Industrial Hemp Market Trends, Size, Outlook and Analysis 2023-2028

 IMARC Group, a leading market research company, has recently released a report titled “Industrial Hemp Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028.” The study provides a detailed analysis of the industry, including the global industrial hemp market share, size, trends, and growth forecasts. The report also includes competitor and regional analysis and highlights the latest advancements in the market.

How big is the industrial hemp market?

The global industrial hemp market size reached US$ 4.6 Billion in 2022. Looking forward, IMARC Group expects the market to reach US$ 11.6 Billion by 2028, exhibiting a growth rate (CAGR) of 16.47% during 2023-2028.

What is industrial hemp?

Industrial hemp is a type of cannabis sativa plant explicitly grown for industrial use. It is a rich source of carbohydrates, protein, essential fatty acids, vitamins, and trace elements. It is an environment-friendly, fast-growing plant used in a variety of products, including textiles, bioplastics, biofuel, food, and building materials. It is a sustainable and multipurpose crop that can be refined into various commercial items, including biodiesel, paper, clothing, textiles, rope, insulation, paint, food, milk, oil, hemp protein powder, and animal feed.

Currently, industrial hemp is largely used in the production of fabrics and textiles, nutritional supplements, construction materials, food and beverages, and personal care products.

What are the growth prospects and trends in the industrial hemp industry?

The increasing demand for hemp-based products, such as textiles and bioplastics, is one of the key factors driving the market growth. Additionally, governments of various nations have legalized hemp cultivation, which is creating a positive outlook for the market. Furthermore, the surging consumer awareness regarding the dietary benefits of hempseed and hempseed oil is accelerating the market growth.

https://www.google.com/url?sa=i&url=https%3A%2F%2Fwww.britannica.com%2Fplant%2Fhemp&psig=AOvVaw2VwkWTzMjU8oG0-OU5mVZW&ust=1687341485321000&source=images&cd=vfe&ved=0CBAQjRxqFwoTCMie24LL0f8CFQAAAAAdAAAAABAb


Apart from this, the increasing product application in the cosmetic industry to manufacture soaps, shampoos, bath gels, hand and body lotions, UV skin defenders, and massage oils made from hemp and the rapidly expanding automotive industry are boosting the market growth.

Get the Sample Report: https://www.imarcgroup.com/industrial-hemp-market/requestsample

Who are the key players operating in the industry?

The report covers the major market players including:

Industrial Hemp Key Companies: 

  • Aurora Cannabis
  • Boring Hemp Company
  • Ecofibre Limited
  • Hemp Inc
  • HempFlax Group B.V.
  • Hempro International GmbH
  • MH medical hemp GmbH
  • Parkland Industrial Hemp Growers Co-op. Ltd.
  • South Hemp Tecno srl
  • Valley Bio Limited

Explore the Full Report Description At: https://www.imarcgroup.com/industrial-hemp-market

Key Market Segmentation:

The report has segmented the global Industrial hemp market on the basis of type, source, application and region.

Breakup by Type:

  • Hemp Seed
  • Hemp Oil
  • Hemp Fiber
  • Others

Breakup by Source:

  • Conventional
  • Organic

Breakup by Application:

  • Food and Beverages
  • Textiles
  • Personal Care Products
  • Pharmaceuticals
  • Others

Breakup by Region:

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

Key Highlights of the Report:

  • Market Performance (2017-2022)
  • Market Outlook (2023-2028)
  • Market Trends
  • Market Drivers and Success Factors
  • Impact of COVID-19
  • Value Chain Analysis
  • Comprehensive mapping of the competitive landscape

If you need specific information that is not currently within the scope of the report, we will provide it to you as a part of the customization.

About Us:

IMARC Group is a leading market research company that offers management strategy and market research worldwide. We partner with clients in all sectors and regions to identify their highest-value opportunities, address their most critical challenges, and transform their businesses.

Our offerings include comprehensive market intelligence in the form of research reports, production cost reports, feasibility studies, and consulting services. Our team, which includes experienced researchers and analysts from various industries, is dedicated to providing high-quality data and insights to our clientele, ranging from small and medium businesses to Fortune 1000 corporations.

IMARC’s information products include major market, scientific, economic and technological developments for business leaders in pharmaceutical, industrial, and high technology organizations. Market forecasts and industry analysis for biotechnology, advanced materials, pharmaceuticals, food and beverage, travel and tourism, nanotechnology and novel processing methods are at the top of the company’s expertise.

Contact US

IMARC Group

134 N 4th St. Brooklyn, NY 11249, USA

USA: +1-631-791-1145 | Asia: +91-120-433-0800

Email: sales@imarcgroup.com

Follow us on Twitter: @imarcglobal

LinkedIn: https://www.linkedin.com/company/imarc-group/mycompany/

 

 

Comments

Post a Comment

Popular posts from this blog

Ace Your DBMS Viva and Interviews: Essential Questions and Answers for Freshers

  As a fresher stepping into the world of technical interviews and vivas, a strong understanding of Database Management Systems (DBMS) is crucial. DBMS plays a fundamental role in software development and data management, making it a popular topic during interviews and viva sessions. In this guide, we'll explore the essential DBMS concepts, common "DBMS viva questions and answers," and provide you with a comprehensive understanding to help you succeed. Understanding the Basics: Key Concepts in DBMS Before diving into the " DBMS viva questions and answers ," it’s important to have a solid grasp of the basics. DBMS is a software system that enables the creation, management, and manipulation of databases. It allows users to store, retrieve, and manage data efficiently. Common Basic DBMS Questions: What is a Database? Define DBMS. A database is a collection of organized data that can be easily accessed, managed, and updated. A Database Management System (DBMS) is so...
Read more

Understanding ACID Properties in DBMS: Ensuring Reliable Transactions

  In the world of database management systems (DBMS), ensuring data integrity and consistency is crucial, especially when dealing with complex transactions. Transactions in a DBMS involve multiple operations that must be executed in a reliable and predictable manner. This is where the ACID properties in DBMS come into play. ACID—an acronym for Atomicity, Consistency, Isolation, and Durability—defines a set of properties that ensure database transactions are processed reliably and maintain the integrity of the database. Understanding these properties is not only essential for database administrators and developers but is also a common topic in DBMS interview questions , highlighting its importance in the field. 1. What Are ACID Properties? ACID properties are fundamental principles that ensure the reliability of transactions in a DBMS. A transaction in a database context is a sequence of operations performed as a single logical unit of work. The ACID properties in DBMS are designed...
Read more

Data Models in DBMS: An In-Depth Guide

  Introduction Data models in DBMS (Database Management Systems) are the foundational blueprints that define how data is stored, organized, and manipulated within a database. They serve as a framework for creating and maintaining databases, ensuring data integrity and optimizing storage efficiency. Data models play a crucial role in database design by representing the relationships between different data entities and facilitating seamless data management. Understanding the different types of data models in DBMS is essential for anyone involved in database administration, design, or development. This guide will explore the various data models, their characteristics, advantages, disadvantages, and use cases. Hierarchical Data Model The hierarchical data model is one of the earliest data models in DBMS, introduced in the 1960s. It organizes data in a tree-like structure, where each record has a single parent and one or more children, creating a parent-child hierarchy. Key Features an...
Read more