Press release
Hemp Market is projected to reach $19.37 Billion by 2030 : Cognitive Market Research
Hemp Market is projected to reach $19.37 Billion by 2030 : Cognitive Market Research
- Hemp is cultivated specifically for commercial or industrial purposes. Hence, it is also known as industrial hemp. Hemp appeared as a stout, aromatic, annual herb. Its cultivation practice though varies according to its intended use. Hemp is cultivated particularly for the industrial uses of the products that can be derived from its fibre, seeds, and flower.
Market Insights:
• As per Cognitive Market Research's latest published report, the Global Hemp market size will be $19.37 Billion by 2030. Hemp Industry's Compound Annual Growth Rate will be 22.63% from 2023 to 2030.
• The Asia Pacific Hemp Market dominates the Hemp Market!
"To know more about The Hemp Market Insights click here: https://www.cognitivemarketresearch.com/hemp-market-report
"To view the Infographics of the Hemp Market click here: https://www.cognitivemarketresearch.com/assets/images/report_images/report_infographics/Hemp_market_report_1680014869.jpg
Market Dynamics:
- Hemp is considered as one of the most versatile and sustainable crops since every part of the plant can be used for one or more purposes. For decades, hemp has been grown to make everything from building materials to textiles. Its wide-reaching growth potential is now beginning to be embraced and utilized.
Building & Construction industry is particularly creating a positive impact and this industry is expected to grow above global gross domestic product (GDP) growth over the next decade. The building and construction sectors are some of the largest sectors in the world economy. The continuous economic growth in various emerging and developed countries is adding lucrative financing deals with low-interest rates, which is anticipated to boost the revenues of the residential building sector.
Market Segmentation:
Type:
• Hemp Seed
• Hemp Oil
• Hemp Fiber
Application:
• Food
• Textiles
• Beverages
• Personal Care Products
• Pharmaceuticals
• Others
Source:
• Conventional
• Organic
Farm:
• Outdoor
• Indoor
Get free sample pages of the latest published Hemp Market Report: https://www.cognitivemarketresearch.com/hemp-market-report#request_sample
Competitive Analysis of Hemp Market:
Ecofibre, Hemp Inc., HempFlax Group B.V., Konoplex Group, Hemp Oil Canada, HemPoland, Dun Agro Hemp Group, Colorado Hemp Works, GenCanna, MH Medical Hemp
Regional Analysis:
- Asia Pacific region accounts for the maximum share of the hemp market. This is because of the active involvement of countries like China, India, Japan, Korea, Australia, New Zealand, and Thailand in the production of industrial hemp. China is considered the birthplace of hemp and has notoriously dominated the hemp market for years. Today, this country produces the largest amount of commercial hemp annually and remains the world's largest exporter of hemp paper, textiles and bio composites.
Hemp Industry News:
• February 2023
More than $35 million has been granted to five hemp-specific projects under the U.S. Department of Agriculture's "Partnerships for Climate-Smart Commodities" program.
• January 2023, Scottish bank has raised investment in hemp insulation maker to £5 million:
The Scottish National Investment Bank has boosted its investment in an Edinburgh company that makes hemp fiber-based insulation for the construction industry.
Related Reports:
• Legal Marijuana market - https://www.cognitivemarketresearch.com/legal-marijuana-market-report
• Cotton and Cotton Seed market - https://www.cognitivemarketresearch.com/cotton-and-cotton-seed-market-report
• Textile market - https://www.cognitivemarketresearch.com/textile-market-report
Article:
• Which industries are responsible for the growth of the methyl acetate market - https://www.cognitivemarketresearch.com/articles/which-industries-are-responsible-for-the-growth-of-the-methyl-acetate-market
Blog:
• What are the Benefits of Hemp that are Increasing its Market Opportunities? - https://www.cognitivemarketresearch.com/blog/what-are-the-benefits-of-hemp-that-are-increasing-its-market-opportunities
𝐂𝐨𝐧𝐭𝐚𝐜𝐭 𝐔𝐬
Nicolas Shaw
Cognitive Market Research
20 N State Street,Chicago,
Illinois, 60602
United States
USA: +1 312-376-8303
Europe and UK: (+44) 20-8144-9523
Asia Pacific: (+852) 81930785
Email: sales@cognitivemarketresearch.com
Website: https://www.cognitivemarketresearch.com/about-us
About Cognitive Market Research Company :
Cognitive Market Research has evolved as one leading market research and consulting firm and it provides services across multiple domains. Cognitive Market Research gathers and analyzes data about customers, competitors, distributors, and other market actors and forces operating across the value chain. As a market research company, we follow a complete process of gathering information about the target market and end-use industries to verify the complete journey of the product or service in the global market. It helps our readers understand the demand and viability of their product/service and how it might perform in the real world and help them to build business strategies accordingly.
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