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Industrial Hemp Market, Global Forecast 2023-2028, Industry Trends, Growth, Impact of Inflation, Opportunity Company Analysis

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    Report

  • 120 Pages
  • January 2023
  • Region: Global
  • Renub Research
  • ID: 5715850

Global Industrial Hemp Market will grow to US$ 15.01 Billion in 2028

Global Industrial Hemp Market will grow to US$ 15.01 Billion in 2028, according to the publisher. The hemp industry worldwide is booming, with a new crop of entrepreneurs ready to battle the odds and bet big on the versatile plant by creating innovative products that fit right into the wellness zeitgeist. Industrial hemp is a versatile plant that can be built up for its fiber, seed, or oil. Over time, industrial hemp has evolved into an even greater variety of products, including health foods, organic body care, clothing, construction materials, biofuels, plastic composites, and more.

Furthermore, The U.S. Department of Agriculture created a regulatory framework around hemp production throughout the United States. Also, In the U.K., the Department for Environment, Food, and Rural Affairs treat hemp as a purely non-food crop. Still, with proper licensing and proof of less than 0.3% THC concentration, hemp seeds can be imported for sowing or sale as a food or food ingredient.

Worldwide Industrial Hemp Market to Grow with a CAGR of 21.22%, from 2022 to 2028

The increasing demand by the pharmaceutical and textile industry and rising consumer awareness about product benefits significantly drive the primary factors. Besides this, the growing consumption of hemp-based products on health benefits and the escalating incidences of epilepsy and other sleep disorders is anticipated, and the long-term profitability of industrial hemp is a real hindrance for potential growers.

Growing Awareness of Several Nutritional Benefits of Hemp Seeds is primarily driving the Global Market

Based on the Product, Global Industrial Hemp Market was categorized into four types: Seeds, Stalks, Fibers, and Others. Seeds will capture the most significant market during the forecast period due to the high demand for seeds in the food and beverage industry commercial industries.

Furthermore, Hemp fibers are mainly used in paper, carpeting, home furnishing, construction materials, and auto parts and composites. In Europe, Hemp Fibers are used for manufacturing car parts, textiles, and construction materials. China has always been the leading industrial hemp producer, primarily for its fiber. In European countries, France is one of the big producers of Industrial Hemp. However, Canada and the United States of America are becoming large producers with a growing influence on international markets. Overall, about 40 other countries currently produce significant quantities of industrial hemp.

Rise of Eco-Friendly Shoppers: Fuelling Textiles Hemp Demand

Based on application, the market is classified into Textiles, Personal Care, Food & Beverages, Animal Care, Paper, Automotive, Construction Materials, Furniture, and Others. The textile application segment will lead the market share in 2022 because the textile industry deals with hemp plant cultivation for fiber production.

Hemp is a fast-growing plant with the ability to sequester an average of zero-point-six-seven tons of carbon dioxide per hectare every year from the atmosphere. This sustainably means that it turned into consistent, durable material, and hemp can store carbon for its lifetime, thus reducing carbon in the atmosphere. Therefore, it could impact global carbon reduction goals negatively if used to substitute more carbon-intensive materials and products.

However, the abuse of the hemp plant as a drug was one of the most significant factors that caused the textile industry to turn away from hemp, but it was not the only reason. Therefore, cotton fiber processing technologies also drove the market's growth in the same period.

Currently, in North America, the grain industry is driving the development of the Hemp Crop

Based on region, the market is classified into North America, Europe, Asia Pacific, and the Rest of the World. The Asia Pacific holds the largest market share due to easy access to raw materials and the rising global demand for hemp from Asia.

Industrial hemp production has remained legal throughout most of the world. Approximately 30 countries in Europe, Asia, and North and South America allow farmers to grow hemp. The world hemp fiber market continues to be dominated by China. Other notable countries include France, Germany, the U.K., Chile, and the Democratic People's Republic of Korea.

Countries are actively involved in producing and consuming industrial hemp and its products, such as producing and consuming easing global product demand and advancing technologies and innovation, making harvesting easier for cultivation. In addition, increasing consumption of hemp-based food products and supplements in developing economies with a growing geriatric population is expected to drive the regional market over the upcoming year.

Key Players Analysis

Some key companies are Marijuana Company of America Inc, American Cannabis Company, Inc, Ecofibre Limited, Aurora Cannabis, Agropur, and Darling Ingredients Inc.

In January 2022, Hemp Inc. launched cannabidiol acid (CBDA) and cannabigerol acid (CBGA) products in response to new COVID study findings. These products will come in various potencies, flavors, and formulae.

In February 2021, Hem Poland launched CannabiGold Sport, a range of CBD pre- and post-workout supplements made from hemp for professional and recreational athletes.

The report titled “Global Industrial Hemp Market & Forecast, By Product (Seeds, Stalks, Fibers, and Others), by Application (Textiles, Personal Care, Food & Beverages, Animal Care, Paper, Automotive, Construction Materials, Furniture, and Others), by Region (North America, Europe, Asia Pacific, and the Rest of the World) Companies (Marijuana Company of America Inc, American Cannabis Company, Inc, Ecofibre Limited, Aurora cannabis, Agropur and Darling ingredients Inc.)” provides a complete analysis of Worldwide Industrial Hemp Industry.

By Products - Global Industrial Hemp Market will divided into four types:

1. Seeds
2. Stalks
3. Fibres
4. Others

By Application - Global Industrial Hemp Market will divided into nine types:

1. Textiles
2. Personal Care
3. Food & Beverages
4. Animal Care
5. Paper
6. Automotive
7. Construction Materials
8. Furniture
9. Others

By Regions - Global Industrial Hemp Market will divided into four types:

1. North America
2. Europe
3. Asia Pacific
4. Rest of the World

Company Analysis

1. Marijuana Company of America Inc.
2. American Cannabis Company, Inc.
3. Ecofibre Limited
4. Aurora cannabis
5. Agropur
6. Darling ingredients Inc.
Frequently Asked Questions about the Industrial Hemp Market

What is the estimated value of the Industrial Hemp Market?

The Industrial Hemp Market was estimated to be valued at $4.73 Billion in 2022.

What is the growth rate of the Industrial Hemp Market?

The growth rate of the Industrial Hemp Market is 21.2%, with an estimated value of $15.01 Billion by 2028.

What is the forecasted size of the Industrial Hemp Market?

The Industrial Hemp Market is estimated to be worth $15.01 Billion by 2028.

Who are the key companies in the Industrial Hemp Market?

Key companies in the Industrial Hemp Market include Marijuana Company of America Inc., American Cannabis Company, Inc., Ecofibre Limited, Aurora cannabis and Darling ingredients Inc..

Table of Contents

1. Introduction

2. Research & Methodology

3. Executive Summary

4. Market Dynamics
4.1 Growth Driver
4.2 Challenges

5. Global Industrial Hemp Market

6. Market Share - Global Industrial Hemp Analysis
6.1 By Products
6.2 By Application
6.3 By Regions

7. Products - Global Industrial Hemp Market
7.1 Seeds
7.2 Stalks
7.3 Fibers
7.4 Others

8. Application - Global Industrial Hemp Market
8.1 Textiles
8.2 Personal Care
8.3 Food & Beverages
8.4 Animal Care
8.5 Paper
8.6 Automotive
8.7 Construction Materials
8.8 Furniture
8.9 Others

9. Regions - Global Industrial Hemp Market
9.1 North America
9.2 Europe
9.3 Asia Pacific
9.4 Rest of the World

10. Merger & Acquisitions

11. Company Analysis
11.1 Marijuana Company of America Inc
11.1.1 Overview
11.1.2 Recent Development
11.1.3 Revenue
11.2 American Cannabis Company, Inc
11.2.1 Overview
11.2.2 Recent Development
11.2.3 Revenue
11.3 Ecofibre Limited
11.3.1 Overview
11.3.2 Recent Development
11.3.3 Revenue
11.4 Aurora cannabis
11.4.1 Overview
11.4.2 Recent Development
11.4.3 Revenue
11.5 Agropur
11.5.1 Overview
11.5.2 Recent Development
11.5.3 Revenue
11.6 Darling ingredients inc
11.6.1 Overview
11.6.2 Recent Development
11.6.3 Revenue

List of Figures:
Figure 01: Global - Industrial Hemp Market (Billion US$), 2018 - 2022
Figure 02: Global - Forecast for Industrial Hemp Market (Billion US$), 2023 - 2028
Figure 03: Products - Seeds Industrial Hemp Market (Million US$), 2018 - 2022
Figure 04: Products - Forecast for Seeds Industrial Hemp Market (Million US$), 2023 - 2028
Figure 05: Products - Stalks Industrial Hemp Market (Million US$), 2018 - 2022
Figure 06: Products - Forecast for Stalks Industrial Hemp Market (Million US$), 2023 - 2028
Figure 07: Products - Fibers Industrial Hemp Market (Million US$), 2018 - 2022
Figure 08: Products - Forecast for Fibers Industrial Hemp Market (Million US$), 2023 - 2028
Figure 09: Products - Others Industrial Hemp Market (Million US$), 2018 - 2022
Figure 10: Products - Forecast for Others Industrial Hemp Market (Million US$), 2023 - 2028
Figure 11: Application - Textiles Industrial Hemp Market (Million US$), 2018 - 2022
Figure 12: Application - Forecast for Textiles Industrial Hemp Market (Million US$), 2023 - 2028
Figure 13: Application - Personal Care Industrial Hemp Market (Million US$), 2018 - 2022
Figure 14: Application - Forecast for Personal Care Industrial Hemp Market (Million US$), 2023 - 2028
Figure 15: Application - Food & Beverages Industrial Hemp Market (Million US$), 2018 - 2022
Figure 16: Application - Forecast for Food & Beverages Industrial Hemp Market (Million US$), 2023 - 2028
Figure 17: Application - Animal Care Industrial Hemp Market (Million US$), 2018 - 2022
Figure 18: Application - Forecast for Animal Care Industrial Hemp Market (Million US$), 2023 - 2028
Figure 19: Application - Paper Industrial Hemp Market (Million US$), 2018 - 2022
Figure 20: Application - Forecast for Paper Industrial Hemp Market (Million US$), 2023 - 2028
Figure 21: Application - Automotive Industrial Hemp Market (Million US$), 2018 - 2022
Figure 22: Application - Forecast for Automotive Industrial Hemp Market (Million US$), 2023 - 2028
Figure 23: Application - Construction Materials Industrial Hemp Market (Million US$), 2018 - 2022
Figure 24: Application - Forecast for Construction Materials Industrial Hemp Market (Million US$), 2023 - 2028
Figure 25: Application - Furniture Industrial Hemp Market (Million US$), 2018 - 2022
Figure 26: Application - Forecast for Furniture Industrial Hemp Market (Million US$), 2023 - 2028
Figure 27: Application - Others Industrial Hemp Market (Million US$), 2018 - 2022
Figure 28: Application - Forecast for Others Industrial Hemp Market (Million US$), 2023 - 2028
Figure 29: North America - Industrial Hemp Market (Million US$), 2018 - 2022
Figure 30: North America - Forecast for Industrial Hemp Market (Million US$), 2023 - 2028
Figure 31: Europe - Industrial Hemp Market (Million US$), 2018 - 2022
Figure 32: Europe - Forecast for Industrial Hemp Market (Million US$), 2023 - 2028
Figure 33: Asia Pacific - Industrial Hemp Market (Million US$), 2018 - 2022
Figure 34: Asia Pacific - Forecast for Industrial Hemp Market (Million US$), 2023 - 2028
Figure 35: Rest of the World - Industrial Hemp Market (Million US$), 2018 - 2022
Figure 36: Rest of the World - Forecast for Industrial Hemp Market (Million US$), 2023 - 2028
Figure 37: Marijuana Company of America Inc - Global Revenue (Million US$), 2018 - 2022
Figure 38: Marijuana Company of America Inc - Forecast for Global Revenue (Million US$), 2023 - 2028
Figure 39: American Cannabis Company, Inc - Global Revenue (Million US$), 2018 - 2022
Figure 40: American Cannabis Company, Inc - Forecast for Global Revenue (Million US$), 2023 - 2028
Figure 41: Ecofibre Limited - Global Revenue (Million US$), 2018 - 2022
Figure 42: Ecofibre Limited - Forecast for Global Revenue (Million US$), 2023 - 2028
Figure 43: Aurora cannabis - Global Revenue (Million US$), 2018 - 2022
Figure 44: Aurora cannabis - Forecast for Global Revenue (Million US$), 2023 - 2028
Figure 45: Agropur - Global Revenue (Million US$), 2018 - 2022
Figure 46: Agropur - Forecast for Global Revenue (Million US$), 2023 - 2028
Figure 47: Darling ingredients inc - Global Revenue (Million US$), 2018 - 2022
Figure 48: Darling ingredients inc - Forecast for Global Revenue (Million US$), 2023 - 2028

List of Tables:
Table 01: Global - Industrial Hemp Market Share by Product (Percent), 2018 - 2022
Table 02: Global - Forecast for Industrial Hemp Market Share by Product (Percent), 2023 - 2028
Table 03: Global - Industrial Hemp Market Share by Application (Percent), 2018 - 2022
Table 04: Global - Forecast for Industrial Hemp Market Share by Application (Percent), 2023 - 2028
Table 05: Global - Industrial Hemp Market Share by Region (Percent), 2018 - 2022
Table 06: Global - Forecast for Industrial Hemp Market Share by Region (Percent), 2023 - 2028

Companies Mentioned

  • Marijuana Company of America Inc.
  • American Cannabis Company, Inc.
  • Ecofibre Limited
  • Aurora cannabis
  • Agropur
  • Darling ingredients Inc.

Methodology

In this report, for analyzing the future trends for the studied market during the forecast period, the publisher has incorporated rigorous statistical and econometric methods, further scrutinized by secondary, primary sources and by in-house experts, supported through their extensive data intelligence repository. The market is studied holistically from both demand and supply-side perspectives. This is carried out to analyze both end-user and producer behavior patterns, in the review period, which affects price, demand and consumption trends. As the study demands to analyze the long-term nature of the market, the identification of factors influencing the market is based on the fundamentality of the study market.

Through secondary and primary researches, which largely include interviews with industry participants, reliable statistics, and regional intelligence, are identified and are transformed to quantitative data through data extraction, and further applied for inferential purposes. The publisher's in-house industry experts play an instrumental role in designing analytic tools and models, tailored to the requirements of a particular industry segment. These analytical tools and models sanitize the data & statistics and enhance the accuracy of their recommendations and advice.

Primary Research

The primary purpose of this phase is to extract qualitative information regarding the market from the key industry leaders. The primary research efforts include reaching out to participants through mail, tele-conversations, referrals, professional networks, and face-to-face interactions. The publisher also established professional corporate relations with various companies that allow us greater flexibility for reaching out to industry participants and commentators for interviews and discussions, fulfilling the following functions:

  • Validates and improves the data quality and strengthens research proceeds
  • Further develop the analyst team’s market understanding and expertise
  • Supplies authentic information about market size, share, growth, and forecast

The researcher's primary research interview and discussion panels are typically composed of the most experienced industry members. These participants include, however, are not limited to:

  • Chief executives and VPs of leading corporations specific to the industry
  • Product and sales managers or country heads; channel partners and top level distributors; banking, investment, and valuation experts
  • Key opinion leaders (KOLs)

Secondary Research

The publisher refers to a broad array of industry sources for their secondary research, which typically includes, however, is not limited to:

  • Company SEC filings, annual reports, company websites, broker & financial reports, and investor presentations for competitive scenario and shape of the industry
  • Patent and regulatory databases for understanding of technical & legal developments
  • Scientific and technical writings for product information and related preemptions
  • Regional government and statistical databases for macro analysis
  • Authentic new articles, webcasts, and other related releases for market evaluation
  • Internal and external proprietary databases, key market indicators, and relevant press releases for market estimates and forecasts
 

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