Industrial Hemp Market Worth $ 27.72 Billion, Globally, by 2028 at 25.17% CAGR: Verified Market Research™

Rising awareness among the consumers about the benefits of industrial hemp, increasing legalization to cultivate industrial hemp in many countries, and rising application of industrial hemp in diverse industries such as textile, pharmaceutical, food, beverage, personal care, construction & material, furniture, and paper is expected to drive the market for industrial hemp

Jersey City, New Jersey, March 08, 2021 (GLOBE NEWSWIRE) -- Verified Market Research recently published a report, “Industrial Hemp Market” By Type (Hemp Seed, Hemp Seed Oil, Hemp Fiber, and CBD Hemp Oil), Application (Food, Beverages, Personal Care Products, Textiles, and Pharmaceuticals), By Sources (Organic and Conventional), and By Geography. According to Verified Market Research, the Global Industrial Hemp Market was valued at USD 5.66 Billion in 2020 and is projected to reach USD 27.72 Billion by 2028, growing at a CAGR of 25.17% from 2021 to 2028.

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126 – Tables

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Global Industrial Hemp Market Overview

Increasing application usage in personal care, food & beverage, textile, and bio composite industries is projected to drive industrial hemp market size. The rise in hemp oil demand on account of high essential fatty acids content which prevents and alleviates ailments is the factor contributing to industry growth from the food & beverage sector. Industrial Hemp is an extremely renewable resource. Once harvested, the crop has a high yield of edible proteins and fibers with more than 50,000 product applications. The demand for Industrial Hemp products is increasing by the day, owing to the increasing awareness towards health among the consumers. The growing shift of consumers towards natural products is a significant driver for the Industrial Hemp global market. Industrial Hemp has a large number of end uses like papermaking, textiles, biodegradable plastics, fuel, construction, and healthy food.

The major players in the market are Hempco, Ecofibre, Hemp Inc., GenCanna, HempFlax BV, Konoplex Group, Hemp Oil Canada, BAFA, Hemp Poland, and Dun Agro.

Verified Market Research has segmented the Global Industrial Hemp Market On the basis of Type, Application, Sources, and Geography.

  • Industrial Hemp Market by Type
    • Hemp Seed
    • Hemp Seed Oil
    • Hemp Fiber
    •  CBD Hemp Oil
  • Industrial Hemp Market by Application
    • Food, Beverages
    • Personal Care Products
    • Textiles
    •  Pharmaceuticals
  • Industrial Hemp Market by Application
    • Organic
    • Conventional
  • Industrial Hemp Market by Geography
    • North America
      • U.S
      • Canada
      • Mexico
    • Europe
      • Germany
      • France
      • U.K
      • Rest of Europe
    • Asia Pacific
      • China
      • Japan
      • India
      • Rest of Asia Pacific
    • ROW
      • Middle East & Africa
      • Latin America

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