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Industrial Hemp Market - Growth, Trends, and Forecast (2020-2025)

  • ID: 5012365
  • Report
  • March 2020
  • Region: Global
  • 120 pages
  • Mordor Intelligence
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until Jun 30th 2020
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FEATURED COMPANIES

  • American Hemp
  • Boring Hemp Company
  • ECOFIBRE
  • Global Hemp Group Inc.
  • Hempco Inc.
  • HempMeds Brasil
  • MORE
The market for Industrial Hemp is expected to grow at a CAGR of over 16% during the forecast period. Major factors driving the market studied are growing demand for hemp oil and fibers in various end-user industries and increasing awareness of health-related concerns. On the flip side, strict government regulations imposed by various countries on hemp cultivation due to its illegal use and consumption is hindering the growth of the market.

The legalization of the cultivation of industrial hemp in various countries is expected to offer lucrative opportunities for the growth of the market.

By application, the food & beverage segment is expected to dominate the market owing to the increasing demand of hemp-based dairy alternatives and cooking oil.

North America region is expected to grow at the fastest rate across the globe with the largest consumption from countries such as the United States, and Canada.

Key Market Trends

Increasing Demand from Food & Beverage Segment
  • Industrial hemp is obtained from the strain of cannabis sativa plant species which is grown specifically owing to the various uses of hemp-based products.
  • Hemp seeds are used in baking or can be used to make beverages like hemp milk. Hemp seeds can also be eaten raw and are high in protein content owing to which they are used in animal feed and bird seeds.
  • Hemp seeds are pressed to produce hemp oil which is high in unsaturated fatty acids. The leaves of hemp can be consumed directly as salads or can be pressed to make juice.
  • Hemp seeds and oil are rich in essential fatty acid, proteins, and vitamin E, as well as in minerals such as sodium, calcium, phosphorus, and potassium owing to which they are used in ready to drink beverages, energy drinks, snacks & cereals, soups, sauces, and bakery products.
  • Owing to all the above-mentioned factors, the demand for industrial hemp from food & beverage segment is expected to grow rapidly over the forecast period.
North America Region to Grow at the Fastest Rate
  • North America region is expected to grow at the fastest rate over the forecast period. In countries like Canada and the United States due to the growing geriatric population and increased consumer awareness, the demand for industrial hemp has been increasing in the region.
  • The growing concerns of skin diseases and an increasing number of chronic diseases are expected to increase the demand for industrial hemp.
  • Automotive production in United States witnessed slight downfall in 2019. The overall production reached a total of 10,880,019 vehicles with production falling by about 3.7% Y-o-Y over 2018.
  • Similarly, in Canada also, automotive production witnessed the downfall of about 5.4% in 2019 and reached a total of 1,916,585 vehicles. Over the forecast period, automobile production in both the United States and Canada is expected to recover considerably.
  • Some of the major companies operating in North America region are – Industrial Hemp Manufacturing, LLC and Plain Industrial Hemp Processing Ltd.
  • The aforementioned factors, coupled with government support, are contributing to the increasing demand for industrial hemp during the forecast period.
Competitive Landscape

The Industrial Hemp market is highly fragmented with players accounting for a marginal share of the market. Few key companies in the market include HempFlax Group B.V., Plains Industrial Hemp Processing Ltd., Bombay Hemp Company, Manitoba Harvest Hemp Foods and Hemp Inc.

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  • The market estimate (ME) sheet in Excel format
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FEATURED COMPANIES

  • American Hemp
  • Boring Hemp Company
  • ECOFIBRE
  • Global Hemp Group Inc.
  • Hempco Inc.
  • HempMeds Brasil
  • MORE
1 INTRODUCTION
1.1 Study Assumptions
1.2 Scope of the Study

2 RESEARCH METHODOLOGY

3 EXECUTIVE SUMMARY

4 MARKET DYNAMICS
4.1 Drivers
4.1.1 Growing Demand of Hemp Oil and Fibres in Various Sectors
4.1.2 Increasing Awareness of Health Related Concerns
4.2 Restraints
4.2.1 Strict Government Regulations
4.2.2 Other Restraints
4.3 Industry Value Chain Analysis
4.4 Porters Five Forces Analysis
4.4.1 Bargaining Power of Suppliers
4.4.2 Bargaining Power of Consumers
4.4.3 Threat of New Entrants
4.4.4 Threat of Substitute Products and Services
4.4.5 Degree of Competition

5 MARKET SEGMENTATION
5.1 Source
5.1.1 Conventional
5.1.2 Organic
5.2 Type
5.2.1 Hemp Seed
5.2.2 Hemp Seed Oil
5.2.3 Cannabidiol (CBD) Hemp Oil
5.2.4 Hemp Fiber
5.3 Application
5.3.1 Animal Care
5.3.2 Food & Beverages
5.3.3 Textile
5.3.4 Automotive
5.3.5 Furniture
5.3.6 Personal Care
5.3.7 Construction Material
5.3.8 Others
5.4 Geography
5.4.1 Asia-Pacific
5.4.1.1 China
5.4.1.2 India
5.4.1.3 Japan
5.4.1.4 Australia
5.4.1.5 Rest of Asia-Pacific
5.4.2 North America
5.4.2.1 United States
5.4.2.2 Canada
5.4.2.3 Mexico
5.4.3 Europe
5.4.3.1 Germany
5.4.3.2 United Kingdom
5.4.3.3 Italy
5.4.3.4 France
5.4.3.5 Rest of Europe
5.4.4 South America
5.4.4.1 Brazil
5.4.4.2 Argentina
5.4.4.3 Rest of South America
5.4.5 Middle-East and Africa
5.4.5.1 Saudi Arabia
5.4.5.2 South Africa
5.4.5.3 Rest of Middle-East and Africa

6 COMPETITIVE LANDSCAPE
6.1 Mergers & Acquisitions, Joint Ventures, Collaborations, and Agreements
6.2 Market Share Analysis**
6.3 Strategies Adopted by Leading Players
6.4 Company Profiles
6.4.1 American Hemp
6.4.2 Bombay Hemp Company
6.4.3 Boring Hemp Company
6.4.4 Dun Agro Hemp Group
6.4.5 ECOFIBRE
6.4.6 GenCanna
6.4.7 Global Hemp Group Inc.
6.4.8 Hempco Inc.
6.4.9 HempFlax Group B.V
6.4.10 Hemp Inc
6.4.11 HempMeds Brasil
6.4.12 Manitoba Harvest Hemp Foods
6.4.13 Marijuana Company of America, Inc.
6.4.14 North American Hemp & Grain Co. Ltd
6.4.15 Plains Industrial Hemp Processing Ltd.
6.4.16 Valley Bio Limited

7 MARKET OPPORTUNITIES AND FUTURE TRENDS
7.1 Legalization of Cultivation of Industrial Hemp in Various Countries
7.2 Other Opportunities
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  • American Hemp
  • Bombay Hemp Company
  • Boring Hemp Company
  • Dun Agro Hemp Group
  • ECOFIBRE
  • GenCanna
  • Global Hemp Group Inc.
  • Hempco Inc.
  • HempFlax Group B.V
  • Hemp Inc
  • HempMeds Brasil
  • Manitoba Harvest Hemp Foods
  • Marijuana Company of America, Inc.
  • North American Hemp & Grain Co. Ltd
  • Plains Industrial Hemp Processing Ltd.
  • Valley Bio Limited
Note: Product cover images may vary from those shown
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