Global Industrial Hemp Market Growth 2023-2029

Global Industrial Hemp Market Growth 2023-2029

Product Code:460687

Published Date: Feb 08,2023

Pages: 111

Region: Global

Category: Agriculture

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Industrial hemp is a variety of the Cannabis sativa plant species that is grown specifically for industrial use. It can be used to make a wide range of products. Along with bamboo, hemp is one of the fastest growing plant on Earth. It was also one of the first plants to be spun into usable fiber 50,000 years ago. It can be refined into a variety of commercial items, including paper, rope, textiles, clothing, biodegradable plastics, paint, insulation, biofuel, food, and animal feed.

LPI (LP Information)' newest research report, the “Industrial Hemp Industry Forecast” looks at past sales and reviews total world Industrial Hemp sales in 2022, providing a comprehensive analysis by region and market sector of projected Industrial Hemp sales for 2023 through 2029. With Industrial Hemp sales broken down by region, market sector and sub-sector, this report provides a detailed analysis in US$ millions of the world Industrial Hemp industry.

This Insight Report provides a comprehensive analysis of the global Industrial Hemp landscape and highlights key trends related to product segmentation, company formation, revenue, and market share, latest development, and M&A activity. This report also analyzes the strategies of leading global companies with a focus on Industrial Hemp portfolios and capabilities, market entry strategies, market positions, and geographic footprints, to better understand these firms' unique position in an accelerating global Industrial Hemp market.

This Insight Report evaluates the key market trends, drivers, and affecting factors shaping the global outlook for Industrial Hemp and breaks down the forecast by type, by application, geography, and market size to highlight emerging pockets of opportunity. With a transparent methodology based on hundreds of bottom-up qualitative and quantitative market inputs, this study forecast offers a highly nuanced view of the current state and future trajectory in the global Industrial Hemp.

The global Industrial Hemp market size is projected to grow from US$ 1135.7 million in 2022 to US$ 3265.8 million in 2029; it is expected to grow at a CAGR of 3265.8 from 2023 to 2029.

Global industrial hemp key players include Canopy Growth Corporation, Charlotte's Web CBD, Aurora Cannabis, Folium Biosciences, Endoca, etc. Global top five manufacturers hold a share over 30%. North America is the largest market, with a share about 60%, followed by Europe, and Latin America, total have a share about 40 percent. In terms of product, CBD Oil is the largest segment, with a share over 75%. And in terms of application, the largest application is Medicine, followed by Food and Beverage, Cosmetics, etc.

This report presents a comprehensive overview, market shares, and growth opportunities of Industrial Hemp market by product type, application, key manufacturers and key regions and countries.

Market Segmentation:
Segmentation by type
    CBD Oil
    CBD Crystal

Segmentation by application
    Medical and Pharmaceutical
    Food and Beverage
    Cosmetics
    Other

This report also splits the market by region:
    Americas
        United States
        Canada
        Mexico
        Brazil
    APAC
        China
        Japan
        Korea
        Southeast Asia
        India
        Australia
    Europe
        Germany
        France
        UK
        Italy
        Russia
    Middle East & Africa
        Egypt
        South Africa
        Israel
        Turkey
        GCC Countries

The below companies that are profiled have been selected based on inputs gathered from primary experts and analyzing the company's coverage, product portfolio, its market penetration.
    Kazmira
    Medical Marijuana, Inc.
    Charlotte's Web CBD
    CV Sciences
    Folium Biosciences
    Endoca
    Aurora Cannabis
    Aphria
    Canopy Growth Corporation
    Manitoba Harvest
    Hankang (Yunnan) Biotechnology
    Yunnan Hansu Biotechnology
    Yunnan Hamusen Biology
    Kunming BiouNIO Biotechnology
    Asan Wuxing Biology
    Yunnan Yunxing Biotechnology
    Huayun Jinxin Biotechnology
    Yunma Biotechnology (Chenguang Biotechnology)

Key Questions Addressed in this Report
What is the 10-year outlook for the global Industrial Hemp market?
What factors are driving Industrial Hemp market growth, globally and by region?
Which technologies are poised for the fastest growth by market and region?
How do Industrial Hemp market opportunities vary by end market size?
How does Industrial Hemp break out type, application?
What are the influences of COVID-19 and Russia-Ukraine war?