Industrial Hemp Market size worth USD 23.20 Billion, Globally, by 2030 at 14.05% CAGR: Verified Market Research®

The “Global Industrial Hemp Market Size By Type, By Application, By Sources, By Geographic Scope And Forecast” report has been published by Verified Market Research®. The report provides an in-depth analysis of the global Industrial Hemp Market, including its growth prospects, market trends, and market challenges.

JERSEY CITY, N.J., Sept. 12, 2023 /PRNewswire/ — The Global Industrial Hemp Market is projected to grow at a CAGR of 14.05% from 2023 to 2030, according to a new report published by Verified Market Research®. The report reveals that the market was valued at USD 8.10 Billion in 2022 and is expected to reach USD 23.20 Billion by the end of the forecast period.

Download PDF Brochure: https://www.verifiedmarketresearch.com/download-sample?rid=117111

Browse in-depth TOC on “Industrial Hemp Market“

202 – Pages

126 – Tables

37 – Figures

Global Industrial Hemp Market: Growing Demand and Regulatory Shifts Shape Industry Landscape

The global Industrial Hemp Market is poised for significant expansion, driven by an array of market drivers and regulatory shifts. Key players such as Hemp Oil Canada, Hemp Inc., Konoplex Group, BAFA, Hemp Poland, Dun Agro, HempFlax BV, HempFlax BV, and others are at the forefront of this transformative industry, capitalizing on the increasing consumer awareness of hemp-based products and their diverse applications.

Industrial Hemp Market Drivers:

Diverse Applications: Industrial hemp is a versatile commodity utilized across numerous sectors, including clothing, textiles, food and beverages, cosmetics, dietary supplements, paper production, construction materials, and more. This wide-ranging applicability fuels Industrial Hemp Market growth.
Health and Sustainability: Rising consumer health consciousness and the demand for natural, sustainable products are propelling the market. Hemp oil, with its high essential fatty acid content, is garnering attention for its health benefits, particularly in the food and beverage industry.
Automotive Sector: Industrial hemp’s exceptional mechanical properties make it an ideal choice for specialty paper, insulation, and bio-composites in the automotive industry. As governments worldwide focus on fuel efficiency, the demand for lightweight materials is set to soar, benefiting key players in this space.
Regulatory Liberalization: Favorable regulatory changes, especially in the United States, are expected to drive Industrial Hemp Market growth. Regulatory shifts are enabling increased production and consumption of industrial hemp across countries.

Industrial Hemp Market Outlook:

The global industrial hemp market is set to witness robust growth over the forecast period. With the increasing preference for natural and sustainable products, the market’s trajectory remains positive. The food and beverage industry is anticipated to experience substantial growth due to the demand for hemp oil, which is rich in essential fatty acids and known for its health benefits. Additionally, the automotive sector’s adoption of lightweight materials, including hemp-based bio-composites, will contribute to market expansion.

However, the complex regulatory landscape poses a challenge to market participants. Companies operating in this sector must navigate varying regulations across countries, and even within the same nation, which can be cumbersome for compliance.

Industrial Hemp Market Key Players:

Leading the charge in the global industrial hemp market are:

Hemp Oil Canada
Hemp Inc.
Konoplex Group
BAFA
Hemp Poland
Dun Agro
HempFlax BV

These key players, alongside others in the market, are actively capitalizing on the growing demand for industrial hemp and its derivative products. Their contributions are shaping the industry landscape and driving innovation in the sector.

In conclusion, the global industrial hemp market is on a trajectory of substantial growth, driven by factors such as diverse applications, consumer health consciousness, automotive sector demand, and evolving regulations. Key players are well-positioned to leverage these opportunities and contribute to the industry’s development.

To get market data, market insights, financial statements and a comprehensive analysis of the Global Industrial Hemp Market, please Contact Verified Market Research®.

Based on the research, Verified Market Research® has segmented the global Industrial Hemp Market into Type, Application, Sources, And Geography.

Industrial Hemp Market, by Type
- Hemp Seed
- Hemp Seed Oil
- Hemp Fiber
- CBD Hemp Oil
Industrial Hemp Market, by Application
- Food
- Beverages
- Personal Care Products
- Textiles
- Pharmaceuticals
Industrial Hemp Market, by Sources
- Organic
- Conventional
Industrial Hemp Market, by Geography
- North America
  - U.S
  - Canada
  - Mexico
- Europe
  - Germany
  - France
  - U.K
  - Rest of Europe
- Asia Pacific
  - China
  - Japan
  - India
  - Rest of Asia Pacific
- ROW
  - Middle East & Africa
  - Latin America

Browse Related Reports:

CBD Hemp Oil Market By Product Type (Hemp Based, Marijuana Based), By End User (Medical Use, Pharmaceutical Use), By Geography, And Forecast

Hemp Hurd Market By Type (Sizes <=10mm , Sizes>10 mm), By Application (Construction, Animal Bedding, Gardening), By Geography, And Forecast

Hemp Fiber Market By Type (long (bast) fibers and short (core) fibers), By Application (Textiles, Pulp & paper, Composite material), By Geography, And Forecast

Industrial Hemp in Medical Market By Product (Cannabinoid Groups, Non-Cannabinoid Groups), By Application (Hospitals, Clinics), By Geography, And Forecast

7 Leading Industrial Hemp Companies producing assured quality hemp for industrial purposes

Visualize Industrial Hemp Market using Verified Market Intelligence -:

Verified Market Intelligence is our BI Enabled Platform for narrative storytelling in this market. VMI offers in-depth forecasted trends and accurate Insights on over 20,000+ emerging & niche markets, helping you make critical revenue-impacting decisions for a brilliant future.

VMI provides a holistic overview and global competitive landscape with respect to Region, Country, Segment, and Key players of your market. Present your Market Report & findings with an inbuilt presentation feature saving over 70% of your time and resources for Investor, Sales & Marketing, R&D, and Product Development pitches. VMI enables data delivery In Excel and Interactive PDF formats with over 15+ Key Market Indicators for your market.

About Us

Verified Market Research® is a leading Global Research and Consulting firm servicing over 5000+ customers. Verified Market Research® provides advanced analytical research solutions while offering information-enriched research studies. We offer insight into strategic and growth analyses, Data necessary to achieve corporate goals and critical revenue decisions.

Our 250 Analysts and SMEs offer a high level of expertise in data collection and governance use industrial techniques to collect and analyze data on more than 15,000 high impact and niche markets. Our analysts are trained to combine modern data collection techniques, superior research methodology, expertise and years of collective experience to produce informative and accurate research.

We study 14+ categories from Semiconductors & Electronics, Chemicals, Advanced Materials, Aerospace & Defense, Energy & Power, Healthcare, Pharmaceuticals, Automotive & Transportation, Information & Communication Technology, Software & Services, Information Security, Mining, Minerals & Metals, Building & Construction, Agriculture industry and Medical Devices from over 100 countries.

Contact Us

Mr. Edwyne Fernandes

Verified Market Research®

US: +1 (650)-781-4080

US Toll Free: +1 (800)-782-1768

Email: [email protected]

Web: https://www.verifiedmarketresearch.com/

Follow Us: LinkedIn | Twitter