Industrial Hemp Market size is expected to reach at a CAGR of 16.27% by 2027

10 Dec 2021

Industrial Hemp Market applies the most effective of each primary and secondary analysis to weighs upon the competitive landscape and also the outstanding market players expected to dominate Industrial Hemp Market place for the forecast 2021– 2027.

Industrial Hemp Market to grow at a CAGR of 16.27% CAGR during 2021-2027.

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Scope of The Industrial Hemp Market Report:

Shift in health trends & user sociological towards healthy foods, rising elderly population, and improving personal health will boost growth of the global market.

Industrial hemp is an agricultural product delivering fibers, seeds, and shives for their usage majorly in nutritional supplements, food & beverages, personal care, animal feed, pulp & paper, textile, building materials, bio-composites, and animal bedding. Dietary benefits related with the product, which is a rich source of omega-6, omega-3, protein, and amino acids, is expected to power the requirement of industrial hemp.

Industrial hemp is a niche crop cultivated for its environmental benefits, unique properties, and high yield of natural fiber. The large biomass productivity of hemp fiber is making wide series of opportunities for firms comprised in textile manufacturing as well as makers of technical textiles comprising canvas, geotextiles, and carpets amongst different others thus powering the growth of the market.

The snacks & cereals section in the food application is predicted to power the global market. Hemp is used as a breakfast cereal owing to its nutrient-rich report of important fatty acids, which are required for the proper operation of the body. Moreover, the increasing requirement for hemp snacks as post-exercise meal, owing to their high protein value, is predicted to power their sales in the years to come.

The hemp fiber section is expected to rule the market during the coming period. Hemp has two kinds of fibers: hurds (inner short fibers) and bast (outer long fibers). The bast fibers are segmented further into two kinds: secondary bast fibers, which are almost 2 mm long; and primary bast fibers, which are almost 50 mm long and have almost 50–70% cellulose. Bast fibers can be woven and spun, and are therefore, mainly employed in the textile sector.

Industrial Hemp Companies
The major players included in the global industrial hemp market forecast are,

American Cannabis Company
Marijuana Company of America
Valley Bio Limited
Terra Tech Corp
 
Industrial Hemp Market Key Segments:

By Type: Hemp seed, Hemp seed oil, CBD hemp oil, Hemp fiber

By Application: Food, Beverages, Personal care products, Textiles, Pharmaceuticals, Others

By Source: Organic, Conventional

Rising Applications In Food & Beverage, Personal Care, Bio Composite, And Textile Sectors Is Expected To Power Industrial Hemp Market Size

Rising applications in food & beverage, personal care, bio composite, and textile sectors is expected to power industrial hemp market size. Rise in hemp oil requirement due to high essential fatty acids level that alleviate and prevents ailments are the factors adding to growth of the global market from food & beverage industry. Shift in health trends & user sociological towards healthy foods, rising elderly population, and improving personal health will boost growth of the global market. Hemp seeds are employed in margarine, salad oil, dairy alternative, and protein flour due to its favorable nutrient profile. Solid development in food & beverage industry all over the world along with increasing user consciousness associated to essential oils, fatty acids, vitamins, minerals, protein, and fiber content present is expected to add towards product requirement.

The Industrial Hemp Market Size In North America, Power By The US And Canada, Is Predicted To Clock A Huge Development

The industrial hemp market size in North America, power by the US and Canada, is predicted to clock a huge development due to increasing consumer awareness related to product advantages. Increasing popularity of CBD or cannabidiol goods due to rising consumer awareness associated to medical advantages related to it comprising natural healing and restorative properties is expected to power CBD market requirement from personal care sector in the area. The demand for industrial hemp market in Europe, led by France, UK, Germany, and Italy, may grow strongly over the coming period.

Market by Regional Analysis

North America (USA, Canada, Mexico), Europe (UK, France, Germany, Russia, Rest of Europe), Asia-Pacific (China, South Korea, India, Japan, Rest of Asia-Pacific), LAMEA, Latin America, Middle East, Africa

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