Industrial Hemp Market Segmented By Product (Fiber, Seed, Shives), By Application (Textiles, Animal Care, Personal Care, Food and Beverages), and By Region (North America, Latin America, Europe, Asia Pacific, Middle East and Africa, and Rest of the world) – Key Insights on market size, share, growth, demand, and forecast report 2021-2026
Industrial Hemp Market Size Growth Analysis 2021:
Industrial Hemp Market size valued at USD 4.7 billion in 2021, and it is expected to reach USD 26.8 billion by the end of 2026, with growth at a CAGR of 35% over the forecast period 2021-2026. North American industrial hemp market was the industry leader in the global industrial hemp market in the year 2018 & 2019 and expected to be constant in the top place from the year 2020 – 2025. Asia Pacific industrial hemp market described as the highest share in the year 2018. And European industrial hemp market is expected to develop at the largest CAGR. The industrial hemp market in Europe region reported a revenue share of 22.5% in 2019 on account of its practice in construction materials, automotive parts, fabrics, and textiles in the form of fibers. Canada Industrial Hemp Market is following the U.S, in leading the noteworthy shares of the industrial hemp market. 25% of the holding was industrial hemp in Canada.
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Industrial Hemp Market Growth Analysis:
Growing awareness amongst the customers about the aids of industrial hemp, growing legalization to cultivate industrial hemp in several countries, and increasing application of industrial hemp in varied industries such as pharmaceutical, textile, food and beverage, construction and material, personal care, paper, and furniture is projected to push the industrial hemp market growth.
Industrial Hemp Market growth is accredited to the improved consumption of hemp-related foods due to their several health usages and augmented occurrences of illnesses such as epilepsy and other sleep disorders.
Industrial Hemp Market Regional and Country Analysis:
Asia Pacific industrial hemp market described as the highest share in the year 2018. This domination is accredited to the wide consumption and production of hemp fiber in the paper and textile market. Additionally, the thriving market for personal care products and cosmetics in the Asia Pacific region and authorization of industrial hemp in food enhancements is projected to push the industrial hemp market growth.
The Europe industrial hemp market is predictable to show at the highest Compound Annual Growth Rate, due to a surge in having of hemp seeds as food also as their total application in other food products such as name, yogurt, smoothies, bars, and cereals, particularly in countries such as the Netherlands and then Germany. Furthermore, the increase in cognizance amongst consumers about the nutritional sake of consuming hemp is more projected to boost the demand for hemp-related food products and personal care products. Besides, rising industrial hemp legalization in the European region in the next few years is projected to rule the industrial hemp market.
North American industrial hemp market was the industry leader in the global industrial hemp market in the year 2018 & 2019 and expected to be constant in the top place from the year 2020 – 2025.
North America leads with the major shares of the global market between all the remaining regions. Growing government creativities and the introduction of innovative products are importantly inducing the industrial hemp market growth rate in North America region. The country United States is presiding with the leading shares of the global market due to the increasing occurrences of chronic diseases or illness. Canada is following to the U.S in leading the noteworthy shares of the industrial hemp market. 25% of the holding was industrial hemp in Canada, a foremost quality for the industrial hemp market to grow in Canadian country.
United States is deeply capitalizing on emerging diverse varieties of industrial hemp with THC (Tetrahydrocannabinol) content below 0.3% afterward the reorganized in 2018 Farm Bill which legalized its invention. China is the highest exporter of processed hemp products and raw products in the United States trailed by Romania and Hungary.
Industrial Hemp Market Segmentation Overview:
Industrial Hemp Market is segmented By Product, and by Application. Depending on the product segment, the market is segmented into Fiber, Seed, and Shives. Depending on the Application, the market is categorized into Textiles, Animal Care, Personal Care, and Food and Beverages.
Geographically the global Industrial Hemp Market classified into North America into the USA, Canada. By Latin America into Brazil, Argentina, Mexico. By Europe into UK, Germany, Spain, France, London, Italy, and rest of the European countries. The Middle East and Africa into KSA, UAE, Qatar, & South Africa. The Asia Pacific into India, China, Japan, Malaysia, Singapore, Australia, and the Rest of the APAC countries
Industrial Hemp Market Key Companies Profiled:
The major companies profiled in the global industrial hemp market report are; Parkland Industrial, CBD Biotechnology Co., Ltd., Hemp Growers Cooperative Ltd, HempMeds Brasil, Botanical Genetics, LLC., American Cannabis Company, Inc, Terra Tech Corp, Industrial Hemp Manufacturing, LLC, HempFlax B.V., Boring Hemp Company, and American Hemp.
- Animal Care
- Personal Care
- Food and Beverages
- North America
- Latin America
- Asia Pacific
- Middle East and Africa
- Rest of the World
- Parkland Industrial
- CBD Biotechnology Co., Ltd.
- Hemp Growers Cooperative Ltd
- HempMeds Brasil
- Botanical Genetics, LLC.
- American Cannabis Company, Inc
- Terra Tech Corp
- Industrial Hemp Manufacturing, LLC
- HempFlax B.V
- Boring Hemp Company
- American Hemp
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