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Report Overview
2023
Base Year
2018-2023
Historical Year
2024-2032
Forecast Year
Industrial Hemp Market Competitive Landscape
The report gives a detailed analysis of the following key players in the global industrial hemp market, covering their competitive landscape, capacity, and latest developments like mergers, acquisitions, and investments, expansions of capacity, and plant turnarounds:
- Hemp Inc
- Manitoba Harvest Hemp Foods
- Bombay Hemp Company Private Limit
- HempFlax Group B.V.
- HPS Food & Ingredients Inc.
- Unrivaled Brands, Inc
- Others
The comprehensive EMR report provides an in-depth assessment of the market based on the Porter's five forces model along with giving a SWOT analysis.
Industrial Hemp Market Report Snapshots
Industrial Hemp Market Analysis
*While we strive to always give you current and accurate information, the numbers depicted on the website are indicative and may differ from the actual numbers in the main report. At Expert Market Research, we aim to bring you the latest insights and trends in the market. Using our analyses and forecasts, stakeholders can understand the market dynamics, navigate challenges, and capitalize on opportunities to make data-driven strategic decisions.*
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Key Questions Answered in the Report
In 2023, the global industrial hemp market attained a value of USD 5,998.67 million in 2023.
The market is projected to grow at a CAGR of 19% between 2024 and 2032.
The market is estimated to witness a healthy growth in the forecast period of 2024-2032 to reach about USD 28,706.33 million by 2032.
The major drivers of the market, such as the rising demand from the textile industry, the increasing health and wellness sector, and the growing demand for organic personal care products are expected to aid the market growth.
The key trends propelling the market development include rising eco-consciousness, growing product awareness, evolving government policies regarding the use of industrial hemp in several countries, and the increasing demand for hemp-based products.
The major regions in the market are North America, Europe, Asia Pacific and LAMEA.
The major sources of industrial hemp in the market are conventional and organic.
The major product types in the market are hemp seed, hemp fibre, hemp seed oil, and CBD hemp oil.
The significant applications of industrial hemp include food and beverages, personal care, animal care, pharmaceuticals, textiles, and construction materials, among others.
The key market players are Manitoba Harvest Hemp Foods, Hemp Inc., Hemp Oil Canada Inc., HempFlax Group B.V., Hemp Production Services, and Unrivaled Brands, Inc, among others.
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