Press release
Emerging Hemp Market Trends: Innovations In Hemp-Based Period Pads Shaping the Future of the Industry
Hemp Market
Hemp Market Size Growth Forecast: What to Expect by 2025?
The size of the hemp market has experienced tremendous expansion in the previous years. The market is set to escalate from $7.12 billion in 2024 to $8.6 billion in 2025 at a compound annual growth rate (CAGR) of 20.8%. The unprecedented growth during the historic period is credited to the escalating demand for textiles derived from hemp, burgeoning popularity of CB*D products made from hemp, heightened cognizance of environmental advantages that hemp offers, the rising demand for sustainable and organic products, as well as the expanding industrial usage of hemp fiber.
How Will the Hemp Market Size Evolve and Grow by 2029?
There is an anticipated substantial expansion in the hemp market size in the upcoming years, with a projected value of $18.15 billion by 2029 and a compound annual growth rate (CAGR) of 20.5%. This surge during the forecast period can be linked to the increased funding for hemp R&D, its escalating use in the automotive sector, a growing preference for plant-based protein sources, increased consumer attraction towards eco-friendly materials, and hemp's burgeoning role in pharmaceutical applications. Foreseen trends for the projected period envisage the use of hempcrete in eco-friendly construction, the incorporation of hemp into textile and fashion developments, the creation of hemp-focused pharmaceuticals, innovations in hemp crop genetics for superior yield, and the emergence of novel hemp-derived food items.
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What Drivers Are Propelling the Growth of Hemp Market Forward?
The surge in demand for natural and organic items is predicted to fuel the expansion of the hemp industry. A product considered natural and organic is crafted from components obtained from natural origins, devoid of synthetic chemicals, pesticides, or genetically modified organisms (GMOs), and usually manufactured according to organic farming norms. The upward trend in consumer awareness concerning health and environmental effects results in an increased liking for natural and organic alternatives. Hemp is employed as a natural and organic substance as it is cultivated without artificial chemicals, proves to be environmentally sustainable, and yields versatile, eco-friendly materials and nutrients. For example, in May 2023, the Organic Trade Association, a business alliance based in the US, reported that organic food sales in the United States exceeded $60 billion for the first time in 2022. The total organic sales, inclusive of both food and non-food stuffs, achieved an all-time high of $67.6 billion. Organic produce on its own brought in $22 billion, comprising 15% of the nation's overall fruit and vegetable sales. Consequently, the escalating demand for natural and organic items is promoting the growth of the hemp market.
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Which Emerging Trends Are Transforming the Hemp Market in 2025?
Corporations dominating the hemp industry are turning their attention to creating hemp-derived products, including menstrual pads, in a bid to offer a sanitary, absorbent and comfortable solution for managing menstrual cycles, thereby ensuring user comfort and protection. Hemp is chosen for menstrual pads for its environment-friendly, absorbent and antimicrobial attributes, thereby presenting a sustainable and convenient option over conventional materials. For example, Mewalii, an establishment based in Denmark that makes environmentally-friendly disposable pads, introduced menstrual pads produced from Sero regenerative hemp fibers in February 2024. The Mewalii Menstrual Pads are designed with a core made entirely of hemp fibers and a topsheet that combines hemp and viscose for extra softness and absorbency. The hemp fibers are mechanically softened to guarantee complete biodegradability. These pads, by employing hemp rather than cotton, reduce water, pesticide and land usage and also capitalize on hemp's low environmental impact and efficient carbon capture capacity.
What Are the Key Segments in the Hemp Market?
The hempmarket covered in this report is segmented -
1) By Product Type: Hemp Seed, Hemp Oil, Hemp Fiber
2) By Source: Conventional, Organic
3) By Farm: Outdoor, Indoor
4) By Application: Food And Beverages, Textiles, Personal Care And Cosmetics, Pharmaceuticals, Automotive, Construction, Other Applications
Subsegments:
1) By Hemp Seed: Whole Hemp Seeds, Shelled Hemp Seeds, Hemp Seed Protein Powder, Hemp Seed Oil
2) By Hemp Oil: Refined Hemp Oil, Unrefined Hemp Oil, Hemp Seed Oil, CB*D Hemp Oil
3) By Hemp Fiber: Long Hemp Fiber, Short Hemp Fiber, Hemp Fiber Products, Hemp Fiber For Paper Production
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Who Are the Key Players Shaping the Hemp Market's Competitive Landscape?
Major companies operating in the hemp market are Tilray Brands Inc., Konoplex LLC, Liaoning Qiaopai Biotech Co. Ltd., Aurora cannabis* Inc., Ecofibre Limited, ENDOCA BV, CV Sciences Inc., Navitas Organics, Elixinol LLC, US Hemp Wholesale, HempFlax Group BV, Colorado Hemp Works, Bast Fibre Technologies Inc., Dun Agro Hemp Group, GFR Ingredients Inc., Hemp Inc., HempMeds PX LLC, MH Medical Co. Ltd., The Hemp Mine, Valley Bio Ltd., Green Source Organics, Kazmira LLC
What Geographic Markets Are Powering Growth in the Hemp Market?
North America was the largest region in the hemp market in 2024. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the hemp market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
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