Press release
United States Industrial Hemp Market to Reach USD 8.7 Billion by 2033, Growing at 20.1% CAGR
Market Size in 2024: USD 1.6 Billion
Market Forecast in 2033: USD 8.7 Billion
Market Growth Rate (2025-2033): 20.1%
United States industrial hemp market size reached USD 1.6 Billion in 2024. Looking forward, IMARC Group expects the market to reach USD 8.7 Billion by 2033, exhibiting a growth rate (CAGR) of 20.1% during 2025-2033. The growing demand for breathable and comfortable clothing options, increasing focus on maintaining a healthy lifestyle among people, and rising need to mitigate greenhouse gas (GHG) emissions and combat climate change represent some of the key factors driving the market.
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United States Industrial Hemp Market Industry Trends and Drivers:
The United States industrial hemp market is experiencing significant growth, driven by increasing consumer demand for sustainable and eco-friendly products across various industries. The rising adoption of hemp-based materials in textiles, bioplastics, and construction is accelerating market expansion, as manufacturers seek renewable alternatives to traditional raw materials. Government initiatives supporting hemp cultivation and the relaxation of federal restrictions are further strengthening market dynamics, enabling farmers and businesses to explore new opportunities. The surge in research and development activities is fostering innovation, leading to improved hemp-derived products with enhanced properties and applications. Additionally, the growing awareness of hemp's versatility, including its use in personal care, food, and beverages, is broadening its market scope, making it an attractive investment opportunity for stakeholders.
A key driver of the United States industrial hemp market is the increasing demand for products in the health and wellness sector. The rapid expansion of the nutraceutical and pharmaceutical industries is propelling the adoption of hemp-derived recognized for its potential therapeutic benefits. Consumers are shifting towards plant-based solutions for pain management, anxiety relief, and overall well-being, prompting manufacturers to introduce innovative -infused formulations. Moreover, the legalization of hemp-based at the federal level is encouraging market participants to expand their product portfolios and distribution channels. Strategic collaborations between pharmaceutical companies, research institutions, and hemp cultivators are further enhancing product quality and accessibility, reinforcing the industry's long-term growth trajectory.
Sustainability concerns and advancements in agricultural technology are also shaping the United States industrial hemp market. Farmers are increasingly utilizing precision farming techniques, sustainable cultivation practices, and genetically optimized hemp varieties to maximize yield and quality. The crop's low environmental impact, including its ability to absorb carbon dioxide and improve soil health, is attracting interest from eco-conscious industries and policymakers advocating for green alternatives. Additionally, the integration of hemp into bioplastics, biofuels, and sustainable packaging solutions is positioning it as a crucial component of the circular economy. As consumer preferences shift towards sustainable products and regulatory frameworks continue to evolve, the industrial hemp market in the United States is set to witness robust expansion, offering diverse opportunities across multiple sectors.
United States Industrial Hemp Market Industry Segmentation:
The report has segmented the market into the following categories
Type Insights:
Hemp Seed
Hemp Oil
Hemp Fiber
Others
Source Insights:
Conventional
Organic
Application Insights:
Food and Beverages
Textiles
Personal Care Products
Pharmaceuticals
Others
Breakup by Region:
Northeast
Midwest
South
West
Competitive Landscape:
The competitive landscape of the industry has also been examined along with the profiles of the key players.
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Key highlights of the Report:
Market Performance (2019-2024)
Market Outlook (2025-2033)
COVID-19 Impact on the Market
Porter's Five Forces Analysis
Strategic Recommendations
Historical, Current and Future Market Trends
Market Drivers and Success Factors
SWOT Analysis
Structure of the Market
Value Chain Analysis
Comprehensive Mapping of the Competitive Landscape
Note: If you need specific information that is not currently within the scope of the report, we can provide it to you as a part of the customization.
IMARC Group
134 N 4th St. Brooklyn, NY 11249, USA
Email: sales@imarcgroup.com
Tel No:(D) +91 120 433 0800
United States: +1-631-791-1145
IMARC Group is a global management consulting firm that helps the world's most ambitious changemakers to create a lasting impact. The company provide a comprehensive suite of market entry and expansion services. IMARC offerings include thorough market assessment, feasibility studies, company incorporation assistance, factory setup support, regulatory approvals and licensing navigation, branding, marketing and sales strategies, competitive landscape and benchmarking analyses, pricing and cost research, and procurement research.
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