BANGALORE, India, Sept. 16, 2020 /PRNewswire/ -- According to the latest market research report "Industrial Hemp Market by Type (CBD Hemp Oil, Hemp Fiber, Hemp Seed, and Hemp Seed Oil), by Source (Conventional and Organic), by Application (Beverages, Food, Personal Care Products, Pharmaceuticals, and Textiles) and Region – Global Forecast to 2025", published on Valuates Reports.The Global Industrial Hemp Market size is expected to grow from USD 3,528.72 Million in 2019 to USD 18,812.81 Million by 2025 at a CAGR of 32.17% during the forecast period.
Major factors driving the global industrial hemp market size include the growing use in pharmaceutical, personal care, dietary supplements, and food & beverage industries rich in protein and fatty acids.
The Industrial Hemp Market report provides comprehensive information on the key players' market, in-depth information about lucrative emerging markets, detailed information about new product launches, untapped geographies, recent developments, and investments.
TRENDS INFLUENCING THE INDUSTRIAL HEMP MARKET SIZE
Due to their diverse health benefits and increased incidences of diseases such as epilepsy and other sleep disorders, the Industrial Hemp Market size is expected to grow rapidly during the forecast period.
Furthermore, hemp seed and hemp seed oil's functional properties and their increased use in different food applications are expected to fuel the industrial hemp market size. Hemp seeds contain ample quantities of protein to be regarded as an added value to a vegan diet.
New product development is expected to boost the growth of the Industrial Hemp Market size. The rising legalization of hemp production is driving producers and research institutions to develop new industrial hemp products. Biofuel is one of those applications projected to have considerable growth potential in the years to come.
Rising disposable income and lifestyle change are projected to drive demand for skincare products, thereby propelling the Industrial Hemp Market size.
However, the complex regulatory structure for industrial hemp use in various countries is expected to impede industrial hemp market growth.
Asia Pacific region is expected to hold the largest Industrial Hemp Market share during the forecast period. This dominance of the Asia-pacific region is attributed to the consumption of hemp fiber in the textile and paper industry. In addition, the Asia Pacific region's booming demand for cosmetics and personal care products, and the legalization of industrial hemp in food supplements, is expected to fuel market growth.
North America is expected to hold a significant Industrial Hemp Market share. The popularity of cannabidiol or CBD products is projected to drive the industrial hemp market size.
Based on Source, the Industrial Hemp Market studied across
Based on Application, the Industrial Hemp Market studied across
Personal Care Products,
The Beverages further studied across Hot Beverages, Ready-To-Drink Beverages, and Sports & Energy Drinks. The Food further studied across Bakery Products, Dairy & Frozen Desserts, Snacks & Cereals, and Soups, Sauces, & Seasonings.
The report provides insights on the following pointers:
1. Market Penetration: Provides comprehensive information on the market offered by the key players
2. Market Development: Provides in-depth information about lucrative emerging markets and analyzes the markets
3. Market Diversification: Provides detailed information about new product launches, untapped geographies, recent developments, and investments
4. Competitive Assessment & Intelligence: Provides an exhaustive assessment of market shares, strategies, products, and manufacturing capabilities of the leading players
5. Product Development & Innovation: Provides intelligent insights on future technologies, R&D activities, and new product developments
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