report thumbnailIndustrial Hemp Market

Industrial Hemp Market Unlocking Growth Potential: Analysis and Forecasts 2025-2033

Industrial Hemp Market by Source (Organic, Conventional), by Type (Hemp Seed, Hemp Seed Oil, Hemp Fiber, Others), by Application (Food [Dietary Supplements, Functional Foods], Beverages, Personal Care & Cosmetics, Textiles, Pharmaceuticals, Others), by North America (U.S., Canada, Mexico), by Europe (France, Germany, Italy, Spain, U.K., Russia, Rest of Europe), by Asia Pacific (China, India, Japan, Australia, Rest of Asia Pacific), by South America (Brazil, Argentina, Rest of South America), by Middle East & Africa (South Africa, UAE, Rest of Middle East & Africa) Forecast 2025-2033


Base Year: 2024

180 Pages
Main Logo

Industrial Hemp Market Unlocking Growth Potential: Analysis and Forecasts 2025-2033


Key Insights

The Industrial Hemp Marketsize was valued at USD 6.63 USD Billion in 2023 and is projected to reach USD 26.84 USD Billion by 2032, exhibiting a CAGR of 22.11 % during the forecast period. Industrial hemp is defined as Cannabis sativa that is grown particularly for industrial purposes having low concentrations of THC, the psychoactive material contained in marijuana. There are two primary types: This division is based on the utilization of the plant that includes; fiber hemp- mostly valued for its strong fibers used in making textiles, ropes, and paper; grain hemp- important for its nutritious seeds, used in food products as well as for oil. Industrial hemp grows faster, has a low pest and herbicide requirement, and has high biomass productivity regardless of climate. Its uses cut across textiles, automotive for its composites, construction for insulation, bioenergy/biofuels, and biopolymers/bioplastics. Thus, owing to its sustainability and the wide usage of products made of industrial hemp, it gains an increasing appreciation of the economic value and the impact on the environment in many countries. 

Industrial Hemp Market Research Report - Market Size, Growth & ForecastIndustrial Hemp Trends

  • Growing adoption of hemp-based products in various industries
  • Increased awareness about the health benefits of hemp
  • Government initiatives to support the hemp industry
  • Technological advancements in hemp cultivation and processing

Driving Forces: What's Propelling the Industrial Hemp Market

  • Rising demand for sustainable and eco-friendly materials, driven by increasing environmental consciousness
  • The growing popularity of hemp-based textiles, cosmetics, and food products, attributed to their perceived health benefits and durability
  • Legalization of hemp cultivation in several countries, such as the United States, Canada, and the European Union, opening up new markets and investment opportunities
  • Health benefits associated with hemp consumption, including potential therapeutic effects on inflammation, pain, and anxiety

Challenges and Restraints in the Industrial Hemp Market

  • Initial investment costs associated with hemp farming and processing
  • Stringent government regulations and compliance requirements
  • Limited availability of skilled labor
  • Lack of consumer awareness about hemp-based products

Emerging Trends in Industrial Hemp

  • Integration of blockchain technology for supply chain management
  • Development of novel hemp-derived cannabinoids for pharmaceutical applications
  • Increased investment in research and development of new hemp-based products

Growth Catalysts in the Industrial Hemp Industry

Industrial Hemp Market Growth

  • Government incentives and subsidies for hemp production
  • Partnerships and collaborations between industry players
  • Growing demand for hemp-based biofuels and composites

Market Segmentation: Industrial Hemp Analysis

Source:

Type:

Application:

  • Food (dietary supplements and functional foods)
  • Beverages
  • Personal care & cosmetics
  • Textiles
  • Pharmaceuticals
  • Others

Leading Players in the Industrial Hemp Market

Significant Developments in the Industrial Hemp Sector

  • January 2023: Bast Fibre Technologies Inc. (BFT) acquired Lumberton Cellulose LLC.
  • December 2022: InterCure Ltd. entered a licensing agreement with Binske.
  • September 2022: The Thai Industrial Hemp Trade Association signed a cooperation agreement with manufacturing associations.
  • October 2021: Bast Fibre Technologies acquired Faser Veredlung Tönisvorst.

Comprehensive Coverage Industrial Hemp Market Report

  • Market size and growth projections, providing an in-depth understanding of the industry's current and future scale and analyzing historical data to provide insights into market trends and growth drivers.
  • In-depth analysis of market segments and sub-segments, highlighting key growth areas and emerging trends, including market segments such as hemp fiber, hemp seed oil, and cannabidiol (CBD), and sub-segments based on end-use industries such as textiles, food and beverages, and pharmaceuticals.
  • Detailed profiles of key market players, offering insights into their strengths, weaknesses, recent developments, market share, and competitive strategies, including information on major industry players, emerging companies, and their product portfolios.
  • Industry trends and developments, tracking technological advancements, such as advancements in hemp cultivation and processing techniques, regulatory changes, such as the legalization of hemp in various countries, and market dynamics, such as shifting consumer preferences and increasing demand for sustainable products.
  • SWOT analysis and competitive landscape, providing a comprehensive overview of the market environment and competitive landscape, including Porter's Five Forces analysis to assess industry competition and identify potential threats and opportunities.

Regional Insight

  • North America: Analysis of market size, growth potential, key market trends, regulatory landscape, and competitive dynamics in countries such as the United States and Canada.
  • Europe: Examination of market size, growth drivers, key market segments, regulatory framework, and competitive landscape in countries such as the United Kingdom, Germany, and France.
  • Asia Pacific: Assessment of market size, growth prospects, emerging trends, regulatory environment, and competitive dynamics in countries such as China, India, and Japan.
  • Latin America: Analysis of market size, growth potential, key market segments, regulatory landscape, and competitive dynamics in countries such as Brazil, Mexico, and Argentina.
  • Middle East & Africa: Evaluation of market size, growth opportunities, regulatory framework, market challenges, and competitive landscape in countries such as Saudi Arabia, the United Arab Emirates, and South Africa.

Consumer Side Analysis

  • Consumer preferences and behavior
  • Market segmentation based on demographics and psychographics

Industrial Hemp Market REPORT HIGHLIGHTS

AspectsDetails
Study Period 2019-2033
Base Year 2024
Estimated Year 2025
Forecast Period2025-2033
Historical Period2019-2024
Growth RateCAGR of 22.11% from 2019-2033
Segmentation
    • By Source
      • Organic
      • Conventional
    • By Type
      • Hemp Seed
      • Hemp Seed Oil
      • Hemp Fiber
      • Others
    • By Application
      • Food [Dietary Supplements
      • Functional Foods]
      • Beverages
      • Personal Care & Cosmetics
      • Textiles
      • Pharmaceuticals
      • Others
  • By Geography
    • North America
      • U.S.
      • Canada
      • Mexico
    • Europe
      • France
      • Germany
      • Italy
      • Spain
      • U.K.
      • Russia
      • Rest of Europe
    • Asia Pacific
      • China
      • India
      • Japan
      • Australia
      • Rest of Asia Pacific
    • South America
      • Brazil
      • Argentina
      • Rest of South America
    • Middle East & Africa
      • South Africa
      • UAE
      • Rest of Middle East & Africa

Frequently Asked Questions

What is the projected Compound Annual Growth Rate (CAGR) of the Industrial Hemp Market ?

The projected CAGR is approximately 22.11%.

Which companies are prominent players in the Industrial Hemp Market?

Key companies in the market include Fresh Hemp Foods Ltd. (Canada),IND HEMP, LLC. (U.S.),Blue Sky Hemp Ventures (Canada),Panda Biotech, LLC (U.S.),Hemp Republic (India),South Hemp Tecno Srl (Italy),HEMP FACTORY (Germany),East Mesa (U.S.),DON Processing, Inc. (U.S.),HempFlax Group B.V. (Netherlands)

Are there any additional resources or data provided in the report?

While the report offers comprehensive insights, it's advisable to review the specific contents or supplementary materials provided to ascertain if additional resources or data are available.

Can you provide examples of recent developments in the market?

January 2023: Bast Fibre Technologies Inc. (BFT), a Canadian natural fiber manufacturer, acquired Lumberton Cellulose LLC, a North Carolina, U.S.-based natural fiber processing facility. According to the company, the acquisition will help expand its manufacturing operation in North America to cater to the growing sustainable natural fiber demand.

Are there any specific market keywords associated with the report?

Yes, the market keyword associated with the report is "Industrial Hemp Market," which aids in identifying and referencing the specific market segment covered.

What are the main segments of the Industrial Hemp Market?

The market segments include

How do I determine which pricing option suits my needs best?

The pricing options vary based on user requirements and access needs. Individual users may opt for single-user licenses, while businesses requiring broader access may choose multi-user or enterprise licenses for cost-effective access to the report.

What pricing options are available for accessing the report?

Pricing options include single-user, multi-user, and enterprise licenses priced at USD 4850 , USD 5850, and USD 6850 respectively.

Related Reports


About Market Research Forecast

MR Forecast provides premium market intelligence on deep technologies that can cause a high level of disruption in the market within the next few years. When it comes to doing market viability analyses for technologies at very early phases of development, MR Forecast is second to none. What sets us apart is our set of market estimates based on secondary research data, which in turn gets validated through primary research by key companies in the target market and other stakeholders. It only covers technologies pertaining to Healthcare, IT, big data analysis, block chain technology, Artificial Intelligence (AI), Machine Learning (ML), Internet of Things (IoT), Energy & Power, Automobile, Agriculture, Electronics, Chemical & Materials, Machinery & Equipment's, Consumer Goods, and many others at MR Forecast. Market: The market section introduces the industry to readers, including an overview, business dynamics, competitive benchmarking, and firms' profiles. This enables readers to make decisions on market entry, expansion, and exit in certain nations, regions, or worldwide. Application: We give painstaking attention to the study of every product and technology, along with its use case and user categories, under our research solutions. From here on, the process delivers accurate market estimates and forecasts apart from the best and most meaningful insights.

Products generically come under this phrase and may imply any number of goods, components, materials, technology, or any combination thereof. Any business that wants to push an innovative agenda needs data on product definitions, pricing analysis, benchmarking and roadmaps on technology, demand analysis, and patents. Our research papers contain all that and much more in a depth that makes them incredibly actionable. Products broadly encompass a wide range of goods, components, materials, technologies, or any combination thereof. For businesses aiming to advance an innovative agenda, access to comprehensive data on product definitions, pricing analysis, benchmarking, technological roadmaps, demand analysis, and patents is essential. Our research papers provide in-depth insights into these areas and more, equipping organizations with actionable information that can drive strategic decision-making and enhance competitive positioning in the market.

We use cookies to enhance your experience.

By clicking "Accept All", you consent to the use of all cookies.

Customize your preferences or read our Cookie Policy.