Industrial Hemp Market: By Product, By Source, By Application and By Geography  

Industrial Hemp Market Size, Share, Growth, Trends, and Global Industry Analysis: By Product (Hemp Seeds, Seed Oils, Hemp Fibers and CBD Hemp Oil), By Source (Conventional and Organic), By Application (Food, Beverages, Personal Care Products, Textiles, Pharmaceuticals and Others) and By Region  

Industrial Hemp Market Size was valued at US$ 4.9 billion in 2023 and expected to reach a value of US$ 26.7 billion by 2030, growing at a CAGR of 35% during 2024-2030. The market is expected to grow due to its application utilisation in the personal care, food and beverage, textile, and biocomposite industries. The high essential fatty acid content of hemp oil, which prevents and alleviates diseases, is one element leading to industrial growth in the food and beverage sector. Industrial hemp is a resource that is incredibly renewable. The crop produces a large production of edible proteins and fibres, with over 50,000 product applications once harvested. Because people are becoming more health-conscious, the demand for Industrial Hemp products is growing by the day.

Consumers' increased preference for natural products is a major driver for the worldwide market. Papermaking, textiles, biodegradable plastics, fuel, construction, and healthful food are just a few of the applications for industrial hemp. Industrial hemp is a crop grown for use in a variety of products such as fabrics and textiles, meals and beverages, cosmetics and personal care products, nutritional supplements, paper, yarns and spun fibres, construction materials, and other items. Industrial hemp is not the same as marijuana, yet they are both cultivars of the Cannabis sativa L. species. On a dry-weight basis, marijuana contains 3 to 15% THC (tetrahydrocannabinol), whereas industrial hemp contains less than 1%. In most developed countries that allow hemp growth, cultivars with less than 0.3 percent tetrahydrocannabinol must be used (THC).

Some of the key factors fostering the market growth include increasing number of chronic diseases, rising use of hemp seeds and hemp oil seeds in different food applications together with growing demand for bakery products such as bread and cookies, superior mechanical properties of industrial hemp manufactured through environment friendly process and surging population and an increase in the level of disposable income. However, complex regulatory structure for the usage of industrial hemp and lack of processing facilities are inhibiting the market growth.  

Industrial Hemp Market Key Developments

  • In January 2022, Hemp Inc. launched CBDA and CBGA line of water, tinctures, gummies, capsules, and edibles in a variety of sizes, potencies, flavors and formulas for the COVID_19 patients.

Global Industrial Hemp Market Summary

Study Period

2024-2030

Base Year

2023

CAGR

35%

Largest Market

Asia-Pacific

Fastest Growing Market

North America

Industrial Hemp Market Dynamics

Hemp is measured as one of the worlds most nutritious plants. The seeds contain all of the essential amino acids, making them an ideal source of protein for vegans and raw foodists. Hemps booming reputation as a food and beverage ingredient is predicated on bolstered recognition as a versatile nutritional powerhouse. Hemp seeds and oil have been part of the human diet in Asia and Europe for at least 5,000 years. In China and in other hemp growing areas in Asia, hemp seeds remain as traditional foods. Growing demand for hemp-based food products including cooking oil, dairy alternatives, flour, and salad dressings is likely to drive market growth. High consumption of hemp-based foods and supplements owing to increased health issues such as cardiovascular diseases (CVDs) and other serious issues is anticipated to impel growth.

Global Industrial Hemp Market Segmentation Analysis

Report Benchmarks

Details

Report Study Period

2024-2030

Market Size in 2023

US$ 4.9 billion

Market Size in 2030

US$ 26.7 billion

Market CAGR

35%

By Product

  • Hemp Seeds
  • Seed Oils
  • Hemp Fibers
  • CBD Hemp Oil

By Source

  • Conventional
  • Organic

By Application

By Region

  • North America
  • Europe
  • Asia-Pacific
  • Latin America
  • Middle East and Africa (MEA)

Key Features of the Report

  • The industrial hemp market report provides granular level information about the market size, regional market share, historic market (2018 to 2022) and forecast (2023 to 2029)
  • The report covers in-detail insights about the competitors overview, company share analysis, key market developments, and their key strategies
  • The report outlines drivers, restraints, unmet needs, and trends that are currently affecting the market
  • The report tracks recent innovations, key developments and startups details that are actively working in the market
  • The report provides plethora of information about market entry strategies, regulatory framework and reimbursement scenario
  • The report analyses the impact of socio-political environment through PESTLE Analysis and competition through Porters Five Force Analysis in addition to recent technology advancements and innovations in the market

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Frequently Asked Questions

Industrial hemp market size was valued at US$ 4.9 billion in 2023 and is set to reach US$ 26.7 billion in 2030 at a CAGR of 35% from 2024-2030.

The Industrial Hemp Market has been classified into North America, Asia Pacific, Europe, Latin America, Middle East and Africa, and the rest of MEA.

North America is the fastest-growing for Industrial Hemp Market

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Author

Prem Kumar

Prem Kumar with profound experience and sound knowledge across a wide range of market forecasting methods, demand f.....

1.Executive Summary
2.Global Industrial Hemp Market Introduction 
2.1.Global Industrial Hemp Market  - Taxonomy
2.2.Global Industrial Hemp Market  - Definitions
2.2.1.Source
2.2.2.Product Type
2.2.3.Application
2.2.4.Region
3.Global Industrial Hemp Market Dynamics
3.1. Drivers
3.2. Restraints
3.3. Opportunities/Unmet Needs of the Market
3.4. Trends
3.5. Product Landscape
3.6. New Product Launches
3.7. Impact of COVID 19 on Market
4.Global Industrial Hemp Market Analysis, 2018-2022 and Forecast 2023-2029
4.1.  Market Analysis, 2018-2022 and Forecast, 2023-2029, (Sales Value USD Million)
4.2.  Year-Over-Year (Y-o-Y) Growth Analysis (%) 
4.3.  Market Opportunity Analysis 
5.Global Industrial Hemp Market  By Source, 2018-2022 and Forecast 2023-2029 (Sales Value USD Million)
5.1. Organic
5.1.1. Market Analysis, 2018-2022 and Forecast, 2023-2029, (Sales Value USD Million)
5.1.2. Year-Over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) 
5.1.3. Market Opportunity Analysis 
5.2. Conventional
5.2.1. Market Analysis, 2018-2022 and Forecast, 2023-2029, (Sales Value USD Million)
5.2.2. Year-Over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) 
5.2.3. Market Opportunity Analysis 
6.Global Industrial Hemp Market  By Product Type, 2018-2022 and Forecast 2023-2029 (Sales Value USD Million)
6.1. Hemp Seed
6.1.1. Market Analysis, 2018-2022 and Forecast, 2023-2029, (Sales Value USD Million)
6.1.2. Year-Over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) 
6.1.3. Market Opportunity Analysis 
6.2. Hemp Seed Oil
6.2.1. Market Analysis, 2018-2022 and Forecast, 2023-2029, (Sales Value USD Million)
6.2.2. Year-Over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) 
6.2.3. Market Opportunity Analysis 
6.3. CBD Hemp Oil
6.3.1. Market Analysis, 2018-2022 and Forecast, 2023-2029, (Sales Value USD Million)
6.3.2. Year-Over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) 
6.3.3. Market Opportunity Analysis 
6.4. Hemp Fibre
6.4.1. Market Analysis, 2018-2022 and Forecast, 2023-2029, (Sales Value USD Million)
6.4.2. Year-Over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) 
6.4.3. Market Opportunity Analysis 
6.5. Hemp Hurd
6.5.1. Market Analysis, 2018-2022 and Forecast, 2023-2029, (Sales Value USD Million)
6.5.2. Year-Over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) 
6.5.3. Market Opportunity Analysis 
6.6. Others
6.6.1. Market Analysis, 2018-2022 and Forecast, 2023-2029, (Sales Value USD Million)
6.6.2. Year-Over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) 
6.6.3. Market Opportunity Analysis 
7.Global Industrial Hemp Market  By Application, 2018-2022 and Forecast 2023-2029 (Sales Value USD Million)
7.1. Animal Care
7.1.1. Market Analysis, 2018-2022 and Forecast, 2023-2029, (Sales Value USD Million)
7.1.2. Year-Over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) 
7.1.3. Market Opportunity Analysis 
7.2. Textiles
7.2.1. Market Analysis, 2018-2022 and Forecast, 2023-2029, (Sales Value USD Million)
7.2.2. Year-Over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) 
7.2.3. Market Opportunity Analysis 
7.3. Automotive
7.3.1. Market Analysis, 2018-2022 and Forecast, 2023-2029, (Sales Value USD Million)
7.3.2. Year-Over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) 
7.3.3. Market Opportunity Analysis 
7.4. Furniture
7.4.1. Market Analysis, 2018-2022 and Forecast, 2023-2029, (Sales Value USD Million)
7.4.2. Year-Over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) 
7.4.3. Market Opportunity Analysis 
7.5. Food & Beverages
7.5.1. Market Analysis, 2018-2022 and Forecast, 2023-2029, (Sales Value USD Million)
7.5.2. Year-Over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) 
7.5.3. Market Opportunity Analysis 
7.6. Paper
7.6.1. Market Analysis, 2018-2022 and Forecast, 2023-2029, (Sales Value USD Million)
7.6.2. Year-Over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) 
7.6.3. Market Opportunity Analysis 
7.7. Construction Materials
7.7.1. Market Analysis, 2018-2022 and Forecast, 2023-2029, (Sales Value USD Million)
7.7.2. Year-Over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) 
7.7.3. Market Opportunity Analysis 
7.8. Pharmaceuticals
7.8.1. Market Analysis, 2018-2022 and Forecast, 2023-2029, (Sales Value USD Million)
7.8.2. Year-Over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) 
7.8.3. Market Opportunity Analysis 
7.9. Personal Care
7.9.1. Market Analysis, 2018-2022 and Forecast, 2023-2029, (Sales Value USD Million)
7.9.2. Year-Over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) 
7.9.3. Market Opportunity Analysis 
7.10. Others
7.10.1. Market Analysis, 2018-2022 and Forecast, 2023-2029, (Sales Value USD Million)
7.10.2. Year-Over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) 
7.10.3. Market Opportunity Analysis 
8.Global Industrial Hemp Market  By Region, 2018-2022 and Forecast 2023-2029 (Sales Value USD Million)
8.1. North America
8.1.1. Market Analysis, 2018-2022 and Forecast, 2023-2029, (Sales Value USD Million)
8.1.2. Year-Over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) 
8.1.3. Market Opportunity Analysis 
8.2. Europe
8.2.1. Market Analysis, 2018-2022 and Forecast, 2023-2029, (Sales Value USD Million)
8.2.2. Year-Over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) 
8.2.3. Market Opportunity Analysis 
8.3. Asia Pacific (APAC)
8.3.1. Market Analysis, 2018-2022 and Forecast, 2023-2029, (Sales Value USD Million)
8.3.2. Year-Over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) 
8.3.3. Market Opportunity Analysis 
8.4. Latin America
8.4.1. Market Analysis, 2018-2022 and Forecast, 2023-2029, (Sales Value USD Million)
8.4.2. Year-Over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) 
8.4.3. Market Opportunity Analysis 
8.5. Middle East and Africa
8.5.1. Market Analysis, 2018-2022 and Forecast, 2023-2029, (Sales Value USD Million)
8.5.2. Year-Over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) 
8.5.3. Market Opportunity Analysis 
9.North America Industrial Hemp Market ,2018-2022 and Forecast 2023-2029 (Sales Value USD Million)
9.1. Source Analysis 2018-2022 and Forecast 2023-2029 by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) 
9.1.1.Organic
9.1.2.Conventional
9.2.  Product Type Analysis 2018-2022 and Forecast 2023-2029 by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) 
9.2.1.Hemp Seed
9.2.2.Hemp Seed Oil
9.2.3.CBD Hemp Oil
9.2.4.Hemp Fibre
9.2.5.Hemp Hurd
9.2.6.Others
9.3.  Application Analysis 2018-2022 and Forecast 2023-2029 by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) 
9.3.1.Animal Care
9.3.2.Textiles
9.3.3.Automotive
9.3.4.Furniture
9.3.5.Food & Beverages
9.3.6.Paper
9.3.7.Construction Materials
9.3.8.Pharmaceuticals
9.3.9.Personal Care
9.3.10.Others
9.4.  Country Analysis 2018-2022 and Forecast 2023-2029 by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) 
9.4.1.United States of America (USA)
9.4.2.Canada
10.Europe Industrial Hemp Market ,2018-2022 and Forecast 2023-2029 (Sales Value USD Million)
10.1. Source Analysis  and Forecast  by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) 
10.1.1.Organic
10.1.2.Conventional
10.2.  Product Type Analysis 2018-2022 and Forecast 2023-2029 by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) 
10.2.1.Hemp Seed
10.2.2.Hemp Seed Oil
10.2.3.CBD Hemp Oil
10.2.4.Hemp Fibre
10.2.5.Hemp Hurd
10.2.6.Others
9.3.  Application Analysis 2018-2022 and Forecast 2023-2029 by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) 
10.3.1.Animal Care
10.3.2.Textiles
10.3.3.Automotive
10.3.4.Furniture
10.3.5.Food & Beverages
10.3.6.Paper
10.3.7.Construction Materials
10.3.8.Pharmaceuticals
10.3.9.Personal Care
10.3.10.Others
10.4.  Country Analysis 2018-2022 and Forecast 2023-2029 by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) 
10.4.1.Germany
10.4.2.France
10.4.3.Italy
10.4.4.United Kingdom (UK)
10.4.5.Spain
10.4.6.Rest of EU
11.Asia Pacific (APAC) Industrial Hemp Market ,2018-2022 and Forecast 2023-2029 (Sales Value USD Million)
11.1. Source Analysis  and Forecast  by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) 
11.1.1.Organic
11.1.2.Conventional
11.2.  Product Type Analysis 2018-2022 and Forecast 2023-2029 by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) 
11.2.1.Hemp Seed
11.2.2.Hemp Seed Oil
11.2.3.CBD Hemp Oil
11.2.4.Hemp Fibre
11.2.5.Hemp Hurd
11.2.6.Others
10.3.  Application Analysis 2018-2022 and Forecast 2023-2029 by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) 
11.3.1.Animal Care
11.3.2.Textiles
11.3.3.Automotive
11.3.4.Furniture
11.3.5.Food & Beverages
11.3.6.Paper
11.3.7.Construction Materials
11.3.8.Pharmaceuticals
11.3.9.Personal Care
11.3.10.Others
11.4.  Country Analysis 2018-2022 and Forecast 2023-2029 by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) 
11.4.1.China
11.4.2.India
11.4.3.Australia and New Zealand (ANZ)
11.4.4.Japan
11.4.5.Rest of APAC
12.Latin America Industrial Hemp Market ,2018-2022 and Forecast 2023-2029 (Sales Value USD Million)
12.1. Source Analysis  and Forecast  by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) 
12.1.1.Organic
12.1.2.Conventional
12.2.  Product Type Analysis 2018-2022 and Forecast 2023-2029 by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) 
12.2.1.Hemp Seed
12.2.2.Hemp Seed Oil
12.2.3.CBD Hemp Oil
12.2.4.Hemp Fibre
12.2.5.Hemp Hurd
12.2.6.Others
11.3.  Application Analysis 2018-2022 and Forecast 2023-2029 by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) 
12.3.1.Animal Care
12.3.2.Textiles
12.3.3.Automotive
12.3.4.Furniture
12.3.5.Food & Beverages
12.3.6.Paper
12.3.7.Construction Materials
12.3.8.Pharmaceuticals
12.3.9.Personal Care
12.3.10.Others
12.4.  Country Analysis 2018-2022 and Forecast 2023-2029 by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) 
12.4.1.Brazil
12.4.2.Mexico
12.4.3.Rest of LA
13.Middle East and Africa Industrial Hemp Market ,2018-2022 and Forecast 2023-2029 (Sales Value USD Million)
13.1. Source Analysis  and Forecast  by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) 
13.1.1.Organic
13.1.2.Conventional
13.2.  Product Type Analysis 2018-2022 and Forecast 2023-2029 by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) 
13.2.1.Hemp Seed
13.2.2.Hemp Seed Oil
13.2.3.CBD Hemp Oil
13.2.4.Hemp Fibre
13.2.5.Hemp Hurd
13.2.6.Others
12.3.  Application Analysis 2018-2022 and Forecast 2023-2029 by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) 
13.3.1.Animal Care
13.3.2.Textiles
13.3.3.Automotive
13.3.4.Furniture
13.3.5.Food & Beverages
13.3.6.Paper
13.3.7.Construction Materials
13.3.8.Pharmaceuticals
13.3.9.Personal Care
13.3.10.Others
13.4.  Country Analysis 2018-2022 and Forecast 2023-2029 by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) 
13.4.1.GCC Countries
13.4.2.South Africa
13.4.3.Rest of MEA
14. Competition Landscape
14.1.  Market Player Profiles (Introduction, Brand/Product Sales, Financial Analysis, Product Offerings, Key Developments, Collaborations, M & A, Strategies, and SWOT Analysis) 
14.2.1.CBD Biotechnology Co.
14.2.2.Marijuana Company of America Inc.
14.2.3.HempMeds Brasil
14.2.4.Terra Tech Corp.
14.2.5.American Cannabis Company, Inc.
14.2.6.HempFlax B.V.
14.2.7.Industrial Hemp Manufacturing, LLC
14.2.8.American Hemp
14.2.9.Boring Hemp Company
14.2.10.Plains Industrial Hemp Processing Ltd.
14.2.11.Ecofiber Industries Operations
14.2.12.Valley Bio Limited
14.2.13.Wandarra Pty Ltd
15. Research Methodology 
16. Appendix and Abbrevations 

Key Market Players

  • Hempco
  • Ecofibre
  • Hemp Inc
  • GenCanna
  • HempFlax BV
  • Konoplex Group
  • Hemp Oil Canada
  • BAFA
  • Hemp Poland
  • Dun Agro

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