Press release
Industrial Hemp Market Surges, Projected to Reach USD 88.42 Billion by 2030
๐๐ง๐๐ฎ๐ฌ๐ญ๐ซ๐ข๐๐ฅ ๐๐๐ฆ๐ฉ ๐๐๐ซ๐ค๐๐ญ ๐๐ง๐ญ๐ข๐๐ข๐ฉ๐๐ญ๐๐ ๐๐ซ๐จ๐ฐ๐ญ๐ก (๐๐๐๐):The global Industrial Hemp Market is on a robust growth trajectory, projected to expand from USD 11.16 billion in 2023 to USD 88.42 billion by 2030, at a staggering CAGR of 34.4% during the forecast period.
๐๐ง๐๐ฎ๐ฌ๐ญ๐ซ๐ข๐๐ฅ ๐๐๐ฆ๐ฉ ๐๐๐ซ๐ค๐๐ญ ๐๐ซ๐จ๐ฐ๐ญ๐ก ๐จ๐ซ ๐๐๐ฆ๐๐ง๐ ๐๐ง๐๐ซ๐๐๐ฌ๐ ๐จ๐ซ ๐๐๐๐ซ๐๐๐ฌ๐ ๐๐จ๐ซ ๐ฐ๐ก๐๐ญ ๐๐จ๐ง๐ญ๐๐ข๐ง๐ฌ??
Industrial hemp growing is becoming more legal. Hemp has been produced all over the world for its fiber and as an oilseed for a wide range of commercial and consumer products. Industrial hemp is derived from sativa L., a separate cultivar of the same species but not marijuana itself. The United States took several steps to legalize hemp growing as an agricultural commodity and remove it from the list of banned substances in the 2018 agriculture bill. However, hemp cannot be cultivated in the same way that other crops can.
New product developments from industrial hemp: As hemp growing becomes more permissible, corporations and research institutes are pushed to produce new products from industrial hemp. Biofuel is one such application that is likely to grow rapidly in the coming years. Biofuels are gaining popularity as the cost of oil (diesel and gasoline) rises and concerns about global warming grow. Hemp biodiesel, which can be used in any diesel-powered vehicle, is derived from hemp seed extract. Furthermore, ethanol, which is currently created from food crops such as wheat and corn, may be made from hemp. As a result, food production will be more efficient.
Insufficient processing facilities and planting and harvesting equipment: As one of the largest consumers of hemp-derived products, the United States has seen rapid growth in the industrial hemp industry since the crop was legalized by the government. However, there hasn't been enough reliable planting and harvesting machinery. Because of their fragility, air seeders used to plant hemp must have a low air volume while sowing. According to Marijuana Business Daily's hemp fact book, one of the most significant hurdles in 2019 is hemp processing, accounting for 47.7% of all challenges. In comparison, the purchasing of harvesting equipment accounts for approximately 26.3% of all obstacles. Furthermore, according to industry analysts, one of the major impediments to the expansion of the US industrial hemp market.
๐๐๐ฆ๐ฉ๐ฅ๐ ๐๐๐ช๐ฎ๐๐ฌ๐ญ ๐๐๐ฉ๐จ๐ซ๐ญ ๐๐ข๐ง๐ค ๐๐๐ญ๐๐ข๐ฅ๐ฌ ๐๐ฅ๐ข๐๐ค ๐๐๐ซ๐: https://www.maximizemarketresearch.com/request-sample/33440/
๐๐ง๐๐ฎ๐ฌ๐ญ๐ซ๐ข๐๐ฅ ๐๐๐ฆ๐ฉ ๐๐๐ซ๐ค๐๐ญ ๐๐ฏ๐๐ซ๐ฏ๐ข๐๐ฐ
The Industrial Hemp Market is divided into types, applications, and sources. The market is divided into four types: hemp seed, hemp seed oil and hemp fiber. The market is divided into applications such as food, drinks, personal care goods, textiles, pharmaceuticals, and others. The market is divided into two segments based on the source: organic and conventional. The market is divided into five regions: North America, Asia Pacific, Europe, the Middle East and Africa, and South America.
๐๐ง๐๐ฎ๐ฌ๐ญ๐ซ๐ข๐๐ฅ ๐๐๐ฆ๐ฉ ๐๐๐ซ๐ค๐๐ญ ๐๐๐ฉ๐จ๐ซ๐ญ ๐๐๐จ๐ฉ๐ ๐๐ง๐ ๐๐๐ฌ๐๐๐ซ๐๐ก ๐๐๐ญ๐ก๐จ๐๐จ๐ฅ๐จ๐ ๐ฒ
The Industrial Hemp market report offers a deep dive into the latest trends in sub-segments, revealing insights into revenue growth at local, regional, and global scales. current trends within sub-segments, shedding light on revenue growth at local, regional, and global levels. The report provides an inclusive view of the Industrial Hemp, it synthesizes qualitative and quantitative data. A full analysis of regional and sector-specific markets, including factors driving growth, limitations, potential opportunities, and obstacles, is essential for investors. Maximize Market Research Pvt Ltd has implemented a comprehensive research methodology to ensure the accuracy and reliability of the Industrial Hemp Market Report.
๐๐๐ช๐ฎ๐๐ฌ๐ญ ๐ ๐ซ๐๐ ๐๐๐ฆ๐ฉ๐ฅ๐ ๐๐จ๐ฉ๐ฒ (๐๐จ ๐๐ง๐๐๐ซ๐ฌ๐ญ๐๐ง๐ ๐ญ๐ก๐ ๐๐จ๐ฆ๐ฉ๐ฅ๐๐ญ๐ ๐๐ญ๐ซ๐ฎ๐๐ญ๐ฎ๐ซ๐ ๐จ๐ ๐ญ๐ก๐ข๐ฌ ๐๐๐ฉ๐จ๐ซ๐ญ [๐๐ฎ๐ฆ๐ฆ๐๐ซ๐ฒ + ๐๐๐]) : https://www.maximizemarketresearch.com/request-sample/33440/
๐๐ง๐๐ฎ๐ฌ๐ญ๐ซ๐ข๐๐ฅ ๐๐๐ฆ๐ฉ ๐๐๐ซ๐ค๐๐ญ ๐๐๐ ๐ฆ๐๐ง๐ญ๐๐ญ๐ข๐จ๐ง
๐๐ฒ ๐๐ฒ๐ฉ๐
Hemp Seed
Hemp Seed Oil
Hemp Fiber
The market is divided into four types: hemp seed, hemp seed oil, hemp oil, and hemp fiber. The hemp fiber category is likely to dominate the market over the forecast period. Hemp has two types of fibers: bast (outer long fibers) and hurds (interior short fibers). The bast fibers are further classified into two categories: primary bast fibres, which can be up to 50 mm long and contain between 50 and 70 percent cellulose, and secondary bast fibres, which are only approximately 2 mm long. Bast fibres are commonly used in the textile industry because they can be spun and knitted.
๐๐ฒ ๐๐ฉ๐ฉ๐ฅ๐ข๐๐๐ญ๐ข๐จ๐ง
Food, Beverages
Personal Care Products
Textiles
Pharmaceuticals
Others
๐๐ฒ ๐๐จ๐ฎ๐ซ๐๐
Organic
Conventional
Organic and conventional sources delineate market segmentation, with conventional hemp products currently holding a larger market share owing to cost-effectiveness. However, organic variants are gaining traction due to their perceived health benefits and environmental sustainability.
๐๐ง๐๐ฎ๐ฌ๐ญ๐ซ๐ข๐๐ฅ ๐๐๐ฆ๐ฉ ๐๐๐ซ๐ค๐๐ญ ๐๐๐ฒ ๐๐ฅ๐๐ฒ๐๐ซ๐ฌ
1. Valley Bio Ltd.
2. Hemp, Inc.
3. Terra Tech Corp.
4. American Hemp
5. Ecofiber Industries Operations
6. Botanical Genetics, LLC
7. Marijuana Company of America, Inc.
8. HempMedsBrasil
9. Biotechnology Co.
10.Plains Industrial Hemp Processing Ltd.
11.HempFlax B.V.
12.Industrial Hemp Manufacturing, LLC
13.Boring Hemp Company
14.Parkland Industrial Hemp Growers Cooperative Ltd.
๐๐ง๐๐ฎ๐ฌ๐ญ๐ซ๐ข๐๐ฅ ๐๐๐ฆ๐ฉ ๐๐๐ซ๐ค๐๐ญ ๐๐๐ซ๐ค๐๐ญ ๐๐๐ ๐ข๐จ๐ง๐๐ฅ ๐๐ฒ๐ง๐๐ฆ๐ข๐๐ฌ: ๐๐ก๐จ'๐ฌ ๐๐ฑ๐ฉ๐๐ซ๐ข๐๐ง๐๐ข๐ง๐ ๐ญ๐ก๐ ๐๐ข๐ ๐ก๐๐ฌ๐ญ ๐๐ซ๐จ๐ฐ๐ญ๐ก??
Europe is forecasted to witness the fastest growth in the Industrial Hemp Market, driven by burgeoning demand across food, beverage, and personal care segments. The region's proactive adoption of hemp fiber in construction and automotive industries further bolsters market expansion. Meanwhile, Asia Pacific, currently the largest market contributor, is propelled by robust production and consumption in nations like China, India, and Japan.
North America remains pivotal with substantial applications across various industries, particularly in personal care and building materials sectors. The region's affluent consumer base and increasing concerns regarding skin health and UV protection drive demand for hemp-based products.
๐๐จ๐ฆ๐ฉ๐๐ญ๐ข๐ญ๐ข๐ฏ๐ ๐๐๐ง๐๐ฌ๐๐๐ฉ๐
The Industrial Hemp Market boasts a competitive landscape with numerous players focusing on product innovation and expansion strategies. Key market participants are actively engaged in mergers, acquisitions, and partnerships to strengthen their market presence and leverage emerging opportunities.
The report provides comprehensive insights into market dynamics, segment analysis, and competitive strategies of leading players. Strategic frameworks such as PORTER and PESTEL analyses offer a holistic view of the market's macro-economic impact and regulatory environment, aiding stakeholders in informed decision-making.
๐๐จ๐ง๐๐ฅ๐ฎ๐ฌ๐ข๐จ๐ง
The Industrial Hemp Market presents significant growth prospects driven by expanding applications, regulatory advancements, and increasing consumer awareness. As the global economy recovers, the market is poised for accelerated growth, supported by technological innovations and sustainable practices in hemp cultivation and product development. Stakeholders are advised to capitalize on emerging opportunities and navigate regulatory complexities to harness the full potential of the burgeoning Industrial Hemp Market.
๐๐ก๐๐๐ค ๐๐ฎ๐ญ ๐ ๐๐ซ๐ข๐๐ ๐๐ฎ๐ฆ๐ฆ๐๐ซ๐ฒ ๐จ๐ ๐ญ๐ก๐ ๐๐๐ฉ๐จ๐ซ๐ญ ๐๐๐ซ๐: https://www.maximizemarketresearch.com/market-report/global-industrial-hemp-market/33440/
๐๐๐ฒ ๐ช๐ฎ๐๐ฌ๐ญ๐ข๐จ๐ง๐ฌ ๐๐ง๐ฌ๐ฐ๐๐ซ๐๐ ๐ข๐ง ๐ญ๐ก๐ ๐๐ง๐๐ฎ๐ฌ๐ญ๐ซ๐ข๐๐ฅ ๐๐๐ฆ๐ฉ ๐๐๐ซ๐ค๐๐ญ ๐๐ซ๐:
What is Industrial Hemp?
What was the Industrial Hemp market size in 2023?
What is the growth rate of the Industrial Hemp Market?
Who are the key players in the Industrial Hemp market?
Who are the leading companies and what are their portfolios in Industrial Hemp Market?
What are the recent industry trends that can be implemented to generate additional revenue streams for the Industrial Hemp Market?
Which are the factors expected to drive the Industrial Hemp market growth?
What are the different segments of the Industrial Hemp Market?
What growth strategies are the players considering to increase their presence in Industrial Hemp?
What are the upcoming industry applications and trends for the Industrial Hemp Market?
๐๐๐ฒ ๐๐๐๐๐ซ๐ข๐ง๐ ๐ฌ:
Past Market Size and Competitive Landscape
Past Pricing and price curve by region
Market Size, Share, Size & Forecast by Different Segment
Market Dynamics - Growth Drivers, Restraints, Opportunities, and Key Trends by Region
Market Segmentation - A detailed analysis by segment with their sub-segments and Region
Competitive Landscape - Profiles of selected key players by region from a strategic perspective
Competitive landscape - Market Leaders, Market Followers, Regional player
Competitive benchmarking of key players by region
PESTLE Analysis
PORTER's analysis
Value chain and supply chain analysis
Legal Aspects of Business by Region
๐๐จ๐จ๐ค ๐๐ก๐ซ๐จ๐ฎ๐ ๐ก ๐๐ฎ๐ซ ๐๐จ๐ฌ๐ญ ๐๐จ๐ฉ๐ฎ๐ฅ๐๐ซ ๐๐๐ฉ๐จ๐ซ๐ญ๐ฌ:
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๐๐จ๐ง๐ญ๐๐๐ญ ๐๐๐ฑ๐ข๐ฆ๐ข๐ณ๐ ๐๐๐ซ๐ค๐๐ญ ๐๐๐ฌ๐๐๐ซ๐๐ก:
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๐๐๐จ๐ฎ๐ญ ๐๐๐ฑ๐ข๐ฆ๐ข๐ณ๐ ๐๐๐ซ๐ค๐๐ญ ๐๐๐ฌ๐๐๐ซ๐๐ก:
Maximize Market Research is a multifaceted market research and consulting company with professionals from several industries. Some of the industries we cover include medical devices, pharmaceutical manufacturers, science and engineering, electronic components, industrial equipment, technology and communication, cars and automobiles, chemical products and substances, general merchandise, beverages, personal care, and automated systems. To mention a few, we provide market-verified industry estimations, technical trend analysis, crucial market research, strategic advice, competition analysis, production and demand analysis, and client impact studies.
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