Industrial Hemp Market 2022 Industry Growth and Product Scope 2028

Precision Business Insights published a research report on “Industrial Hemp Market By Product (Hemp Seeds, Seed Oils, Hemp Fibers and Hemp Oil), By Source (Conventional and Organic), By Application (Food, Beverages, Personal Care Products, Textiles, Pharmaceuticals and Others) and Geography - Global/Region/Country Forecast to 2028”.

Industrial hemp is a crop grown for use in a variety of products such as fabrics and textiles, meals and beverages, cosmetics and personal care products, nutritional supplements, paper, yarns and spun fibres, construction materials, and other items. Although industrial hemp and marijuana are not the same species, they are different variants of the same species. On a dry-weight basis, marijuana contains 3 to 15% (tetrahydrocannabinol), whereas industrial hemp contains less than 1%. In most developed countries that allow hemp growth, cultivars with less than 0.3 percent tetrahydrocannabinol must be used By appearance, though, the two types are indistinguishable.

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The industrial hemp market is expected to grow due to its application utilisation in the personal care, food and beverage, textile, as well as biocomposite industries. The high essential fatty acid content of hemp oil, which prevents and alleviates diseases, is one element leading to industrial growth in the food and beverage sector. Industrial hemp is a resource that is incredibly renewable. The crop produces a large production of edible proteins and fibres, with over 50,000 product applications once harvested. Because people are becoming more health-conscious, the demand for Industrial Hemp products is growing by the day. Consumers' increased preference for natural products is a major driver for the worldwide Industrial Hemp market. Furthermore, the exceptional mechanical qualities of industrial hemp produced using environmentally friendly procedures are predominantly employed in automotive applications for speciality pulp and paper, insulating materials, and bio-composites. Hemp bio-composites are in high demand for interior applications also including door panels, trunk liners, spare wheel covers, headliners, and parcel trays, thanks to the growing desire for lightweight automobiles.

The Global Industrial Hemp Market is fragmented on the basis of Application, Type, Sources, and Geography. In terms of Type, the Global Industrial Hemp Market has been categorized into Hemp Seed, Hemp Seed Oil, Hemp Fiber and Hemp Oil. In terms of Application, the Global Industrial Hemp Market has been categorized into Personal Care Products, Textiles, Food, Pharmaceuticals, Beverages, and Others. In terms Sources, the market is divided into Organic and Conventional.

Europe and Asia Pacific are expected to be important areas in the global industrial hemp market because they are home to a number of major companies in the industry, have appropriate government regulations, and have significant demand from a variety of industries. Due to rising awareness, growing demands for hemp-based goods, and changing government policies in the region, North America is predicted to overtake Europe and Asia Pacific in the worldwide industrial hemp market during the forecast period.

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Some of the major key players in the Industrial Hemp Market are Hempco, Ecofibre, Hemp Inc, GenCanna, HempFlax BV, Konoplex Group, Hemp Oil Canada, BAFA, Hemp Poland, Dun Agro

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