Industrial Hemp Market size is set to grow by USD 6,871.63 million from 2022 to 2027, APAC to account for 40% of the market growth - Technavio

NEW YORK, May 19, 2023 /PRNewswire/ -- The global industrial hemp market size is estimated to grow by USD 6,871.63 million from 2022 to 2027, according to Technavio. The market is estimated to grow at a CAGR of 17.1% during the forecast period. APAC is estimated to account for 40% of the global market growth. China accounts for a major portion of the regional market. It is also the region's top producer of industrial hemp and the nation has a long history of hemp farming and has used the plant for a variety of things, including papermaking, textiles, and medicine, for many years. The government has promoted hemp cultivation as a cash crop and acknowledged hemp's potential as a sustainable resource. For more insights on the historic (2017 to 2021) and forecast market size (2023 to 2027) - Request a sample report

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Industrial Hemp Market - Segmentation Assessment
Segment Overview
Technavio has segmented the market based on type, Product (Seeds, Fiber, and Shivs), Application (Textile, Food and beverages, Personal care, Animal care, and Others), and Geography (APAC, North America, Europe, South America, and Middle East and Africa). 

• The market share growth by the seeds segment will be significant for overall market growth during the forecast period. The largest share of the global market in 2022 was held by the seeds segment. Hemp milk, hemp oil, and hemp protein powder are all made with hemp seeds, which are a great source of protein and essential fatty acids. The worldwide demand for hemp seeds has increased as a result of rising interest in plant-based diets.

Geography Overview

By geography, the global industrial hemp market is segmented into APAC, North America, Europe, South America, and Middle East and Africa. The report provides actionable insights and estimates the contribution of all regions to the growth of the global industrial hemp market.

• APAC is estimated to account for 40% of the market growth during the forecast period. Industrial hemp is widely used in the region, with China, Japan, and South Korea among the major producers and consumers of hemp-based goods. The rising use of hemp-based products across industries and the legalization of hemp cultivation in several nations, including China, India, Bangladesh, Japan, Australia, etc., will fuel the significant growth of the market in APAC over the coming years.

Insights on the market contribution of various segments including country and region wise, historic (2017 to 2021) and forecast market size (2023 to 2027) - Download a Sample Report

Industrial Hemp Market – Market Dynamics
Key factor driving market growth

• The high demand from the textile industry notably drives market growth. Owing to their strongest and most long-lasting textile fibers, hemp fibers are used more frequently as a raw material for the production of textile yarn. They are also viewed as a cotton and synthetic fiber replacement. The superiority of hemp in terms of technology, ecology, and economics also increases the demand for it in the textile industry, where it is used to make a variety of goods. Canvas, sailcloth, rope, sacks, clothing, furniture, specialty textiles, and other products are made with hemp.

Leading trends influencing the market 

• The growing demand for organic hemp-based foods is an emerging trend in the market growth. Food products made from organic ingredients are highly in demand. But the cost of organic food items is typically higher than that of conventional ones. Furthermore, the higher production costs and consumers' willingness to pay more for organic food products are the reasons behind the premium price. Hence, such trends fuel market growth.

Major challenges hindering the market growth

• Challenges associated with the production of hemp are the major challenges impeding the market growth. Even though hemp is used more frequently in a variety of applications, growing it has proven difficult for farmers all over the world. Specific climatic requirements for hemp production include a temperate climate, a humid atmosphere, at least 25 to 30 inches of annual precipitation, well-drained loam soils, and compact soils. In addition, hemp farming faces regulatory difficulties because there are very few genetic differences between hemp and marijuana.

Insights on Market Drivers, trends, & Challenges, historic period(2017 to 2021) and forecast period(2023 to 2027)- Request a sample report!

What are the key data covered in this Industrial Hemp Market report?

• CAGR of the market during the forecast period
• Detailed information on factors that will drive the growth of the industrial hemp market between 2023 and 2027
• Precise estimation of the size of the industrial hemp market and its contribution to the market with a focus on the parent market
• Accurate predictions about upcoming trends and changes in consumer behavior
• Growth of the Industrial Hemp Market industry across APAC, North America, Europe, South America, and Middle East and Africa
• A thorough analysis of the market's competitive landscape and detailed information about vendors
• Comprehensive analysis of factors that will challenge the growth of industrial hemp market vendors

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Related Reports:

The hemp fiber market size is expected to increase by USD 4.28 billion from 2021 to 2026, and the market's growth momentum will accelerate at a CAGR of 15.32%. Furthermore, this report extensively covers the hemp fiber market segmentation by application (textiles, personal care, food and beverages, and others) and geography (APAC, Europe, North America, the Middle East and Africa, and South America). The increasing use of hemp fibers in the textile industry is one of the key factors driving the global hemp fiber market's growth.

The hemp-based foods market size is expected to increase by USD 3.54 billion from 2021 to 2026, and the market's growth momentum will accelerate at a CAGR of 11.55%. Furthermore, this report extensively covers hemp-based foods market segmentations by product (hemp seed-based foods and hemp oil-based foods) and geography (North America, Europe, APAC, South America, and Middle East and Africa). The growing vegan population and cases of celiac disease is notably driving the hemp-based foods market growth.

Table of Contents:

1 Executive Summary

• 1.1 Market overview
• Exhibit 01: Executive Summary – Chart on Market Overview
• Exhibit 02: Executive Summary – Data Table on Market Overview
• Exhibit 03: Executive Summary – Chart on Global Market Characteristics
• Exhibit 04: Executive Summary – Chart on Market by Geography
• Exhibit 05: Executive Summary – Chart on Market Segmentation by Product
• Exhibit 06: Executive Summary – Chart on Market Segmentation by Application
• Exhibit 07: Executive Summary – Chart on Incremental Growth
• Exhibit 08: Executive Summary – Data Table on Incremental Growth
• Exhibit 09: Executive Summary – Chart on Vendor Market Positioning

2 Market Landscape

• 2.1 Market ecosystem
• Exhibit 10: Parent market
• Exhibit 11: Market Characteristics

3 Market Sizing

• 3.1 Market definition
• Exhibit 12: Offerings of vendors included in the market definition

• 3.2 Market segment analysis 
• Exhibit 13: Market segments

• 3.3 Market size 2022

• 3.4 Market outlook: Forecast for 2022-2027 
• Exhibit 14: Chart on Global - Market size and forecast 2022-2027 ($ million)
• Exhibit 15: Data Table on Global - Market size and forecast 2022-2027 ($ million)
• Exhibit 16: Chart on Global Market: Year-over-year growth 2022-2027 (%)
• Exhibit 17: Data Table on Global Market: Year-over-year growth 2022-2027 (%)

4 Historic Market Size

• 4.1 Global industrial hemp market 2017 - 2021 
• Exhibit 18: Historic Market Size – Data Table on Global industrial hemp market 2017 - 2021 ($ million)

• 4.2 Product Segment Analysis 2017 - 2021 
• Exhibit 19: Historic Market Size – Product Segment 2017 - 2021 ($ million)

• 4.3 Application Segment Analysis 2017 - 2021 
• Exhibit 20: Historic Market Size – Application Segment 2017 - 2021 ($ million)

• 4.4 Geography Segment Analysis 2017 - 2021 
• Exhibit 21: Historic Market Size – Geography Segment 2017 - 2021 ($ million)

• 4.5 Country Segment Analysis 2017 - 2021 
• Exhibit 22: Historic Market Size – Country Segment 2017 - 2021 ($ million)

5 Five Forces Analysis

• 5.1 Five forces summary
• Exhibit 23: Five forces analysis - Comparison between 2022 and 2027

• 5.2 Bargaining power of buyers 
• Exhibit 24: Chart on Bargaining power of buyers – Impact of key factors 2022 and 2027

• 5.3 Bargaining power of suppliers 
• Exhibit 25: Bargaining power of suppliers – Impact of key factors in 2022 and 2027

• 5.4 Threat of new entrants 
• Exhibit 26: Threat of new entrants – Impact of key factors in 2022 and 2027

• 5.5 Threat of substitutes 
• Exhibit 27: Threat of substitutes – Impact of key factors in 2022 and 2027

• 5.6 Threat of rivalry
• Exhibit 28: Threat of rivalry – Impact of key factors in 2022 and 2027

• 5.7 Market condition
• Exhibit 29: Chart on Market condition - Five forces 2022 and 2027

6 Market Segmentation by Product

• 6.1 Market segments
• Exhibit 30: Chart on Product - Market share 2022-2027 (%)
• Exhibit 31: Data Table on Product - Market share 2022-2027 (%)

• 6.2 Comparison by Product 
• Exhibit 32: Chart on Comparison by Product
• Exhibit 33: Data Table on Comparison by Product

• 6.3 Seeds - Market size and forecast 2022-2027 
• Exhibit 34: Chart on Seeds - Market size and forecast 2022-2027 ($ million)
• Exhibit 35: Data Table on Seeds - Market size and forecast 2022-2027 ($ million)
• Exhibit 36: Chart on Seeds - Year-over-year growth 2022-2027 (%)
• Exhibit 37: Data Table on Seeds - Year-over-year growth 2022-2027 (%)

• 6.4 Fiber - Market size and forecast 2022-2027 
• Exhibit 38: Chart on Fiber - Market size and forecast 2022-2027 ($ million)
• Exhibit 39: Data Table on Fiber - Market size and forecast 2022-2027 ($ million)
• Exhibit 40: Chart on Fiber - Year-over-year growth 2022-2027 (%)
• Exhibit 41: Data Table on Fiber - Year-over-year growth 2022-2027 (%)

• 6.5 Shivs - Market size and forecast 2022-2027 
• Exhibit 42: Chart on Shivs - Market size and forecast 2022-2027 ($ million)
• Exhibit 43: Data Table on Shivs - Market size and forecast 2022-2027 ($ million)
• Exhibit 44: Chart on Shivs - Year-over-year growth 2022-2027 (%)
• Exhibit 45: Data Table on Shivs - Year-over-year growth 2022-2027 (%)

• 6.6 Market opportunity by Product 
• Exhibit 46: Market opportunity by Product ($ million)
• Exhibit 47: Data Table on Market opportunity by Product ($ million)

7 Market Segmentation by Application

• 7.1 Market segments
• Exhibit 48: Chart on Application - Market share 2022-2027 (%)
• Exhibit 49: Data Table on Application - Market share 2022-2027 (%)

• 7.2 Comparison by Application 
• Exhibit 50: Chart on Comparison by Application
• Exhibit 51: Data Table on Comparison by Application

• 7.3 Textile - Market size and forecast 2022-2027 
• Exhibit 52: Chart on Textile - Market size and forecast 2022-2027 ($ million)
• Exhibit 53: Data Table on Textile - Market size and forecast 2022-2027 ($ million)
• Exhibit 54: Chart on Textile - Year-over-year growth 2022-2027 (%)
• Exhibit 55: Data Table on Textile - Year-over-year growth 2022-2027 (%)

• 7.4 Food and beverages - Market size and forecast 2022-2027 
• Exhibit 56: Chart on Food and beverages - Market size and forecast 2022-2027 ($ million)
• Exhibit 57: Data Table on Food and beverages - Market size and forecast 2022-2027 ($ million)
• Exhibit 58: Chart on Food and beverages - Year-over-year growth 2022-2027 (%)
• Exhibit 59: Data Table on Food and beverages - Year-over-year growth 2022-2027 (%)

• 7.5 Personal care - Market size and forecast 2022-2027 
• Exhibit 60: Chart on Personal care - Market size and forecast 2022-2027 ($ million)
• Exhibit 61: Data Table on Personal care - Market size and forecast 2022-2027 ($ million)
• Exhibit 62: Chart on Personal care - Year-over-year growth 2022-2027 (%)
• Exhibit 63: Data Table on Personal care - Year-over-year growth 2022-2027 (%)

• 7.6 Animal care - Market size and forecast 2022-2027 
• Exhibit 64: Chart on Animal care - Market size and forecast 2022-2027 ($ million)
• Exhibit 65: Data Table on Animal care - Market size and forecast 2022-2027 ($ million)
• Exhibit 66: Chart on Animal care - Year-over-year growth 2022-2027 (%)
• Exhibit 67: Data Table on Animal care - Year-over-year growth 2022-2027 (%)

• 7.7 Others - Market size and forecast 2022-2027 
• Exhibit 68: Chart on Others - Market size and forecast 2022-2027 ($ million)
• Exhibit 69: Data Table on Others - Market size and forecast 2022-2027 ($ million)
• Exhibit 70: Chart on Others - Year-over-year growth 2022-2027 (%)
• Exhibit 71: Data Table on Others - Year-over-year growth 2022-2027 (%)

• 7.8 Market opportunity by Application 
• Exhibit 72: Market opportunity by Application ($ million)
• Exhibit 73: Data Table on Market opportunity by Application ($ million)

8 Customer Landscape

• 8.1 Customer landscape overview 
• Exhibit 74: Analysis of price sensitivity, lifecycle, customer purchase basket, adoption rates, and purchase criteria

9 Geographic Landscape

• 9.1 Geographic segmentation 
• Exhibit 75: Chart on Market share by geography 2022-2027 (%)
• Exhibit 76: Data Table on Market share by geography 2022-2027 (%)

• 9.2 Geographic comparison 
• Exhibit 77: Chart on Geographic comparison
• Exhibit 78: Data Table on Geographic comparison

• 9.3 APAC - Market size and forecast 2022-2027 
• Exhibit 79: Chart on APAC - Market size and forecast 2022-2027 ($ million)
• Exhibit 80: Data Table on APAC - Market size and forecast 2022-2027 ($ million)
• Exhibit 81: Chart on APAC - Year-over-year growth 2022-2027 (%)
• Exhibit 82: Data Table on APAC - Year-over-year growth 2022-2027 (%)

• 9.4 North America - Market size and forecast 2022-2027 
• Exhibit 83: Chart on North America - Market size and forecast 2022-2027 ($ million)
• Exhibit 84: Data Table on North America - Market size and forecast 2022-2027 ($ million)
• Exhibit 85: Chart on North America - Year-over-year growth 2022-2027 (%)
• Exhibit 86: Data Table on North America - Year-over-year growth 2022-2027 (%)

• 9.5 Europe - Market size and forecast 2022-2027 
• Exhibit 87: Chart on Europe - Market size and forecast 2022-2027 ($ million)
• Exhibit 88: Data Table on Europe - Market size and forecast 2022-2027 ($ million)
• Exhibit 89: Chart on Europe - Year-over-year growth 2022-2027 (%)
• Exhibit 90: Data Table on Europe - Year-over-year growth 2022-2027 (%)

• 9.6 South America - Market size and forecast 2022-2027 
• Exhibit 91: Chart on South America - Market size and forecast 2022-2027 ($ million)
• Exhibit 92: Data Table on South America - Market size and forecast 2022-2027 ($ million)
• Exhibit 93: Chart on South America - Year-over-year growth 2022-2027 (%)
• Exhibit 94: Data Table on South America - Year-over-year growth 2022-2027 (%)

• 9.7 Middle East and Africa - Market size and forecast 2022-2027 
• Exhibit 95: Chart on Middle East and Africa - Market size and forecast 2022-2027 ($ million)
• Exhibit 96: Data Table on Middle East and Africa - Market size and forecast 2022-2027 ($ million)
• Exhibit 97: Chart on Middle East and Africa - Year-over-year growth 2022-2027 (%)
• Exhibit 98: Data Table on Middle East and Africa - Year-over-year growth 2022-2027 (%)

• 9.8 China - Market size and forecast 2022-2027 
• Exhibit 99: Chart on China - Market size and forecast 2022-2027 ($ million)
• Exhibit 100: Data Table on China - Market size and forecast 2022-2027 ($ million)
• Exhibit 101: Chart on China - Year-over-year growth 2022-2027 (%)
• Exhibit 102: Data Table on China - Year-over-year growth 2022-2027 (%)

• 9.9 US - Market size and forecast 2022-2027 
• Exhibit 103: Chart on US - Market size and forecast 2022-2027 ($ million)
• Exhibit 104: Data Table on US - Market size and forecast 2022-2027 ($ million)
• Exhibit 105: Chart on US - Year-over-year growth 2022-2027 (%)
• Exhibit 106: Data Table on US - Year-over-year growth 2022-2027 (%)

• 9.10 Germany - Market size and forecast 2022-2027 
• Exhibit 107: Chart on Germany - Market size and forecast 2022-2027 ($ million)
• Exhibit 108: Data Table on Germany - Market size and forecast 2022-2027 ($ million)
• Exhibit 109: Chart on Germany - Year-over-year growth 2022-2027 (%)
• Exhibit 110: Data Table on Germany - Year-over-year growth 2022-2027 (%)

• 9.11 Canada - Market size and forecast 2022-2027 
• Exhibit 111: Chart on Canada - Market size and forecast 2022-2027 ($ million)
• Exhibit 112: Data Table on Canada - Market size and forecast 2022-2027 ($ million)
• Exhibit 113: Chart on Canada - Year-over-year growth 2022-2027 (%)
• Exhibit 114: Data Table on Canada - Year-over-year growth 2022-2027 (%)

• 9.12 France - Market size and forecast 2022-2027 
• Exhibit 115: Chart on France - Market size and forecast 2022-2027 ($ million)
• Exhibit 116: Data Table on France - Market size and forecast 2022-2027 ($ million)
• Exhibit 117: Chart on France - Year-over-year growth 2022-2027 (%)
• Exhibit 118: Data Table on France - Year-over-year growth 2022-2027 (%)

• 9.13 Market opportunity by geography 
• Exhibit 119: Market opportunity by geography ($ million)
• Exhibit 120: Data Tables on Market opportunity by geography ($ million)

10 Drivers, Challenges, and Trends

• 10.1 Market drivers

• 10.2 Market challenges

• 10.3 Impact of drivers and challenges 
• Exhibit 121: Impact of drivers and challenges in 2022 and 2027

• 10.4 Market trends

11 Vendor Landscape

• 11.1 Overview

• 11.2 Vendor landscape
• Exhibit 122: Overview on Criticality of inputs and Factors of differentiation

• 11.3 Landscape disruption
• Exhibit 123: Overview on factors of disruption

• 11.4 Industry risks
• Exhibit 124: Impact of key risks on business

12 Vendor Analysis

• 12.1 Vendors covered
• Exhibit 125: Vendors covered

• 12.2 Market positioning of vendors 
• Exhibit 126: Matrix on vendor position and classification

• 12.3 22nd Century Group Inc. 
• Exhibit 127: 22nd Century Group Inc. - Overview
• Exhibit 128: 22nd Century Group Inc. - Product / Service
• Exhibit 129: 22nd Century Group Inc. - Key offerings

• 12.4 Aurora Cannabis Inc.
• Exhibit 130: Aurora Cannabis Inc. - Overview
• Exhibit 131: Aurora Cannabis Inc. - Business segments
• Exhibit 132: Aurora Cannabis Inc. - Key offerings
• Exhibit 133: Aurora Cannabis Inc. - Segment focus

• 12.5 Bombay Hemp Co. Pvt. Ltd. 
• Exhibit 134: Bombay Hemp Co. Pvt. Ltd. - Overview
• Exhibit 135: Bombay Hemp Co. Pvt. Ltd. - Product / Service
• Exhibit 136: Bombay Hemp Co. Pvt. Ltd. - Key offerings

• 12.6 Boring Hemp Co.
• Exhibit 137: Boring Hemp Co. - Overview
• Exhibit 138: Boring Hemp Co. - Product / Service
• Exhibit 139: Boring Hemp Co. - Key offerings

• 12.7 Canopy Growth Corp.
• Exhibit 140: Canopy Growth Corp. - Overview
• Exhibit 141: Canopy Growth Corp. - Business segments
• Exhibit 142: Canopy Growth Corp. - Key news
• Exhibit 143: Canopy Growth Corp. - Key offerings
• Exhibit 144: Canopy Growth Corp. - Segment focus

• 12.8 Charlottes Web Holdings Inc. 
• Exhibit 145: Charlottes Web Holdings Inc. - Overview
• Exhibit 146: Charlottes Web Holdings Inc. - Product / Service
• Exhibit 147: Charlottes Web Holdings Inc. - Key news
• Exhibit 148: Charlottes Web Holdings Inc. - Key offerings

• 12.9 CV Sciences Inc.
• Exhibit 149: CV Sciences Inc. - Overview
• Exhibit 150: CV Sciences Inc. - Business segments
• Exhibit 151: CV Sciences Inc. - Key offerings
• Exhibit 152: CV Sciences Inc. - Segment focus

• 12.10 Deep Nature Project GmbH 
• Exhibit 153: Deep Nature Project GmbH - Overview
• Exhibit 154: Deep Nature Project GmbH - Product / Service
• Exhibit 155: Deep Nature Project GmbH - Key offerings

• 12.11 Dun Agro Hemp Group
• Exhibit 156: Dun Agro Hemp Group - Overview
• Exhibit 157: Dun Agro Hemp Group - Product / Service
• Exhibit 158: Dun Agro Hemp Group - Key offerings

• 12.12 Ecofibre Ltd.
• Exhibit 159: Ecofibre Ltd. - Overview
• Exhibit 160: Ecofibre Ltd. - Business segments
• Exhibit 161: Ecofibre Ltd. - Key offerings
• Exhibit 162: Ecofibre Ltd. - Segment focus

• 12.13 Elixinol Wellness Ltd. 
• Exhibit 163: Elixinol Wellness Ltd. - Overview
• Exhibit 164: Elixinol Wellness Ltd. - Business segments
• Exhibit 165: Elixinol Wellness Ltd. - Key offerings
• Exhibit 166: Elixinol Wellness Ltd. - Segment focus

• 12.14 GFR Ingredients Ltd.
• Exhibit 167: GFR Ingredients Ltd. - Overview
• Exhibit 168: GFR Ingredients Ltd. - Key offerings

• 12.15 Hanma Investment Group Co. Ltd. 
• Exhibit 169: Hanma Investment Group Co. Ltd. - Overview
• Exhibit 170: Hanma Investment Group Co. Ltd. - Product / Service
• Exhibit 171: Hanma Investment Group Co. Ltd. - Key offerings

• 12.16 HempFlax Group BV
• Exhibit 172: HempFlax Group BV - Overview
• Exhibit 173: HempFlax Group BV - Product / Service
• Exhibit 174: HempFlax Group BV - Key offerings

• 12.17 HemPoland Sp zoo
• Exhibit 175: HemPoland Sp zoo - Overview
• Exhibit 176: HemPoland Sp zoo - Product / Service
• Exhibit 177: HemPoland Sp zoo - Key offerings

13 Appendix

• 13.1 Scope of the report

• 13.2 Inclusions and exclusions checklist 
• Exhibit 178: Inclusions checklist
• Exhibit 179: Exclusions checklist

• 13.3 Currency conversion rates for US$ 
• Exhibit 180: Currency conversion rates for US$

• 13.4 Research methodology
• Exhibit 181: Research methodology
• Exhibit 182: Validation techniques employed for market sizing
• Exhibit 183: Information sources

• 13.5 List of abbreviations 
• Exhibit 184: List of abbreviations 

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