Industrial Hemp Market to Expand at a CAGR of 19.8% will Reach USD 15.69 Bn by the End of 2028 Study by Introspective Market Research

Market Overview:
The Global Industrial Hemp Market was estimated at USD 4.43 billion in 2021 and is projected to reach USD 15.69 billion by 2028, growing at a CAGR of 19.8%.

Industrial hemp is a robust and fragrant annual herb cultivated for its high-quality fiber and edible seeds. It is known for its durability and longevity, making it a popular choice for manufacturing cordage such as twine, rope, yarn, cable, string, and artificial sponges. Industrial hemp is utilized in the production of a wide range of goods, including insulation materials, building materials, paper, textiles, fiberglass, nutraceuticals, personal care products, bioplastics, and biofuels. Industrial hemp serves as a renewable and environmentally-friendly source of raw material for the production of various products, including plastic, paper, and fuel.

𝐑𝐞𝐪𝐮𝐞𝐬𝐭 𝐟𝐨𝐫 𝐚 𝐬𝐚𝐦𝐩𝐥𝐞 𝐨𝐟 𝐭𝐡𝐢𝐬 𝐫𝐞𝐬𝐞𝐚𝐫𝐜𝐡 𝐫𝐞𝐩𝐨𝐫𝐭 𝐚𝐭 (𝐔𝐬𝐞 𝐂𝐨𝐫𝐩𝐨𝐫𝐚𝐭𝐞 𝐌𝐚𝐢𝐥 𝐈𝐝 𝐟𝐨𝐫 𝐐𝐮𝐢𝐜𝐤 𝐑𝐞𝐬𝐩𝐨𝐧𝐬𝐞) -
https://introspectivemarketresearch.com/reports/industrial-hemp-market/

Market Dynamics:
The industrial hemp market is experiencing significant growth driven by its diverse applications and product versatility. Hemp is a versatile crop that can be used in various industries, including textiles, paper, construction, biofuels, food and beverages, and personal care products. Hemp-based building materials, such as hempcrete, provide insulation and contribute to sustainable construction practices. Hemp seeds and oil are utilized in the food and beverage industry due to their nutritional value and potential health benefits. The diverse applications and product versatility of industrial hemp drive its market growth, appealing to industries and consumers seeking sustainable and innovative solutions.

Opportunities:
International trade and export opportunities in the industrial hemp market are rapidly expanding as more countries legalize hemp cultivation and embrace its versatile applications. Harmonization of regulations and standards, along with the establishment of trade agreements, facilitates smoother cross-border trade. Value-added processing and the production of finished hemp products enhance competitiveness and allow for higher profit margins. As the industrial hemp market continues to evolve, international trade presents a gateway to unlocking its full potential and establishing a thriving global hemp industry.

Market Segmentation Of Industrial Hemp Market
By Product Type, the hemp fibre segment is estimated to dominate the market. Hemp fiber is mostly used in the pulp and paper as well as textile industry, owing to its long and robust fibers when compared to cotton. As one of the sturdiest and most long-lasting organic fibres now on the market, hemp is a great material for outerwear. Even more than cotton, hemp clothing is reported to have three times the tensile strength. The strength of hemp fibres is retained while providing the comfort of softer, more refined textiles thanks to its ease of blending with other fibres to create hemp-hybrid materials. Hemp is a fantastic material for anyone searching for durable clothing since it has been grown since the dawn of agriculture. Additionally, growing hemp for use in fabric has only a minor negative impact on the environment. It is therefore perfect for individuals who are interested in living sustainably. Therefore, Hemp Fibre likely to dominate the segment and propel the growth of industrial hemp market.
• Seeds
• Fiber

By Application, the food segment is estimated to dominate the industrial hemp market during the forecasted period owing to the wide range of applications of hemp seeds and hemp seed oil, because of their rich protein, vitamin and omega-3 fatty acid content. Hemp seeds being used as a topping in cereals, smoothies, and yogurt or are consumed raw, are the major applications which are impacting for the rapid growth. The bank projects revenues to reach $16 billion by 2025, with food, beverage, cosmetics, and vapour also expected to play a major part in the growth of the sector whereas health and wellness items are expected to top the market. Rising consumer awareness about the health benefits of consuming hemp-based products is the major factor that is driving the market for its application in food.
• Animal care
• Textile
• Foods & Beverages
• Pharmaceuticals
• Personal care

By Source, the conventional source segment is estimated to dominate the market during the forecasted time. Industrial hemp is basically cultivated for fibre which is utilized in the textile and paper industry. Also, Conventional hemp protein is made from the Finola type of the Hempsativa plant's seeds. Hemp protein comes in a fine, greyish-light green powder with a distinct odour and nutty flavour. Conventional hemp protein can be used as an affordable and potent protein source. Additionally, cheaper prices of conventionally gained hemp as compared to organic source and their increasing applications in the automotive, construction & material, and furniture industries are expected to drive its market in the forecasted years.
• Organic
• Conventional

𝐁𝐮𝐲 𝐭𝐡𝐢𝐬 𝐏𝐫𝐞𝐦𝐢𝐮𝐦 𝐑𝐞𝐬𝐞𝐚𝐫𝐜𝐡 𝐑𝐞𝐩𝐨𝐫𝐭 | 𝐈𝐦𝐦𝐞𝐝𝐢𝐚𝐭𝐞 𝐃𝐞𝐥𝐢𝐯𝐞𝐫𝐲 𝐀𝐯𝐚𝐢𝐥𝐚𝐛𝐥𝐞 𝐚𝐭 -
https://introspectivemarketresearch.com/checkout/?user=1&_sid=16299

Regional Analysis Of Industrial Hemp Market
The European region is dominating in the Industrial Hemp Market owing to the increasing demand for hemp-based products, rising awareness regarding health benefits and changing government policies in the region. The strength to weight ratio, flexural strength, and high tensile strength of industrial hemp offer varied benefits and application in bio-composites for automotive parts, aerospace, fibreboard, and packaging in the European market. Furthermore, the product demand from the paper, building materials markets, and textile is growing on account of its favourable aesthetic and acoustic properties is driving the market growth of industrial hemp in this region. The rising demand for eco-friendly products in construction materials, fiberglass alternatives, thermal insulation, and automotive products is expected to promote market growth. The growing demand for technical products, such as varnishes, oil paints, fuel, solvents, chain-saw lubricants, printing inks, putty, and coatings, is expected to have a positive impact on the market growth.

North America is expected to grow steadily in the forecast period. Among the major consumers in the global market, North America is further projected to attain rapid growth in the industrial hemp market owing to the presence of several application industries. Moreover, high consumer disposable income levels, a growing geriatric population, and rising concerns related to skin diseases and UV protection are expected to drive the demand for hemp oil in the personal care industry in the region.

Asia Pacific is expected to dominate the industrial hemp market in the projected years. Economies, such as India, Japan, China, Korea, Australia, Thailand and New Zealand are actively involved in the production and consumption of industrial hemp and its products, such as fibre, seed, hurds, and oil. Rising product demand with innovation and advancing technologies are making harvesting easier for cultivators, thereby boosting the production of hemp production in the Asia Pacific region.
• North America (US, Canada, Mexico)
• Eastern Europe (Bulgaria, The Czech Republic, Hungary, Poland, Romania, Rest of Eastern Europe)
• Western Europe (Germany, UK, France, Netherlands, Italy, Russia, Spain, Rest of Western Europe)
• Asia Pacific (China, India, Japan, South Korea, Malaysia, Thailand, Vietnam, The Philippines, Australia, New Zealand, Rest of APAC)
• Middle East & Africa (Turkey, Bahrain, Kuwait, Saudi Arabia, Qatar, UAE, Israel, South Africa)
• South America (Brazil, Argentina, Rest of SA)

Top Key Players Covered In Industrial Hemp Market
• Parkland Industrial Hemp Growers Cooperative Ltd. (Canada)
• Botanical Genetics LLC (US)
• Marijuana Company of America Inc. (US)
• HempMedsBrasil (US)
• Terra Tech Corp. (USA)
• American HempCompany Inc. (Colorado)
• Industrial Hemp Manufacturing LLC (Amsterdam)
• American Hemp (USA)
• Hemp Inc. (US)
• Boring Hemp Company (Oregon)
• Plains Industrial Hemp Processing Ltd. (Canada)
• Ecofiber Industries Operations (Australia)
• Valley Bio Ltd. (Canada) and other major players.

𝐑𝐞𝐪𝐮𝐞𝐬𝐭 𝐟𝐨𝐫 𝐜𝐮𝐬𝐭𝐨𝐦𝐢𝐳𝐚𝐭𝐢𝐨𝐧 𝐨𝐟 𝐭𝐡𝐢𝐬 𝐫𝐞𝐬𝐞𝐚𝐫𝐜𝐡 𝐫𝐞𝐩𝐨𝐫𝐭 𝐚𝐭 -
https://introspectivemarketresearch.com/custom-research/16299

Key Industry Development In The Industrial Hemp Market
In December, 2021, Marijuana Company of America Inc. Acquires VBF Brands, Inc. Expanding Footprint in California's Growing HempGrower Market. Based on this activity since the acquisition was consummated in Q3 2021, MCOA expects that the following transaction will continue to be highly accretive to the Company's EBITDA expectations for 2022 and will also work towards increasing production at a nearby Salinas based facility that also offers exponential growth opportunities with other nearby land and facilities.

In May, 2019, GenCanna and Atalo Holdings (US) have entered into a new strategic partnership for building a vertically integrated hemp processing and distribution facility in Kentucky, US. This strategic partnership is estimated to boost the industrial hemp industry and attract more population for the overall development.

Table Of Content:
Chapter 1: Introduction
 1.1 Research Objectives
 1.2 Research Methodology
 1.3 Research Process
 1.4 Scope and Coverage
  1.4.1 Market Definition
  1.4.2 Key Questions Answered
 1.5 Market Segmentation

Chapter 2: Executive Summary

Chapter 3: Growth Opportunities By Segment
 3.1 By Product Type
 3.2 By Application
 3.3 By Source

Chapter 4: Market Landscape
 4.1 Porter's Five Forces Analysis
  4.1.1 Bargaining Power of Supplier
  4.1.2 Threat of New Entrants
  4.1.3 Threat of Substitutes
  4.1.4 Competitive Rivalry
  4.1.5 Bargaining Power Among Buyers
 4.2 Industry Value Chain Analysis
 4.3 Market Dynamics
  4.3.1 Drivers
  4.3.2 Restraints
  4.3.3 Opportunities
  4.5.4 Challenges
 4.4 Pestle Analysis
 4.5 Technological Roadmap
 4.6 Regulatory Landscape
 4.7 SWOT Analysis
 4.8 Price Trend Analysis
 4.9 Patent Analysis
 4.10 Analysis of the Impact of Covid-19
  4.10.1 Impact on the Overall Market
  4.10.2 Impact on the Supply Chain
  4.10.3 Impact on the Key Manufacturers
  4.10.4 Impact on the Pricing

Chapter 5: Industrial Hemp Market by Product Type
 5.1 Industrial Hemp Market Overview Snapshot and Growth Engine
 5.2 Industrial Hemp Market Overview
 5.3 Seeds
  5.3.1 Introduction and Market Overview
  5.3.2 Historic and Forecasted Market Size (2016-2028F)
  5.3.3 Key Market Trends, Growth Factors and Opportunities
  5.3.4 Seeds: Geographic Segmentation
 5.4 Fiber
  5.4.1 Introduction and Market Overview
  5.4.2 Historic and Forecasted Market Size (2016-2028F)
  5.4.3 Key Market Trends, Growth Factors and Opportunities
  5.4.4 Fiber: Geographic Segmentation
 5.5 Oil
  5.5.1 Introduction and Market Overview
  5.5.2 Historic and Forecasted Market Size (2016-2028F)
  5.5.3 Key Market Trends, Growth Factors and Opportunities
  5.5.4 Oil: Geographic Segmentation

Chapter 6: Industrial Hemp Market by Application
 6.1 Industrial Hemp Market Overview Snapshot and Growth Engine
 6.2 Industrial Hemp Market Overview
 6.3 Animal Care
  6.3.1 Introduction and Market Overview
  6.3.2 Historic and Forecasted Market Size (2016-2028F)
  6.3.3 Key Market Trends, Growth Factors and Opportunities
  6.3.4 Animal Care: Geographic Segmentation
 6.4 Textiles
  6.4.1 Introduction and Market Overview
  6.4.2 Historic and Forecasted Market Size (2016-2028F)
  6.4.3 Key Market Trends, Growth Factors and Opportunities
  6.4.4 Textiles: Geographic Segmentation
 6.5 Food and Beverages
  6.5.1 Introduction and Market Overview
  6.5.2 Historic and Forecasted Market Size (2016-2028F)
  6.5.3 Key Market Trends, Growth Factors and Opportunities
  6.5.4 Food and Beverages: Geographic Segmentation
 6.6 Pharmaceuticals
  6.6.1 Introduction and Market Overview
  6.6.2 Historic and Forecasted Market Size (2016-2028F)
  6.6.3 Key Market Trends, Growth Factors and Opportunities
  6.6.4 Pharmaceuticals: Geographic Segmentation
 6.7 Personal Care
  6.7.1 Introduction and Market Overview
  6.7.2 Historic and Forecasted Market Size (2016-2028F)
  6.7.3 Key Market Trends, Growth Factors and Opportunities
  6.7.4 Personal Care: Geographic Segmentation

Chapter 7: Industrial Hemp Market by Source
 7.1 Industrial Hemp Market Overview Snapshot and Growth Engine
 7.2 Industrial Hemp Market Overview
 7.3 Conventional
  7.3.1 Introduction and Market Overview
  7.3.2 Historic and Forecasted Market Size (2016-2028F)
  7.3.3 Key Market Trends, Growth Factors and Opportunities
  7.3.4 Conventional: Geographic Segmentation
 7.4 Organic
  7.4.1 Introduction and Market Overview
  7.4.2 Historic and Forecasted Market Size (2016-2028F)
  7.4.3 Key Market Trends, Growth Factors and Opportunities
  7.4.4 Organic: Geographic Segmentation

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