Global Industrial Hemp Market Analysis, Drivers, Restraints, Opportunities, Threats, Trends, Applications, and Growth Forecast to 2026

MarketResearch.biz delivers in-depth insights on the global industrial hemp market in its upcoming report titled, “Global Industrial Hemp Market Trends, Applications, Analysis, Growth, and Forecast: 2017 to 2026”. The global industrial hemp market is estimated to register a CAGR of XX.X% in terms of value during forecast period 2017–2026. The report offers in-depth insights, revenue details, and other vital information regarding the target market, and the various trends, drivers, restraints, opportunities, and threats till 2026. The report offers insightful and detailed information regarding the various key players operating in the market, their financials, supply chain trends, technological innovations, key developments, apart from future strategies, acquisitions & mergers, and market footprint. The global industrial hemp market report has been segmented on the basis of product, application, and region.

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This report is based on synthesis, analysis, and interpretation of information gathered regarding the target market from various sources. Our analysts have analyzed the information and data and gained insights using a mix of primary and secondary research efforts with the primary objective to provide a holistic view of the market. In addition, an in-house study has been made of the global economic conditions and other economic indicators and factors to assess their respective impact on the market historically, as well as the current impact in order to make informed forecasts about the scenarios in future.

Hemp is type of cannabis sativa plant species grown especially for industrial use. Industrial hemp has tetrahydrocannabinol (THC) content less than 0.3%. Hemp can be grown as seed, fiber, or as a dual-purpose crop.

Increasing demand for hemp-based products such as dairy alternatives, cooking oil, etc. across the globe is a key factor driving growth of the global industrial hemp market. In addition, increasing awareness among consumers regarding benefits of recreational hemp products is another factor further propelling growth of the global market. Moreover, regulators such as Agricultural Act of 2014, Industrial Hemp Act 2017, U.S. Drug Enforcement Agency (DEA), etc. have regulated the limit for allowed tetrahydrocannabinol (THC) content in processing, cultivation, distribution, and consumption of hemp products. This factor is expected to further drive growth of the global market to a significant extent over the forecast period.

However, stringent government regulation over hemp cultivation across the globe, owing to its illegal use and consumption is a key factor restraining growth of the global industrial hemp market. In addition, lack of standard harvesting and cultivation techniques is another factor hampering growth of the global market. However, legalization of hemp cultivation in some countries and increasing R&D activities are factors expected to create lucrative business opportunities for major manufacturers and suppliers in the global market over the next 10 years.

The North America market accounts for significant share in the global industrial hemp market in terms of revenue. Increasing demand for hemp seed and hemp fiber based products and growing geriatric population are major factors driving growth of the North America industrial hemp market. The Europe Market accounts for considerable share in terms of revenue in the global market. The Europe industrial hemp market is expected to witness significant growth and is expected to register a CAGR of X.X% over the forecast period. The Asia Pacific industrial hemp market is expected to witness highest growth in the global market and is projected to register a CAGR of XX.X% over the next 10 years. Presence of major suppliers and increasing use of hemp fiber in manufacturing of biodegradable textiles are major factors driving growth of the Asia Pacific industrial hemp market.

Global industrial hemp market segmentation:

Segmentation on the basis of product:

• Seeds
• Fiber
• Shivs

Segmentation on the basis of application:

• Animal Care
• Textiles
• Automotive
• Furniture
• Food & Beverages
• Paper
• Construction Materials
• Personal Care
• Others

Segmentation on the basis of region:

• North America
• Europe
• Asia Pacific
• Latin America
• Middle East & Africa