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.
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- Cavac Biomateriaux
- All American Hemp Company
- Hempco Food and Fiber Inc
- Green Source Organics
- Trigone Foods Inc.
- Blue Sky Hemp Ventures Ltd.
- Hempro International
- Hemp Foods Australia
- Hemp Inc.
- Marijuana Company of America Inc.
- Hemp Sense Inc.
- North American Hemp & Grain Co. Ltd.
- Hemp Production Services Inc.
- Manitoba Harvest Hemp Foods
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.
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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.
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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.
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Industrial Hemp Market: Segmentation