Press release
Industrial Hemp Market to Reach USD 88.42 Billion by 2030, Growing at 34.4% CAGR
Industrial Hemp Market
๐๐๐ฒ ๐๐ข๐ ๐ก๐ฅ๐ข๐ ๐ก๐ญ๐ฌ
๐ด๐๐๐๐๐ ๐ซ๐๐๐๐๐๐๐:Increasing legalization of hemp cultivation for industrial purposes and growing awareness of its ecological benefits are primary drivers.
๐บ๐๐๐๐๐๐๐๐ ๐จ๐๐๐๐๐๐๐:The fiber segment holds a significant share, followed by hemp seeds, which are gaining traction in the health food sector.
๐น๐๐๐๐๐๐๐ ๐ฐ๐๐๐๐๐๐๐:Detailed country-specific growth insights and updates are as follows:
๐๐๐ญ ๐ ๐ ๐ซ๐๐ ๐๐๐ฆ๐ฉ๐ฅ๐ ๐๐๐ฉ๐จ๐ซ๐ญ: https://www.maximizemarketresearch.com/request-sample/33440/ ๏ปฟ
๐๐ง๐๐ฎ๐ฌ๐ญ๐ซ๐ข๐๐ฅ ๐๐๐ฆ๐ฉ ๐๐๐ซ๐ค๐๐ญ ๐๐ซ๐จ๐ฐ๐ญ๐ก ๐๐ฉ๐ฉ๐จ๐ซ๐ญ๐ฎ๐ง๐ข๐ญ๐ข๐๐ฌ ๐ข๐ง ๐๐ข๐๐ญ๐ง๐๐ฆ
Vietnam is emerging as a significant player in the industrial hemp market. Recent government initiatives to promote hemp cultivation for export-oriented industries have opened up new avenues. Collaborations with global companies like ๐๐๐ฆ๐ฉ๐๐จ ๐๐ง๐ ๐๐๐จ๐ ๐ข๐๐ซ๐ have accelerated the adoption of hemp in textiles and construction materials. Vietnam is also witnessing a surge in research partnerships with universities for innovative hemp-based applications.
๐๐ง๐๐ฎ๐ฌ๐ญ๐ซ๐ข๐๐ฅ ๐๐๐ฆ๐ฉ ๐๐๐ซ๐ค๐๐ญ ๐๐ซ๐๐ง๐๐ฌ ๐ข๐ง ๐๐ก๐๐ข๐ฅ๐๐ง๐
Thailand's industrial hemp market is booming, particularly after its government legalized hemp for industrial use in 2021. The pharmaceutical sector is rapidly integrating hemp-derived products, driving significant investments. Key developments include partnerships between ๐๐จ๐ฒ๐๐ฅ ๐๐๐ฆ๐ฉ ๐๐ง๐ ๐๐ข๐๐ฆ ๐๐ข๐จ๐๐๐ข๐๐ง๐๐, focusing on the development of hemp-based medicinal products.
๐๐ง๐๐ฎ๐ฌ๐ญ๐ซ๐ข๐๐ฅ ๐๐๐ฆ๐ฉ ๐๐๐ซ๐ค๐๐ญ ๐๐ฉ๐ฉ๐จ๐ซ๐ญ๐ฎ๐ง๐ข๐ญ๐ข๐๐ฌ ๐ข๐ง ๐๐๐ฉ๐๐ง
Japan's stringent regulations around hemp cultivation have eased in recent years, creating opportunities for market expansion. The country's demand for high-quality hemp fiber in traditional textiles is growing. Recent investments by ๐๐ข๐ญ๐ฌ๐ฎ๐๐ข๐ฌ๐ก๐ข ๐๐จ๐ซ๐ฉ๐จ๐ซ๐๐ญ๐ข๐จ๐ง into hemp-based bioplastics highlight a shift toward sustainable solutions.
๐๐ง๐๐ฎ๐ฌ๐ญ๐ซ๐ข๐๐ฅ ๐๐๐ฆ๐ฉ ๐๐๐ซ๐ค๐๐ญ ๐๐ซ๐จ๐ฐ๐ญ๐ก ๐๐ซ๐๐ง๐๐ฌ ๐ข๐ง ๐๐จ๐ฎ๐ญ๐ก ๐๐จ๐ซ๐๐
South Korea is witnessing significant growth in hemp-based health products, driven by increasing consumer demand for sustainable and organic products. ๐๐ ๐๐ก๐๐ฆ ๐๐ง๐ ๐๐๐ฆ๐ฉ๐ ๐ฎ๐ฌ๐ข๐จ๐ง have announced joint ventures to develop hemp-infused wellness products. Additionally, advancements in hemp-based cosmetics are expected to contribute substantially to market growth.
๐๐ง๐๐ฎ๐ฌ๐ญ๐ซ๐ข๐๐ฅ ๐๐๐ฆ๐ฉ ๐๐๐ซ๐ค๐๐ญ ๐๐ฎ๐ ๐๐จ๐ซ ๐๐๐ฆ๐ฉ ๐๐ง๐ง๐จ๐ฏ๐๐ญ๐ข๐จ๐ง ๐ข๐ง ๐๐ข๐ง๐ ๐๐ฉ๐จ๐ซ๐:
Singapore is positioning itself as a research and development hub for industrial hemp. Collaborations with firms like Canopy Growth are focused on innovative applications, including hemp-derived pharmaceuticals and nutraceuticals. The government's pro-research policies make it a key player in the region.
๐๐ง๐๐ฎ๐ฌ๐ญ๐ซ๐ข๐๐ฅ ๐๐๐ฆ๐ฉ ๐๐๐ซ๐ค๐๐ญ ๐๐๐ฒ ๐๐๐ฏ๐๐ฅ๐จ๐ฉ๐ฆ๐๐ง๐ญ๐ฌ ๐ข๐ง ๐ญ๐ก๐ ๐๐:
The US remains the largest market for industrial hemp, driven by increasing consumer awareness and diverse applications. The 2018 Farm Bill has continued to facilitate market expansion. Recent acquisitions by ๐๐ก๐๐ซ๐ฅ๐จ๐ญ๐ญ๐'๐ฌ ๐๐๐ ๐๐จ๐ฅ๐๐ข๐ง๐ ๐ฌ ๐๐ง๐ ๐๐ ๐๐๐ข๐๐ง๐๐๐ฌ have strengthened the market position of domestic players. The food and beverage sector has particularly benefitted from innovations in hemp-derived ingredients.
๐๐ง๐๐ฎ๐ฌ๐ญ๐ซ๐ข๐๐ฅ ๐๐๐ฆ๐ฉ ๐๐๐ซ๐ค๐๐ญ ๐๐จ๐ง๐ฌ๐จ๐ฅ๐ข๐๐๐ญ๐ข๐จ๐ง ๐ข๐ง ๐๐ฎ๐ซ๐จ๐ฉ๐:
Europe's industrial hemp market is thriving due to stringent sustainability regulations and consumer demand for eco-friendly products. Germany and France dominate the market, with companies like ๐๐๐ฆ๐ฉ๐ ๐ฅ๐๐ฑ ๐๐ง๐ ๐๐ข๐จ๐ซ๐ข๐ณ๐จ๐ง ๐๐ข๐จ๐ญ๐๐๐ก leading investments in R&D. Notably, the European Industrial Hemp Association (EIHA) has played a pivotal role in fostering market growth through lobbying efforts.
๐๐๐ ๐๐ซ ๐ญ๐จ ๐๐ข๐ฌ๐๐จ๐ฏ๐๐ซ ๐ฐ๐ก๐๐ญ'๐ฌ ๐ฐ๐ข๐ญ๐ก๐ข๐ง? ๐๐๐๐ฎ๐ซ๐ ๐ฒ๐จ๐ฎ๐ซ ๐ฌ๐๐ฆ๐ฉ๐ฅ๐ ๐๐จ๐ฉ๐ฒ ๐จ๐ ๐ญ๐ก๐ ๐ซ๐๐ฉ๐จ๐ซ๐ญ ๐ญ๐จ๐๐๐ฒ: https://www.maximizemarketresearch.com/request-sample/33440/
๐๐ง๐๐ฎ๐ฌ๐ญ๐ซ๐ข๐๐ฅ ๐๐๐ฆ๐ฉ ๐๐๐ซ๐ค๐๐ญ ๐๐๐ ๐ฆ๐๐ง๐ญ ๐๐ง๐๐ฅ๐ฒ๐ฌ๐ข๐ฌ:
๐๐ ๐ป๐๐๐
Hemp Seed
Hemp Seed Oil
Hemp Fiber
The market is divided into four categories based on type: hemp fiber, hemp seed, hemp seed oil, and hemp oil. Over the course of the forecast period, the hemp fiber segment is anticipated to dominate the market. The fibers of hemp are classified as hurds (inner short fibers) and bast (outer long strands). The bast fibers are further classified into two groups: primary bast fibers, which can reach a length of 50 mm and contain 50-70% cellulose, and secondary bast fibers, which are only around 2 mm long. Because bast fibers can be spun and knitted, they are mostly used in the textile industry.
๐๐ ๐จ๐๐๐๐๐๐๐๐๐๐
Food, Beverages
Personal Care Products
Textiles
Pharmaceuticals
Others
The market is divided into segments based on application, including food, drinks, textiles, personal care items, pharmaceuticals, and others. Forecasts indicate that the food segment will dominate the industrial hemp market. This is because hemp is used to make foods that are high in minerals including protein, calcium, zinc, iron, salt, potassium, and magnesium, as well as linoleic and linolenic acid and vitamin E. The most popular way to consume hemp seeds is raw or roasted. It is found in cereals, yogurt, smoothies, and salads. As veganism gains popularity worldwide, it is predicted that the demand for processed foods made from hemp, such as bars, flour, snacks, and cheese, will increase in response to the growing consumption of plant-based protein.
๐๐ ๐บ๐๐๐๐๐
Organic
Conventional
The market is divided into conventional and organic segments based on the source. Conventional hemp products dominated the industrial market since they are less costly than organic hemp products. Additionally, even though commercial hemp is not certified, it is rich in vitamins and other essential fatty acids.
๐๐จ ๐๐๐ฅ๐ฏ๐ ๐๐๐๐ฉ๐๐ซ ๐ข๐ง๐ญ๐จ ๐ญ๐ก๐ข๐ฌ ๐ซ๐๐ฌ๐๐๐ซ๐๐ก, ๐ฉ๐ฅ๐๐๐ฌ๐ ๐๐จ๐ฅ๐ฅ๐จ๐ฐ ๐ญ๐ก๐ข๐ฌ ๐ฅ๐ข๐ง๐ค: https://www.maximizemarketresearch.com/request-sample/33440/
๐๐๐ฒ ๐๐ฅ๐๐ฒ๐๐ซ๐ฌ ๐๐ซ๐:
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.American Company, Inc.
15.Parkland Industrial Hemp Growers Cooperative Ltd.
๐๐ญ๐๐ฒ ๐๐ก๐๐๐ ๐จ๐ ๐ญ๐ก๐ ๐๐ฎ๐ซ๐ฏ๐ ๐ฐ๐ข๐ญ๐ก ๐ญ๐ก๐ ๐ญ๐ซ๐๐ง๐๐ข๐ง๐ ๐ซ๐๐ฌ๐๐๐ซ๐๐ก ๐๐ซ๐จ๐ฆ ๐๐๐ฑ๐ข๐ฆ๐ข๐ณ๐ ๐๐๐ซ๐ค๐๐ญ ๐๐๐ฌ๐๐๐ซ๐๐ก:
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๐๐จ๐ง๐ญ๐๐๐ญ ๐๐ฌ
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