Dublin, Nov 09, 2021 (GLOBE NEWSWIRE) – The “Industrial Hemp Market Analysis Report on Size, Share and Trends by Product (Seeds, Fiber, Shives), by Application (Textiles, Personal Care, Food and Beverage, Pet Care), by Region and Segment Forecasts, 2021-2028 “report was added ResearchAndMarkets.com to offer.
The global industrial hemp market is forecast to reach USD 12.01 billion by 2028 and grow at a CAGR of 16.2% from 2021 to 2028
The increasing use of hemp oil in food and beverages is expected to increase demand for hemp over the forecast period due to its dietary benefits.
It is expected that population growth coupled with rising per capita disposable income will lead to increased demand for high quality cosmetics, personal care products, protein supplements and other health products. These factors are likely to drive the market over the forecast period.
Industrial hemp cultivation, harvesting and processing are associated with increasing research and development activities to develop new genetic improvements, perfect agronomy, improved technologies for high yield and high quality products. In addition, investments in research and development to improve cancer treatment performance have offered growth prospects for the hemp industry.
Industrial hemp is an agricultural commodity and is heavily dependent on climatic conditions, regulatory tolerance and the availability of labor. Countries like China, the world’s leading hemp producer, have never restricted hemp production and have the advantage of cheap labor. However, the oversupply is likely to cause great concern for manufacturers in the forecast period.
Industrial Hemp Market Report Highlights
- In terms of the product, seeds had the largest volume share in 2020 with over 40.0% due to the increasing demand for hemp grain for the extraction of seeds, oil and nutritional components for the food and nutraceutical market due to the high fatty acid content and nutritional value
- Due to the strong, hypoallergenic and UV light-resistant properties of the hemp fibers, the textile segment held the largest share of sales in 2020
- The Personal Care application segment had the second largest share of sales in 2020 due to the high consumption of hemp oil in body and body care products, including soap, shampoo, body lotions and hair care products.
- The North American market is expected to see the fastest volume-based CAGR of 21.2% over the forecast period due to the growing demand for hemp in the automotive industry for making panels and as an alternative to fiberglass
- Major players in the industry are focusing on research and development activities to develop new varieties of the useful plant, full use of the hemp plant, processing methods and processing technologies to gain larger market share
Key topics covered:
Chapter 1. Methodology and scope
1.1. Research methodology
1.2. Research scope and assumptions
1.3. List of data sources
Chapter 2. Summary
2.1. Market snapshot
Chapter 3. Market Variables, Trends, and Scope of Industrial Hemp
3.1. Industrial Hemp – Market Segmentation
3.2. Industrial hemp – analysis of the value chain
3.3. production method
3.4. Legal framework
3.5. Industrial Hemp – Market Dynamics
3.5.1. Market driver analysis
184.108.40.206. Increasing demand in application sectors
220.127.116.11. Agricultural and environmental benefits associated with growing hemp
3.5.2. Analysis of market reluctance
18.104.22.168. Strict government regulations
3.6. Industrial Hemp Market – Porter’s
3.7. Industrial hemp market – PESTEL analysis
Chapter 4. Industrial Hemp Market: Product Estimates and Trending Analysis
4.1. Market: Product Movement Analysis, 2020 & 2028
Chapter 5. Industrial Hemp Market: Application Estimates and Trending Analysis
5.1. Market: Application Motion Analysis, 2020 & 2028
5.2. Animal that
5.6. food and drinks
5.8. construction materials
5.9. personal hygiene
Chapter 6. Industrial Hemp Market: Regional Estimates and Trend Analysis
6.1. Market: Regional Movement Analysis, 2020 & 2028
Chapter 7. Competitive Landscape
7.1. Competitive landscape
7.2. Provider landscape
7.3. Competitive environment
7.4. Competitive market positioning
7.5. Categorization of market participation
7.6. Heat map analysis
Chapter 8. Company Profiles
8.1. Company overview
8.2. Financial performance
8.3. Product benchmarking
8.4. Strategic Initiatives
- Parkland Industrial Hemp Growers Cooperative Ltd. (PIHG)
- CBD Biotechnology Co., Ltd.
- Botanical Genetics, LLC
- Marijuana Company of America Inc.
- HempMeds Brazil
- Terra Tech Corp.
- American Cannabis Company, Inc.
- HanfFlax BV
- Industrial Hemp Manufacturing, LLC
- American hemp
- Hemp, Inc.
- Boring hemp company
- Plains Industrial Hemp Processing Ltd.
- Eco fiber
- Valley Bio Limited
Please visit https://www.researchandmarkets.com/r/w57th9 for more information on this report