Industrial Hemp Market
Global Industrial Hemp Market Size, Share & Trends Analysis Report by Type (Hemp Seed, Hemp Seed Oil, Hemp Fiber, and CBD Hemp Oil), by Source (Conventional, and Organic), and by Application (Food & Beverages, Personal Care, Textiles, Pharmaceuticals, and Others) Forecast Period (2022-2028) Update Available - Forecast 2024-2030
The global industrial hemp market is anticipated to grow at a significant CAGR of 17% during the forecast period. The increasing demand for dietary supplements with increasing consumer health awareness is one of the major factors adding to the growth of the industrial hemp market. Hemp seed and hemp seed oil have several medicinal properties and potential for treating diseases such as tumors, diabetes, and chronic pain. Moreover, growing awareness regarding the dietary advantages of hemp is likely to come up as a prospective driver for the growth of the global industrial hemp market. Due to rising demand, key players in the market are manufacturing and introducing hemp-based products targeting health, mood, stress, strain, and anxiety. For instance, in December 2021, Amado Group launched a hemp seed oil capsule named Amaprai Hemp Seed Oil Plus. Apart from hemp seed oil, each capsule contains nine other oils, and with its omega 3,6,9, vitamin C, D, E, and K content, it claims to support the immune system, nerves, bone, and joint health and serves as an antioxidant.
Impact of COVID-19 Pandemic on Global Industrial Hemp Market
The COVID-19 pandemic impacted almost every industry including food, personal care, and pharmaceuticals. Similarly, a disorder in global supply chains and trade barriers across the globe consequently impacted the production of hemp-based products. Moreover, lockdown in many countries disrupted the retail sector and the consumers were willing to buy only necessary products. However, some key players in the industry experienced soaring demand for cannabidiol (CBD) products since the begging of the COVID-19 pandemic. For instance, Alphagreen Group Ltd. reported that more than 8 million Britons were buying CBD products, with spending exceeding $171.3 million in the first four months of 2020 alone.
Segmental Outlook
The global industrial hemp market is segmented based on the type, source, and application. Based on the type, the market is segmented into hemp seed, hemp seed oil, hemp fiber, and CBD hemp oil. Based on the source, the market is sub-segmented into conventional, and organic. Further, based on application, the market is sub-segmented into food & beverages, personal care, textiles, pharmaceuticals, and others. Among the application segment, the food & beverage sub-segment is expected to cater to a prominent market share over the forecast period, however, the personal care segment is expected to experience a growth at the highest CAGR during the forecast period.
Global Industrial Hemp Market Share by Application, 2021 (%)
The Food & Beverage Sub-Segment is Anticipated to Hold a Prominent Share in the Global Industrial Hemp Market
The growing inclination of people toward a healthy lifestyle coupled with the commercialization of hemp for the food industry is projected to drive the demand for the global industrial hemp market. Along with being naturally gluten-free, GMO-free, trypsin inhibitor-free hemp is also highly nutritious and a rich source of amino acids that is serving the demand of health-conscious people. The recent commercialization of hemp for use in the food industry across the globe is supporting the growth of the segment. For instance, FSSAI issued a notification on 15th November 2021, stating that the hemp seed, hemp seed oil, and hemp seed flour shall be sold as food and can be used as an ingredient in a food for sale subject to conforming standards. Owing to these new regulations, food products containing hemp seeds and hemp seed oil are anticipated to enter the space and increase their availability across the food industry.
Regional Outlooks
The global industrial hemp market is further segmented based on geography including North America (the US, and Canada), Europe (Italy, Spain, Germany, France, and Others), Asia-Pacific (India, China, Japan, South Korea, and Others), and the Rest of the World (the Middle East &Africa, and Latin America). The market can be analyzed for a particular region or country level as per the requirement. Among these, the North American regional market is expected to cater to prominent growth over the forecast period; however, the Asia-Pacific region is anticipated to experience considerable growth in the industrial hemp market over the forecast period.
Global Industrial Hemp Market Growth, by Region 2022-2028
The North American Region Is Expected To Hold Prominent Share in the Global Industrial Hemp Market
The North American region is expected to hold a prominent share in the global industrial hemp market owing to increasing demand for hemp-based products and changing government policies in the region. For instance, in January 2021, The US Department of Agriculture (USDA) announced the final rule regulating the production of hemp in the United States. The final rule incorporates modifications to regulations established under the interim final rule (IFR) published in October 2019. Officially effective on March 22nd, American farmers now have final regulations for the production of industrial hemp in the US. Moreover, the presence of several application industries in this region including the food and personal care industry is further adding to the growth of the market.
Market Players Outlook
The major companies serving the global industrial hemp market include Aurora Cannabis Inc., Boring Hemp Co., Ecofibre Ltd., Hemp, Inc., HempFlax Group B.V., and others. The market players are considerably contributing to the market growth by the adoption of various strategies including mergers and acquisitions, partnerships, collaborations, funding, and new product launches, to stay competitive in the market. For instance, in august 2019, Aurora Cannabis Inc. announced the completion of the plan of arrangement with Hempco Food and Fiber Inc. under which Aurora has acquired all of the issued and outstanding common shares of Hempco. Hempco is now a wholly-owned subsidiary of Aurora.
The Report Covers
- Market value data analysis of 2021 and forecast to 2028.
- Annualized market revenues ($ million) for each market segment.
- Country-wise analysis of major geographical regions.
- Key companies operating in the global industrial hemp market. Based on the availability of data, information related to new product launches, and relevant news is also available in the report.
- Analysis of business strategies by identifying the key market segments positioned for strong growth in the future.
- Analysis of market-entry and market expansion strategies.
- Competitive strategies by identifying ‘who-stands-where’ in the market.
1.Report Summary
- Current Industry Analysis and Growth Potential Outlook
- Impact of COVID-19 on the Global Industrial Hemp Market
- Recovery Scenario of Global Industrial Hemp Market
1.1.Research Methods and Tools
1.2.Market Breakdown
1.2.1.By Segments
1.2.2.By Region
2.Market Overview and Insights
2.1.Scope of the Report
2.2.Analyst Insight & Current Market Trends
2.2.1.Key Findings
2.2.2.Recommendations
2.2.3.Conclusion
3.Competitive Landscape
3.1.Key Company Analysis
3.2.Aurora Cannabis Inc.
3.2.1.Overview
3.2.2.Financial Analysis
3.2.3.SWOT Analysis
3.2.4.Recent Developments
3.3.Boring Hemp Co.
3.3.1.Overview
3.3.2.Financial Analysis
3.3.3.SWOT Analysis
3.3.4.Recent Developments
3.4.Ecofibre Ltd.
3.4.1.Overview
3.4.2.Financial Analysis
3.4.3.SWOT Analysis
3.4.4.Recent Developments
3.5.Hemp, Inc.
3.5.1.Overview
3.5.2.Financial Analysis
3.5.3.SWOT Analysis
3.5.4.Recent Developments
3.6.HempFlax Group B.V.
3.6.1.Overview
3.6.2.Financial Analysis
3.6.3.SWOT Analysis
3.6.4.Recent Developments
3.7.Key Strategy Analysis
3.8.Impact of COVID-19 on Key Players
4.Market Segmentation
4.1.Global Industrial Hemp Market by Type
4.1.1.Hemp Seed
4.1.2.Hemp Seed Oil
4.1.3.Hemp Fiber
4.1.4.CBD Hemp Oil
4.2.Global Industrial Hemp Market by Source
4.2.1.Conventional
4.2.2.Organic
4.3.Global Industrial Hemp Market by Application
4.3.1.Food & Beverages
4.3.2.Personal Care
4.3.3.Textiles
4.3.4.Pharmaceuticals
4.3.5.Others (Animal Care, Construction Material)
5.Regional Analysis
5.1.North America
5.1.1.United States
5.1.2.Canada
5.2.Europe
5.2.1.UK
5.2.2.Germany
5.2.3.Italy
5.2.4.Spain
5.2.5.France
5.2.6.Rest of Europe
5.3.Asia-Pacific
5.3.1.China
5.3.2.India
5.3.3.Japan
5.3.4.South Korea
5.3.5.Rest of Asia-Pacific
5.4.Rest of the World
6.Company Profiles
6.1.Alphagreen Group Ltd.
6.2.American Cannabis Co.
6.3.AMERICAN HEMP LLC
6.4.BAFA Hempfoods GmbH
6.5.Blue Sky Hemp Ventures Ltd.
6.6.Canah International S.r.l.
6.7.Colorado Hemp Works, Inc.
6.8.Dun Agro Hemp Group
6.9.Fresh Hemp Foods Ltd.
6.10.Hemp Bombs
6.11.HEMPMEDS MEDICAMENTOS DO BRASIL LTDA
6.12.Hemp Oil Canada
6.13.HemPoland sp. z o.o.
6.14.Industrial Hemp Manufacturing, LLC
6.15.Marijuana Company of America, Inc.
6.16.MH medical hemp GmbH
6.17.North American Hemp & Grain Co. Ltd.
6.18.Konoplex LLC
6.19.Parkland Industrial Hemp Growers Co-op. Ltd.
6.20.SOUTH HEMP TECNO S.R.L.
6.21.Unrivaled Brands, Inc.
6.22.Valley Bio Ltd.
6.23.India Hemp & Co.
1.GLOBAL INDUSTRIAL HEMP MARKET RESEARCH AND ANALYSIS BY TYPE, 2021-2028 ($ MILLION)
2.GLOBAL HEMP SEED MARKET RESEARCH AND ANALYSIS BY REGION, 2021-2028 ($ MILLION)
3.GLOBAL HEMP SEED OIL MARKET RESEARCH AND ANALYSIS BY REGION, 2021-2028 ($ MILLION)
4.GLOBAL HEMP FIBER MARKET RESEARCH AND ANALYSIS BY REGION, 2021-2028 ($ MILLION)
5.GLOBAL CBD HEMP OIL MARKET RESEARCH AND ANALYSIS BY REGION, 2021-2028 ($ MILLION)
6.GLOBAL INDUSTRIAL HEMP MARKET RESEARCH AND ANALYSIS BY SOURCE, 2021-2028 ($ MILLION)
7.GLOBAL CONVENTIONAL INDUSTRIAL HEMP MARKET RESEARCH AND ANALYSIS BY REGION, 2021-2028 ($ MILLION)
8.GLOBAL ORGANIC INDUSTRIAL HEMP MARKET RESEARCH AND ANALYSIS BY REGION, 2021-2028 ($ MILLION)
9.GLOBAL INDUSTRIAL HEMP MARKET RESEARCH AND ANALYSIS BY APPLICATION, 2021-2028 ($ MILLION)
10.GLOBAL INDUSTRIAL HEMP FOR FOOD & BEVERAGES MARKET RESEARCH AND ANALYSIS BY REGION, 2021-2028 ($ MILLION)
11.GLOBAL INDUSTRIAL HEMP FOR PERSONAL CARE MARKET RESEARCH AND ANALYSIS BY REGION, 2021-2028 ($ MILLION)
12.GLOBAL INDUSTRIAL HEMP FOR TEXTILES MARKET RESEARCH AND ANALYSIS BY REGION, 2021-2028 ($ MILLION)
13.GLOBAL INDUSTRIAL HEMP FOR PHARMACEUTICALS MARKET RESEARCH AND ANALYSIS BY REGION, 2021-2028 ($ MILLION)
14.GLOBAL INDUSTRIAL HEMP FOR OTHERS MARKET RESEARCH AND ANALYSIS BY REGION, 2021-2028 ($ MILLION)
15.GLOBAL INDUSTRIAL HEMP MARKET RESEARCH AND ANALYSIS BY GEOGRAPHY, 2021-2028 ($ MILLION)
16.NORTH AMERICAN INDUSTRIAL HEMP MARKET RESEARCH AND ANALYSIS BY COUNTRY, 2021-2028 ($ MILLION)
17.NORTH AMERICAN INDUSTRIAL HEMP MARKET RESEARCH AND ANALYSIS BY TYPE, 2021-2028 ($ MILLION)
18.NORTH AMERICAN INDUSTRIAL HEMP MARKET RESEARCH AND ANALYSIS BY SOURCE, 2021-2028 ($ MILLION)
19.NORTH AMERICAN INDUSTRIAL HEMP MARKET RESEARCH AND ANALYSIS BY APPLICATION, 2021-2028 ($ MILLION)
20.EUROPEAN INDUSTRIAL HEMP MARKET RESEARCH AND ANALYSIS BY COUNTRY, 2021-2028 ($ MILLION)
21.EUROPEAN INDUSTRIAL HEMP MARKET RESEARCH AND ANALYSIS BY TYPE, 2021-2028 ($ MILLION)
22.EUROPEAN INDUSTRIAL HEMP MARKET RESEARCH AND ANALYSIS BY SOURCE, 2021-2028 ($ MILLION)
23.EUROPEAN INDUSTRIAL HEMP MARKET RESEARCH AND ANALYSIS BY APPLICATION, 2021-2028 ($ MILLION)
24.ASIA-PACIFIC INDUSTRIAL HEMP MARKET RESEARCH AND ANALYSIS BY COUNTRY, 2021-2028 ($ MILLION)
25.ASIA-PACIFIC INDUSTRIAL HEMP MARKET RESEARCH AND ANALYSIS BY TYPE, 2021-2028 ($ MILLION)
26.ASIA-PACIFIC INDUSTRIAL HEMP MARKET RESEARCH AND ANALYSIS BY SOURCE, 2021-2028 ($ MILLION)
27.ASIA-PACIFIC INDUSTRIAL HEMP MARKET RESEARCH AND ANALYSIS BY APPLICATION, 2021-2028 ($ MILLION)
28.REST OF THE WORLD INDUSTRIAL HEMP MARKET RESEARCH AND ANALYSIS BY COUNTRY, 2021-2028 ($ MILLION)
29.REST OF THE WORLD INDUSTRIAL HEMP MARKET RESEARCH AND ANALYSIS BY TYPE, 2021-2028 ($ MILLION)
30.REST OF THE WORLD INDUSTRIAL HEMP MARKET RESEARCH AND ANALYSIS BY SOURCE, 2021-2028 ($ MILLION)
31.REST OF THE WORLD INDUSTRIAL HEMP MARKET RESEARCH AND ANALYSIS BY APPLICATION, 2021-2028 ($ MILLION)
1.IMPACT OF COVID-19 ON GLOBAL INDUSTRIAL HEMP MARKET, 2021-2028 ($ MILLION)
2.IMPACT OF COVID-19 ON GLOBAL INDUSTRIAL HEMP MARKET BY SEGMENT, 2021-2028 ($ MILLION)
3.RECOVERY OF GLOBAL INDUSTRIAL HEMP MARKET, 2022-2028 (%)
4.GLOBAL INDUSTRIAL HEMP MARKET SHARE BY TYPE, 2021 VS 2028 (%)
5.GLOBAL HEMP SEED MARKET SHARE BY GEOGRAPHY, 2021 VS 2028 (%)
6.GLOBAL HEMP SEED OIL MARKET SHARE BY GEOGRAPHY, 2021 VS 2028 (%)
7.GLOBAL HEMP FIBER MARKET SHARE BY GEOGRAPHY, 2021 VS 2028 (%)
8.GLOBAL CBD HEMP OIL MARKET SHARE BY GEOGRAPHY, 2021 VS 2028 (%)
9.GLOBAL INDUSTRIAL HEMP MARKET SHARE BY SOURCE, 2021 VS 2028 (%)
10.GLOBAL CONVENTIONAL INDUSTRIAL HEMP MARKET SHARE BY GEOGRAPHY, 2021 VS 2028 (%)
11.GLOBAL ORGANIC INDUSTRIAL HEMP MARKET SHARE BY GEOGRAPHY, 2021 VS 2028 (%)
12.GLOBAL INDUSTRIAL HEMP MARKET SHARE BY APPLICATION, 2021 VS 2028 (%)
13.GLOBAL INDUSTRIAL HEMP FOR FOOD & BEVERAGES MARKET SHARE BY GEOGRAPHY, 2021 VS 2028 (%)
14.GLOBAL INDUSTRIAL HEMP FOR PERSONAL CARE MARKET SHARE BY GEOGRAPHY, 2021 VS 2028 (%)
15.GLOBAL INDUSTRIAL HEMP FOR TEXTILES MARKET SHARE BY GEOGRAPHY, 2021 VS 2028 (%)
16.GLOBAL INDUSTRIAL HEMP FOR PHARMACEUTICALS MARKET SHARE BY GEOGRAPHY, 2021 VS 2028 (%)
17.GLOBAL INDUSTRIAL HEMP FOR OTHERS MARKET SHARE BY GEOGRAPHY, 2021 VS 2028 (%)
18.GLOBAL INDUSTRIAL HEMP MARKET SHARE BY GEOGRAPHY, 2021 VS 2028 (%)
19.US INDUSTRIAL HEMP MARKET SIZE, 2021-2028 ($ MILLION)
20.CANADA INDUSTRIAL HEMP MARKET SIZE, 2021-2028 ($ MILLION)
21.UK INDUSTRIAL HEMP MARKET SIZE, 2021-2028 ($ MILLION)
22.FRANCE INDUSTRIAL HEMP MARKET SIZE, 2021-2028 ($ MILLION)
23.GERMANY INDUSTRIAL HEMP MARKET SIZE, 2021-2028 ($ MILLION)
24.ITALY INDUSTRIAL HEMP MARKET SIZE, 2021-2028 ($ MILLION)
25.SPAIN INDUSTRIAL HEMP MARKET SIZE, 2021-2028 ($ MILLION)
26.REST OF EUROPE INDUSTRIAL HEMP MARKET SIZE, 2021-2028 ($ MILLION)
27.INDIA INDUSTRIAL HEMP MARKET SIZE, 2021-2028 ($ MILLION)
28.CHINA INDUSTRIAL HEMP MARKET SIZE, 2021-2028 ($ MILLION)
29.JAPAN INDUSTRIAL HEMP MARKET SIZE, 2021-2028 ($ MILLION)
30.SOUTH KOREA INDUSTRIAL HEMP MARKET SIZE, 2021-2028 ($ MILLION)
31.REST OF ASIA-PACIFIC INDUSTRIAL HEMP MARKET SIZE, 2021-2028 ($ MILLION)
32.REST OF THE WORLD INDUSTRIAL HEMP MARKET SIZE, 2021-2028 ($ MILLION)
