Industrial Hemp Market Trends, Share, Size, Growth, Sales, Opportunities and Forecast to 2029

pranit savgave

Dec 21, 2022 • 4 min read

Industrial Hemp Market

Industrial Hemp Market Overview:

To determine the overall size of the Industrial Hemp market by countries and segments, the research conducted a micro-level examination of each country. The size of the regional and global markets is calculated using a bottom-up strategy. In the secondary research and analysis of the same, both paid and unpaid databases are utilised. The supply and consumption information for each participant is gathered from official government databases, third-party databases, and, in the case of publicly traded enterprises, the company's annual reports. If annual reports from firms are not made public, they may be obtained through the local government's tax division.

Global demand for industrial hemp from application industries such as food and beverage, personal care, and animal care is propelling the market forward. Furthermore, the market is experiencing significant growth as a result of a number of factors, including an increase in the prevalence of chronic diseases such as diabetes, increased use of hempseed oil and hemp seeds in various food applications, increased use of non-psychoactive cannabinoid cannabidiol (CBD)-CBD hemp oil in the food and pharmaceutical industries, and increased legalisation of industrial hemp cultivation. The global market is only seeing modest growth as a result of the COVID-19 pandemic's economic recession, which has reduced industrial activity. As a result, the market has taken a huge hit. However, the market is expected to rise faster due to the rapid recovery of the world's economy.

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Industrial Hemp Market Research methodology:

Top-down and bottom-up approaches are used to estimate and validate the size of the worldwide Industrial Hemp market. To compile a comprehensive list of functional and pertinent players, players closely adhere to various industry classification criteria. To identify the most relevant competitors for the survey in the Industrial Hemp market, a rigorous validation test is also conducted. With the use of paid databases like Factiva, Bloomberg, etc., priority lists are ordered according to revenue generated based on most recent reporting.

Lastly, the questionnaire was established and particularly created to satisfy all requirements for gathering primary data via previous appointment, focusing on the principal target categories, including This assists us in gathering information on, among other things, player revenue, operational cycle and spending statistics, profit, and product or service growth. Most of the data—roughly 70–80 percent—is gathered through primary media and then verified using a variety of secondary sources, such as authorities, the World Bank, associations, business websites, SEC filings, OTC BB, USPTO, EPO, annual reports, press releases, etc.

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Industrial Hemp Market COVID 19 Impact:

The three primary ways that COVID-19 can impact the global economy are direct changes in supply and demand, market and supply chain disruptions, and economic impacts on businesses and financial markets. Our researchers, who are monitoring the situation globally, predict that the market will present producers with enticing opportunities following the COVID-19 issue. The purpose of the report is to emphasise the sector-wide effects of the current environment, the economic slump, and COVID-19 in more detail.

Industrial Hemp Market Segment:

The market is divided into four types: hemp seed, hemp seed oil, CBD hemp oil, and hemp fibre. During the forecast period, the hemp fibre segment is expected to dominate the market. Hemp has two types of fibres: bast (outer long fibres) and hurds (inner short fibres) (inner short fibers). The other two categories into which bast fibres are further subdivided are primary bast fibres, which can be up to 50 mm long and contain between 50 and 70% cellulose, and secondary bast fibres, which are only about 2 mm long. Bast fibres are commonly used in the textile industry because they can be spun and knitted. Hurds are the short fibres that make up between 70 and 80 percent of the hemp stalk.

Industrial Hemp Market Key players:

Hemp, Inc.
Terra Tech Corp.
American Hemp
Ecofiber Industries Operations
Botanical Genetics, LLC
Marijuana Company of America, Inc.
HempMedsBrasil
CBD Biotechnology Co.
Plains Industrial Hemp Processing Ltd.
HempFlax B.V.
Industrial Hemp Manufacturing, LLC
Boring Hemp Company
American Cannabis Company, Inc.

Industrial Hemp Market Regional Analysis:

Based on geography, the Industrial Hemp market is segmented into 5 main regions, and they are- North America, Europe, Asia Pacific, the Middle East, Africa, and South America respectively.

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