The global industrial hemp market is anticipated to grow at a significant CAGR of 17% during the forecast period. The increasing demand for dietary supplements with increasing consumer health awareness is one of the major factors adding to the growth of the industrial hemp market. Hemp seed and hemp seed oil have several medicinal properties and potential for treating diseases such as tumors, diabetes, and chronic pain. Moreover, growing awareness regarding the dietary advantages of hemp is likely to come up as a prospective driver for the growth of the global industrial hemp market. Due to rising demand, key players in the market are manufacturing and introducing hemp-based products targeting health, mood, stress, strain, and anxiety. For instance, in December 2021, Amado Group launched a hemp seed oil capsule named Amaprai Hemp Seed Oil Plus. Apart from hemp seed oil, each capsule contains nine other oils, and with its omega 3,6,9, vitamin C, D, E, and K content, it claims to support the immune system, nerves, bone, and joint health and serves as an antioxidant.
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The COVID-19 pandemic impacted almost every industry including food, personal care, and pharmaceuticals. Similarly, a disorder in global supply chains and trade barriers across the globe consequently impacted the production of hemp-based products. Moreover, lockdown in many countries disrupted the retail sector and the consumers were willing to buy only necessary products. However, some key players in the industry experienced soaring demand for cannabidiol (CBD) products since the begging of the COVID-19 pandemic. For instance, Alphagreen Group Ltd. reported that more than 8 million Britons were buying CBD products, with spending exceeding $171.3 million in the first four months of 2020 alone.
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- Market Coverage
- Market number available for – 2022-2028
- Base year- 2021
- Forecast period- 2022-2028
- Segment Covered- By Source, By Product Type, By Applications
- Competitive Landscape- Archer Daniels Midland Co., Ingredion Inc., Kerry Group Plc, Cargill Inc., and others
Market Segmentation
Global Industrial Hemp Market by Type
- Hemp Seed
- Hemp Seed Oil
- Hemp Fiber
- CBD Hemp Oil
Global Industrial Hemp Market by Source
- Conventional
- Organic
Global Industrial Hemp Market by Application
- Food & Beverages
- Personal Care
- Textiles
- Pharmaceuticals
- Others (Animal Care, Construction Material)
Regional Analysis
- North America
- United States
- Canada
- Europe
- UK
- Germany
- Italy
- Spain
- France
- Rest of Europe
- Asia-Pacific
- China
- ndia
- Japan
- South Korea
- Rest of Asia-Pacific
- Rest of the World
Company Profiles
- Alphagreen Group Ltd.
- American Cannabis Co.
- AMERICAN HEMP LLC
- BAFA Hempfoods GmbH
- Blue Sky Hemp Ventures Ltd.
- Canah International S.r.l.
- Colorado Hemp Works, Inc.
- Dun Agro Hemp Group
- Fresh Hemp Foods Ltd.
- Hemp Bombs
- HEMPMEDS MEDICAMENTOS DO BRASIL LTDA
- Hemp Oil Canada
- HemPoland sp. z o.o.
- Industrial Hemp Manufacturing, LLC
- Marijuana Company of America, Inc.
- MH medical hemp GmbH
- North American Hemp & Grain Co. Ltd.
- Konoplex LLC
- Parkland Industrial Hemp Growers Co-op. Ltd.
- SOUTH HEMP TECNO S.R.L.
- Unrivaled Brands, Inc.
- Valley Bio Ltd.
- India Hemp & Co.
The Report Covers
- Market value data analysis of 2021 and forecast to 2028.
- Annualized market revenues ($ million) for each market segment.
- Country-wise analysis of major geographical regions.
- Key companies operating in the global industrial hemp market. Based on the availability of data, information related to new product launches, and relevant news is also available in the report.
- Analysis of business strategies by identifying the key market segments positioned for strong growth in the future.
- Analysis of market-entry and market expansion strategies.
- Competitive strategies by identifying ‘who-stands-where’ in the market.
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