Industrial Hemp Market by Type (Hemp Seed, Hemp Seed Oil, Hemp Fiber, and CBD Hemp Oil), Application (Food, Beverages, Personal Care Products, Textiles, and Pharmaceuticals), Source (Organic and Conventional), and Region - Global Forecast to 2025
[132 Pages Report] The industrial hemp market is projected to grow from USD 4.6 billion in 2019 to USD 26.6 billion by 2025, recording a CAGR of 34.0% during the forecast period. This is attributed to the growing number of chronic diseases such as diabetes; increasing usage of hempseed oil & hemp seed in various food applications; rising usage of non-psychotropic cannabinoid cannabidiol (CBD)CBD hemp oil in food & pharmaceutical segment; and increasing legalization in the cultivation of industrial hemp.
Snacks & cereals estimated to account for the largest industrial hemp market share in 2019
The snacks & cereals segment in the food application is estimated to dominate the global market in 2019. Hemp is consumed as a breakfast cereal due to its nutrient-rich profile of essential fatty acids, which are needed for the proper functioning of the body. Furthermore, the growing demand for hemp snacks as post-exercise food, due to their high protein content, is expected to augment their sales in the coming years.
By type, the hemp fiber segment is projected to account for the largest market share during the forecast period.
The hemp fiber segment is projected to dominate the market during the forecast period. Hemp has two types of fibers: bast (outer long fibers) and hurds (inner short fibers). The bast fibers are divided further into two types: primary bast fibers, which are up to 50 mm long and contain approximately 50% to 70% cellulose and secondary bast fibers, which are about 2 mm long. Bast fibers can be spun and woven, and are thus, majorly used in the textile industry.
Hurds, the short fibers, are about 0.5 mm long, constituting 70% to 80% of the hemp stalk. These find application in building construction, animal bedding, agriculture, furniture, and automobile industries. Growing awareness about the use of hemp fibers as a renewable source to produce biofuels and bioplastics is expected to drive their demand, globally.
The conventional source segment in the industrial hemp market is estimated to dominate the market.
The conventional source segment dominated the industrial market as they are cheaper than organic hemp products. Furthermore, despite the lack of certification, conventionally grown hemp is rich in vitamins and other essential fatty acids.
Europe is projected to account for the share of the industrial hemp market during the forecast period.
The European market is projected to capture the largest share in the market. This is attributed to the presence of a large consumer base for food, beverages, dietary supplements, and personal care products. Further, the usage of hemp fiber is growing in different applications, such as automotive and construction materials. Increasing consumption of hemp seeds in food and other food products such as smoothies, yogurt, cereals, and bars is expected to bolster the growth of the market further. The demand for hemp in the form of these products is considerably high in countries such as Germany and the Netherlands, thus, driving the regional market growth.
Key Market Players
The key vendors in the global industrial hemp market include Hempco (Canada), Ecofibre (Australia), Hemp Inc. (US), GenCanna (US), HempFlax BV (Netherlands), Konoplex Group (Russia), Hemp Oil Canada (Canada), BAFA (Germany), Hemp Poland (Poland), Dun Agro (Netherlands), Colorado Hemp Works (US), Canah International (Romania), South Hemp Tecno (Italy), Plains Industrial Hemp Processing (Canada), and MH Medical Hemp (Germany). These players have broad industry coverage and strong operational & financial strength.
Scope of the Report
|
Report Metric |
Details |
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Market size available for years |
20172025 |
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Base year considered |
2018 |
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Forecast period |
20192025 |
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Forecast units |
Value (USD Million) and Volume (Tons) |
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Segments covered |
Type, Application, Source, and Region |
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Geographies covered |
North America, Europe, Asia Pacific, and RoW |
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Companies covered |
Hempco (Canada), Ecofibre (Australia), Hemp Inc. (US), GenCanna (US), HempFlax BV (Netherlands), Konoplex Group (Russia), Hemp Oil Canada (Canada), BAFA (Germany), Hemp Poland (Poland), Dun Agro (Netherlands), Colorado Hemp Works (US), Canah International (Romania), South Hemp Tecno (Italy), Plains Industrial Hemp Processing (Canada), and MH Medical Hemp (Germany), |
This research report categorizes the industrial hemp market based on type, application, source, and region.
Based on Type, the market has been segmented as follows:
- Hemp seed
- Hemp seed oil
- CBD hemp oil
- Hemp fiber
Based on Application, the industrial hemp market has been segmented as follows:
- Food
- Snacks & cereals
- Soup, sauces, and seasonings
- Bakery
- Diary & 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)
Based on the Source, the market has been segmented as follows:
- Organic
- Conventional
Based on the Region, the industrial hemp market has been segmented as follows:
- North America
- Europe
- Asia Pacific
- RoW (South America, Africa, and the Middle East)
Recent Developments:
- In May 2019, GenCanna and Atalo Holdings entered into the strategic partnership to build vertically integrated hemp processing and distribution facility in Kentucky.
- In May 2019, GenCanna and Thar Process entered into a partnership to introduce the new CO2 hemp extraction technology into the market.
- In January 2019, Hemp Inc. entered into a joint venture with Hemp Healthcare to sell high-end CBD and hemp-based products, which would increase the companys presence in Arizona.
- In June 2018, Hemp Inc. entered into a joint venture with HQ Global Education Inc., to plant 50 acres of industrial hemp. This has helped the company to build the worlds largest hemp oil extraction facility.
- In March 2018, Hempco signed a distribution agreement with Kane Veterinary supplies to supply its hemp-based animal supplements for pets and equine. This has helped the company to capture the growing hemp-based animal health market.
Key questions addressed by the report:
- Who are the major market players in the global market?
- What are the regional growth trends and the largest revenue-generating regions for the industrial hemp market?
- What are the key regions and industries that are projected to witness significant growth in the industrial hemp market?
- What are the major types of industrial hemp that are projected to gain maximum market revenue and share during the forecast period?
- Which are the major applications of industrial hemp and which application is projected to account for the majority of the revenue generated over the forecast period?
To speak to our analyst for a discussion on the above findings, click Speak to Analyst
Table of Contents
1 Introduction (Page No. - 15)
1.1 Objectives of the Study
1.2 Market Definition
1.3 Study Scope
1.4 Periodization Considered for the Study
1.5 Currency Considered
1.6 Volume Unit Considered
1.7 Stakeholders
2 Research Methodology (Page No. - 19)
2.1 Research Data
2.1.1 Secondary Data
2.1.1.1 Key Data From Secondary Sources
2.1.2 Primary Data
2.1.2.1 Key Data From Primary Sources
2.1.2.2 Breakdown of Primaries
2.2 Market Size Estimation
2.2.1 Bottom-Up Approach
2.3 Data Triangulation
2.4 Assumptions for the Study
2.5 Limitations of the Study
3 Executive Summary (Page No. - 26)
4 Premium Insights (Page No. - 30)
4.1 Attractive Opportunities in the Market
4.2 Industrial Hemp Market: Major Regional Submarkets
4.3 Asia Pacific: Industrial Hemp Market, By Key Type & Country
4.4 Market, By Type & Region
4.5 Market, By Application
4.6 Market, By Source & Region
5 Market Overview (Page No. - 35)
5.1 Introduction
5.2 Market Dynamics
5.2.1 Drivers
5.2.1.1 Increasing Legalization in the Cultivation of Industrial Hemp
5.2.1.2 Functional Properties of Hemp Seed and Hemp Seed Oil, and Their Increased Use in Different Food Applications
5.2.1.3 Increasing Number of Chronic Diseases
5.2.2 Restraints
5.2.2.1 Complex Regulatory Structure for the Usage of Industrial Hemp
5.2.3 Opportunity
5.2.3.1 New Product Developments From Industrial Hemp
5.2.4 Challenges
5.2.4.1 Lack of Viable Availability of Seeds for the Cultivation of Industrial Hemp
5.2.4.2 Lack of Processing Facilities and Planting & Harvesting Equipment
5.3 Value Chain
6 Regulatory Framework (Page No. - 42)
6.1 Regulations in North America
6.1.1 US
6.1.2 Canada
6.2 Regulation of Industrial Hemp in Europe
6.3 Regulation of Industrial Hemp in the Asia Pacific
6.3.1 Australia
6.3.2 India
7 Industrial Hemp Market, By Type (Page No. - 51)
7.1 Introduction
7.2 Hemp Seed
7.2.1 The High Nutrient Profile of Hemp Seeds is Expected to Drive Their Demand, Especially in the Food Industry
7.3 Hemp Seed Oil
7.3.1 Easy Processing Method and Low Cost of Hemp Oil Together With Its Varied Use in Diverse Industries
7.4 CBD Hemp Oil
7.4.1 Growing Application in Personal Care, Supplements, and Food & Beverages Products
7.5 Hemp Fiber
7.5.1 Increasing Use of Hemp Fiber for the Production of Biofuels, Bioplastics, and Construction Material
8 Industrial Hemp Market, By Application (Page No. - 56)
8.1 Introduction
8.2 Food
8.2.1 Snacks & Cereals
8.2.1.1 Growing Demand for Hemp Snacks Due to High Protein Content
8.2.2 Soups, Sauces, & Seasonings
8.2.2.1 Role of Hemp in Reducing the Risk of Cancer and Preventing Other Diseases
8.2.3 Bakery Products
8.2.3.1 Rising Awareness Among Consumers Driving the Demand for Hemp-Based Bakery Products
8.2.4 Dairy & Frozen Desserts
8.2.4.1 Gluten-, Dairy-, and Cholesterol-Free Hemp in Dairy & Frozen Products to Drive the Demand
8.2.5 Others
8.2.5.1 Rising Demand for Novel Hemp-Based Food Products
8.3 Textiles
8.3.1 Wide Benefits of Hemp to Drive Its Demand in Textiles
8.4 Beverages
8.4.1 Hot Beverages
8.4.1.1 Soothing Effects of Hemp Tea on the Human Body to Drive the Market for Hot Beverages
8.4.2 Sports & Energy Drinks
8.4.2.1 Growing Popularity of Plant-Infused Drinks
8.4.3 Ready-To-Drink Beverages
8.4.3.1 Rising Demand for Different Flavors of Ice Tea
8.4.4 Others
8.4.4.1 Increased R&D on Industrial Hemp for the Extraction of Juice
8.5 Personal Care Products
8.5.1 Effective Moisturizing and Anti-Aging Properties of Hemp are Expected to Drive Its Demand in Personal Care Products
8.6 Pharmaceuticals
8.6.1 Usage of CBD Hemp Oil in the Treatment of Seizures, Sleep Disorders, and Diseases
8.7 Others
8.7.1 Increased Usage of Hemp in the Construction and Automobile Industries
9 Industrial Hemp Market, By Source (Page No. - 65)
9.1 Introduction
9.2 Conventional
9.2.1 Low Prices of Conventional Hemp Seeds to Drive the Market
9.3 Organic
9.3.1 Increasing Demand for Organic Hemp Products in the Food and Pharmaceutical Industries
10 Industrial Hemp Market, By Region (Page No. - 68)
10.1 Introduction
10.2 North America
10.2.1 US
10.2.1.1 Increasing Legalization of Industrial Hemp Cultivation and Production in Several States to Drive the US Market
10.2.2 Canada
10.2.2.1 The Increasing Market Demand for HempDerived Products in Canada
10.2.3 Mexico
10.2.3.1 Legalization of Cultivating Industrial Hemp in the US is Projected to Reflect on the Market Growth Positively
10.3 Europe
10.3.1 Germany
10.3.1.1 Increasing Demand for Hemp-Based Food Products
10.3.2 France
10.3.2.1 Growing R&D for Novel Application of Hemp Fiber
10.3.3 Spain
10.3.3.1 Subsidies for Hemp Cultivation and Diverse Usage of Spanish Hemp in A Wide Range of Applications
10.3.4 Italy
10.3.4.1 Increased Manufacturing of Hemp Seeds for Human Consumption
10.3.5 Netherlands
10.3.5.1 Growing Application of Hemp in Automobile and Animal Bedding
10.3.6 Rest of Europe
10.3.6.1 Rising Cultivation and Utilization of Hemp in Food and Pharmaceutical Products
10.4 Asia Pacific
10.4.1 China
10.4.1.1 China is A Leading Producer of Hemp Fiber and Hemp Seed
10.4.2 Australia & New Zealand
10.4.2.1 Increase in R&D Activities By Food Companies to Introduce Hemp-Based Food Products
10.4.3 Japan
10.4.3.1 Consumers in Japan are More Inclined Toward Health-Related Products That Drive the Growth of Hemp Seed in Japan
10.4.4 India
10.4.4.1 Growth in the Number of Agricultural Training Programs to the Farmers to Spread Knowledge About Hemp
10.4.5 Rest of Asia Pacific
10.4.5.1 Increase in Inclination Toward the Usage of Hemp-Derived CBD Products
10.5 Rest of the World (RoW)
10.5.1 South America
10.5.1.1 The Government Regulations Introduced for Hemp in Countries Such as Chile and Uruguay is A Major Factor Contributing to the Growth of the Market
10.5.2 Middle East
10.5.2.1 Cultivation of Industrial Hemp in the Middle East is Still in the Nascent Stage of Development
10.5.3 Africa
10.5.3.1 South African Government is Focusing on Establishing Hemp Crops for Obtaining Various Benefits.
11 Competitive Landscape (Page No. - 101)
11.1 Introduction
11.2 Competitive Leadership Mapping
11.2.1 Visionary Leaders
11.2.2 Dynamic Differentiators
11.2.3 Innovators
11.2.4 Emerging Companies
11.3 Start-Up Microquadrant
11.3.1 Progressive Companies
11.3.2 Starting Blocks
11.3.3 Responsive Companies
11.3.4 Dynamic Companies
11.4 Prominent Market Players
11.5 Competitive Scenario
11.5.1 Expansions
11.5.2 Agreements, Joint Ventures, and Partnerships
12 Company Profiles (Page No. - 106)
(Business Overview, Products Offered, Recent Developments, SWOT Analysis & MnM View)*
12.1 Hempco
12.2 Ecofibre
12.3 Hemp Inc.
12.4 Gencanna
12.5 Hempflax BV
12.6 Konoplex Group
12.7 Hemp Oil Canada
12.8 BAFA
12.9 Hemp Poland
12.10 Dun Agro
12.11 Colorado Hemp Works
12.12 Canah International
12.13 South Hemp Tecno
12.14 Plains Industrial Hemp Processing
12.15 MH Medical Hemp
*Details on Business Overview, Products Offered, Recent Developments, SWOT Analysis & MnM View Might Not Be Captured in Case of Unlisted Companies.
13 Appendix (Page No. - 126)
13.1 Discussion Guide
13.2 Knowledge Store: Marketsandmarkets Subscription Portal
13.3 Available Customizations
13.4 Related Reports
13.5 Author Details
List of Tables (77 Tables)
Table 1 US Dollar Exchange Rates Considered, 20152018
Table 2 Market Snapshot, 2019 vs. 2025
Table 3 United States Statutes and Public Acts on Industrial Hemp Research and Cultivation
Table 4 Industrial Hemp Market Size, By Type, 20172025 (USD Million)
Table 5 Industrial Hemp Seed Market Size, By Region, 20172025 (USD Million)
Table 6 Industrial Hemp Seed Oil Market Size, By Region, 20172025 (USD Million)
Table 7 Industrial CBD Hemp Oil Market Size, By Region, 20172025 (USD Million)
Table 8 Industrial Hemp Fiber Market Size, By Region, 20172025 (USD Million)
Table 9 Industrial Hemp Market Size, By Application, 20172025 (USD Million)
Table 10 Food: Industrial Hemp Market Size, By Sub-Application, 20172025 (USD Million)
Table 11 Food: Market Size, By Region, 20172025 (USD Million)
Table 12 Textiles: By Market Size, By Region, 20172025 (USD Million)
Table 13 Beverages: Industrial Hemp Market Size, By Sub-Application, 20172025 (USD Million)
Table 14 Beverages: Market Size, By Region, 20172025 (USD Million)
Table 15 Personal Care Products: By Market Size, By Region, 20172025 (USD Million)
Table 16 Pharmaceuticals: Industrial Hemp Market Size, By Region, 20172025 (USD Million)
Table 17 Others: By Market Size, By Region, 20172025 (USD Million)
Table 18 Industrial Hemp Market Size, By Source, 20172025 (USD Million)
Table 19 Conventional Industrial Hemp Market Size, By Region, 20172025 (USD Million)
Table 20 Organic Industrial Hemp Market Size, By Region, 20172025 (USD Million)
Table 21 Industrial Hemp Market Size, By Region, 20172025 (USD Million)
Table 22 Market Size, By Region, 20172025 (Tons)
Table 23 North America: Industrial Hemp Market Size, By Country, 20172025 (USD Million)
Table 24 North America: By Market Size, By Country, 20172025 (Tons)
Table 25 North America: By Market Size, By Type, 20172025 (USD Million)
Table 26 North America: Hemp Fiber Market Size, By Country, 20172025 (USD Million)
Table 27 North America: Hemp Seed Market Size, By Country, 20172025 (USD Million)
Table 28 North America: Hemp Seed Oil Market Size, By Country, 20172025 (USD Million)
Table 29 North America: CBD Hemp Oil Market Size, By Country, 20172025 (USD Million)
Table 30 North America: By Market Size, By Source, 20172025 (USD Million)
Table 31 North America: Industrial Hemp Market Size, By Application, 20172025 (USD Million)
Table 32 US: Industrial Hemp Market Size, By Type, 20172025 (USD Million)
Table 33 Canada: Industrial Hemp Market Size, By Type, 20172025 (USD Million)
Table 34 Mexico: Industrial Hemp Market Size, By Type, 20172025 (USD Thousand)
Table 35 Europe: Industrial Hemp Market Size, By Country, 20172025 (USD Million)
Table 36 Europe: Market Size, By Country, 20172025 (Tons)
Table 37 Europe: Market Size, By Type, 20172025 (USD Million)
Table 38 Europe: Hemp Seed Oil Market Size, By Country, 20172025 (USD Million)
Table 39 Europe: Hemp Seed Market Size, By Country, 20172025 (USD Million)
Table 40 Europe: Hemp Fiber Market Size, By Country, 20172025 (USD Million)
Table 41 Europe: CBD Hemp Oil Market Size, By Country, 20172025 (USD Million)
Table 42 Europe: By Market Size, By Application, 20172025 (USD Million)
Table 43 Europe: Industrial Hemp Market Size, By Source, 20172025 (USD Million)
Table 44 Germany: Market Size, By Type, 20172025 (USD Million)
Table 45 France: Industrial Hemp Market Size, By Type, 20172025 (USD Million)
Table 46 Spain: Market Size, By Type, 20172025 (USD Million)
Table 47 Italy: Industrial Hemp Market Size, By Type, 20172025 (USD Million)
Table 48 Netherlands: Market Size, By Type, 20172025 (USD Million)
Table 49 Rest of Europe: Market Size, By Type, 20172025 (USD Million)
Table 50 Asia Pacific: Industrial Hemp Market Size, By Country/Region, 20172025 (USD Million)
Table 51 Asia Pacific: Market Size, By Country/Region, 20172025 (Ton)
Table 52 Asia Pacific: Market Size, By Type, 20172025 (USD Million)
Table 53 Asia Pacific: Hemp Fiber Market Size, By Country/Region, 20172025 (USD Million)
Table 54 Asia Pacific: Hemp Seed Market Size, By Country/Region, 20172025 (USD Million)
Table 55 Asia Pacific: Hemp Seed Oil Market Size, By Country/Region, 20172025 (USD Million)
Table 56 Asia Pacific: CBD Hemp Oil Market Size, By Country/Region, 20172025 (USD Million)
Table 57 Asia Pacific: Market Size, By Source, 20172025 (USD Million)
Table 58 Asia Pacific: Industrial Hemp Market Size, By Application, 20172025 (USD Million)
Table 59 China: By Market Size, By Type, 20172025 (USD Million)
Table 60 Australia & New Zealand: Industrial Hemp Market Size, By Type, 20172025 (USD Million)
Table 61 Japan: Industrial Hemp Market Size, By Type, 20172025 (USD Million)
Table 62 India: Market Size, By Type, 20172025 (USD Million)
Table 63 Rest of Asia Pacific: By Market Size, By Type, 20172025 (USD Million)
Table 64 RoW: Industrial Hemp Market Size, By Region, 20172025 (USD Million)
Table 65 RoW: Market Size, By Region, 20172025, By Volume (Tons)
Table 66 RoW: Market Size, By Type, 20172025 (USD Million)
Table 67 RoW: Hemp Seed Oil Market Size, By Region, 20172025 (USD Million)
Table 68 RoW: Hemp Seed Market Size, By Region, 20172025 (USD Million)
Table 69 RoW: Hemp Fiber Market Size, By Region, 20172025 (USD Million)
Table 70 RoW: CBD Hemp Oil Market Size, By Region, 20172025 (USD Million)
Table 71 RoW: Industrial Hemp Market Size, By Source, 20172025 (USD Million)
Table 72 RoW: Market Size, By Application, 20172025 (USD Million)
Table 73 South America: By Market Size, By Type, 20172025 (USD Million)
Table 74 Middle East: Industrial Hemp Market Size, By Type, 20172025 (USD Million)
Table 75 Africa: Industrial Hemp Market Size, By Type, 20172025 (USD Million)
Table 76 Expansions, 20142019
Table 77 Agreements, Joint Ventures, and Partnerships, 20142019
List of Figures (34 Figures)
Figure 1 Industrial Hemp Market Segmentation
Figure 2 Regions Covered
Figure 3 Research Design
Figure 4 Industrial Hemp Market: Bottom-Up Approach
Figure 5 Industrial Hemp Market: Top-Down Approach
Figure 6 Data Triangulation Methodology
Figure 7 Industrial Hemp Market Size, By Type, 2019 vs. 2025 (USD Million)
Figure 8 Market Size, By Application, 2019 vs. 2025 (USD Million)
Figure 9 Industrial Hemp Market Size, By Source, 2019 vs. 2025 (USD Million)
Figure 10 Industrial Hemp Market Share (Value), By Region, 2018
Figure 11 Increase in Legalization of Hemp Cultivation and Projected Boost in Consumption of Hemp in Various Industrial Applications
Figure 12 Germany is Projected to Grow At the Highest Cagr During the Forecast Period
Figure 13 China Accounted for the Largest Share in the Asia Pacific Market and Hemp Fiber Dominated, on the Basis of Type, in 2018
Figure 14 Asia Pacific Dominates the Estimated Market and Europe is Projected to Dominate the Market for Industrial Hemp Across All Type Segments
Figure 15 The Market for Industrial Hemp in Food Applications is Projected to Dominate During the Forecast Period
Figure 16 Asia Pacific Dominated the Conventional Source of Hemp in 2018
Figure 17 Industrial Hemp Market Dynamics
Figure 18 Industrial Hemp Market: Value Chain
Figure 19 US Industrial Hemp Regulatory Overview
Figure 20 Industrial Hemp Market Share, By Type, 2019 vs. 2025 (By Value)
Figure 21 Industrial Hemp Market Share, By Application, 2019 vs. 2025 (By Value)
Figure 22 Industrial Hemp Market Share, By Source, 2019 vs. 2025 (By Value)
Figure 23 Industrial Hemp Market Share (By Value), By Key Country, 2018
Figure 24 Europe: Industrial Hemp Market Snapshot
Figure 25 Asia Pacific: Industrial Hemp Market Snapshot
Figure 26 Industrial Hemp Market: Competitive Leadership Mapping, 2018
Figure 27 Industrial Hemp Startup Market: Competitive Leadership Mapping, 2018
Figure 28 Prominent Market Players in Different Regions
Figure 29 Hempco: Company Snapshot
Figure 30 Hempco: SWOT Analysis
Figure 31 Ecofibre: Company Snapshot
Figure 32 Ecofibre: SWOT Analysis
Figure 33 Hemp Inc: Company Snapshot
Figure 34 Hemp Inc.: SWOT Analysis
The study involved four major activities in estimating the current market size of the industrial hemp market. Exhaustive secondary research was done to collect information on the market as well as the parent market. The next step was to validate these findings, assumptions, and sizing with industry experts across the value chain through primary research. Both the top-down and bottom-up approaches were employed to estimate the complete market size. After that, market breakdown and data triangulation were used to estimate the market size of segments and subsegments.
Secondary Research
In the secondary research process, various sources were referred to, to identify and collect information for this study. These secondary sources included reports from the Food and Agriculture Organization (FAO), European Industrial Hemp Association (EIHA), Food and Drug Administration (FDA), European Food Safety Authority (EFSA), Canadian Hemp Trade Alliance (CHTA), National Hemp Association (NHA), and United States Department of Agriculture (USDA). The secondary sources also included annual reports, press releases, investor presentations of companies, white papers, certified publications, articles by recognized authors and regulatory bodies, trade directories, and databases.
Secondary research was mainly conducted to obtain key information about the industrys supply chain, the total pool of key players, market classification & segmentation according to industry trends to the bottom-most level, and geographical markets. It was also used to obtain information about the key developments from a market-oriented perspective.
Primary Research
The overall market comprises several stakeholders in the supply chain, which include hemp growers and hemp seed manufacturers. Various primary sources from both the supply and demand sides of the market were interviewed to obtain qualitative and quantitative information. The primary interviewees from the demand side include key opinion leaders, executives, vice presidents, and CEOs of the food, beverage, textile, personal care, and pharmaceutical industries. The primary sources from the supply side include research institutions involved in R&D, key opinion leaders, and hemp seeds and fiber processing companies.
To know about the assumptions considered for the study, download the pdf brochure
Market Size Estimation
Both the top-down and bottom-up approaches were used to estimate and validate the total size of the global market. These approaches were also used extensively to estimate the size of various subsegments in the market. The research methodology used to estimate the market size includes the following details:
- The key players were identified through extensive secondary research.
- The industrial hemp market size, in terms of value, were determined through primary and secondary research.
- All percentage share splits and breakdowns were determined using secondary sources and verified through primary sources.
- All the possible parameters that affect the market covered in this research study were accounted for, viewed in extensive detail, verified through primary research, and analyzed to obtain the final quantitative and qualitative data.
Data Triangulation
After arriving at the overall market size from the estimation process explained above, the total market was split into several segments and subsegments. The data triangulation and market breakdown procedures were employed to estimate the global market and arrive at the exact statistics for all segments and subsegments, wherever applicable. The data was triangulated by studying various factors and trends from the demand and supply sides. Along with this, the market size was validated using both the top-down and bottom-up approaches.
Report Objectives
- Determining and projecting the size of the industrial hemp market, with respect to type, application, source, and regional markets, over six years ranging from 2019 to 2025
- Identifying attractive opportunities in the market by determining the largest and fastest-growing segments across regions
- Providing detailed information about the key factors influencing the growth of the market (drivers, restraints, opportunities, and industry-specific challenges)
- Analyzing the micro-markets, with respect to individual growth trends, future prospects, and their contribution to the total market
- Identifying and profiling the key market players in this market
- Providing a comparative analysis of the market leaders based on the following parameters:
- Product offerings
- Business strategies
- Strengths and weaknesses
- Key financials
- Understanding the competitive landscape and identifying the major growth strategies adopted by players across the key regions
- Analyzing the value chain, products, and regulatory frameworks across key regions and their impact on the prominent market players
- Providing insights into key product innovations and investments in the industrial hemp market
Geographical Analysis
- Further breakdown of the Rest of Europe industrial hemp market, by key country
- Further breakdown of the industrial hemp market for food application by region
Company Information
- Analyses and profiling of additional market players (up to five)
- Triangulate with your Own Data
- Get Data as per your Format and Definition
- Gain a Deeper Dive on a Specific Application, Geography, Customer or Competitor
- Any level of Personalization
- What are the Known and Unknown Adjacencies Impacting the Industrial Hemp Market
- What will your New Revenue Sources be?
- Who will be your Top Customer; what will make them switch?
- Defend your Market Share or Win Competitors
- Get a Scorecard for Target Partners
Growth opportunities and latent adjacency in Industrial Hemp Market