Industrial Hemp Market to Aggregate USD 36 Billion by 2026
According to the report, The global Industrial Hemp Market in 2019 was approximately USD 5 Billion. The market is expected to grow at a CAGR of 34% and is anticipated to reach around USD 36 Billion by 2026.
Industrial Hemp is an agricultural plant, generally called as hemp is a broad-leaved plant which is capable of having a rapid growth under perfect climatic conditions. Industrial Hemp includes all the byproducts of the hemp plant, which are generally thrown away such as small twigs, seeds, or dried leaves. It can be grown for food and non-food products and does not require any use of chemical fertilizer or pesticides. Industrial hemp is also used in the production of various products such as hemp oil, paper, textile clothing, biofuel, bio-plastics, and nutraceuticals.
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The Industrial Hemp market research report delivers an acute valuation and taxonomy of the Industrial Hemp industry by practically splitting the market on the basis of different types, applications, and regions. Through the analysis of the historical and projected trends, all the segments and sub-segments were evaluated through the bottom-up approach, and different market sizes have been projected for FY 2020 to FY 2026. The regional segmentation of the Industrial Hemp industry includes the complete classification of all the major continents including North America, Latin America, Europe, Asia Pacific, and Middle East & Africa. Further, country-wise data for the Industrial Hemp industry is provided for the leading economies of the world.
The Industrial Hemp market is segmented based on Type, Source, and Application. Based on type segmentation, the market is classified into Hemp Seed, Hemp Seed Oil, Hemp Fiber, CBD Hemp Oil. In terms of Source, the market is bifurcated into Organic and Conventional. In terms of application, the market is bifurcated into Food, Beverages, Personal Care Products, Textiles, Pharmaceuticals, Others.
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Some of the essential players operating in the Industrial Hemp market, but not restricted to include Hempco, Ecofibre, Hemp Inc., GenCanna, HempFlax BV, Konoplex Group, Hemp Oil Canada, BAFA, Hemp Poland, Dun Agro, Colorado Hemp Works, Canah International, South Hemp Tecno, Plains Industrial Hemp Processing, MH Medical Hemp, and Others.
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