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Leading Element Driving Change in the Industrial Hemp Market in 2025: Rising Demand For Sustainable Products Fuels Industrial Hemp Market Growth Driver
Industrial Hemp
The rise in demand for sustainable and environmentally friendly products is predicted to drive the expansion of the industrial hemp market. These products aim to reduce their impact on the environment by utilizing renewable resources, cutting down on waste, and maintaining ecological equilibrium. The surge in demand for these goods is a result of increased environmental consciousness, regulatory demands, a consumer penchant for greener substitutes, and business pledges to decrease carbon emissions. Industrial hemp is recognized for its fast growth rate, requiring fewer resources. It needs less pesticide and herbicide usage compared to traditional crops, resulting in decreased chemical leakage and reduced soil deterioration. For example, in March 2023, as per the US-based academic research center, NYU Stern Center for Sustainable Business (CSB), products marketed as sustainable secured a larger market share, despite high inflation in 2022. They comprised 17.3% of purchases, compared to conventionally marketed goods, reflecting a 0.3% growth from 2021. Consequently, the escalating demand for sustainable and environmentally friendly products bolsters the industrial hemp market.
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How will the growth rate of the industrial hemp market shape industry trends by 2034?
The dimension of the industrial hemp market has seen a rapid expansion in the past few years. Its growth is expected to rise from $7.34 billion in 2024 and reach $8.83 billion in 2025 with a compound annual growth rate (CAGR) of 20.4%. The expansion during the historic phase can be associated with a rise in demand for textiles made of hemp, greater understanding of the sustainability of hemp, increased utilization of hemp in building materials, the legalization of hemp farming in several nations, heightened demand for products derived from hemp, and the increased usage of hemp in animal feed.
The industrial hemp market is anticipated to experience a significant surge in the forthcoming years, expanding to $18.3 billion by 2029 with a compound annual growth rate (CAGR) of 20.0%. Numerous factors are contributing to this anticipated escalation during the forecast timeframe, including an increased deployment of hemp in automotive applications, a growing trend of using hemp in bioplastics, heightened demand for hemp in the food and beverage sector, increased focus on sustainable agriculture, and an expanding demand for hemp-derived dietary supplements. Further trends expected to be prevalent throughout the forecast period are advancements in hemp farming methodologies, broadened use of hemp in pharmaceutical arenas, the creation of hemp-based packaging solutions, incorporating hemp into sustainable construction initiatives, and ongoing improvements in genetically modifying hemp to boost yield.
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What trends are poised to drive the future success of the industrial hemp market?
Major companies in the industrial hemp market are concentrating their efforts on creating novel products, such as industrial hemp-based biochar. This product is devised to capture carbon, enhance soil conditions, and allow for revenue generation via carbon credits, all while promoting sustainable farming practices. The use of industrial hemp-based biochar improves soil quality and carbon capture, offering an eco-friendly solution beneficial to both farming and environmental conservation in the industrial hemp market. For example, in June 2024, the Canada-based agricultural tech firm Hempalta Corp., introduced a biochar product. This carbon-rich product is created from organic materials like industrial hemp using a process known as pyrolysis. This process involves heating biomass at elevated temperatures in a controlled-oxygen environment, ultimately leading to carbon capture. The resultant product improves soil quality and health, enhances water conservation, and fosters beneficial microbial activities. It also recycles farming waste into a valuable resource, enabling farmers to earn revenue through carbon credits since biochar aligns with carbon offset initiatives. Its applications range from landscaping and construction (as a component of hempcrete) to environmental cleanup, thereby supporting agricultural output and the fight against climate change.
Which primary segments of the industrial hemp market are driving growth and industry transformations?
The industrial hempmarket covered in this report is segmented -
1) By Type: Hemp Seed, Hemp Seed Oil, Cannabidiol* Hemp Oil, Hemp Bast, Hemp Hurd
2) By Source: Conventional, Organic
3) By Application: Food And Beverages, Textiles, Pharmaceuticals, Personal Care Products, Animal Nutrition, Paper, Construction Materials, Other Applications
Subsegments:
1) By Hemp Seed: Whole Hemp Seeds, Hulled Hemp Seeds, Hemp Seed Protein Powder
2) By Hemp Seed Oil: Cold-Pressed Hemp Seed Oil, Refined Hemp Seed Oil, Hemp Seed Oil Capsules
3) By Cannabidiol* Hemp Oil: Full-Spectrum Oil, Broad-Spectrum Oil, Isolate Oil
4) By Hemp Bast: Hemp Fiber, Hemp Textiles, Hemp Composites
5) By Hemp Hurd: Hemp Hurd For Bio-composites, Hemp Hurd For Animal Bedding, Hemp Hurd For Biofuels
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Which geographical regions are pioneering growth in the industrial hemp market?
North America was the largest region in the industrial hemp market in 2024. The regions covered in the industrial hemp marker report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
Who are the influential players reshaping the industrial hemp market landscape?
Major companies operating in the industrial hemp marker are Curaleaf Holdings Inc., Aurora Cannabis* Inc., Konoplex Group, Plains Industrial Hemp Processing Ltd., Manitoba Harvest Hemp Foods Information, Ecofibre Limited, Elixinol, HempFlax Group BV, PureHemp Technology, Zelios, Parkland Industrial Hemp Growers Cooperative Ltd., Marijuana Company of America Inc., IND HEMP LLC, Blue Sky Hemp Ventures Ltd., Bombay Hemp Company, Panda Biotech LLC, HempMeds Brasil, Hempro International GmbH, Dun Agro Hemp Group, Greenfield Paper Company, Hempco Food and Fiber Inc., Bast Fibre Technologies Inc., Treehouse Biotech, The Hemp Mine, Bastcore Inc., Bluebird Botanicals, South Hemp Tecno Srl
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What Is Covered In The Industrial Hemp Global Market Report?
•Market Size Forecast: Examine the industrial hemp market size across key regions, countries, product categories, and applications.
•Segmentation Insights: Identify and classify subsegments within the industrial hemp market for a structured understanding.
•Key Players Overview: Analyze major players in the industrial hemp market, including their market value, share, and competitive positioning.
•Growth Trends Exploration: Assess individual growth patterns and future opportunities in the industrial hemp market.
•Segment Contributions: Evaluate how different segments drive overall growth in the industrial hemp market.
•Growth Factors: Highlight key drivers and opportunities influencing the expansion of the industrial hemp market.
•Industry Challenges: Identify potential risks and obstacles affecting the industrial hemp market.
•Competitive Landscape: Review strategic developments in the industrial hemp market, including expansions, agreements, and new product launches.
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