Press release
New Report Explored Global Industrial Hemp Market Demand Would Increase Rapidly by 2026 | 17% CAGR
The Global Industrial Hemp Market was valued at USD 4,638.6 million in 2018 and is expected to reach USD 16,758.9 million in 2026, growing at a CAGR of 17.0% by 2027.The ripple effect of Coronavirus-COVID19 on the Industrial Hemp Market needs to become part of strategy discussions to emerge strong. The Analyst team is meticulously tracking the impact and relevance to all the sectors in the Industrial Hemp Market. Key data sets include Revenue Impact analysis, Disruptions and New opportunities in the Supply Chain, Revised Vendor Landscape Mix, New opportunities mapping, and more.
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Industrial hemp is extracted from the cannabis sativa and widely adopted worldwide for the production of a variety of industrial and consumer products. Hemp is a great source of fiber and oilseed in the global market. The production and consumption of the hemp are characterized under the drug enforcement laws based out country-wise. For instance, in the US, the permit for the production of industrial hemp is permitted from the Drug Enforcement Agency (DEA)..
AllTheResearch offers a most recent distributed report on Global Industrial Hemp industry examination and figure 2019-2027conveying key bits of knowledge and giving an upper hand to customers through a point by point report. The report contains XX pages which profoundly displays on current market investigation situation, up and coming just as future chances, income development, evaluating and gainfulness.
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Market Segmentation:
Following Top Key players are profiled in this Market Study:
Hempco (Canada), Ecofibre (Australia), Hemp Inc. (US), GenCanna (US), HempFlax BV (Netherlands), Konoplex Group (Russia), Hemp Oil Canada (Canada), BAFA (Germany), Colorado Hemp Works (US), and Canah International (Romania) among others
By Application: Pharmaceutical, Food, Beverages, Personal Care, Others
Based on the End-use Industry, the pharmaceutical segment is expected to dominate the market during the forecast period
Based on the End-use Industry, the market has been segmented into pharmaceutical, food, beverage, personal care, and others. The pharmaceutical End-use Industry segment accounts of the largest share in the global industrial hemp market in 2018. The major factors that are driving the growth of this segment are the increased research and development on hemp revealed the benefits and increase in use of the usage of CBD hemp oil in the treatment of seizures, sleep disorders, and diseases.
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Regional Analysis:
North America
Europe
Asia Pacific
LATAM
Middle East Africa
The Europe is expected to dominate the industrial hemp market throughout the forecast period.
Europe accounted for nearly 40% share of the global industrial hemp market in 2018 followed by North America, and is expected to dominate the market throughout the forecast period owing to the presence of a large consumer base for industrial hemp in the end-use industries such as food, beverages, dietary supplements, and personal care products.
Asia-Pacific is expected to hold the highest CAGR in the global market during the forecast period owing to the extensive production and consumption of hemp fiber across the textile and paper industry. Moreover, owing to the growing market in terms of sales and demand for cosmetics and personal care products in the Asia-Pacific and further increased focused on the legalization of industrial hemp in food supplements are estimated to drive the market growth.
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AllTheResearch was formed with the aim of making market research a significant tool for managing breakthroughs in the industry. As a leading market research provider, the firm empowers its Global clients with business-critical research solutions. The outcome of our study of numerous companies that rely on market research and consulting data for their decision-making made us realise, that its not just sheer data-points, but the right analysis that creates a difference.
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