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Global Industrial Hemp Market to Reach USD 12,413.7 million by 2028, Driven by the Implementation of Favourable Government Policies

Industrial Hemp Market

Global Industrial Hemp Market: By Source: Conventional, Organic; By Product Type: Hemp Seed, Hemp Fibre, Hemp Seed Oil, CBD hemp Oil, Others; By Application; Regional Analysis; Historical Market and Forecast (2018-2028); Competitive Landscape; Industry Events and Developments

Global Industrial Hemp Market Outlook

The global industrial hemp market attained a value of USD 5,040.9 million in 2022. The market is estimated to grow at a CAGR of 19.0% during 2023-2028 to reach a value of USD 12,413.7 million by 2028. 

 

The market is being driven by the rising demand from the textile industry. The product is cultivated to be used in the production of food and beverage, and non-food based products, without the use of toxic chemicals, fertilizers, and pesticides. In addition to this, the product is a renewable and environmentally efficient raw material for the production of materials, such as plastic, paper, and fuel.

The Asia Pacific is one of the fastest-growing regions for this industry and is expected to witness increased growth in the forecast period. The regional market is expected to witness a growth due to the ease of access to the raw materials and rising global demand for hemp from Asia.

 

Industrial Hemp Market

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Market Segmentation

Industrial hemp is the stalk, oil, seeds, and leaves of a variety of the cannabis sativa plant. The product is used to make industrial items, such as building materials, paper products, textiles, personal care items, health supplements, and much more.

Based on the source, the market is bifurcated into conventional and organic.

On the basis of product type, the market is divided into:

  • Hemp Seed
  • Hemp Fibre
  • Hemp Seed Oil
  • CBD Hemp Oil
  • Others

By application, the market is categorised into:

  • Food and Beverages
  • Personal Care
  • Animal Care
  • Pharmaceuticals
  • Textiles
  • Construction Materials
  • Others

The regional markets for the product include North America, Europe, the Asia Pacific, and LAMEA.

 

Industrial Hemp Market by Application

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Market Analysis

The global industrial hemp market is driven by the growing health and wellness sector. The market is accelerating owing to the extensive use of the product in various industries, such as textile, paper, food and beverage, personal care, construction, furniture, and automobile. The increasing geriatric population and rising skin diseases caused by the increased UV light exposure across the world are giving rise to the demand for personal care products, especially products with organic ingredients. Thus, the rising demand for organic personal care products is aiding the market growth. The rising use of the product as a textile yarn and as an alternative to cotton and synthetic fibres is further bolstering the market growth. In the coming years, the market is expected to be aided by the rising environmental awareness, changing government policies in several countries, and the increasing demand for the product.

 

Industrial Hemp Market by Region

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Competitive Landscape

The report gives a detailed analysis of the following key players in the global industrial hemp market, covering their competitive landscape, capacity, and latest developments like mergers, acquisitions, and investments, expansions of capacity, and plant turnarounds:

  • Hemp Inc
  • Manitoba Harvest Hemp Foods
  • Bombay Hemp Company Private Limit
  • HempFlax Group B.V.
  • HPS Food & Ingredients Inc.
  • Unrivaled Brands, Inc
  • Others

The comprehensive EMR report provides an in-depth assessment of the market based on the Porter's five forces model along with giving a SWOT analysis.

 

REPORT FEATURES DETAILS
Base Year 2022
Historical Period 2018-2022
Forecast Period 2023-2028
Scope of the Report Historical and Forecast Trends, Industry Drivers and Constraints, Historical and Forecast Market Analysis by Segment- Source, Product Type, Application, Region
Breakup by Source Conventional, Organic
Breakup by Product Type Hemp Seed, Hemp Fibre, Hemp Seed Oil, CBD Hemp Oil, Others
Breakup by Application Food and Beverages, Personal Care, Animal Care, Pharmaceuticals, Textiles, Construction Materials, Others
Breakup by Region North America, Europe, Asia Pacific, LAMEA
Market Dynamics SWOT, Porter's Five Forces, Key Indicators for Price and Demand
Trade Data Analysis Major Importing Countries by Value and Volume, Major Exporting Countries by Value and Volume
Price Analysis Historical and Forecast Price Trends- Regional
Competitive Landscape Market Structure, Company Profiles- Company Overview, Product Portfolio, Demographic Reach and Achievements, Certifications
Companies Covered Hemp Inc, Manitoba Harvest Hemp Foods, Bombay Hemp Company Private Limit, HempFlax Group B.V., HPS Food & Ingredients Inc., Unrivaled Brands, Inc, Others
Report Price and Purchase Option Explore our purchase options that are best suited to your resources and industry needs.
Delivery Format Delivered as an attached PDF and Excel through email, with an option of receiving an editable PPT, according to the purchase option.

 

*At Expert Market Research, we strive to always give you current and accurate information. The numbers depicted in the description are indicative and may differ from the actual numbers in the final EMR report.

1    Preface
2    Report Coverage – Key Segmentation and Scope
3    Report Description
    3.1    Market Definition and Outlook
    3.2    Properties and Applications
    3.3    Market Analysis
    3.4    Key Players
4    Key Assumptions
5    Executive Summary
    5.1    Overview
    5.2    Key Drivers
    5.3    Key Developments
    5.4    Competitive Structure
    5.5    Key Industrial Trends
6    Market Snapshot
    6.1    Global
    6.2    Regional
7    Opportunities and Challenges in the Market
8    Global Industrial Hemp Market Analysis
    8.1    Key Industry Highlights
    8.2    Global Industrial Hemp Historical Market (2018-2022) 
    8.3    Global Industrial Hemp Market Forecast (2023-2028)
    8.4    Global Industrial Hemp Market by Source
        8.4.1    Conventional
            8.4.1.1    Historical Trend (2018-2022)
            8.4.1.2    Forecast Trend (2023-2028)
        8.4.2    Organic
            8.4.2.1    Historical Trend (2018-2022)
            8.4.2.2    Forecast Trend (2023-2028)
    8.5    Global Industrial Hemp Market by Product Type
        8.5.1    Hemp Seed
            8.5.1.1    Historical Trend (2018-2022)
            8.5.1.2    Forecast Trend (2023-2028)
        8.5.2    Hemp Fibre
            8.5.2.1    Historical Trend (2018-2022)
            8.5.2.2    Forecast Trend (2023-2028)
        8.5.3    Hemp Seed Oil
            8.5.3.1    Historical Trend (2018-2022)
            8.5.3.2    Forecast Trend (2023-2028)
        8.5.4    CBD Hemp Oil
            8.5.4.1    Historical Trend (2018-2022)
            8.5.4.2    Forecast Trend (2023-2028)
    8.6    Global Industrial Hemp Market by Application
        8.6.1    Food and Beverages
            8.6.1.1    Historical Trend (2018-2022)
            8.6.1.2    Forecast Trend (2023-2028)
        8.6.2    Personal Care
            8.6.2.1    Historical Trend (2018-2022)
            8.6.2.2    Forecast Trend (2023-2028)
        8.6.3    Animal Care
            8.6.3.1    Historical Trend (2018-2022)
            8.6.3.2    Forecast Trend (2023-2028)
        8.6.4    Pharmaceuticals
            8.6.4.1    Historical Trend (2018-2022)
            8.6.4.2    Forecast Trend (2023-2028)
        8.6.5    Textiles
            8.6.5.1    Historical Trend (2018-2022)
            8.6.5.2    Forecast Trend (2023-2028)
        8.6.6    Construction Materials
            8.6.6.1    Historical Trend (2018-2022)
            8.6.6.2    Forecast Trend (2023-2028)
        8.6.7    Others   
    8.7    Global Industrial Hemp Market by Region
        8.7.1    North America
            8.7.1.1    Historical Trend (2018-2022)
            8.7.1.2    Forecast Trend (2023-2028)
        8.7.2    Europe
            8.7.2.1    Historical Trend (2018-2022)
            8.7.2.2    Forecast Trend (2023-2028)
        8.7.3    Asia Pacific
            8.7.3.1    Historical Trend (2018-2022)
            8.7.3.2    Forecast Trend (2023-2028)
        8.7.4    LAMEA
            8.7.4.1    Historical Trend (2018-2022)
            8.7.4.2    Forecast Trend (2023-2028)
9    North America Industrial Hemp Market Analysis
    9.1    United States of America
        9.1.1    Historical Trend (2018-2022)
        9.1.2    Forecast Trend (2023-2028)
    9.2    Canada
        9.2.1    Historical Trend (2018-2022)
        9.2.2    Forecast Trend (2023-2028)
10    Europe Industrial Hemp Market Analysis
    10.1    United Kingdom
        10.1.1    Historical Trend (2018-2022)
        10.1.2    Forecast Trend (2023-2028)
    10.2    Germany
        10.2.1    Historical Trend (2018-2022)
        10.2.2    Forecast Trend (2023-2028)
    10.3    France
        10.3.1    Historical Trend (2018-2022)
        10.3.2    Forecast Trend (2023-2028)
    10.4    Italy
        10.4.1    Historical Trend (2018-2022)
        10.4.2    Forecast Trend (2023-2028)
    10.5    Others
11    Asia Pacific Industrial Hemp Market Analysis
    11.1    China
        11.1.1    Historical Trend (2018-2022)
        11.1.2    Forecast Trend (2023-2028)
    11.2    Japan
        11.2.1    Historical Trend (2018-2022)
        11.2.2    Forecast Trend (2023-2028)
    11.3    India
        11.3.1    Historical Trend (2018-2022)
        11.3.2    Forecast Trend (2023-2028)
    11.4    ASEAN
        11.4.1    Historical Trend (2018-2022)
        11.4.2    Forecast Trend (2023-2028)
    11.5    Australia
        11.5.1    Historical Trend (2018-2022)
        11.5.2    Forecast Trend (2023-2028)
    11.6    Others
12    LAMEA Industrial Hemp Market Analysis
    12.1    Brazil
        12.1.1    Historical Trend (2018-2022)
        12.1.2    Forecast Trend (2023-2028)
    12.2    Argentina
        12.2.1    Historical Trend (2018-2022)
        12.2.2    Forecast Trend (2023-2028)
    12.3    Mexico
        12.3.1    Historical Trend (2018-2022)
        12.3.2    Forecast Trend (2023-2028)
    12.4    South Africa
        12.4.1    Historical Trend (2018-2022)
        12.4.2    Forecast Trend (2023-2028)
    12.5    Others
13    Market Dynamics
    13.1    SWOT Analysis
        13.1.1    Strengths
        13.1.2    Weaknesses
        13.1.3    Opportunities
        13.1.4    Threats
    13.2    Porter’s Five Forces Analysis
        13.2.1    Supplier’s Power
        13.2.2    Buyer’s Power
        13.2.3    Threat of New Entrants
        13.2.4    Degree of Rivalry
        13.2.5    Threat of Substitutes
    13.3    Key Indicators for Demand
    13.4    Key Indicators for Price
14    Value Chain Analysis
15    Trade Data Analysis (HS Code: 5302, 12079991, 12079901, 12079911, 12079910)
    15.1    Major Importing Countries
        15.1.1    By Volume
        15.1.2    By Value
    15.2    Major Exporting Countries
        15.2.1    By Volume
        15.2.2    By Value
16    Price Analysis
    16.1    North America Historical Price Trends (2018-2022) and Forecast (2023-2028)
    16.2    Europe Historical Price Trends (2018-2022) and Forecast (2023-2028)
    16.3    Asia Pacific Historical Price Trends (2018-2022) and Forecast (2023-2028)
    16.4    Latin America Historical Price Trends (2018-2022) and Forecast (2023-2028)
    16.5    Middle East and Africa Historical Price Trends (2018-2022) and Forecast (2023-2028)
17    Competitive Landscape
    17.1    Market Structure
    17.2    Company Profiles
        17.2.1    Hemp Inc
            17.2.1.1    Company Overview
            17.2.1.2    Product Portfolio
            17.2.1.3    Demographic Reach and Achievements
            17.2.1.4    Certifications
        17.2.2    Manitoba Harvest Hemp Foods
            17.2.2.1    Company Overview
            17.2.2.2    Product Portfolio
            17.2.2.3    Demographic Reach and Achievements
            17.2.2.4    Certifications
        17.2.3    Bombay Hemp Company Private Limited
            17.2.3.1    Company Overview
            17.2.3.2    Product Portfolio
            17.2.3.3    Demographic Reach and Achievements
            17.2.3.4    Certifications
        17.2.4    HempFlax Group B.V.
            17.2.4.1    Company Overview
            17.2.4.2    Product Portfolio
            17.2.4.3    Demographic Reach and Achievements
            17.2.4.4    Certifications
        17.2.5    HPS Food & Ingredients Inc.
            17.2.5.1    Company Overview
            17.2.5.2    Product Portfolio
            17.2.5.3    Demographic Reach and Achievements
            17.2.5.4    Certifications
        17.2.6    Unrivaled Brands, Inc
            17.2.6.1    Company Overview
            17.2.6.2    Product Portfolio
            17.2.6.3    Demographic Reach and Achievements
            17.2.6.4    Certification
        17.2.7    Others
18    Key Trends and Developments in the Market

 

List of Key Figures and Tables

1.    Global Industrial Hemp Market: Key Industry Highlights, 2018 and 2028
2.    Global Industrial Hemp Historical Market: Breakup by Source (USD Billion), 2018-2022
3.    Global Industrial Hemp Market Forecast: Breakup by Source (USD Billion), 2023-2028
4.    Global Industrial Hemp Historical Market: Breakup by Product Type (USD Billion), 2018-2022
5.    Global Industrial Hemp Market Forecast: Breakup by Product Type (USD Billion), 2023-2028
6.    Global Industrial Hemp Historical Market: Breakup by Application (USD Billion), 2018-2022
7.    Global Industrial Hemp Market Forecast: Breakup by Application (USD Billion), 2023-2028
8.    Global Industrial Hemp Historical Market: Breakup by Region (USD Billion), 2018-2022
9.    Global Industrial Hemp Market Forecast: Breakup by Region (USD Billion), 2023-2028
10.    North America Industrial Hemp Historical Market: Breakup by Country (USD Billion), 2018-2022
11.    North America Industrial Hemp Market Forecast: Breakup by Country (USD Billion), 2023-2028
12.    Europe Industrial Hemp Historical Market: Breakup by Country (USD Billion), 2018-2022
13.    Europe Industrial Hemp Market Forecast: Breakup by Country (USD Billion), 2023-2028
14.    Asia Pacific Industrial Hemp Historical Market: Breakup by Country (USD Billion), 2018-2022
15.    Asia Pacific Industrial Hemp Market Forecast: Breakup by Country (USD Billion), 2023-2028
16.    LAMEA Industrial Hemp Historical Market: Breakup by Country (USD Billion), 2018-2022
17.    LAMEA Industrial Hemp Market Forecast: Breakup by Country (USD Billion), 2023-2028
18.    Major Importing Countries by Volume 
19.    Major Exporting Countries by Volume 
20.    Major Importing Countries by Value 
21.    Major Exporting Countries by Value
22.    North America Historical Price Trends and Forecast 2018-2028
23.    Europe Historical Price Trends and Forecast 2018-2028
24.    Asia Pacific Historical Price Trends and Forecast 2018-2028
25.    Latin America Historical Price Trends and Forecast 2018-2028
26.    Middle East and Africa Historical Price Trends and Forecast 2018-2028
27.    Global Industrial Hemp Market Structure

Key Questions Answered in the Report

What was the global industrial hemp market size in 2022?

In 2022, the global industrial hemp market attained a value of USD 5,040.9 million in 2022.

What is the forecast outlook of the market for 2023-2028?

The market is estimated to witness a healthy growth in the forecast period of 2023-2028 to reach about USD 12,413.7 million by 2028.

What are the major market drivers?

The major drivers of the market, such as the rising demand from the textile industry, the increasing health and wellness sector, and the growing demand for organic personal care products are expected to aid the market growth.

What are the key market trends of the global industrial hemp market?

The key market trends guiding the growth of the industrial hemp market include the rising eco-consciousness, growing product awareness, changing government policies in several countries, and the increasing demand for hemp-based products.

What are the major regional markets of industrial hemp, according to the EMR report?

The major regions in the industry are North America, Europe,  Asia Pacific and LAMEA.

What are the major sources of the product in the market?

The major sources of industrial hemp in the market are conventional and organic.

What are the leading product types in the market?

The leading product types in the market are hemp seed, fibre, and seed oil, CBD seed oil, among others.

What are the significant application segments within the market?

The significant application segments within the market are food and beverages, personal care, animal care, pharmaceuticals, textiles, and construction materials, among others.

Who are the key market players according to the report?

The major players in the market are Hemp Inc, Manitoba Harvest Hemp Foods, Bombay Hemp Company Private Limit, HempFlax Group B.V., HPS Food & Ingredients Inc., Unrivaled Brands, Inc, among others.

Analyst Review

The global industrial hemp market attained a value of USD 5,040.9 million in 2022, driven by the rising demand from the textile industry. Aided by the rising product awareness, the market is expected to witness a further growth in the forecast period of 2023-2028. The industrial hemp market is projected to reach USD 12,413.7 million by 2028. 

EMR’s meticulous research methodology delves deep into the market, covering the macro and micro aspects of the industry. Based on its sources, the market can be bifurcated into conventional and organic. On the basis of product types, the market is divided into hemp seed, fibre, and seed oil, CBD Hemp oil, among others. On the basis of applications, the market is categorised into food and beverages, personal care, animal care, pharmaceuticals, textiles, construction materials, and others. The major regional markets for the product are North America, Europe, the Asia Pacific, and LAMEA. The key players in the above market include Hemp Inc, Manitoba Harvest Hemp Foods, Bombay Hemp Company Private Limit, HempFlax Group B.V., HPS Food & Ingredients Inc., Unrivaled Brands, Inc, among others.

EMR’s research methodology uses a combination of cutting-edge analytical tools and the expertise of their highly accomplished team, thus, providing their customers with market insights that are accurate, actionable, and help them remain ahead of their competition.

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