Industrial Hemp Market

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

Report Code: FB 7182 Jun, 2019, by marketsandmarkets.com

[132 Pages Report] Industrial hemp is defined as “the plant Cannabis sativa L. and any part of such plant, whether growing or not, with a delta-9 tetrahydrocannabinol (THC) concentration of not more than 0.3% on a dry weight basis,” according to US Farm Bill 2014. Rising awareness among the consumers about the benefits of industrial hemp, increasing legalization to cultivate industrial hemp in many countries, and rising application of industrial hemp in diverse industries such as textile, pharmaceutical, food, beverage, personal care, construction & material, furniture, and paper is expected to drive the market for industrial hemp.

The industrial hemp market is projected to grow at a CAGR of 34% from USD 4.6 billion in 2019 to USD 26.6 billion by 2025. The growth of this market is attributed to the increased consumption of hemp-based products due to their various health benefits and increased incidences of diseases such as epilepsy and other sleep disorders. However, the complex regulatory structure for the usage of industrial hemp in different countries is expected to hinder the market growth of industrial hemp.

Industrial Hemp Market

By type, the hemp fiber segment is expected to dominate the market.

Hemp fiber dominated the market for industrial hemp, by type, in terms of value, in 2018. Hemp fiber is majorly used in the textile and pulp & paper industry, due to its long and robust fibers as compared to cotton. Furthermore, being a renewable source material, its application has been increasing in many diverse industries such as construction, animal bedding, agriculture, furniture, and automobile. Additionally, its usage to obtain biofuels and bioplastics has been expected to increase its demand in the coming years.

CBD hemp oil is projected to be the fastest-growing type, owing to its role in preventing conditions such as anxiety, depression, pain, and acne. Furthermore, the growing application of CBD hemp oil in personal care products, health supplements, and food & beverages is expected to drive the market for this type.

By application, the food segment is expected to dominate the market during the forecast period.

The industrial hemp market, by application, was dominated by the food segment in 2018, owing to the wide application of hemp seeds and hemp seed oil, due to their rich vitamin, protein, and omega-3 fatty acid content. Hemp seeds are consumed raw or are being used as a topping in cereals, smoothies, and yogurt. Rising consumer awareness about the benefits of consuming hemp-based products is driving the market for its application in food.

Industrial Hemp Market

By source, the conventional source sector is expected to lead the market during the forecast period.

The market for industrial hemp from a conventional source dominated in 2018. Industrial hemp is mainly cultivated for fibre for the textile and paper industry. Furthermore, low prices of conventionally obtained hemp as compared to organic source and their growing application of in construction & material, automotive, and furniture industries are expected to drive its market in the coming years.

APAC is expected to hold the largest share in the market

The Asia Pacific market accounted for the largest share in 2018. This dominance is attributed to the extensive production and consumption of hemp fibre in the textile and paper industry. Furthermore, the booming market for cosmetics and personal care products in the Asia Pacific region and legalization of industrial hemp in food supplements is estimated to drive market growth. The European region is projected to grow at the highest CAGR, owing to an increase in consumption of hemp seeds as food as well as their full application in other food products such as smoothies, yogurt, cereals, and bars, especially in countries such as Germany and the Netherlands. Moreover, the rise in awareness among consumers about the nutritional benefits of consuming hemp is further expected to fuel the demand for hemp-based food and personal care products. Furthermore, increasing legalization of industrial hemp in the European region in the coming years is expected to drive the industrial hemp market

Market Dynamics

Driver: Functional properties of hemp seed and hemp seed oil, and their increased use in different food applications

Hemp seeds obtained from the plant “Cannabis sativa” contain only trace amounts of tetrahydrocannabinol (THC). They are rich in two essential fatty acids, linoleic (omega-6) and linolenic (omega-3). They are also a rich source of vitamin E, vitamin B1, vitamin B2, vitamin B6, vitamin D, calcium, magnesium, and potassium, among others. Very few plant-based foods are a complete source of protein; hemp seeds, on the other hand, contain enough amounts of protein that can be considered as a value addition to a vegan diet. Since humans cannot produce essential fatty acids, the addition of hemp seeds could be useful to them, as they are a great source of linoleic (omega-6) and linolenic (omega-3). Additionally, they are low in saturated fats and contain no trans-fat. These are some vital factors that are expected to drive the growth of the hemp seed market in the future.

Restraint: Complex regulatory structure for the usage of industrial hemp

Companies offering hemp and hemp-derived products require compliance with different regulatory guidelines globally. While countries across the globe practice different levels of legalization for different types of hemp, the strict regulatory norms pertaining to the production and sales of industrial hemp across various states in the same country could be tedious for manufacturers and stakeholders to comply with. Additionally, the regulations associated with hemp containing cannabidiol (CBD) and tetrahydrocannabinol (THC) also remain highly varied from state to state, which further leads to complications associated with the trading of the commodity. For instance, in the US, various legal policies should be taken into consideration; these policies include licensure of growers, regulation, and certification of seeds, state-wide commissions, and legal protection of growers.

Opportunity: New product developments from industrial hemp

The increasing legalization of the cultivation of hemp is prompting the manufacturers and research institutions to develop new products from industrial hemp. Biofuel is one such application, which is expected to have significant growth potential in the upcoming years. With the rise in the prices of oil (diesel & petrol), along with the growing concerns about global warming, biofuels have been gaining popularity. Hemp seed extracts are used to produce hemp biodiesel, which can be used in any diesel operated vehicle. Furthermore, hemp can be used to make ethanol, which is currently processed from food crops like wheat and corn. This would result in increased efficiency of food production. Researchers from the University of Connecticut published a report in 2010 stating that hemp biodiesel has a high conversion efficiency of around 97%. Thus, its application as a biofuel would save much time for the production of biodiesel.

Challenge: Lack of processing facilities and planting & harvesting equipment

After the legalization of industrial hemp, in the US, the industrial hemp industry has been growing rapidly in the country, as it is one of the largest consumers of hemp-derived products. However, there has been a lack of proper planting & harvesting equipment. Air seeders that are used for planting the crop must be used with low air volume in case of hemp speed owing to their fragility.

Moreover, industry experts have also suggested that the US lacks commercial-scale processing facilities, which is among the major obstacles to the growth of the industrial hemp market in the country.

Scope of the Report

Report Metric

Details

Market size available for years

2017–2025

Base year considered

2018

Forecast period

2019–2025

Forecast units

Billion (USD)

Segments covered

Type, Application, Source, and Region

Geographies covered

North America, Europe, Asia Pacific, and RoW

Companies covered

Key market players including           
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)

The research report categorizes the Industrial Hemp Market to forecast the revenues and analyse the trends in each of the following sub-segments:

By Type

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

By Application

  • 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)

By the Source

  • Organic
  • Conventional

By the Region

  • North America
    • US
    • Canada
    • Mexico
  • Europe
    • Germany
    • France
    • Italy
    • Spain
    • Netherlands
    • Rest of Europe
  • Asia Pacific
    • China
    • Australia
    • New Zealand
    • Japan
    • India
    • Rest of Asia
  • RoW (South America, Africa, and the Middle East)

Key Market Players

Hempco (Canada), Ecofibre (Australia), Hemp Inc. (US), GenCanna (US), HempFlax BV (Netherlands).

Recent Developments

  • In May 2019, GenCanna and Atalo Holdings (US), entered into a strategic partnership to build a vertically integrated hemp processing and distribution facility in Kentucky, US.
  • In January 2019, Hemp Inc. entered into a joint venture with Hemp Healthcare (US) to sell high-end CBD and hemp-based products, which would increase the company’s presence in Arizona, US.
  • In December 2018, GenCanna announced to expand its processing facility with a setup of a fourth processing facility in Kentucky with an investment of USD 40 million.

Critical questions the report answers:

  • What are the opportunities for new market entrants?
  • Which key industry developments are expected to have a long-term impact on the Industrial Hemp Market?
  • How will the market drivers, restraints and future opportunities affect the market dynamics?
  • Which segment or region will lead the market and why?

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 Market For Industrial Hemp: 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 Market For Industrial Hemp, 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 Market For Industrial Hemp, 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 Market For Industrial Hemp, 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 Market For Industrial Hemp, 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 Hemp–Derived 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, 2015–2018
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, 2017–2025 (USD Million)
Table 5 Industrial Hemp Seed Market Size, By Region, 2017–2025 (USD Million)
Table 6 Industrial Hemp Seed Oil Market Size, By Region, 2017–2025 (USD Million)
Table 7 Industrial CBD Hemp Oil Market Size, By Region, 2017–2025 (USD Million)
Table 8 Industrial Hemp Fiber Market Size, By Region, 2017–2025 (USD Million)
Table 9 Industrial Hemp Market Size, By Application, 2017–2025 (USD Million)
Table 10 Food: By Market Size, By Sub-Application, 2017–2025 (USD Million)
Table 11 Food: Market Size, By Region, 2017–2025 (USD Million)
Table 12 Textiles: By Market Size, By Region, 2017–2025 (USD Million)
Table 13 Beverages: By Market Size, By Sub-Application, 2017–2025 (USD Million)
Table 14 Beverages: Market Size, By Region, 2017–2025 (USD Million)
Table 15 Personal Care Products: By Market Size, By Region, 2017–2025 (USD Million)
Table 16 Pharmaceuticals: By Market Size, By Region, 2017–2025 (USD Million)
Table 17 Others: By Market Size, By Region, 2017–2025 (USD Million)
Table 18 Market For Industrial Hemp Size, By Source, 2017–2025 (USD Million)
Table 19 Conventional IH Market Size, By Region, 2017–2025 (USD Million)
Table 20 Organic IH Market Size, By Region, 2017–2025 (USD Million)
Table 21 IH Market Size, By Region, 2017–2025 (USD Million)
Table 22 Market Size, By Region, 2017–2025 (Tons)
Table 23 North America: By Market Size, By Country, 2017–2025 (USD Million)
Table 24 North America: By Market Size, By Country, 2017–2025 (Tons)
Table 25 North America: By Market Size, By Type, 2017–2025 (USD Million)
Table 26 North America: Hemp Fiber Market Size, By Country, 2017–2025 (USD Million)
Table 27 North America: Hemp Seed Market Size, By Country, 2017–2025 (USD Million)
Table 28 North America: Hemp Seed Oil Market Size, By Country, 2017–2025 (USD Million)
Table 29 North America: CBD Hemp Oil Market Size, By Country, 2017–2025 (USD Million)
Table 30 North America: By Market Size, By Source, 2017–2025 (USD Million)
Table 31 North America: By Market Size, By Application, 2017–2025 (USD Million)
Table 32 US: By Market Size, By Type, 2017–2025 (USD Million)
Table 33 Canada: By Market Size, By Type, 2017–2025 (USD Million)
Table 34 Mexico: Industrial Hemp Market Size, By Type, 2017–2025 (USD Thousand)
Table 35 Europe: By Market Size, By Country, 2017–2025 (USD Million)
Table 36 Europe: Market Size, By Country, 2017–2025 (Tons)
Table 37 Europe: Market Size, By Type, 2017–2025 (USD Million)
Table 38 Europe: Hemp Seed Oil Market Size, By Country, 2017–2025 (USD Million)
Table 39 Europe: Hemp Seed Market Size, By Country, 2017–2025 (USD Million)
Table 40 Europe: Hemp Fiber Market Size, By Country, 2017–2025 (USD Million)
Table 41 Europe: CBD Hemp Oil Market Size, By Country, 2017–2025 (USD Million)
Table 42 Europe: By Market Size, By Application, 2017–2025 (USD Million)
Table 43 Europe: Market For Industrial Hemp Size, By Source, 2017–2025 (USD Million)
Table 44 Germany: Market Size, By Type, 2017–2025 (USD Million)
Table 45 France: Market For Industrial Hemp Size, By Type, 2017–2025 (USD Million)
Table 46 Spain: Market Size, By Type, 2017–2025 (USD Million)
Table 47 Italy: Market For Industrial Hemp Size, By Type, 2017–2025 (USD Million)
Table 48 Netherlands: Market Size, By Type, 2017–2025 (USD Million)
Table 49 Rest of Europe: Market Size, By Type, 2017–2025 (USD Million)
Table 50 Asia Pacific: IH Market Size, By Country/Region, 2017–2025 (USD Million)
Table 51 Asia Pacific: Market Size, By Country/Region, 2017–2025 (Ton)
Table 52 Asia Pacific: Market Size, By Type, 2017–2025 (USD Million)
Table 53 Asia Pacific: Hemp Fiber Market Size, By Country/Region, 2017–2025 (USD Million)
Table 54 Asia Pacific: Hemp Seed Market Size, By Country/Region, 2017–2025 (USD Million)
Table 55 Asia Pacific: Hemp Seed Oil Market Size, By Country/Region, 2017–2025 (USD Million)
Table 56 Asia Pacific: CBD Hemp Oil Market Size, By Country/Region, 2017–2025 (USD Million)
Table 57 Asia Pacific: Market Size, By Source, 2017–2025 (USD Million)
Table 58 Asia Pacific: Market For Industrial Hemp Size, By Application, 2017–2025 (USD Million)
Table 59 China: By Market Size, By Type, 2017–2025 (USD Million)
Table 60 Australia & New Zealand: Industrial Hemp Market Size, By Type, 2017–2025 (USD Million)
Table 61 Japan: By Market Size, By Type, 2017–2025 (USD Million)
Table 62 India:  Market Size, By Type, 2017–2025 (USD Million)
Table 63 Rest of Asia Pacific: By Market Size, By Type, 2017–2025 (USD Million)
Table 64 RoW: By Market Size, By Region, 2017–2025 (USD Million)
Table 65 RoW: Market Size, By Region, 2017–2025, By Volume (Tons)
Table 66 RoW: Market Size, By Type, 2017–2025 (USD Million)
Table 67 RoW: Hemp Seed Oil Market Size, By Region, 2017–2025 (USD Million)
Table 68 RoW: Hemp Seed Market Size, By Region, 2017–2025 (USD Million)
Table 69 RoW: Hemp Fiber Market Size, By Region, 2017–2025 (USD Million)
Table 70 RoW: CBD Hemp Oil Market Size, By Region, 2017–2025 (USD Million)
Table 71 RoW: By Market Size, By Source, 2017–2025 (USD Million)
Table 72 RoW: Market Size, By Application, 2017–2025 (USD Million)
Table 73 South America: By Market Size, By Type, 2017–2025 (USD Million)
Table 74 Middle East: By Market Size, By Type, 2017–2025 (USD Million)
Table 75 Africa: Industrial Hemp Market Size, By Type, 2017–2025 (USD Million)
Table 76 Expansions, 2014–2019
Table 77 Agreements, Joint Ventures, and Partnerships, 2014–2019


List of Figures (34 Figures)

Figure 1 Industrial Hemp Market Segmentation
Figure 2 Regions Covered
Figure 3 Research Design
Figure 4 Market For Industrial Hemp: Bottom-Up Approach
Figure 5 Market For Industrial Hemp: Top-Down Approach
Figure 6 Data Triangulation Methodology
Figure 7 Market For Industrial Hemp Size, By Type, 2019 vs. 2025 (USD Million)
Figure 8 Market Size, By Application, 2019 vs. 2025 (USD Million)
Figure 9 Market For Industrial Hemp Size, By Source, 2019 vs. 2025 (USD Million)
Figure 10 Market For Industrial Hemp 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 Market For Industrial Hemp Dynamics
Figure 18 Market For Industrial Hemp: Value Chain
Figure 19 US Industrial Hemp Regulatory Overview
Figure 20 Market For Industrial Hemp Share, By Type, 2019 vs. 2025 (By Value)
Figure 21 Market For Industrial Hemp Share, By Application, 2019 vs. 2025 (By Value)
Figure 22 Market For Industrial Hemp Share, By Source, 2019 vs. 2025 (By Value)
Figure 23 Market For Industrial Hemp Share (By Value), By Key Country, 2018
Figure 24 Europe: Market For Industrial Hemp Snapshot
Figure 25 Asia Pacific: Market For Industrial Hemp 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 industry’s 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.

Industrial Hemp Market

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)
COVID-19

Get in-depth analysis of the COVID-19 impact on the Industrial Hemp Market

Benchmarking the rapid strategy shifts of the Top 100 companies in the Industrial Hemp Market

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Report Code
FB 7182
Published ON
Jun, 2019
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