Industrial Hemp Market Global Demand, Sales, Consumption and Forecasts to forecast 2029
Global Industrial Hemp Market was valued at USD 6.18 Billion in 2021, and it is expected to reach USD 65.79 Billion by 2029, exhibiting a CAGR of 34.4 % during the forecast period (2022-2029)
Industrial Hemp Market Overview
The industry overview gives thorough details about the size of the Market all the Market dynamics including strategies, Market revenue, pricing analysis, micro and macro Market trends and scenarios & Industry benchmarks. The region wise consumer preference, Market size & Industrial rivalry is also covered in detailed
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Industrial Hemp Market Report Scope and Research Methodology
The Industrial Hemp Market size for individual segments were determined through various secondary sources including industry associations, white papers, and journals. Surveys, administering questionnaires and telephonic interviews with Industrial Hemp industry specialists, Market leaders, entrepreneurs and Marketing professionals were included in the primary methods. The PESTLE analysis was used to understand the potential impact of the micro-economic and macro-economic factors affecting the Market.
Dedicated study of the rivalry in the industry is covered, which includes Market leaders, followers, and new entrants. Extensive primary research was conducted to acquire information and verify and confirm the crucial numbers arrived at after comprehensive Market engineering and calculations for Market statistics; Market size estimations, Market forecasts, Market breakdown and data triangulation. The secondary data was collected from the company’s annual reports, articles, paid and free databases, etc. To estimate the regional and global Market size, the bottom-up approach was used.
Market Segmentation
The market is divided into hemp seed, hemp seed oil, CBD hemp oil, and hemp fibre based on kind. Throughout the projection period, the hemp fibre segment is anticipated to rule the market. Both bast (outer, long fibres) and hurds (inner, short fibres) are forms of fibre found in hemp. The other two types into which the bast fibres are further classified are primary bast fibres, which can be up to 50 mm long and contain between 50 and 70% cellulose, and secondary bast fibres, which are only around 2 mm long. Since they can be spun and knitted, bast fibres are mainly used in the textile industry.
The market is divided into categories for food, drinks, textiles, personal care items, medicines, and other products based on application. Forecasts indicate that the food industry will rule the industrial hemp sector. This is because hemp is used to make foods that are rich in linoleic and linolenic acid, vitamin E, and minerals including calcium, zinc, iron, salt, potassium, and magnesium. The most popular ways to consume hemp are as raw or roasted seeds. It can be found in salads, smoothies, yoghurt, and cereals. According to estimates, as veganism becomes more and more popular around the world, there will be a growth in demand for processed foods manufactured from hemp, such as bars, flour, snacks, and cheese.
Market Key Players
• Valley Bio Ltd.
• Hemp, Inc.
• Terra Tech Corp.
• American Hemp
• Ecofiber Industries Operations
• Botanical Genetics, LLC
• Marijuana Company of America, Inc.
• HempMedsBrasil
• CBD Biotechnology Co.
• Plains Industrial Hemp Processing Ltd.
• HempFlax B.V.
• Industrial Hemp Manufacturing, LLC
• Boring Hemp Company
• American Cannabis Company, Inc.
• Parkland Industrial Hemp Growers Cooperative Ltd.
Market Regional Insights
The regional analytics cover North America, South America, Asia Pacific, Europe & Middle East and Africa. The report includes a detailed explanation of Market size, trends, competition & adoption of technology region wise.
Key questions answered in the Market are:
- What is Industrial Hemp?
- What are the global trends in the Market?
- What was the Industrial Hemp Total Market size in 2022?
- What is expected Market size by 2029?
- Who held the largest Market share in Market?
- Who are the leading companies and what are their portfolios in Market?
- What are the major challenges that the Industrial Hemp Industry could face in the future?
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Key Offerings:
- Past Market Size and Competitive Landscape (2018 to 2021)
- Past Pricing and price curve by region (2018 to 2021)
- Industrial Manipulator Market Size, Share, Size & Forecast by different segment | 2022−2029
- Industrial Manipulator Market Dynamics – Growth Drivers, Restraints, Opportunities, and Key Trends by region
- Industrial Manipulator Market Segmentation – A detailed analysis by Type, Application and Region
- Competitive Landscape – Profiles of selected key players by region from a strategic perspective
- Competitive landscape – Market Leaders, Market Followers, Regional player
- Competitive benchmarking of key players by region
- PESTLE Analysis
- PORTER’s analysis
- Value chain and supply chain analysis
- Legal Aspects of business by region
- Lucrative business opportunities with SWOT analysis
About Maximize Market Research:
Maximize Market Research is a multifaceted Market research and consulting company with professionals from several industries. Some of the industries we cover include medical devices, pharmaceutical manufacturers, science and engineering, electronic components, industrial equipment, technology and communication, cars and automobiles, chemical products and substances, general merchandise, beverages, personal care, and automated systems. To mention a few, we provide Market-verified industry estimations, technical trend analysis, crucial Market research, strategic advice, competition analysis, production and demand analysis, and client impact studies.
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