Global Industrial Hemp Market — Opportunities & Forecast, 2019–2026

Hemp is a plant species derived from Cannabis (Marijuana) generally utilized in the industries related to food & beverages, personal care products, textiles, biodegradable plastics, paint, insulation, biofuel, food, and animal feed and pharmaceuticals. Hemp constitutes a proactive component tetrahydrocannabinol (THC) and higher concentrations of cannabidiol (CBD) enables to eliminates its psychoactive effects.
Major factors such as increasing popularity as well as demand for industrial hemp among the consumers with easy accessibility will boost the Global Industrial Hemp Market. Besides, rising health & wellness concerns coupled with hectic lifestyles and persists to change in food habits which will surge the Global Industrial Hemp Market. Also, higher usage in terms of the functional properties of Hemp Seed Oil, Hemp Seed and different allied sectors of the food and beverages will bolster the Global Industrial Hemp Market. Moreover, rising legalization about the industrial hemp which will boost the Global Industrial Hemp Market. Besides, the manufacturers are delivering technological intervention in terms of new product expansion and huge investment in R&D particularly in developing countries like Germany and Netherlands which will boost the Global Industrial Hemp Market. However, lack of efficient equipment’s as well as processing facilities will be a key restraint for the Global Industrial Hemp Market.
The Europe region is expected to have highest market share due to increase in the demand amongst consumer base particularly for food, beverages, dietary supplements, and personal care products which will drive the growth of the Global Industrial Hemp Market. In addition, the market growth is driven by increasing the usage of the hemp fibre in varied range of the applications such as construction and automobiles in the market. Moreover, the leading manufacturers in Germany, Netherlands and Spain are delivering more export-oriented product expansion coupled with technological intervention, Hemp in food & beverages and well-established distribution channel management which will surge the Global Industrial Hemp Market.
Various notable players operating in the market, include Hempco, Hemp Inc., Konoplex Group, Ecofibre, GenCanna, Colorado Hemp Works, Canah International, Plains Industrial Hemp Processing, HempFlax BV, Dun Agro among others. Main key players are focussing to agreements, new product development, capacity extension and nutritional values in end-products.
The Global Industrial Hemp Market has been segmented based on Source, Type, Application, and key geographies. Based on Source, the market is segmented Organic and Conventional. On the basis of Type, the market is categorized into Hemp Seed, Hemp Seed Oil, Hemp Fiber, and CBD Hemp Oil. Based on Application, the market is segmented Food, Beverages, Personal Care Products, Textiles, and Pharmaceuticals.
Key questions answered in this research report:
• At what pace is Global Industrial Hemp Market growing? What will be the growth trend in the future?
• What are the key drivers and restraints in the current market? What will be the impact of drivers and restraints in the future?
• What is the regional revenue and forecast breakdowns? Which are the major regional revenue pockets for growth in the Global Industrial Hemp Market?
• What are the various application areas and how they are poised to grow?
For Additional Insights, Click to Access Complete Report - https://www.gmiresearch.com/report/global-industrial-hemp-market/
About GMI Research
GMI Research is a market research and consulting firm which provides research-based solutions to business executives and investment professionals so that they can make right business & investment decisions faster based on real facts. We help business leaders through independent fact-based insight, ensuring their business achieve success by beating the competition. GMI Research’s leadership team with extensive experience in research and consulting together with our research and domain expertise creates a strong value proposition to create solutions that addresses our client’s business problems and add significant value to long lasting relationship.
The company provides syndicated research report, customized research, sales enablement research, data analytics and KPO (knowledge process outsourcing) service for Electronics & Semiconductors, Information Communication and Technology, Energy & Power, Healthcare, Automotive, Transportation & Logistics and Chemical industries. Our analysts and consultants who are passionate about research and consulting are recruited from renowned local and global universities and have worked with the leading local and international organizations.
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