Industrial Hemp Market and Report Global Forecast, By Type (Seeds, Oil, Fibers, and Others), Sources (Conventional, Organic), by Application (Textiles, Personal Care, Food & Beverages, Animal Care, Paper, Automotive, Construction Materials, Furniture, and Others), by Region (North America, Europe, Asia Pacific, and the Latin America, Middle East & Africa) Companies Analysis 2024-2032

Industrial Hemp Market Size

Industrial Hemp Market Outlooks

Hemp is a sub-type of the cannabis plant species known specifically for industrial purposes. It has relatively low amounts of THC which is the psycho active component present in marijuana. Hemp differs from marijuana in the sense that its main uses are based on its stout fibers, its seeds, as well as its oil. This tree has been grown for many years for different uses such as in cloth industry, as building materials, in production of bio fuels, and even as food. Due to fastest rate of growth, multi usability, ecofriendly ability of absorbing CO2, and ability of fixing soil nutrients, it is fast becoming a preferred crop for many sustainable industries.

In the world industrial hemp has many uses across different industries. Today it is used in the textile industry it possesses strong fibers that are befitting the fabrication of durable fabrics. Hemp seeds are incorporated to food products because of their nutritional values and is rich in omega 3 and omega 6 essential fatty acids. Cosmetic and beauty products use hemp oil and the construction industry also use hempcrete, an environmentally friendly concrete. Also, for the use of bioplastics and biofuel application, hemp is also being considered.

Growth Driver of the Industrial Hemp Market

Rising Demand for Sustainable Products

A rise in demand for sustainable and environmental products also drives the industrial hemp market as a major factor. Hemp is an annual plant that has the potential of yielding eco-friendly products like biodegradable products, textiles, and biofuels instead of the harmful environment products. This is because in the current world, industries are shifting their operations and business to adopting sustainable approaches and have included the use of products with low carbon footprint and hemp-based products have resulted as a beneficiary. This change is backed by alterations in the legal requirements and raising consciousness of the beneficial effects of more expansion of hemp use in many industries including fashion and construction and packaging.

Expansion of Hemp-Related Legislation

Increased legalization of industrial hemp in many areas has greatly enhanced its market due to availability of legal production of hemp. In the United States for instance, through the amendments in the 2018 Farm Bill, hemp was legalized meaning farmers were free to cultivate it. This has resulted in enactment of laws that has encouraged hemp farming and establishment of processing plants. With increasing number of states adopting friendly laws, the market is gradually expanding for products derived from the hemp plant like the CBD oil and industrial uses. These changes in legal structures are friendly to investment and subsequently enhance market growth which in turn fuels this market’s expansion.

Versatile Applications Across Industries

Industrial hemp has several uses which make it to be useful hence making its market to expand. It can be used in textile, concrete, in the food industry especially as preservatives, in health supplements among others. Hemp raw material has qualities that can allow it to serve different sectors, strength, durability, and low impact on the environment. More and more enterprises urge the shift toward hemp-based products in their work due to the discovery of new applications for the material. Such flexibility calls Rubana different types of actors in a market and spurs unprecedented draw in product differentiation hence encouraging potential intending actors and stimulating the market growth.

North America Industrial Hemp Market

North American Industrial hemp market is steadily expanding, due to changing legal restrictions and escalating consumer concern on products made of sustainable material.

United States Industrial Hemp Market

The expansion of the United States is witnessed in the increasing market for hemp products particularly in food and beverages; cosmetic; and health and nutrients markets. Another advantage of the market in this region is the high level of agricultural technologies, rising interest in studying hemp and the density of key players in the market. Consumer awareness and their demand for the products that are friendly to the environment also play an added bonus on the market. Subsequent to the 2018 Farm Bill that made legal the growth of industrial hemp in the United States, farming and processing activities shot up significantly. Some states that have been leading in the growing of hemp include Colorado and Kentucky where the plants are used for various purposes which include; extraction of CBD oil. A well-developed and favorable base and increasing funding for hemp-based advancements define the situation in the United States.

Canada industrial hemp market

The market for industrial hemp in Canada is also growing due to favourable laws and the country’s established agricultural base. This country legalised cultivation of industrial hemp in the late 1990s, and it today remains one of the biggest growers and processors of hemp seeds. The Canadian Industrial Hemp Promotion-Research Agency Proclamation (Proclamation) will enable the PRA to compile a levies order as well as the power of setting and collecting a levy with regard to interprovincial, imported, and exported farm products Consequently, it will also assist in researching new and more efficient production techniques as well as enhancing the quality of the products; advertise and promote the consumption of the farm products both locally and internationally. Canadian companies more recently extend their research on possible uses including biodegradable plastics and hempcrete, making Canada as a crucial player in the expanding North America hemp industry.

Asia Pacific Industrial Hemp Market

Currently the Asia Pacific Industrial Hemp market is growing as the public and government becomes more aware of the uses of hemp.

China Industrial Hemp Market

Well-developed hemp cultivation for textiles, paper, food products and so on is prevalent in china which is the largest producer of hemp in the world. The authorities encourage hemp cultivation mentioning it as one of the nontraditional crops that can be cultivated by farmers. Sweeter has also attributed the development of processing technology to the improvement of China’s status in this market.

Australia industrial hemp Market

Australia is relatively new to the market of industrial hemp production after the legalization of hemp in the year 2017. Australian farmers are gradually turning to hemp in many uses such as extraction of CBD, food uses and biocomposites. The urge to consume natural and sustainable products has made consumers opt to spend on research and development and has increased innovation in the industry. The Asia Pacific industrial hemp market is expected to have a rapid growth in the near future as both the countries are advancing into the using the hemp in different sectors.

Industrial Hemp Company Analysis

The top companies in the Industrial Hemp Market are Marijuana Company of America Inc., American Cannabis Company, Inc., Ecofibre Limited, Aurora Cannabis, Agropur, and Darling Ingredients Inc.

Industrial Hemp Company News

In June 2024, Hempalta Corp announced a new biochar product derived from industrial hemp and shared corporate updates, including a name change for its processing division, operations expansion, and stock option granting.

In August 2024, AgTech company Hempalta launched biochar derived from hemp to complement its carbon credit platform.

In June 2024, Curaleaf Holdings, Inc. announced the launch of a new line of hemp-derived THC products under the Select and Zero Proof brands.

By Products –Market will be divided into four Viewpoints

1. Seeds
2. Stalks
3. Fibres
4. Others

By Sources - Market will divided into 2 Viewpoints

• Conventional
• Organic

By Application –Market will divided into 9 Viewpoints:-

1. Textiles
2. Personal Care
3. Food & Beverages
4. Animal Care
5. Paper
6. Automotive
7. Construction Materials
8. Furniture
9. Others

By Country – Market will be divided into 25 Country

North America

• United States
• Canada

Europe

• France
• Germany
• Italy
• Spain
• United Kingdom
• Belgium
• Netherlands
• Turkey

Asia Pacific

• China
• Japan
• India
• Australia
• South Korea
• Thailand
• Malaysia
• Indonesia
• New Zealand

Latin America

• Brazil
• Mexico
• Argentina

Middle East & Africa

• South Africa
• Saudi Arabia
• United Arab Emirates

All the key players have been covered from 5 Viewpoints:

• Key Person
• Company overview
• Sales Analysis
• Product Portfolio
• Recent Development & Strategies
• Company Analysis

Company Analysis

1. Marijuana Company of America Inc.
2. American Cannabis Company, Inc.
3. Ecofibre Limited
4. Aurora Cannabis
5. Agropur
6. Darling Ingredients Inc.

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