Industrial Hemp Market to Grow at a CAGR of 21.02% by 2031 | Industry Trends, Size, Share, Demand, Growth Drivers, and Competitive Landscape

Data Bridge Market Research analyzes that the global industrial hemp market, which was USD 6.74 billion in 2023, would reach up to USD 31.00 billion by 2031 and is expected to undergo a CAGR of 21.02% during the forecast period.

Hemp is a versatile plant belonging to the sativa species, but it contains negligible amounts of the psychoactive compound, unlike its cousin marijuana. Hemp has various industrial uses, including the production of fibers, seeds, and oil. The plant's strong and durable fibers are employed in textiles, ropes, and paper production. Hemp seeds are rich in nutrients and are utilized in food products like oils, protein powder, and snacks.

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Some of the major players operating in the Industrial hemp market report are Nhempco (Canada), Ecofibre (Australia), Hemp Inc. (U.S.), GenCanna (U.S.), HempFlax Group B.V., (Netherlands), Konoplex (Russia), Hemp Oil Canada (Canada), Hemp Poland (Poland), Dun Agro (Netherlands), Colorado Hemp Works (U.S.), Canah International (Romania), South Hemp Tecno (Italy), Plains Industrial Hemp Processing (Canada), MH Medical Hemp (Germany) among others.

Competitive Landscape and Global Industrial Hemp Market Share Analysis :

The Industrial hemp market competitive landscape provides details by competitor. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, global presence, production sites and facilities, production capacities, company strengths and weaknesses, product launch, product width and breadth, application dominance. The above data points provided are only related to the companies' focus related to Industrial hemp market.

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