 Europe 10.3.1 Germany 10.3.1.1 Increasing Demand for Hemp-Based Food Products 10.3.2 France 10.3.2.1 Growing R&D for Novel Application of Hemp Fiber 10.3.3 Spain 10.3.3.1 Subsidies for Hemp Cultivation and Diverse Usage of Spanish Hemp in A Wide Range of Applications 10.3.4 Italy 10.3.4.1 Increased Manufacturing of Hemp Seeds for Human Consumption 10.3.5 Netherlands 10.3.5.1 Growing Application of Hemp in Automobile and Animal Bedding 10.3.6 Rest of Europe 10.3.6.1 Rising Cultivation and Utilization of Hemp in Food and Pharmaceutical Products 10.4 Asia Pacific 10.4.1 China 10.4.1.1 China is A Leading Producer of Hemp Fiber and Hemp Seed 10.4.2 Australia & New Zealand 10.4.2.1 Increase in R&D Activities By Food Companies to Introduce Hemp-Based Food Products 10.4.3 Japan 10.4.3.1 Consumers in Japan are More Inclined Toward Health-Related Products That Drive the Growth of Hemp Seed in Japan 10.4.4 India 10.4.4.1 Growth in the Number of Agricultural Training Programs to the Farmers to Spread Knowledge About Hemp 10.4.5 Rest of Asia Pacific 10.4.5.1 Increase in Inclination Toward the Usage of Hemp-Derived CBD Products 10.5 Rest of the World (RoW) 10.5.1 South America 10.5.1.1 The Government Regulations Introduced for Hemp in Countries Such as Chile and Uruguay is A Major Factor Contributing to the Growth of the Industrial Hemp Market 10.5.2 Middle East 10.5.2.1 Cultivation of Industrial Hemp in the Middle East is Still in the Nascent Stage of Development 10.5.3 Africa 10.5.3.1 South African Government is Focusing on Establishing Hemp Crops for Obtaining Various Benefits.