Global Industrial Hemp Market Size, Share, Growth Analysis, By Type (hemp seed, hemp oil), By Application (Textiles, Personal Care Products) - Industry Forecast 2023-2030
GlobalIndustrialHempMarketInsights
Global Industrial Hemp Market size was valued at USD 4.2 billion in 2021 and is poised to grow from USD 4.74 billion in 2022 to USD 16.75 billion by 2030,growingataCAGRof17.1%intheforecastperiod(2023-2030).
The global demand for industrial hemp from application industries such as food and beverage, personal care, and animal care is driving the market.Asaresult,themarkethassufferedadevastatingsetback.However, given the rapid recovery of global economies, the market is expected to expand at a faster pace. Over the forecast period, the market in the United States is expected to be driven by the steady growth of small-scale market players of hemp-based industrial and consumer products. Growing
consumer awareness of the nutritional benefits of hemp seed and hemp seed oil, as well as rising demand from the cosmetics and personal care industries, will drive market growth. Increased production of hemp-based soaps, shampoos, bath gels, hand and body lotions, UV skin protectors, massage oils, and a variety of other hemp-based products is expected to boost market growth. Hemp's high nutritional value, as well as its beneficial fatty acid and protein profile, are driving demand for hemp products. Hemp fiber's high absorbency makes it useful for livestock bedding, oil and gas cleanup, and personal hygiene applications. Furthermore, increasing product demand from the textile, paper, and building materials markets will support market growth due to favourable acoustic and aesthetic properties.
GetaCompleteOverviewofGlobalIndustrialHempMarket:
https://www.skyquestt.com/report/industrial-hemp-market
IndustrialHempMarketTopPlayer'sCompanyProfiles:
• Canopy Growth Corporation
• Aurora Cannabis Inc.
• Hemp, Inc.
• Ecofibre Limited
• HempFlax Group B.V.
• Hemp Inc.
• GenCanna Global Inc.
• Hempco Food and Fiber Inc.
• Colorado Hemp Works
• BAFA NEU GmbH
• Hemp Genetics International
• American Hemp, LLC
• Hemp Oil Canada Inc.
• Konoplex Group
• Northwest Hemp LLC
• Blue Sky Hemp Ventures Ltd.
• Botanical Genetics, LLC
• HMI Group
• Isodiol International Inc.
• Folium Biosciences
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