Industrial Hemp Market Size, Share & Trends Analysis Report By Product (Seeds, Fiber, Shivs), By Application (Animal Care, Textiles, Food & Beverages, Construction Materials, Personal Care), By Region, And Segment Forecasts, 2023 - 2030

Report Overview

The global industrial hemp market size was estimated at USD 4.74 billion in 2022 and is expected to grow at a compound annual growth rate (CAGR) of 17.1% from 2023 to 2030. The growth is driven by the rising demand for industrial hemp from application industries such as food & beverage, personal care, and animal care across the globe. Growing demand for hemp products including fiber, seed, stalks, hurds, and oils from the aforementioned application industries is expected to drive the growth. Industrial hemp production is associated with several agricultural and environmental benefits. With its fast growth period of 120-150 days and significant biomass yield, hemp enables efficient use of agricultural land. It is useful in carbon sequestration as it yields a large amount of biomass along with providing a useful break in crop rotation.

The country is heavily investing in developing different varieties of industrial hemp with THC content less than 0.3% on account of the rising demand from different application industries. The Government of the U.S. announced a COVID-19 relief stimulus of USD 1.9 trillion in January 2021, which is expected to aid the market recovery. Moreover, the steady growth of small market players in hemp-based industrial and consumer products is anticipated to drive the U.S. industrial hemp market over the forecast period.

Growing awareness regarding the dietary advantages of hempseed and hempseed oil, along with growing demand from the cosmetics and personal care industries. Growing production of soaps, shampoo, bath gels, hand and body lotions, UV skin protectors, massage oils, and a range of other hemp-based products is expected to have a major impact on the market growth.

High nutritional values and beneficial fatty acid and protein profiles of hemp are driving the demand for hemp products. The high absorbency of hemp fiber is beneficial for livestock bedding, oil & gas cleanup, and the personal hygiene market. In addition, increasing product demand intextile, paper, and building materials markets is growing owing to its favorable acoustic and aesthetic properties.

The products manufactured from hemp are eco-friendly, renewable, and associated with less harmful methods of preparation. Paper produced from hemp fiber requires fewer chemicals for processing as compared to paper produced from wood pulps. Thus, the rising awareness about the product benefits is projected to benefit the market growth.

Product Insights

The hemp seeds product segment led the market and accounted for more than 28% revenue share of the global revenue in 2022. Hemp seeds are gaining popularity in food and nutraceutical markets to obtain seed, oil, and food matter. The rising use of hemp oil seed is used in lotions, shampoo, soap, bath gels, and cosmetics, which further benefits the market growth.

Hemp seeds are increasingly used in the production of oil which is consumed in personal care, food & beverages, and animal feed industries. In addition, the oil is used innutritional supplementsand medicinal & therapeutic products such as pharmaceuticals. The market for seeds is expected to grow over the forecast period on account of rising demand from application industries.

Hemp fibers are used in paper, carpeting, home furnishing, construction materials, insulation materials, auto parts, and composites. Insulation materials and bio-composites consume a significant amount of hemp fibers on account of their lightweight, superior strength, biodegradability, and thermodynamic properties.

Hemp shivs cost half the value of fibers and have several applications in different industries which is expected to drive market growth over the forecast period. Hemp shivs are majorly used in animal bedding materials on account of their high absorbance ability which is around four times its own dry weight.

Application Insights

The textile application segment led the market and accounted for more than 25% share of the global revenue in 2022. Hemp fabric is strong, hypo-allergic, and naturally resistant to UV light, mold, and mildew, which represents an added advantage over other fabrics. In addition, it can be blended with cotton or linen, which adds stretch and strength to the fabric.

Hemp seeds are rich in protein content and majorly used as birdseed and animal feed. Bird and fish feed are important markets for hemp seeds in animal nutrition. Fish and birds needfatty acidswith a high share ofomega-3and omega-6 fatty acids for optimum development, hence consume hemp seeds. Growing product demand in the animal care industry is likely to fuel the overall market growth.

Hemp oil is widely used in the manufacturing of food & beverages on account of its high nutritional content, including fatty acids, proteins, and several other ingredients. Several food manufacturing processes make use of hemp seeds and oil, this is expected to propel the market growth. In addition, rising consumer awareness about the product’s benefits is likely to fuel the market’s growth.

The product is increasingly used in insulation and construction materials such as fiberboard, cement blocks, putty, stucco and mortar, coatings, and other products as a fiberglass substitute. Construction materials using industrial hemp also include roofing underlay, acoustic materials, pipe wraps, house wraps, and shingles.

Regional Insights

亚太地区led the market and accounted for more than 32% revenue share of the global revenue in 2022. Economies such as China, India, Japan, Korea, Australia, New Zealand, and Thailand are actively involved in the production and consumption of industrial hemp and products such as fiber, seed, hurds, and oil.

Increasing global product demand along with advancing technologies and innovation are making harvesting easier for cultivators, thereby changing the face of hemp production in the region. Increasing consumption of hemp-based food products and supplements in developing economies with a growing geriatric population is expected to drive the hemp market over the forecast period

North America is the major consumer of industrial hemp products. These products are consumed in different application industries. High consumer disposable income, aging population, and rising concerns related to skin diseases and UV protection are expected to drive the demand for hemp oil in the personal care industry in the region.

Industrial hemp in Europe is majorly consumed in automotive parts, construction materials, textiles, and fabrics in the form of fibers. However, growing demand for hemp oil in the food & supplements, cosmetics, and personal care markets is expected to drive the market for hemp seeds over the forecast period.

关键企业和市场份额的见解欧宝平台外围

行业参与者产生大量和高品质因数uality industrial hemp along with a wide range of variants, in terms of, seed size and oil composition. Potential yields and processing methods, technologies used for processing, along with the cost of production and returns, play a major role in driving the competition in the industrial hemp industry.

Market players are focusing on increasing industrial hemp cultivation and processing facilities in economies where the plant can be grown legally. Major industry players are investing heavily in R&D activities to achieve high yields from cultivation. These players offer diverse varieties of hemp-derived products and can penetrate large markets. Some prominent players in the global industrial hemp market include:

• Parkland Industrial Hemp Growers Cooperative Ltd.

• CBD Biotechnology Co.

• Botanical Genetics, LLC

• Marijuana Company of America Inc.

• HempMeds Brasil

• Terra Tech Corp.

• American Cannabis Company, Inc.

• HempFlax B.V.

• Industrial Hemp Manufacturing, LLC

• American Hemp

• Hemp, Inc.

• Boring Hemp Company

• Plains Industrial Hemp Processing Ltd.

• Ecofiber Industries Operations

• Valley Bio Limited

Industrial Hemp Market Report Scope

Report Attribute	Details
Market size value in 2023	USD 5,507.2 million
Revenue forecast in 2030	USD 16.75 billion
Growth rate	CAGR of 17.1% from 2023 to 2030
Base year for estimation	2022
Historical data	2018 - 2021
Forecast period	2023 - 2030
Quantitative units	Volume in tons, revenue in USD million, and CAGR from 2023 to 2030
Report coverage	Volume forecast, revenue forecast, company ranking, competitive landscape, growth factors, and trends
Segments covered	Product, application, region
Regional scope	North America; Europe; Asia Pacific; Central & South America; Middle East & Africa
Country scope	U.S.; Canada; Germany; U.K.; France; China; India; Japan; Brazil
Key companies profiled	Parkland Industrial Hemp Growers Cooperative Ltd.; CBD Biotechnology Co.; Botanical Genetics, LLC; Marijuana Company of America Inc.; HempMeds Brasil; Terra Tech Corp.; American Cannabis Company, Inc.; HempFlax B.V.; Industrial Hemp Manufacturing, LLC; American Hemp; Hemp, Inc.; Boring Hemp Company; Plains Industrial Hemp Processing Ltd.; Ecofiber; Industries Operations; Valley Bio Limited
Customization scope	Free report customization (equivalent up to 8 analysts working days) with purchase. Addition or alteration to country, regional & segment scope.
革命制度党cing and purchase options	Avail customized purchase options to meet your exact research needs.Explore purchase options

Global Industrial Hemp Market Report Segmentation

This report forecasts volume and revenue growth at global, regional & country levels and provides an analysis based on the latest industry trends in each of the sub-segments from 2018 to 2030. For this study, Grand View Research has segmented the global industrial hemp market report based on product, application, and region:

• Product Outlook (Volume, Tons; Revenue, USD Million, 2018 - 2030)

  • Seeds

  • Fiber

  • Shivs

• Application Outlook (Volume, Tons; Revenue, USD Million, 2018 - 2030)

  • Animal Care

  • Textiles

  • Automotive

  • Furniture

  • Food & Beverages

  • Paper

  • Construction Materials

  • Personal Care

  • Other

• Regional Outlook (Volume, Tons; Revenue, USD Million, 2018 - 2030)

  • North America

    • U.S.

    • Canada

  • Europe

    • U.K.

    • Germany

    • France

  • 亚太地区

    • China

    • India

    • Japan

  • Central & South America

    • Brazil

  • Middle East & Africa