Industrial Hemp Market Report: Trends, Forecast and Competitive Analysis to 2030

Industrial Hemp Trends and Forecast

The future of the global industrial hemp market looks promising with opportunities in the food & beverage, textile, pharmaceutical, personal care product, animal nutrition, and paper markets. The global industrial hemp market is expected to reach an estimated $24.97 billion by 2030 with a CAGR of 21.2% from 2024 to 2030. The major drivers for this market are rising legalization of industrial hemp cultivation, increasing use of hemp seed and hemp seed oil in food applications, and increasing incidence of chronic diseases.

A more than 150-page report is developed to help in your business decisions.

Industrial Hemp by Segment

The study includes a forecast for the global industrial hemp by type, source, application, and region.

Industrial Hemp Market by Type [Shipment Analysis by Value from 2018 to 2030]:

• Hemp Seed
• Hemp Seed Oil
• CBD Hemp Oil
• Hemp Bast
• Hemp Hurd

Industrial Hemp Market by Source [Shipment Analysis by Value from 2018 to 2030]:

• Conventional
• Organic

Industrial Hemp Market by Application [Shipment Analysis by Value from 2018 to 2030]:

• Food & Beverages
• Textiles
• Pharmaceuticals
• Personal Care Products
• Animal Nutrition
• Paper
• Others

Industrial Hemp Market by Region [Shipment Analysis by Value from 2018 to 2030]:

• North America
• Europe
• Asia Pacific
• The Rest of the World

List of Industrial Hemp Companies

Companies in the market compete on the basis of product quality offered. Major players in this market focus on expanding their manufacturing facilities, R&D investments, infrastructural development, and leverage integration opportunities across the value chain. With these strategies industrial hemp companies cater increasing demand, ensure competitive effectiveness, develop innovative products & technologies, reduce production costs, and expand their customer base. Some of the industrial hemp companies profiled in this report include-

• Marijuana
• Cronos
• Ecofibre
• Green Thumb Industries
• Curaleaf Holdings

Industrial Hemp Market Insights

Lucintel forecasts that hemp seed will remain the largest segment over the forecast period due to high nutrition ratio.

Within this market, food & beverage will remain the largest segment due to increasing demand for plant-based protein.

APAC is expected to witness highest growth over the forecast period due to on-going technological advancements and rising consumption of hemp-based food products and supplementsin the region.

Features of the Global Industrial Hemp Market

Market Size Estimates: Industrial hemp market size estimation in terms of value ($B).

Trend and Forecast Analysis: Market trends (2018 to 2023) and forecast (2024 to 2030) by various segments and regions.

Segmentation Analysis: Industrial hemp market size by type, source, application, and region in terms of value ($B).

Regional Analysis: Industrial hemp market breakdown by North America, Europe, Asia Pacific, and Rest of the World.

Growth Opportunities: Analysis of growth opportunities in different types, sources, applications, and regions for the industrial hemp market.

Strategic Analysis: This includes M&A, new product development, and competitive landscape of the industrial hemp market.

Analysis of competitive intensity of the industry based on Porter's Five Forces model.

FAQ

Q1. What is the industrial hemp market size?

Answer: The global industrial hemp market is expected to reach an estimated $24.97 billion by 2030.

Q2. What is the growth forecast for industrial hemp market?

Answer: The global industrial hemp market is expected to grow with a CAGR of 21.2% from 2024 to 2030.

Q3. What are the major drivers influencing the growth of the industrial hemp market?

Answer: The major drivers for this market are rising legalization of industrial hemp cultivation, increasing use of hemp seed and hemp seed oil in food applications and increasing incidence of chronic diseases.

Q4. What are the major segments for industrial hemp market?

Answer: The future of the industrial hemp market looks promising with opportunities in the food & beverage, textile, pharmaceutical, personal care product, animal nutrition, and paper markets.

Q5. Who are the key industrial hemp market companies?

Answer: Some of the key industrial hemp companies are as follows.

• Marijuana
• Cronos
• Ecofibre
• Green Thumb Industries
• Curaleaf Holdings

Q6. Which industrial hemp market segment will be the largest in future?

Answer: Lucintel forecasts that hemp seed will remain the largest segment over the forecast period due to high nutrition ratio.

Q7. In industrial hemp market, which region is expected to be the largest in next 5 years?

Answer: APAC is expected to witness highest growth over the forecast period due to on-going technological advancements and rising consumption of hemp-based food products and supplementsin the region.

Q.8 Do we receive customization in this report?

Answer: Yes, Lucintel provides 10% customization without any additional cost.

This report answers following 11 key questions:

• Q.1. What are some of the most promising, high-growth opportunities for the industrial hemp market by type (hemp seed, hemp seed oil, CBD hemp oil, hemp bast, and hemp hurd), source (conventional and organic), application (food & beverages, textiles, pharmaceuticals, personal care products, animal nutrition, paper, and others), and region (North America, Europe, Asia Pacific, and the Rest of the World)?
• Q.2. Which segments will grow at a faster pace and why?
• Q.3. Which region will grow at a faster pace and why?
• Q.4. What are the key factors affecting market dynamics? What are the key challenges and business risks in this market?
• Q.5. What are the business risks and competitive threats in this market?
• Q.6. What are the emerging trends in this market and the reasons behind them?
• Q.7. What are some of the changing demands of customers in the market?
• Q.8. What are the new developments in the market? Which companies are leading these developments?
• Q.9. Who are the major players in this market? What strategic initiatives are key players pursuing for business growth?
• Q.10. What are some of the competing products in this market and how big of a threat do they pose for loss of market share by material or product substitution?
• Q.11. What M&A activity has occurred in the last 5 years and what has its impact been on the industry?