Global Industrial Hemp Market Size, Trends & Growth Opportunity, by Application (Food and Beverages, Textiles, Pharmaceuticals), by Type (Hemp Seed, Hemp Oil, Hemp Fiber), by Source (Conventional, Organic), and by geography (North America, Latin America, Europe, APAC, Middle East & Africa) and forecast till 2027
Report ID : QR1001249 | Industries : Others | Published On :October 2021 | Page Count : 259Global Industrial Hemp Market
Industrial hemp is a diversity of Cannabis sativa plant species. Hemp is used in psychoactive drug which is take out from cannabis plants. Hemp is useful for medical or recreational purposes. It has significant amounts of protein, carbohydrates, vitamins, essential fatty acids, and trace elements. In addition, hemp supports in reducing pain by altering pain perception pathways in the brain.
Market Drivers
Functional properties of hemp seed and hemp seed oil, and their increased use in different food applications is the main factor that expected to drive the growth of the hemp seed market. The growing preference for eco-friendly products in thermal insulation, construction materials, fiberglass alternatives, and automotive products is expected to drive the market over the forecast period. The increasing demand for technical products such as varnishes, solvents, oil paints, printing inks, fuel, chain-saw lubricants, putty, and coatings is anticipated to drive the market growth.
Know more about this report: request for sample pages
Market Restraints
Complex regulatory structure for the usage of industrial hemp is major restraining factor for the market. Countries across the world exercise different levels of legalization for different types of hemp, and the strict regulatory rules relating to the production and sales across numerous states in the same country could be difficult for manufacturers and stakeholders to comply with.
Market Segmentation
The industrial hemp market has been divided based on type, application, source and region. On the base of Type market is segmented into hemp seed, hemp oil, hemp fiber and within this the hemp fiber segment is expected to dominate the market. On the basis of application market is segmented into food and beverages, textiles, personal care products, pharmaceuticals and others and the food segment is anticipated to dominate the market. On the basis of source market is segmented into conventional and organic and from this conventional source sector is expected to lead the market during forecast period.
Regional Analysis
Asia Pacific dominated the market and accounted for key share in 2020. Growing demand for industrial hemp and advancing technologies and innovation are making harvesting easier for cultivators, thereby changing the face of hemp production in this region. Industrial hemp production, consumption, and transportation are firmly controlled by many laws in North America. No big scale commercial production in the U.S. and the market mainly depends on imports. American drug and controlled substance laws and the Food & Drug Administration restricting the market. Hemp industry in The European region focuses on industrial applications of hemp such as automotive and construction materials. Hemp grown from Romania, Hungary, France, Slovenia, and many other European countries is increasingly being used in industrial applications.
Market Key Players
Some of the key players in the global industrial hemp market are Hempco Food and Fiber Inc., Ecofibre, Hemp Inc., GenCanna, HempFlax Group B.V., The Konoplex Group, South Hemp, Plains Industrial Hemp Processing Ltd., MH medical hemp
Industry Development
Ecofibre announced that Ananda Health had secured an exclusive distribution agreement with CVS, under which a line of hemp-derived topical product. Ananda Health will initially supply ten topical products for sale exclusively at select CVS Pharmacylocations. All products will be manufactured in Ecofibre’s new facility in Georgetown.
The company announced the launch of a new cannabidiol (CBD) product called Diamonds under the King of Hemp product line. The products are derived from a golden-hued high CBD, THC-free distillate taken directly from the hemp plant that includes blends of valuable terpenes.
Global Industrial Hemp Market TOC
1 Introduction
1.1 Objective of the Study
1.2 Market definition
1.3 Market Scope
2 Research Methodology
2.1 Data Mining
2.2 Validation
2.3 Primary Interviews
2.4 List of Data Sources
3 Executive Summary
4 Global Industrial Hemp Market Outlook
4.1 Overview
4.2 Market Dynamics
4.2.1 Drivers
4.2.2 Restraints
4.2.3 Opportunities
4.3 Porters Five Force Model
4.4 Value Chain Analysis
5 Global Industrial Hemp Market, By Application
5.1 Y-o-Y Growth Comparison, By Application
5.2 Global Industrial Hemp Market Share Analysis, By Application
5.3 Global Industrial Hemp Market Size and Forecast, By Application
5.3.1 Food and Beverages
5.3.2 Textiles
5.3.3 Personal Care Products
5.3.4 Pharmaceuticals
5.3.5 Others
6 Global Industrial Hemp Market, By Type
6.1 Y-o-Y Growth Comparison, By Type
6.2 Global Industrial Hemp Market Share Analysis, By Type
6.3 Global Industrial Hemp Market Size and Forecast, By Type
6.3.1 Hemp Seed
6.3.2 Hemp Oil
6.3.3 Hemp Fiber
6.3.4 Others
7 Global Industrial Hemp Market, By Source
7.1 Y-o-Y Growth Comparison, By Source
7.2 Global Industrial Hemp Market Share Analysis, By Source
7.3 Global Industrial Hemp Market Size and Forecast, By Source
7.3.1 Conventional
7.3.2 Organic
8 Global Industrial Hemp Market, By Region
8.1 Global Industrial Hemp Market Share Analysis, By Region
8.2 Global Industrial Hemp Market Share Analysis, By Region
8.3 Global Industrial Hemp Market Size and Forecast, By Region
9 North America Industrial Hemp Market Analysis and Forecast (2021-2027)
9.1 Introduction
9.2 North America Industrial Hemp Market Share Analysis, By Application
9.3 North America Industrial Hemp Market Size and Forecast, By Type
9.4 North America Industrial Hemp Market Size and Forecast, By Source
9.5 North America Industrial Hemp Market Size and Forecast, By Country
9.5.1 U.S.
9.5.2 Canada
9.5.3 Mexico
10 Europe Industrial Hemp Market Analysis and Forecast (2021-2027)
10.1 Introduction
10.2 Europe Industrial Hemp Market Share Analysis, By Application
10.3 Europe Industrial Hemp Market Size and Forecast, By Type
10.4 Europe Industrial Hemp Market Size and Forecast, By Source
10.5 Europe Industrial Hemp Market Size and Forecast, By Country
10.5.1 Germany
10.5.2 France
10.5.3 UK
10.5.4 Rest of Europe
11 Asia Pacific Industrial Hemp Market Analysis and Forecast (2021-2027)
11.1 Introduction
11.2 Asia Pacific Industrial Hemp Market Share Analysis, By Application
11.3 Asia Pacific Industrial Hemp Market Size and Forecast, By Type
11.4 Asia Pacific Industrial Hemp Market Size and Forecast, By Source
11.5 Asia Pacific Industrial Hemp Market Size and Forecast, By Distribution Channel
11.6 Asia Pacific Industrial Hemp Market Size and Forecast, By Country
11.6.1 China
11.6.2 Japan
11.6.3 India
11.6.4. Rest of Asia Pacific
12 Latin America Industrial Hemp Market Analysis and Forecast (2021-2027)
12.1 Introduction
12.2 Latin America Industrial Hemp Market Share Analysis, By Application
12.3 Latin America Industrial Hemp Market Size and Forecast, By Type
12.4 Latin America Industrial Hemp Market Size and Forecast, By Source
12.5 Latin America Industrial Hemp Market Size and Forecast, Country
12.5.1. Brazil
12.5.2. Rest of Latin America
13 Middle East Industrial Hemp Market Analysis and Forecast (2021-2027)
13.1 Introduction
13.2 Middle East Industrial Hemp Market Share Analysis, By Application
13.3 Middle East Industrial Hemp Market Size and Forecast, By Type
13.4 Middle East Industrial Hemp Market Size and Forecast, By Source
13.5 Middle East Industrial Hemp Market Size and Forecast, By Country
13.5.1. Saudi Arabia
13.5.2. UAE
13.5.3. Egypt
13.5.4. Kuwait
13.5.5. South Africa
14 Competitive Analysis
14.1 Competition Dashboard
14.2 Market share Analysis of Top Vendors
14.3 Key Development Strategies
15 Company Profiles
15.1 Hempco Food and Fiber Inc.
15.1.1 Overview
15.1.2 Offerings
15.1.3 Key Financials
15.1.4 Business Segment & Geographic Overview
15.1.5 Key Market Developments
15.1.8 Key Strategies
15.2 Ecofibre
15.2.1 Overview
15.2.2 Offerings
15.2.3 Key Financials
15.2.4 Business Segment & Geographic Overview
15.2.5 Key Market Developments
15.2.8 Key Strategies
15.3 Hemp Inc.
15.3.1 Overview
15.3.2 Offerings
15.3.3 Key Financials
15.3.4 Business Segment & Geographic Overview
15.3.5 Key Market Developments
15.3.8 Key Strategies
15.4 GenCanna
15.4.1 Overview
15.4.2 Offerings
15.4.3 Key Financials
15.4.4 Business Segment & Geographic Overview
15.4.5 Key Market Developments
15.4.8 Key Strategies
15.5 HempFlax Group B.V.
15.5.1 Overview
15.5.2 Offerings
15.5.3 Key Financials
15.5.4 Business Segment & Geographic Overview
15.5.5 Key Market Developments
15.5.8 Key Strategies
15.8 The Konoplex Group
15.8.1 Overview
15.8.2 Offerings
15.8.3 Key Financials
15.8.4 Business Segment & Geographic Overview
15.8.5 Key Market Developments
15.8.8 Key Strategies
15.7 South Hemp
15.7.1 Overview
15.7.2 Offerings
15.7.3 Key Financials
15.7.4 Business Segment & Geographic Overview
15.7.5 Key Market Developments
15.7.8 Key Strategies
15.8 Plains Industrial Hemp Processing Ltd.
15.8.1 Overview
15.8.2 Offerings
15.8.3 Key Financials
15.8.4 Business Segment & Geographic Overview
15.8.5 Key Market Developments
15.8.8 Key Strategies
15.9 MH medical hemp
15.9.1 Overview
15.9.2 Offerings
15.9.3 Key Financials
15.9.4 Business Segment & Geographic Overview
15.9.5 Key Market Developments
15.9.8 Key Strategies