Industrial Hemp Market, Global Forecast 2023-2028, Industry Trends, Growth, Impact of Inflation, Opportunity Company Analysis
Industrial Hemp Market Outlook
Global Industrial Hemp Market will grow to US$ 15.01 Billion in 2028, according to Renub Research. The hemp industry worldwide is booming, with a new crop of entrepreneurs ready to battle the odds and bet big on the versatile plant by creating innovative products that fit right into the wellness zeitgeist. Industrial hemp is a versatile plant that can be built up for its fiber, seed, or oil. Over time, industrial hemp has evolved into an even greater variety of products, including health foods, organic body care, clothing, construction materials, biofuels, plastic composites, and more.
Furthermore, The U.S. Department of Agriculture created a regulatory framework around hemp production throughout the United States. Also, In the U.K., the Department for Environment, Food, and Rural Affairs treat hemp as a purely non-food crop. Still, with proper licensing and proof of less than 0.3% THC concentration, hemp seeds can be imported for sowing or sale as a food or food ingredient.
Worldwide Industrial Hemp Market to Grow with a CAGR of 21.22%, from 2022 to 2028
The increasing demand by the pharmaceutical and textile industry and rising consumer awareness about product benefits significantly drive the primary factors. Besides this, the growing consumption of hemp-based products on health benefits and the escalating incidences of epilepsy and other sleep disorders is anticipated, and the long-term profitability of industrial hemp is a real hindrance for potential growers.
Growing Awareness of Several Nutritional Benefits of Hemp Seeds is primarily driving the Global Market
Based on the Product, Global Industrial Hemp Market was categorized into four types: Seeds, Stalks, Fibers, and Others. Seeds will capture the most significant market during the forecast period due to the high demand for seeds in the food and beverage industry commercial industries.
Furthermore, Hemp fibers are mainly used in paper, carpeting, home furnishing, construction materials, and auto parts and composites. In Europe, Hemp Fibers are used for manufacturing car parts, textiles, and construction materials. China has always been the leading industrial hemp producer, primarily for its fiber. In European countries, France is one of the big producers of Industrial Hemp. However, Canada and the United States of America are becoming large producers with a growing influence on international markets. Overall, about 40 other countries currently produce significant quantities of industrial hemp.
Rise of Eco-Friendly Shoppers: Fuelling Textiles Hemp Demand
Based on application, the market is classified into Textiles, Personal Care, Food & Beverages, Animal Care, Paper, Automotive, Construction Materials, Furniture, and Others. The textile application segment will lead the market share in 2022 because the textile industry deals with hemp plant cultivation for fiber production.
Hemp is a fast-growing plant with the ability to sequester an average of zero-point-six-seven tons of carbon dioxide per hectare every year from the atmosphere. This sustainably means that it turned into consistent, durable material, and hemp can store carbon for its lifetime, thus reducing carbon in the atmosphere. Therefore, it could impact global carbon reduction goals negatively if used to substitute more carbon-intensive materials and products.
However, the abuse of the hemp plant as a drug was one of the most significant factors that caused the textile industry to turn away from hemp, but it was not the only reason. Therefore, cotton fiber processing technologies also drove the market's growth in the same period.
Currently, in North America, the grain industry is driving the development of the Hemp Crop
Based on region, the market is classified into North America, Europe, Asia Pacific, and the Rest of the World. The Asia Pacific holds the largest market share due to easy access to raw materials and the rising global demand for hemp from Asia.
Industrial hemp production has remained legal throughout most of the world. Approximately 30 countries in Europe, Asia, and North and South America allow farmers to grow hemp. The world hemp fiber market continues to be dominated by China. Other notable countries include France, Germany, the U.K., Chile, and the Democratic People's Republic of Korea.
Countries are actively involved in producing and consuming industrial hemp and its products, such as producing and consuming easing global product demand and advancing technologies and innovation, making harvesting easier for cultivation. In addition, increasing consumption of hemp-based food products and supplements in developing economies with a growing geriatric population is expected to drive the regional market over the upcoming year.
Key Players Analysis
Some key companies are Marijuana Company of America Inc, American Cannabis Company, Inc, Ecofibre Limited, Aurora Cannabis, Agropur, and Darling Ingredients Inc.
- In January 2022, Hemp Inc. launched cannabidiol acid (CBDA) and cannabigerol acid (CBGA) products in response to new COVID study findings. These products will come in various potencies, flavors, and formulae.
- In February 2021, Hem Poland launched CannabiGold Sport, a range of CBD pre- and post-workout supplements made from hemp for professional and recreational athletes.
Renub Research report titled “Global Industrial Hemp Market & Forecast, By Product (Seeds, Stalks, Fibers, and Others), by Application (Textiles, Personal Care, Food & Beverages, Animal Care, Paper, Automotive, Construction Materials, Furniture, and Others), by Region (North America, Europe, Asia Pacific, and the Rest of the World) Companies (Marijuana Company of America Inc, American Cannabis Company, Inc, Ecofibre Limited, Aurora cannabis, Agropur and Darling ingredients Inc.)” provides a complete analysis of Worldwide Industrial Hemp Industry.
By Products – Global Industrial Hemp Market will divided into four types:-
1. Seeds
2. Stalks
3. Fibres
4. Others
By Application – Global Industrial Hemp Market will divided into nine types:-
1. Textiles
2. Personal Care
3. Food & Beverages
4. Animal Care
5. Paper
6. Automotive
7. Construction Materials
8. Furniture
9. Others
By Regions – Global Industrial Hemp Market will divided into four types:-
1. North America
2. Europe
3. Asia Pacific
4. Rest of the World
Company Analysis
1. Marijuana Company of America Inc.
2. American Cannabis Company, Inc.
3. Ecofibre Limited
4. Aurora cannabis
5. Agropur
6. Darling ingredients Inc.
Report Details:
| Report Features | Details |
| Base Year | 2022 |
| Historical Period | 2018 - 2022 |
| Forecast Period | 2023 - 2027 |
| Market | US$ Billion |
| Segment Covered | Product, Application, and Region |
| Region Covered | North America, Europe, Asia Pacific and Rest of World |
| Companies Covered | Marijuana Company of America Inc, American Cannabis Company, Inc, Ecofibre Limited, Aurora cannabis, Agropur and Darling ingredients Inc. |
| Customization Scope | 20% Free Customization |
| Post-Sale Analyst Support | 1 Year (52 Weeks) |
| Delivery Format | PDF and Excel through Email (We can also provide the editable version of the report in PPT/Word format on request) |
Frequently Asked Questions (FAQ):
1. How big is the Global Industrial Hemp Market?
2. What will drive the market size of the Global Industrial Hemp Market?
3. How did the ongoing coronavirus (COVID-19) pandemic impact the growth?
4. Which segment holds the largest market share?
5. How will Global Industrial Hemp Market perform in 2028?
1. Introduction
2. Research & Methodology
3. Executive Summary
4. Market Dynamics
4.1 Growth Driver
4.2 Challenges
5. Global Industrial Hemp Market
6. Market Share – Global Industrial Hemp Analysis
6.1 By Products
6.2 By Application
6.3 By Regions
7. Products – Global Industrial Hemp Market
7.1 Seeds
7.2 Stalks
7.3 Fibers
7.4 Others
8. Application – Global Industrial Hemp Market
8.1 Textiles
8.2 Personal Care
8.3 Food & Beverages
8.4 Animal Care
8.5 Paper
8.6 Automotive
8.7 Construction Materials
8.8 Furniture
8.9 Others
9. Regions – Global Industrial Hemp Market
9.1 North America
9.2 Europe
9.3 Asia Pacific
9.4 Rest of the World
10. Merger & Acquisitions
11. Company Analysis
11.1 Marijuana Company of America Inc
11.1.1 Overview
11.1.2 Recent Development
11.1.3 Revenue
11.2 American Cannabis Company, Inc
11.2.1 Overview
11.2.2 Recent Development
11.2.3 Revenue
11.3 Ecofibre Limited
11.3.1 Overview
11.3.2 Recent Development
11.3.3 Revenue
11.4 Aurora cannabis
11.4.1 Overview
11.4.2 Recent Development
11.4.3 Revenue
11.5 Agropur
11.5.1 Overview
11.5.2 Recent Development
11.5.3 Revenue
11.6 Darling ingredients inc
11.6.1 Overview
11.6.2 Recent Development
11.6.3 Revenue
List of Figures:
Figure-01: Global – Industrial Hemp Market (Billion US$), 2018 – 2022
Figure-02: Global – Forecast for Industrial Hemp Market (Billion US$), 2023 – 2028
Figure-03: Products – Seeds Industrial Hemp Market (Million US$), 2018 – 2022
Figure-04: Products – Forecast for Seeds Industrial Hemp Market (Million US$), 2023 – 2028
Figure-05: Products – Stalks Industrial Hemp Market (Million US$), 2018 – 2022
Figure-06: Products – Forecast for Stalks Industrial Hemp Market (Million US$), 2023 – 2028
Figure-07: Products – Fibers Industrial Hemp Market (Million US$), 2018 – 2022
Figure-08: Products – Forecast for Fibers Industrial Hemp Market (Million US$), 2023 – 2028
Figure-09: Products – Others Industrial Hemp Market (Million US$), 2018 – 2022
Figure-10: Products – Forecast for Others Industrial Hemp Market (Million US$), 2023 – 2028
Figure-11: Application – Textiles Industrial Hemp Market (Million US$), 2018 – 2022
Figure-12: Application – Forecast for Textiles Industrial Hemp Market (Million US$), 2023 – 2028
Figure-13: Application – Personal Care Industrial Hemp Market (Million US$), 2018 – 2022
Figure-14: Application – Forecast for Personal Care Industrial Hemp Market (Million US$), 2023 – 2028
Figure-15: Application – Food & Beverages Industrial Hemp Market (Million US$), 2018 – 2022
Figure-16: Application – Forecast for Food & Beverages Industrial Hemp Market (Million US$), 2023 – 2028
Figure-17: Application – Animal Care Industrial Hemp Market (Million US$), 2018 – 2022
Figure-18: Application – Forecast for Animal Care Industrial Hemp Market (Million US$), 2023 – 2028
Figure-19: Application – Paper Industrial Hemp Market (Million US$), 2018 – 2022
Figure-20: Application – Forecast for Paper Industrial Hemp Market (Million US$), 2023 – 2028
Figure-21: Application – Automotive Industrial Hemp Market (Million US$), 2018 – 2022
Figure-22: Application – Forecast for Automotive Industrial Hemp Market (Million US$), 2023 – 2028
Figure-23: Application – Construction Materials Industrial Hemp Market (Million US$), 2018 – 2022
Figure-24: Application – Forecast for Construction Materials Industrial Hemp Market (Million US$), 2023 – 2028
Figure-25: Application – Furniture Industrial Hemp Market (Million US$), 2018 – 2022
Figure-26: Application – Forecast for Furniture Industrial Hemp Market (Million US$), 2023 – 2028
Figure-27: Application – Others Industrial Hemp Market (Million US$), 2018 – 2022
Figure-28: Application – Forecast for Others Industrial Hemp Market (Million US$), 2023 – 2028
Figure-29: North America – Industrial Hemp Market (Million US$), 2018 – 2022
Figure-30: North America – Forecast for Industrial Hemp Market (Million US$), 2023 – 2028
Figure-31: Europe – Industrial Hemp Market (Million US$), 2018 – 2022
Figure-32: Europe – Forecast for Industrial Hemp Market (Million US$), 2023 – 2028
Figure-33: Asia Pacific – Industrial Hemp Market (Million US$), 2018 – 2022
Figure-34: Asia Pacific – Forecast for Industrial Hemp Market (Million US$), 2023 – 2028
Figure-35: Rest of the World – Industrial Hemp Market (Million US$), 2018 – 2022
Figure-36: Rest of the World – Forecast for Industrial Hemp Market (Million US$), 2023 – 2028
Figure-37: Marijuana Company of America Inc – Global Revenue (Million US$), 2018 – 2022
Figure-38: Marijuana Company of America Inc – Forecast for Global Revenue (Million US$), 2023 – 2028
Figure-39: American Cannabis Company, Inc – Global Revenue (Million US$), 2018 – 2022
Figure-40: American Cannabis Company, Inc – Forecast for Global Revenue (Million US$), 2023 – 2028
Figure-41: Ecofibre Limited – Global Revenue (Million US$), 2018 – 2022
Figure-42: Ecofibre Limited – Forecast for Global Revenue (Million US$), 2023 – 2028
Figure-43: Aurora cannabis – Global Revenue (Million US$), 2018 – 2022
Figure-44: Aurora cannabis – Forecast for Global Revenue (Million US$), 2023 – 2028
Figure-45: Agropur – Global Revenue (Million US$), 2018 – 2022
Figure-46: Agropur – Forecast for Global Revenue (Million US$), 2023 – 2028
Figure-47: Darling ingredients inc – Global Revenue (Million US$), 2018 – 2022
Figure-48: Darling ingredients inc – Forecast for Global Revenue (Million US$), 2023 – 2028
List of Tables:
Table-01: Global – Industrial Hemp Market Share by Product (Percent), 2018 – 2022
Table-02: Global – Forecast for Industrial Hemp Market Share by Product (Percent), 2023 – 2028
Table-03: Global – Industrial Hemp Market Share by Application (Percent), 2018 – 2022
Table-04: Global – Forecast for Industrial Hemp Market Share by Application (Percent), 2023 – 2028
Table-05: Global – Industrial Hemp Market Share by Region (Percent), 2018 – 2022
Table-06: Global – Forecast for Industrial Hemp Market Share by Region (Percent), 2023 – 2028
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