Industrial Hemp Market size to increase by USD 6.87 billion between 2022 to 2027 | 22nd Century Group Inc., Aurora Cannabis Inc., Bombay Hemp Co. Pvt. Ltd., and more among key companies

NEW YORK, Nov. 24, 2023 /PRNewswire/ — The industrial hemp market size is expected to grow by USD 6.87 billion from 2022 to 2027. In addition, the growth momentum of the market will progress at a CAGR of 17.1% during the forecast period, according to Technavio. High demand from the textile industry is notably driving the industrial hemp market. However, factors such as Challenges associated with the production of hemp may impede market growth. The market is segmented by Product (Seeds, Fiber, and Shivs), Application (Textile, Food and beverages, Personal care, Animal care, and Others), and Geography (APAC, North America, Europe, South America, and Middle East and Africa). We provide a detailed analysis of 20 companies operating in the industrial hemp market including 22nd Century Group Inc., Aurora Cannabis Inc., Bombay Hemp Co. Pvt. Ltd., Boring Hemp Co., Canopy Growth Corp., Charlottes Web Holdings Inc., CV Sciences Inc., Deep Nature Project GmbH, Dun Agro Hemp Group, Ecofibre Ltd., Elixinol Wellness Ltd., GFR Ingredients Ltd., Hanma Investment Group Co. Ltd., HempFlax Group BV, HemPoland Sp zoo, Liaoning Qiaopai Biotech Co. Ltd., Medical Marijuana Inc., Nutiva Inc., Parkland Industrial Hemp Growers Co op. Ltd., and Tilray Brands Inc. The report offers an up-to-date analysis of the market, and to know the exact growth variance and the Y-O-Y growth rate, Request a Free Sample Report.

Industrial Hemp Market 2023-2027: Company Analysis

Boring Hemp Co. – The company offers hemp seeds of high quality. The key offerings of the company include industrial hemp such as feminized seed and biomass.

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Industrial Hemp Market 2023-2027: Segmentation

Product

The seeds segment will be significant for overall market growth during the forecast period. The largest share of the global market in 2022 was held by the seeds segment. Hemp milk, hemp oil, and hemp protein powder are all made with hemp seeds, which are a great source of protein and essential fatty acids.
Application (Textile, Food and beverages, Personal care, Animal care, and Others).

Geography

APAC is estimated to account for 40% of the market growth during the forecast period. Industrial hemp is widely used in the region, with China, Japan, and South Korea among the major producers and consumers of hemp-based goods. The rising use of hemp-based products across industries and the legalization of hemp cultivation in several nations, including China, India, Bangladesh, Japan, Australia, etc., will fuel the significant growth of the market in APAC over the coming years.
North America, Europe, South America, and Middle East and Africa.

Learn about the contribution of each segment summarized in concise infographics and thorough descriptions. View a FREE PDF Sample Report

Industrial Hemp Market 2023-2027: Key Highlights

Historic Market Size 2017-2021
CAGR of the market during 2023-2027
Detailed information on factors that will assist industrial hemp market growth during the next five years
Estimation of the industrial hemp market size and its contribution to the parent market
Forecasts on upcoming trends and changes in consumer behavior
The growth of the industrial hemp market
Analysis of the competitive landscape and detailed information on companies
Comprehensive details of factors that will impede the growth of industrial hemp market companies

Related Reports:

The hemp fiber market size is expected to increase by USD 4.28 billion from 2021 to 2026, and the market’s growth momentum will accelerate at a CAGR of 15.32%.

The hemp-based foods market size is estimated to grow at a CAGR of 13.22% between 2022 and 2027. The market size is forecast to increase by USD 4,636.23 million.

ToC:

Executive Summary

Market Landscape

Market Sizing

Historic Market Sizes

Five Forces Analysis

Market Segmentation by Product

Market Segmentation by Application

Market Segmentation by Geography

Customer Landscape

Geographic Landscape

Drivers, Challenges, & Trends

Company Landscape

Company Analysis

Appendix

About Technavio

Technavio is a leading global technology research and advisory company. Their research and analysis focus on emerging market trends and provide actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions.

With over 500 specialized analysts, Technavio’s report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio’s comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.

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