Dublin, March 11, 2022 (GLOBE NEWSWIRE) -- The "Industrial Hemp Market Size, Share & Trends Analysis Report by Product (Seeds, Fiber, Shivs), by Application (Animal Care, Textiles, Personal Care), by Region (North America, APAC), and Segment Forecasts, 2022-2030" report has been added to ResearchAndMarkets.com's offering.
The global industrial hemp market size is expected to reach USD 16.75 billion by 2030, registering a CAGR of 16.8%
The rising product demand from industries, such as agriculture, textiles, personal care, recycling, furniture, food & beverage, paper, and construction materials, is projected to propel market growth. Hemp is increasingly being used in medicinal products and nutritional supplements.
The high nutritional values and beneficial fatty acid and protein profile of hemp are driving the demand for hemp products in the market. In addition, hemp oil is used in shampoos, soaps, lotions, bath gels, and other cosmetics, further benefiting the industry growth.
The strength to weight ratio, high tensile strength, and flexural strength of industrial hemp offer desired benefits in bio-composites for automotive parts, fiberboard, aerospace, and packaging. Furthermore, the product demand from the textile, paper, and building materials markets is growing on account of its favorable acoustic and aesthetic properties.
The rising demand for eco-friendly products in construction materials, fiberglass alternatives, thermal insulation, and automotive products is expected to promote market growth.
The growing demand for technical products, such as varnishes, oil paints, fuel, solvents, chain-saw lubricants, printing inks, putty, and coatings, is expected to have a positive impact on the market growth.
Industrial Hemp Market Report Highlights
- The seeds product segment accounted for the maximum revenue share in 2021 owing to the increased product usage in nutritional supplements &medicinal and therapeutic products, such as pharmaceuticals.
- The product demand in the personal care industry is anticipated to grow at the fastest CAGR from 2022 to 2030 as it increases the skin's natural ability to retain moisture.
- The animal care segment also accounted for a significant revenue share in 2021 on account of the high demand for hemp shivs and leaves in animal bedding as their low dust properties make it highly preferable for animals having respiratory issues.
- The market for industrial hemp in North America is expected to grow at the fastest CAGR from 2022 to 2030 owing to the legalization of hemp production coupled with the technological advancements in harvesting and use of hemp fiber and hurds.
- Asian countries, such as China, have a significant tradition of hemp production and exports, which has allowed these countries to dominate the global market.
Key Topics Covered:
Chapter 1. Methodology and Scope
Chapter 2. Executive Summary
2.1. Market Outlook
2.2. Segmental Outlook
2.3. Competitive Insights
Chapter 3. Industrial Hemp Market Variables, Trends & Scope
3.1. Industrial Hemp-Market Segmentation
3.2. Penetration & Growth Prospect Mapping
3.3. Industry Value Chain Analysis
3.4. Manufacturing Process
3.5. Regulatory Framework
3.6. Industrial Hemp-Market Dynamics
3.7. Business Environment Analysis: Industrial Hemp Market
3.7.1. Porter's Analysis
3.7.2. PESTEL Analysis
Chapter 4. Industrial Hemp Market: Product Estimates & Trend Analysis
4.1. Industrial Hemp Market: Product Movement Analysis, 2021 & 2030
4.2. Seeds
4.2.1. Market Estimates and Forecasts, 2017-2030 (Tons) (USD Million)
4.3. Fiber
4.4. Shivs
Chapter 5. Industrial Hemp Market: Application Estimates & Trend Analysis
5.1. Industrial Hemp Market: Application Movement Analysis, 2021 & 2030
5.2. Animal Care
5.2.1. Market Estimates and Forecasts, 2017-2030 (Tons) (USD Million)
5.3. Textiles
5.4. Automotive
5.5. Furniture
5.6. Food & Beverages
5.7. Paper
5.8. Construction Materials
5.9. Personal Care
Chapter 6. Industrial Hemp Market: Regional Estimates & Trend Analysis
6.1. Industrial Hemp Market: Regional Movement Analysis, 2021 & 208
Chapter 7. Competitive Landscape
7.1. Competitive Landscape
7.2. Vendor Landscape
7.3. Competitive Environment
7.4. Competitive Market Positioning
7.5. Strategy Framework
7.6. Heat Map Analysis
7.7. List of Key Companies
Chapter 8. Company Profiles
8.1. Company overview
8.2. Financial performance
8.3. Product benchmarking
8.4. Strategic Initiatives
- Parkland Industrial Hemp Growers Cooperative Ltd. (Pihg)
- Cbd Biotechnology Co. Ltd.
- Botanical Genetics, LLC
- Marijuana Company of America Inc.
- Hempmedsbrasil
- Terra Tech Corp
- American Cannabis Company, Inc.
- Hempflax B.V.
- Industrial Hemp Manufacturing, LLC
- American Hemp
- Hemp, Inc.
- Boring Hemp Company
- Plains Industrial Hemp Processing Ltd.
- Ecofiber
- Valley Bio Limited
For more information about this report visit https://www.researchandmarkets.com/r/type33
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