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Pulished Date January, 2021
ID: 10731
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Global Industrial Hemp Market Size, Share, Trends, COVID-19 Impact & Growth Analysis Report - Segmented By Type, Application and Region (North America, Europe, Asia-Pacific, Latin America, Middle East, and Africa) - Industry Forecast (2021 to 2026)

Pulished: January, 2021
ID: 10731
Pages: 190

Industrial Hemp Market Size (2021 to 2026)

The global industrial hemp market size is forecasted to worth USD 18.87 Billion by 2026 and USD 6.13 billion in 2021, growing at a CAGR of 25.2% from 2021 to 2026.

Hemp is one of the varieties of cannabis Sativa plant species that are specifically used in the industries. The hemp can be refined into paper, textiles, rope, paint, and many other commercial items. Around 10,000 years ago, industrial hemp plants were one of the earliest plants to be spun into usable fiber. This product has many applications in industries like food and beverage, animal feed, biofuel, and pharmaceuticals. It is known facts that hemp seeds can add value to the vegan diet.

MARKET DRIVERS:

Cultivation of industrial hemp has been legalized in many countries, which is a key factor for the global industrial hemp market to grow. Some of the government regulators like the Agricultural Act of 2014, Industrial Hemp Act 2017, U.S. and Drug Enforcement Agency (DEA) have regulated the use of tetrahydrocannabinol (THC) in consumption, processing, and distribution of hemp products.

Increasing awareness over the usage of the refined products of hemp and rising consumption of hemp-based products are propelling the demand of the market. Besides, industrial hemp-based products have many health benefits where is fuelling the growth rate of the market. A growing number of patients with epilepsy and other sleep disorders is also ascribed to boost up the demand of the market.

Key market participants are increasing the cultivation of hemp to level up the shares. In some countries, industrial hemp is illegal to cultivate. With the growing demand for the applications of these products across the world, the growth rate of the market is eventually increasing. Once the hemp plants are harvested, the crop yields high edible proteins and fibers. There are more than 50,000 product applications with industrial hemp, which is gearing up the market's demand to the extent. The rising prevalence of natural and organic products by the consumers is solely propelling the demand of the industrial hemp market. Pennsylvania Department of Agriculture has announced that it is lowering the permit fees and permitting hemp processors.

MARKET RESTRAINTS:

However, difficulty refining the end products from the crop is slowly degrading the market demand. Fluctuations in the availability of raw materials are also hampering the growth of the market. Along with this, some organizations are imposing stringent rules on industrial hemp cultivation. The high cost of maintenance is hindering the growth rate of the market. The dearth of skilled people in cultivating the crop, especially in developed countries, is a big challenging factor for market growth. Besides, strict rules by the government in approving the new product launches from the refined products are impeding the growth rate of the industrial hemp market.

COVID-19 Impact on the Industrial hemp market:

COVID-19 is a deadly disease that disrupted many lives in distinct ways. Since, WHO declared the COVID-19 as a pandemic, every sector has seen a downfall curve of the growth rate. Due to lockdown restrictions across the world in the first half of 2020, market players have seen a slow growth rate, but with the unlock guidelines, the market shares are surging enormously. There is an increase in the demand for industrial hemp applications across the world. The applications of hemp in pharmaceutical companies have surged the growth rate of the market during these times. As the refined product of the hemp is used in the manufacturing of medicines, the industrial hemp market demand has been increased tremendously.

REPORT COVERAGE:

REPORT METRIC

DETAILS

Market Size Available

2020 to 2026

Base Year

2020

Forecast Period

2021 to 2026

Segments Covered

Based on type, application, and region

Various Analyses Covered

Global, Regional & Country Level Analysis, Segment-Level Analysis, Drivers, Restraints, Opportunities, Challenges, PESTLE Analysis, Porter’s Five Forces Analysis, Competitive Landscape, Analyst Overview on Investment Opportunities

Regions Covered

North America, Europe, Asia Pacific, Latin America, Middle East & Africa

 

This research report on the global industrial hemp market has been segmented and sub-segmented based on the type, application, and region.

Industrial Hemp Market - By Type:

  • Hemp seed
  • Hemp seed oil
  • CBD hemp oil
  • Hemp fiber

Based on the type, the CBD hemp oil segment leads with the dominant shares of the market. Creating awareness of the advantages of natural products is a major factor for the segment to grow. Hemp seed oil is next in leading the dominant shares of the market with the increasing applications and the rising popularity of the refined products. Hemp seeds are very rich in fatty acids, omega-6, and omega-3. Due to these benefits, the demand for hemp seeds is elevating.

Industrial Hemp Market – By Application:

  • Food
    • Snacks & cereals
    • Soup, sauces, and seasonings
    • Bakery
    • Dairy & frozen desserts
    • Others (cold cereals, pasta, chocolate spreads, and pet food)
  • Beverages
    • Hot beverages
    • Sports & energy drinks
    • Ready to drink
    • Others (meal replacement drinks, beverage mixes, beverage concentrates, and juice drinks)
  • Personal care products
  • Textiles
  • Pharmaceuticals
  • Others (paper, automobiles, construction & materials, furniture, and pet food)

The food segment is ruling with the largest shares of the market for the past few years. Snacks & cereals sub-segment held a prominent share in 2020. Increasing the consumption of healthy food across the world is prompting the growth rate of the food segment. The personal care products segment is likely to have significant growth opportunities in the coming years.

Industrial Hemp Market – By Region:

  • North America
    • The U.S.
    • Canada
    • Rest of North America
  • Europe
    • UK
    • Germany
    • France
    • Spain
    • Italy
    • Poland
    • Czech Republic
    • Netherlands
    • Rest of EU
  • Asia Pacific
    • India
    • China
    • Japan
    • Australia
    • New Zealand
    • South Korea
    • Rest of Asia Pacific
  • Latin America
    • Mexico
    • Brazil
    • Argentina
    • Chile
    • Colombia
    • Rest of Latin America
  • Middle East
  • Africa

Geographically, the North American industrial hemp market was the market leader in the global market in 2019 and 2020 and forecasted to be remaining in the leading position throughout the forecast period. The presence of key players and the launch of new products in favor of the end-users are lucratively leveraging the growth rate of the market in this region. The United States and Canada are major contributors to the market growth. Increasing applications of hemp-based products in pharmaceuticals is elevating the demand of the market. Due to beneficial factors, hemp is used in many renewable forms, substantially fuelling the demand of the market. Support from the government bodies in regulating industrial hemp usage and approving hemp-based products greatly enhances the growth rate of the market.

Following North America, The European industrial hemp market is ruling the market shares due to the constant economic growth rate. Rising investments in the cultivation of hemp in several countries are escalating the growth rate of the market. Also, creating awareness among farmers over the cultivation of the hemp crop and an increasing number of producers all over the region are major factors attributed to fuel the demand of the market. The U.K. is gaining traction in leading the significant shares of the market. The increasing prevalence of quality food and beverages is leveling up the demand for the industrial hemp market.

The Asia Pacific industrial hemp market is all set to hit the highest CAGR in the near future. The increasing population and rising demand for quality food supply boost the demand of the market. Rising demand for the use of hemp seed oil in the developed countries is anticipated to prompt the growth rate of the industrial hemp market.

KEY MARKET PARTICIPANTS:

Some of the notable companies dominating the global industrial hemp market profiled in this report are Hempco, Ecofibre, Hemp Inc., Gencanna, Hempflax BV, Konoplex Group, Hemp Oil Canada, BAFA, Hemp Poland, Dun Agro, Colorado Hemp Works, Canah International, South Hemp Tecno, Plains Industrial Hemp Processing and MH Medical Hemp.

MAJOR HAPPENINGS IN THIS MARKET IN THE RECENT PAST:

  • In June 2020, Marijuana Company of America Inc. had signed an agreement with the White Lion Capital, LLC for USD 10 million. This is to expand the position of the company in the market.
  • In May 2019, GenCanna collaborated with Atlas Holdings (U.S.) to propel the integrated processing of hemp in the U.SU.S.
  • In January 2019, Hemp Inc and Hemp healthcare (U.S.U.S.) joined together to sell hemp-based products, which will increase the product portfolio of the companies.
  1. Introduction
    1. Market Definition
    2. Study Deliverables
    3. Base Currency, Base Year and Forecast Periods
    4. General Study Assumptions
  2. Research Methodology
    1. Introduction
    2. Research Phases
        1. Secondary Research
        2. Primary Research
        3. Econometric Modelling
        4. Expert Validation
    3. Analysis Design
    4. Study Timeline
  3. Overview
    1. Executive Summary
    2. Key Inferences
    3. New Developments
  4. Drivers, Restraints, Opportunities, and Challenges Analysis (DROC)
    1. Market Drivers
    2. Market Restraints
    3. Key Challenges
    4. Current Opportunities in the Market
  5. Market Segmentation
    1. By Type
      1. Hemp seed
      2. Hemp seed oil
      3. CBD hemp oil
      4. Hemp fiber
      5. Y-o-Y Growth Analysis, By Type
      6. Market Attractiveness Analysis, By Type
      7. Market Share Analysis, By Type
    2. By Application
      1. Food
        1. Snacks & cereals
        2. Soup, sauces, and seasonings
        3. Bakery
        4. Dairy & frozen desserts
        5. Others (cold cereals, pasta, chocolate spreads, and pet food)
      2. Beverages
        1. Hot beverages
        2. Sports & energy drinks
        3. Ready to drink
        4. Others (meal replacement drinks, beverage mixes, beverage concentrates, and juice drinks)
        5. Personal care products
        6. Textiles
        7. Pharmaceuticals
        8. Others (paper, automobiles, construction & materials, furniture, and pet food)
      3. Y-o-Y Growth Analysis, By Application
      4. Market Attractiveness Analysis, By Application
      5. Market Share Analysis, By Application
  6. Geographical Analysis
    1. Introduction    
      1. Regional Trends       
      2. Impact Analysis        
      3. Y-o-Y Growth Analysis            
        1. By Geographical Area
        2. By Type
        3. By End User
      4. Market Attractiveness Analysis          
        1. By Geographical Area
        2. By Type
        3. By End User
      5.          Market Share Analysis   
        1. By Geographical Area
        2. By Type
        3. By End User
    2. Asia-Pacific
      1. Introduction
      2. India
      3. China
      4. Japan
      5. South Korea
      6. Australia
      7. Rest of Asia-Pacific
  7. Strategic Analysis
    1. PESTLE analysis
      1. Political
      2. Economic
      3. Social
      4. Technological
      5. Legal
      6. Environmental
    2. Porter’s Five analysis
      1. Bargaining Power of Suppliers
      2. Bargaining Power of Consumers
      3. Threat of New Entrants
      4. Threat of Substitute Products and Services
      5. Competitive Rivalry within the Industry
  8. Market Leaders' Analysis
    1. Hempco
      1. Overview
      2. Product Analysis
      3. Strategic Evaluation and Operations
      4. Financial analysis
      5. Legal issues
      6. Recent Developments
      7. SWOT analysis
      8. Analyst View
    2. Ecofibre
    3. Hemp Inc.
    4. Gencanna
    5. Hempflax BV
    6. Konoplex Group
    7. Hemp Oil Canada
    8. BAFA
    9. Hemp Poland
    10. Dun Agro
    11. Colorado Hemp Works
    12. Canah International
    13. South Hemp Tecno
    14. Plains Industrial Hemp Processing
    15. MH Medical Hemp
  9. Competitive Landscape
    1. Merger and Acquisition Analysis
    2. Agreements, Collaborations and Joint Ventures
    3. New Product Launches
  10. Market Outlook and Investment Opportunities
  11. Appendix
    1. List of Tables
    2. List of Figures  
  • Global, regional and country-level analysis and forecasts of the study market; providing Insights on the major countries/regions in which this industry is blooming and to also identify the regions that are still untapped.
  • The segment-level analysis in terms of type and application along with market size forecasts and estimations to detect key areas of industry growth in detail.
  • Identification of key drivers, restraints, opportunities, and challenges (DROC) in the market and their impact on shifting market dynamics.
  • Study of the effect of exogenous and endogenous factors that affect the global market; which includes broadly demographic, economics, and political, among other macro-environmental factors presented in an extensive PESTLE Analysis.
  • Study the micro environment factors that determine the overall profitability of an Industry, using Porter’s five forces analysis for analysing the level of competition and business strategy development.
  • A comprehensive list of key market players along with their product portfolio, current strategic interests, key financial information, legal issues, SWOT analysis and analyst overview to study and sustain the market environment.
  • Competitive landscape analysis listing out the mergers, acquisitions, collaborations in the field along with new product launches, comparative financial studies and recent developments in the market by the major companies.
  • An executive summary, abridging the entire report in such a way that decision-making personnel can rapidly become acquainted with background information, concise analysis and main conclusions.
  • Expertly devised analyst overview along with Investment opportunities to provide both individuals and organizations a strong financial foothold in the market.
  1. Global Industrial Hemp Market, By Region, From 2021 to 2026 (USD Million)
  2. Global Industrial Hemp Market, By Type, From 2021 to 2026 (USD Million)
  3. Global Hemp seed Market, By Region, From 2021 to 2026 (USD Million)
  4. Global Hemp seed oil Market, By Region, From 2021 to 2026 (USD Million)
  5. Global CBD hemp oil Market, By Region, From 2021 to 2026 (USD Million)
  6. Global Hemp fiber Market, By Region, From 2021 to 2026 (USD Million)
  7. Global Industrial Hemp Market, By Application, From 2021 to 2026 (USD Million)
  8. Global Food Market, By Region, From 2021 to 2026 (USD Million)
  9. Global Beverages Market, By Region, From 2021 to 2026 (USD Million)
  10. Global Personal care products Market, By Region, From 2021 to 2026 (USD Million)
  11. Global Textiles Market, By Region, From 2021 to 2026 (USD Million)
  12. Global Pharmaceuticals Market, By Region, From 2021 to 2026 (USD Million)
  13. Global Others (paper, automobiles, construction & materials, furniture, and pet food) Market, By Region, From 2021 to 2026 (USD Million)
  14. North America Industrial Hemp Market, By Type, From 2021 to 2026 (USD Million)
  15. North America Hemp seed Market, By Region, From 2021 to 2026 (USD Million)
  16. North America Hemp seed oil Market, By Region, From 2021 to 2026 (USD Million)
  17. North America CBD hemp oil Market, By Region, From 2021 to 2026 (USD Million)
  18. North America Hemp fiber Market, By Region, From 2021 to 2026 (USD Million)
  19. North America Industrial Hemp Market, By Application, From 2021 to 2026 (USD Million)
  20. North America Food Market, By Region, From 2021 to 2026 (USD Million)
  21. North America Beverages Market, By Region, From 2021 to 2026 (USD Million)
  22. North America Personal care products Market, By Region, From 2021 to 2026 (USD Million)
  23. North America Textiles Market, By Region, From 2021 to 2026 (USD Million)
  24. North America Pharmaceuticals Market, By Region, From 2021 to 2026 (USD Million)
  25. North America Others (paper, automobiles, construction & materials, furniture, and pet food) Market, By Region, From 2021 to 2026 (USD Million)
  26. United States Industrial Hemp Market, By Type, From 2021 to 2026 (USD Million)
  27. United States Industrial Hemp Market, By Application, From 2021 to 2026 (USD Million)
  28. Canada Industrial Hemp Market, By Type, From 2021 to 2026 (USD Million)
  29. Canada Industrial Hemp Market, By Application, From 2021 to 2026 (USD Million)
  30. Europe Industrial Hemp Market, By Type, From 2021 to 2026 (USD Million)
  31. Europe Hemp seed Market, By Region, From 2021 to 2026 (USD Million)
  32. Europe Hemp seed oil Market, By Region, From 2021 to 2026 (USD Million)
  33. Europe CBD hemp oil Market, By Region, From 2021 to 2026 (USD Million)
  34. Europe Hemp fiber Market, By Region, From 2021 to 2026 (USD Million)
  35. Europe Industrial Hemp Market, By Application, From 2021 to 2026 (USD Million)
  36. Europe Food Market, By Region, From 2021 to 2026 (USD Million)
  37. Europe Beverages Market, By Region, From 2021 to 2026 (USD Million)
  38. Europe Personal care products Market, By Region, From 2021 to 2026 (USD Million)
  39. Europe Textiles Market, By Region, From 2021 to 2026 (USD Million)
  40. Europe Pharmaceuticals Market, By Region, From 2021 to 2026 (USD Million)
  41. Europe Others (paper, automobiles, construction & materials, furniture, and pet food) Market, By Region, From 2021 to 2026 (USD Million)
  42. U.K. Industrial Hemp Market, By Type, From 2021 to 2026 (USD Million)
  43. U.K. Industrial Hemp Market, By Application, From 2021 to 2026 (USD Million)
  44. Germany Industrial Hemp Market, By Type, From 2021 to 2026 (USD Million)
  45. Germany Industrial Hemp Market, By Application, From 2021 to 2026 (USD Million)
  46. France Industrial Hemp Market, By Type, From 2021 to 2026 (USD Million)
  47. France Industrial Hemp Market, By Application, From 2021 to 2026 (USD Million)
  48. Italy Industrial Hemp Market, By Type, From 2021 to 2026 (USD Million)
  49. Italy Industrial Hemp Market, By Application, From 2021 to 2026 (USD Million)
  50. Spain Industrial Hemp Market, By Type, From 2021 to 2026 (USD Million)
  51. Spain Industrial Hemp Market, By Application, From 2021 to 2026 (USD Million)
  52. Asia Pacific Industrial Hemp Market, By Type, From 2021 to 2026 (USD Million)
  53. Asia Pacific Hemp seed Market, By Region, From 2021 to 2026 (USD Million)
  54. Asia Pacific Hemp seed oil Market, By Region, From 2021 to 2026 (USD Million)
  55. Asia Pacific CBD hemp oil Market, By Region, From 2021 to 2026 (USD Million)
  56. Asia Pacific Hemp fiber Market, By Region, From 2021 to 2026 (USD Million)
  57. Asia Pacific Industrial Hemp Market, By Application, From 2021 to 2026 (USD Million)
  58. Asia Pacific Food Market, By Region, From 2021 to 2026 (USD Million)
  59. Asia Pacific Beverages Market, By Region, From 2021 to 2026 (USD Million)
  60. Asia Pacific Personal care products Market, By Region, From 2021 to 2026 (USD Million)
  61. Asia Pacific Textiles Market, By Region, From 2021 to 2026 (USD Million)
  62. Asia Pacific Pharmaceuticals Market, By Region, From 2021 to 2026 (USD Million)
  63. Asia Pacific Others (paper, automobiles, construction & materials, furniture, and pet food) Market, By Region, From 2021 to 2026 (USD Million)
  64. Japan Industrial Hemp Market, By Type, From 2021 to 2026 (USD Million)
  65. Japan Industrial Hemp Market, By Application, From 2021 to 2026 (USD Million)
  66. China Industrial Hemp Market, By Type, From 2021 to 2026 (USD Million)
  67. China Industrial Hemp Market, By Application, From 2021 to 2026 (USD Million)
  68. India Industrial Hemp Market, By Type, From 2021 to 2026 (USD Million)
  69. India Industrial Hemp Market, By Application, From 2021 to 2026 (USD Million)
  70. Australia Industrial Hemp Market, By Type, From 2021 to 2026 (USD Million)
  71. Australia Industrial Hemp Market, By Application, From 2021 to 2026 (USD Million)
  72. South Korea Industrial Hemp Market, By Type, From 2021 to 2026 (USD Million)
  73. South Korea Industrial Hemp Market, By Application, From 2021 to 2026 (USD Million)
  74. Latin America Industrial Hemp Market, By Type, From 2021 to 2026 (USD Million)
  75. Latin America Hemp seed Market, By Region, From 2021 to 2026 (USD Million)
  76. Latin America Hemp seed oil Market, By Region, From 2021 to 2026 (USD Million)
  77. Latin America CBD hemp oil Market, By Region, From 2021 to 2026 (USD Million)
  78. Latin America Hemp fiber Market, By Region, From 2021 to 2026 (USD Million)
  79. Latin America Industrial Hemp Market, By Application, From 2021 to 2026 (USD Million)
  80. Latin America Food Market, By Region, From 2021 to 2026 (USD Million)
  81. Latin America Beverages Market, By Region, From 2021 to 2026 (USD Million)
  82. Latin America Personal care products Market, By Region, From 2021 to 2026 (USD Million)
  83. Latin America Textiles Market, By Region, From 2021 to 2026 (USD Million)
  84. Latin America Pharmaceuticals Market, By Region, From 2021 to 2026 (USD Million)
  85. Latin America Others (paper, automobiles, construction & materials, furniture, and pet food) Market, By Region, From 2021 to 2026 (USD Million)
  86. Brazil Industrial Hemp Market, By Type, From 2021 to 2026 (USD Million)
  87. Brazil Industrial Hemp Market, By Application, From 2021 to 2026 (USD Million)
  88. Argentina Industrial Hemp Market, By Type, From 2021 to 2026 (USD Million)
  89. Argentina Industrial Hemp Market, By Application, From 2021 to 2026 (USD Million)
  90. Mexico Industrial Hemp Market, By Type, From 2021 to 2026 (USD Million)
  91. Mexico Industrial Hemp Market, By Application, From 2021 to 2026 (USD Million)
  92. Rest of Latin America Industrial Hemp Market, By Type, From 2021 to 2026 (USD Million)
  93. Rest of Latin America Industrial Hemp Market, By Application, From 2021 to 2026 (USD Million)
  94. Middle East and Africa Industrial Hemp Market, By Type, From 2021 to 2026 (USD Million)
  95. Middle East and Africa Hemp seed Market, By Region, From 2021 to 2026 (USD Million)
  96. Middle East and Africa Hemp seed oil Market, By Region, From 2021 to 2026 (USD Million)
  97. Middle East and Africa CBD hemp oil Market, By Region, From 2021 to 2026 (USD Million)
  98. Middle East and Africa Hemp fiber Market, By Region, From 2021 to 2026 (USD Million)
  99. Middle East and Africa Industrial Hemp Market, By Application, From 2021 to 2026 (USD Million)
  100. Middle East and Africa Food Market, By Region, From 2021 to 2026 (USD Million)
  101. Middle East and Africa Beverages Market, By Region, From 2021 to 2026 (USD Million)
  102. Middle East and Africa Personal care products Market, By Region, From 2021 to 2026 (USD Million)
  103. Middle East and Africa Textiles Market, By Region, From 2021 to 2026 (USD Million)
  104. Middle East and Africa Pharmaceuticals Market, By Region, From 2021 to 2026 (USD Million)
  105. Middle East and Africa Others (paper, automobiles, construction & materials, furniture, and pet food) Market, By Region, From 2021 to 2026 (USD Million)
  106. Middle East Industrial Hemp Market, By Type, From 2021 to 2026 (USD Million)
  107. Middle East Industrial Hemp Market, By Application, From 2021 to 2026 (USD Million)
  108. Africa Industrial Hemp Market, By Type, From 2021 to 2026 (USD Million)
  109. Africa Industrial Hemp Market, By Application, From 2021 to 2026 (USD Million)

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