The latest PMR report titled “Industrial Hemp Market: Global Industry Analysis 2013–2017 and Forecast 2018–2027” offers key insights on the global industrial hemp market in terms of value and volume. The global industrial hemp market is expected to grow at a healthy CAGR of 18.3% in terms of value over the forecast period.
On the basis of product type, the seeds segment is expected to hold a substantial revenue share of 66.7% for year 2017 in the global industrial hemp market with a CAGR of 17.7%. On the basis of application, the hemp CBD segment is expected to grow at a robust CAGR of 18.6% by volume with growing demand from the health and wellness sector.
The global industrial hemp market has been witnessing healthy growth, owing to the use of the product in more than 25,000 products across about nine sectors, including food and beverage, textile, paper, construction, personal care, furniture and automobile. Industrial hemp is an annual plant and almost every part of the plant, such as seed, stalk and flower, is useful in a large number of applications. Industrial hemp is used in the processing and manufacturing of a number of products, which include insulation and construction material, paper, textile, fiberglass, nutraceutical, personal care products, bio-plastics and bio-fuel. It is largely grown for food & beverage as well as non-food based products without the use of toxic chemicals, herbicides, pesticides and fertilizers. Industrial hemp, being a fast growing plant, offers as a renewable and environmentally efficient raw material for the production of various products such as plastic, paper and fuel.
Production of industrial hemp is legal in more 30 countries around the globe. China, France and Canada are the key producers of industrial hemp whereas the U.S. is a key importer. Industrial hemp is often confused with marijuana plant and hence, is legally banned for cultivation in many countries, including most of the U.S. However, with rising awareness and increasing demand for industrial hemp from applications across various sectors, many countries are legalizing industrial hemp.
North America – A Prominent Region in the Industrial Hemp Market
Europe and Asia Pacific are pegged to be prominent regions in the global industrial hemp market as they are home to a number of key players in the market and have suitable government rules along with significant demand from various sectors.
North America is expected to surpass Europe and Asia Pacific in the global industrial hemp market during the forecast period, owing to the rising awareness, increasing demand for hemp-based products and changing government policies in the region. Despite the low production of industrial hemp in the U.S., the demand for hemp and hemp-based products has been robustly increasing day by day. Latin America and Middle East & Africa hold relatively lower shares in the industrial hemp market, but are expected to grow at good rates over the forecast period.
Key Manufacturers of Industrial Hemp
This report highlights opportunities and trends prevailing in each segment to give detailed insights and analysis on the growth of the global industrial hemp market. The final section of the report offers a competitive landscape of the key players operating in the industrial hemp market. The company profiles section also offers short- and long-term strategies and key offerings of manufacturers as well as the recent developments in the industrial hemp market.
Global Industrial Hemp Market: Competition Dashboard
Some of the market players profiled in this report on the global industrial hemp market are Hemp Production Services Inc., Marijuana Company of America Inc., Hemp Inc., Manitoba Harvest Hemp Foods, North American Hemp & Grain Co. Ltd., Hemp Sense Inc., Hemp Foods Australia, Hemp Inc., Agropro, Hempro International, Blue Sky Hemp Ventures Ltd., Trigone Foods Inc., Green Source Organics, Hempco Food and Fiber Inc., Cavac Biomateriaux and All American Hemp Company.
Industrial Hemp Market: Introduction
The recent market report of PMR on the global industrial hemp market evaluates opportunities in the current market, and provides updates and insights corresponding to different segments involved in the global industrial hemp market over the forecast period 2018–2027. The global industrial hemp market report further exhibits the estimated data for 2018, and forecast data up to 2027 in terms of value (US$ Mn) and volume (MT). In terms of value, the industrial hemp market is anticipated to increase at a CAGR of 19.8% during the forecast period. The present study exhibits the trends and market dynamics of the industrial hemp market in five major regions - North America, Latin America, Europe, Asia Pacific, and the Middle East and Africa. The report also includes the study of current issues with consumers and various future opportunities in the industrial hemp market.
Industrial Hemp Market: Report Description
The report explores the global industrial hemp market for the period 2018–2027. The primary objective of the global industrial hemp report is to provide insights into key developments in the market that are consistently supporting to transform global businesses that are associated with the industrial hemp market. It is very important to consider that, in an ever wavering economy, we provide the estimated (Y-o-Y) year-on-year growth rate in addition with the Compound Annual Growth Rate (CAGR) for the overall forecast, to understand the better analysis and evaluation of the global industrial hemp market, and to discover the equitable opportunities.
Yet another key feature of this report is that, the estimation of the global industrial hemp market, and the corresponding revenue forecast is carried out in terms of absolute dollar opportunity. This is usually not prioritized while forecasting overall market numbers. Absolute dollar opportunity analysis is very essential in evaluating the degree of opportunity that a provider can observe to execute, as well as to contrast the potential resources from a sales perspective in the global industrial hemp market.
The report starts with an elaborated executive summary, and the market definition of various segmentations that are included and their respective shares in the global industrial hemp market. The report further incorporates the major macroeconomic factors which have an effect over the growth of the industrial hemp market. The market report also highlights the various market dynamics that include the drivers and restraints in the global industrial hemp market. Current opportunities as well as on-going trends in the industrial hemp market are also discussed in the report. The report further underlines the study of the present issues with industrial processing, and opportunities in the industrial hemp market. It also encompasses value chain analysis, which provides a structural view of overall profitability from the manufacturer to the end user in the industrial hemp market. In order to provide users with a clear view of the global industrial hemp market, we have exhibited a competitive analysis of key market players and their strategic expansions. The competitive dashboard presents a detailed comparison of industrial hemp manufacturers on valuable parameters such as key product offerings, total revenue, key developments, and key strategies. The study intensifies the global industrial hemp market attractiveness analysis by nature, product type, end use, and region.
To evaluate the overall market size of industrial hemp, the report on the industrial hemp market considers various fundamental aspects based on secondary research. Furthermore, it emphasizes quantitative evaluation such as market shares and other qualitative data from primary respondents, which have been consolidated to arrive at clear and accurate market estimations. The market sizing contained within this report assumes that, by 2027, most major countries will have legalized the use of industrial hemp. The market size was benchmarked after checking on the current market scenario in key regions, upcoming trends, and changing government regulations. The forecast presented in the industrial hemp market report arrives at the total revenue being generated, and expected revenue contribution in the future by the global industrial hemp market.
Industrial Hemp Market: Competition Analysis
The detailed profiles of companies that manufacture industrial hemp are included in the report to analyze their developmental strategies, key product offerings, and recent developments, as they have a significant role in the global industrial hemp market. Market players covered in the industrial hemp market report are Cavac Biomateriaux, All American Hemp Company, Hempco Food and Fiber Inc., Green Source Organics, Trigone Foods Inc., Blue Sky Hemp Ventures Ltd., Hempro International, Agropro, Hemp Foods Australia, Hemp Inc., Marijuana Company of America Inc., Hemp Sense Inc., North American Hemp & Grain Co. Ltd., Hemp Production Services Inc., and Manitoba Harvest Hemp Foods.
Industrial Hemp Market: Segmentation
The subsequent sections analyze the global industrial hemp market on the basis of nature, end use, distribution channel and region, and presents a forecast for the period 2018–2027. The market is segmented as follows:
Industrial Hemp by Nature
Industrial Hemp by Product Type
Industrial Hemp by End Use
Industrial Hemp by Region
PMR Research Methodology
PMR is committed to provide its clients with unbiased market research solutions. PMR follows a robust methodology for deducing data that is included in this report. A demand-side approach is followed to estimate the sales of target products, followed by in-depth supply-side assessment of value generated, key trends, and events over a predefined period. This methodology is based on use of standard market structures, methods, and definitions that are based on inputs from local sources in over 5 regions, i.e. Europe, Asia Pacific, the Middle East and Africa, Latin America, and North America, which PMR considers for segmenting the global market. Statistics, characteristics, and variances are collected at a regional level, aggregated at the same level, and then synthesized at a worldwide level to create global market measurements. The report is compiled after months of research with tried-and-tested methodologies in order to offer the most accurate results. Our main sources of research include: