Industrial Hemp Market to Reach USD 88.42 Billion by 2030, Growing at 34.4% CAGR

Industrial Hemp Market Overview

Maximize Market Research is a Business Consultancy Firm that has published a detailed analysis of the “Industrial Hemp Market”. The report includes key business insights, demand analysis, pricing analysis, and competitive landscape. The analysis in the report provides an in-depth aspect at the current status of the Industrial Hemp market, with forecasts outspreading to the year 2030.

There are three segments in the industrial hemp market: type, application, and source. The market is divided into four categories based on type: hemp fibre, hemp seed, hemp seed oil, and CBD hemp oil. The market is divided into categories based on application, including food, drinks, personal hygiene items, textiles, medicines, and others. The market is divided into organic and conventional segments based on the source. The market is divided into five regions: North America, Europe, Middle East & Africa, Asia Pacific, and South America.

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Industrial Hemp Market Scope and Methodology:

The market is expanding because to the demand for industrial hemp from application industries around the world, such as the food and beverage, personal care, and animal care sectors. Furthermore, the market is expanding significantly as a result of several factors, such as a rise in the prevalence of chronic illnesses like diabetes, a rise in the use of hempseed oil and hemp seeds in a variety of food applications, a rise in the use of non-psychoactive cannabinoid cannabidiol (CBD)-CBD hemp oil in the food and pharmaceutical industries, and a rise in the legalisation of industrial hemp cultivation. The global market is only growing modestly as a result of the economic slowdown brought on by the COVID-19 pandemic, which has decreased industrial output. Thus, the market has taken a severe hit.

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Industrial Hemp Market Regional Insights

Several measures are employed to predict the market’s future prospects. Buyer-direct transactions, research and development projects, innovative company practices, and market mergers and acquisitions are some examples. It includes plans, organizational charts, portfolios, and a critical review of top corporate executives. The market has undertaken a thorough SWOT and PESTLE analysis to guarantee that it identifies both market trends and microeconomic drivers.

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Industrial Hemp Market Segmentation :

by Type
Hemp Seed
Hemp Seed Oil
CBD Hemp Oil
Hemp Fiber

The market is divided into four categories based on type: hemp fibre, hemp seed, hemp seed oil, and CBD hemp oil. Over the course of the forecast period, the hemp fibre segment is anticipated to dominate the market. The fibres found in hemp are classified as either bast (outer long fibres) or hurds (inner short fibres). The other two types into which the bast fibres are further classified are primary bast fibres, which can be up to 50 mm long and contain 50–70% cellulose, and secondary bast fibres, which are only approximately 2 mm long.

by Application
Food, Beverages
Personal Care Products
Textiles
Pharmaceuticals
Others

The market is divided into categories based on application, including food, drinks, textiles, personal hygiene items, medicines, and others. Forecasts indicate that the food segment will dominate the industrial hemp market. This is because hemp is used to make foods that are rich in minerals including calcium, zinc, iron, salt, potassium, magnesium, and linoleic and linolenic acid as well as vitamin E. The most popular ways to consume hemp are as raw or roasted hemp seed. It’s in cereals, yoghurt, salads, and smoothies.

by Source
Organic
Conventional

Industrial Hemp Market Key Players :

1. Valley Bio Ltd.
2. Hemp, Inc.
3. Terra Tech Corp.
4. American Hemp
5. Ecofiber Industries Operations
6. Botanical Genetics, LLC
7. Marijuana Company of America, Inc.
8. HempMedsBrasil
9. CBD Biotechnology Co.
10.Plains Industrial Hemp Processing Ltd.
11.HempFlax B.V.
12.Industrial Hemp Manufacturing, LLC
13.Boring Hemp Company
14.American Cannabis Company, Inc.
15.Parkland Industrial Hemp Growers Cooperative Ltd.

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Key questions answered in the Industrial Hemp Market are:

What is Industrial Hemp ?
What is the growth rate of the Industrial Hemp Market?
What was the Industrial Hemp Market size in 2023?
What are the upcoming opportunities and trends for the Industrial Hemp Market?
What are the different segments of the Industrial Hemp Market?
What are the recent industry trends that can be implemented to generate additional revenue streams for the Industrial Hemp Market?
What segments are covered in the Industrial Hemp Market?
Which are the factors expected to drive the Industrial Hemp Market growth?
What growth strategies are the players considering to increase their presence in Industrial Hemp ?
Who are the leading companies and what are their portfolios in Industrial Hemp Market?
Who are the key players in the Industrial Hemp market?
What is the CAGR at which the Industrial Hemp market will grow during the forecast period?

Key Offerings:

Past Market Size and Competitive Landscape
Past Pricing and price curve by region
Market Size, Share, Size & Forecast by different segment |
Market Dynamics – Growth Drivers, Restraints, Opportunities, and Key Trends by Region
Market Segmentation – A detailed analysis by segment with their sub-segments and Region
Competitive Landscape – Profiles of selected key players by region from a strategic perspective
Competitive landscape – Market Leaders, Market Followers, Regional player
Competitive benchmarking of key players by region
PESTLE Analysis
PORTER’s analysis
Value chain and supply chain analysis
Legal Aspects of Business by Region
Lucrative business opportunities with SWOT analysis
Recommendations

About Maximize Market Research:

Maximize Market Research is a multifaceted market research and consulting company with professionals from several industries. Some of the industries we cover include medical devices, pharmaceutical manufacturers, science and engineering, electronic components, industrial equipment, technology and communication, cars and automobiles, chemical products and substances, general merchandise, beverages, personal care, and automated systems. To mention a few, we provide market-verified industry estimations, technical trend analysis, crucial market research, strategic advice, competition analysis, production and demand analysis, and client impact studies.

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