Industrial Hemp Market to Grow by USD 18.31 Billion from 2025-2029, Driven by High Demand from the Textile Industry, Report on How AI is Driving Market Transformation - Technavio

NEW YORK, Feb. 13, 2025 /PRNewswire/ -- Report with the AI impact on market trends - The industrial hemp market and it is set to grow by USD 18.31 billion from 2025 to 2029. However, the growth momentum will progressing at a CAGR of over 27% during the forecast period, according to Technavio. The industrial hemp market is fragmented, and the vendors are seeking strong partnerships with automotive, industrial, and commercial companies to compete in the market.  Aurora Cannabis Inc., Bombay Hemp Co. Pvt. Ltd., Boring Hemp Co., Canopy Growth Corp., Charlottes Web Holdings Inc., CV Sciences Inc., Deep Nature Project GmbH, Dun Agro Hemp Group, Ecofibre Ltd., Elixinol Wellness Ltd., GFR Ingredients Ltd., Hanma Investment Group Co. Ltd., Hemp Horizons Private Ltd., HempFlax Group BV, HemPoland Sp zoo, Liaoning Qiaopai Biotech Co. Ltd., Medical Marijuana Inc., Nutiva Inc., Parkland Industrial Hemp Growers Co op. Ltd., and Tilray Brands Inc. Are some of the major market participants -. To know about the vendor offerings - Request a sample report

Industrial Hemp Market 2025-2029: Scope

Technavio presents a detailed picture of the market by the way of study, synthesis, and summation of data from multiple sources. The industrial hemp market report covers the following areas:

• Industrial Hemp Market Size
• Industrial Hemp Market Trends
• Industrial Hemp Market Industry Analysis
• Porter's Five Forces Analysis
• Customer Landscape

The industrial hemp market is fragmented, and the degree of fragmentation will accelerate. The high demand from the textile industry will offer immense growth opportunities. However, the Challenges associated with the production of hemp will hamper the market growth

Industrial Hemp Market 2025-2029: Drivers & Challenges

Hemp fibers have emerged as a preferred choice for textile yarn production due to their exceptional strength and durability. These fibers serve as a viable alternative to cotton and synthetic fibers in the textiles industry. The advantages of hemp, including its technological, ecological, and economic superiority, have fueled its demand for manufacturing a range of products such as canvas, sailcloth, rope, sacks, clothing, furnishing, and specialty textiles. In January 2022, the Uttarakhand government implemented a policy under Section 14 of the NDPS Act, 1985, enabling industrial or horticulture cultivation of the hemp plant, further boosting its market potential.

Hemp is a versatile crop with various applications in industries such as textiles, food, and construction. However, its production presents unique challenges for farmers due to specific climatic requirements. These include a mild climate, humid atmosphere, minimum annual rainfall of 25-30 inches, well-drained loam soils, and compacted soil. Additionally, regulatory hurdles arise due to the close relationship between hemp and marijuana. Marijuana, which is illegal in many countries, including the US, shares few genetic differences with hemp, leading to regulatory complications. The US Federal government classifies marijuana as a controlled substance, making hemp farming a complex endeavor.

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Segment Overview 

This industrial hemp market report extensively covers market segmentation by  

• Product
• Seeds
• Fiber
• Shivs
• Application
• Textile
• Food And Beverages
• Personal Care
• Animal Care
• Others
• Geography
• APAC
• North America
• Europe
• South America
• Middle East And Africa

1.1 Seeds-  The global industrial hemp market's seeds segment holds a substantial share, reaching a significant size in 2023. Hemp seeds are popular due to their nutritional value, primarily used in food and beverage items like hemp milk, hemp oil, and hemp protein powder. The increasing popularity of plant-based diets fuels the global demand for these seeds. Two types of hemp seeds exist: organic and conventional. Consumers prefer organic hemp seeds due to their natural and organic nature, free from harmful chemicals and pesticides. The organic hemp seeds market is further segmented into hulled (hemp hearts) and whole seeds. Hemp hearts are popular for their nutty taste and high nutritional value, while whole seeds offer a high fiber content and versatility. Hemp seed oil, with its moisturizing properties and essential fatty acids, is widely used in food and cosmetic products. In summary, the hemp seeds segment's growth is driven by the rising preference for organic and plant-based products, making it a significant contributor to the global industrial hemp market's expansion during the forecast period.

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Industrial Hemp Market 2025-2029: Key Highlights

• CAGR of the market during the forecast period 2025-2029
• Detailed information on factors that will assist industrial hemp market growth during the next five years
• Estimation of the industrial hemp market size and its contribution to the parent market
• Predictions on upcoming trends and changes in consumer behavior
• The growth of the industrial hemp market across APAC, North America, Europe, South America, and Middle East and Africa
• Analysis of the market's competitive landscape and detailed information on vendors
• Comprehensive details of factors that will challenge the growth of industrial hemp market vendors

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SOURCE Technavio