The global industrial hemp market size is expected to be worth around US$ 20.01 billion by 2030, according to a new report by Vision Research Reports.
The global industrial hemp market size was valued at US$ 5.60 billion in 2020 and is anticipated to grow at a CAGR of 17.2% during forecast period 2021 to 2030.
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Report Coverage
| Report Scope | Details |
| Market Size | US$ 20.01 Bn by 2030 |
| Growth Rate | CAGR of 17.2% From 2021 to 2030 |
| Base Year | 2021 |
| Forecast Period | 2021 to 2030 |
| Segments Covered | Product, application |
| Regional Scope | North America, Europe, Asia Pacific, Latin America, Middle East & Africa |
| Companies Mentioned | Parkland Industrial Hemp Growers Cooperative Ltd.; CBD Biotechnology Co.; Botanical Genetics, LLC; Marijuana Company of America Inc.; HempMeds Brasil; 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; Industries Operations; Valley Bio Limited |
Growth Factors
The upscaling utilization of hemp oil in food and beverage products for its dietary benefits is expected to increase the demand for hemp over the forecast period.
Population growth, coupled with the rising per capita disposable income, is expected to result in the increased demand for high-quality cosmetics, personal care products, protein supplements, and other health food products. These factors are expected to drive the market over the projected period.
Industrial hemp cultivation, harvesting, and processing are associated with increasing research and development activities to develop new genetic improvements, perfect agronomy, improved technologies to obtain a high yield, and premium quality products. Moreover, investments in research & development for enhanced performance in cancer treatments have offered growth prospects to the hemp industry
By Product Analysis
Seeds held the largest volume share of over 40.0% in 2020. Rising demand for oil, seed cakes, and food matter from the food and nutraceutical markets owing to the high fatty acid content and nutritional value has supported the demand for hemp seeds.
The outer portion of the hemp stalk contains bast fibers, which are majorly used in the textile industry for the manufacturing of yarns, spun fibers, and a range of consumer and industrial textiles. Fibers are also used in paper, carpeting, home furnishing, construction materials, insulation materials, auto parts, and composites.
Hemp fibers are robust, contain a high amount of hemicellulose, and have a high absorbent capacity. These factors make hemp a useful crop for the textile industry. Hemp biocomposites are largely used for molding in automotive parts and components.
Shives or hurd is the inner core part of the hemp stalks and a short woody fiber harvested from industrial hemp crops. Hemp shives cost half the value of fibers and have several applications in different industries, which is expected to fuel the market growth over the forecast period.
By Application Analysis
The textiles application segment led the market and accounted for a revenue share of more than 20.0% in 2020. The rising demand for consumer textiles including apparel, fabrics, denim, fine textiles, and industrial textile products such as twine, rope, nets, canvas bags, tarps, carpets, and geotextiles is expected to support the market growth over the projected period.
Hemp fibers are used in fabrics and textiles, yarns and spun fibers, carpeting, home furnishing, construction materials, paper, insulation materials, auto parts, and composites. Hurds are used in animal bedding, oil absorbents, and paper-making.
Industrial hemp products are widely used in automotive products such as auto parts, oil paints, coatings, lightweight hemp plastics, and related composites and are also used as an alternative to fiberglass in the automotive and aviation sectors.
By Regional Analysis
Asia Pcific dominated the market and accounted for a revenue share of over 30.0% in 2020. Increasing global demand for industrial hemp and advancing technologies and innovation are making harvesting easier for cultivators, thereby changing the face of hemp production in the region.
China was the largest producer and exporter of industrial hemp, hemp products, and end-use products including paper and textiles in 2020. Industrial hemp is cultivated in more than 20 provinces of China, with Heilongjiang, Yunnan, Shanxi, and Anhui being the leading producers.
Industrial hemp production, consumption, and transportation are strictly controlled by various laws in North America. There is still no large-scale commercial production in the U.S. and the market majorly depends on imports.
The European hemp industry focuses on industrial applications of hemp such as automotive and construction materials. Hemp grown in Romania, Hungary, France, Slovenia, and many other European countries is increasingly being used in industrial applications.
Key Players
Market Segmentation
Table of Contents
Chapter 1. Introduction
1.1. Research Objective
1.2. Scope of the Study
1.3. Definition
Chapter 2. Research Methodology
2.1. Research Approach
2.2. Data Sources
2.3. Assumptions & Limitations
Chapter 3. Executive Summary
3.1. Market Snapshot
Chapter 4. Market Variables and Scope
4.1. Introduction
4.2. Market Classification and Scope
4.3. Industry Value Chain Analysis
4.3.1. Raw Material Procurement Analysis
4.3.2. Sales and Distribution Channel Analysis
4.3.3. Downstream Buyer Analysis
Chapter 5. Market Dynamics Analysis and Trends
5.1. Market Dynamics
5.1.1. Market Drivers
5.1.2. Market Restraints
5.1.3. Market Opportunities
5.2. Porter’s Five Forces Analysis
5.2.1. Bargaining power of suppliers
5.2.2. Bargaining power of buyers
5.2.3. Threat of substitute
5.2.4. Threat of new entrants
5.2.5. Degree of competition
Chapter 6. Competitive Landscape
6.1.1. Company Market Share/Positioning Analysis
6.1.2. Key Strategies Adopted by Players
6.1.3. Vendor Landscape
6.1.3.1. List of Suppliers
6.1.3.2. List of Buyers
Chapter 7. Global Industrial Hemp Market, By Product
7.1. Industrial Hemp Market, by Product, 2021-2030
7.1.1. Seeds
7.1.1.1. Market Revenue and Forecast (2017-2030)
7.1.2. Fiber
7.1.2.1. Market Revenue and Forecast (2017-2030)
7.1.3. Shives
7.1.3.1. Market Revenue and Forecast (2017-2030)
Chapter 8. Global Industrial Hemp Market, By Application
8.1. Industrial Hemp Market, by Application, 2021-2030
8.1.1. Animal Care
8.1.1.1. Market Revenue and Forecast (2017-2030)
8.1.2. Textiles
8.1.2.1. Market Revenue and Forecast (2017-2030)
8.1.3. Automotive
8.1.3.1. Market Revenue and Forecast (2017-2030)
8.1.4. Furniture
8.1.4.1. Market Revenue and Forecast (2017-2030)
8.1.5. Food & Beverages
8.1.5.1. Market Revenue and Forecast (2017-2030)
8.1.6. Paper
8.1.6.1. Market Revenue and Forecast (2017-2030)
8.1.7. Construction Materials
8.1.7.1. Market Revenue and Forecast (2017-2030)
8.1.8. Personal Care
8.1.8.1. Market Revenue and Forecast (2017-2030)
Chapter 9. Global Industrial Hemp Market, Regional Estimates and Trend Forecast
9.1. North America
9.1.1. Market Revenue and Forecast, by Product (2017-2030)
9.1.2. Market Revenue and Forecast, by Application (2017-2030)
9.1.3. U.S.
9.1.3.1. Market Revenue and Forecast, by Product (2017-2030)
9.1.3.2. Market Revenue and Forecast, by Application (2017-2030)
9.1.4. Rest of North America
9.1.4.1. Market Revenue and Forecast, by Product (2017-2030)
9.1.4.2. Market Revenue and Forecast, by Application (2017-2030)
9.2. Europe
9.2.1. Market Revenue and Forecast, by Product (2017-2030)
9.2.2. Market Revenue and Forecast, by Application (2017-2030)
9.2.3. UK
9.2.3.1. Market Revenue and Forecast, by Product (2017-2030)
9.2.3.2. Market Revenue and Forecast, by Application (2017-2030)
9.2.4. Germany
9.2.4.1. Market Revenue and Forecast, by Product (2017-2030)
9.2.4.2. Market Revenue and Forecast, by Application (2017-2030)
9.2.5. France
9.2.5.1. Market Revenue and Forecast, by Product (2017-2030)
9.2.5.2. Market Revenue and Forecast, by Application (2017-2030)
9.2.6. Rest of Europe
9.2.6.1. Market Revenue and Forecast, by Product (2017-2030)
9.2.6.2. Market Revenue and Forecast, by Application (2017-2030)
9.3. APAC
9.3.1. Market Revenue and Forecast, by Product (2017-2030)
9.3.2. Market Revenue and Forecast, by Application (2017-2030)
9.3.3. India
9.3.3.1. Market Revenue and Forecast, by Product (2017-2030)
9.3.3.2. Market Revenue and Forecast, by Application (2017-2030)
9.3.4. China
9.3.4.1. Market Revenue and Forecast, by Product (2017-2030)
9.3.4.2. Market Revenue and Forecast, by Application (2017-2030)
9.3.5. Japan
9.3.5.1. Market Revenue and Forecast, by Product (2017-2030)
9.3.5.2. Market Revenue and Forecast, by Application (2017-2030)
9.3.6. Rest of APAC
9.3.6.1. Market Revenue and Forecast, by Product (2017-2030)
9.3.6.2. Market Revenue and Forecast, by Application (2017-2030)
9.4. MEA
9.4.1. Market Revenue and Forecast, by Product (2017-2030)
9.4.2. Market Revenue and Forecast, by Application (2017-2030)
9.4.3. GCC
9.4.3.1. Market Revenue and Forecast, by Product (2017-2030)
9.4.3.2. Market Revenue and Forecast, by Application (2017-2030)
9.4.4. North Africa
9.4.4.1. Market Revenue and Forecast, by Product (2017-2030)
9.4.4.2. Market Revenue and Forecast, by Application (2017-2030)
9.4.5. South Africa
9.4.5.1. Market Revenue and Forecast, by Product (2017-2030)
9.4.5.2. Market Revenue and Forecast, by Application (2017-2030)
9.4.6. Rest of MEA
9.4.6.1. Market Revenue and Forecast, by Product (2017-2030)
9.4.6.2. Market Revenue and Forecast, by Application (2017-2030)
9.5. Latin America
9.5.1. Market Revenue and Forecast, by Product (2017-2030)
9.5.2. Market Revenue and Forecast, by Application (2017-2030)
9.5.3. Brazil
9.5.3.1. Market Revenue and Forecast, by Product (2017-2030)
9.5.3.2. Market Revenue and Forecast, by Application (2017-2030)
9.5.4. Rest of LATAM
9.5.4.1. Market Revenue and Forecast, by Product (2017-2030)
9.5.4.2. Market Revenue and Forecast, by Application (2017-2030)
Chapter 10. Company Profiles
10.1. Parkland Industrial Hemp Growers Cooperative Ltd.
10.1.1. Company Overview
10.1.2. Product Offerings
10.1.3. Financial Performance
10.1.4. Recent Initiatives
10.2. CBD Biotechnology Co.
10.2.1. Company Overview
10.2.2. Product Offerings
10.2.3. Financial Performance
10.2.4. Recent Initiatives
10.3. Botanical Genetics, LLC
10.3.1. Company Overview
10.3.2. Product Offerings
10.3.3. Financial Performance
10.3.4. Recent Initiatives
10.4. Marijuana Company of America Inc.
10.4.1. Company Overview
10.4.2. Product Offerings
10.4.3. Financial Performance
10.4.4. Recent Initiatives
10.5. HempMeds Brasil
10.5.1. Company Overview
10.5.2. Product Offerings
10.5.3. Financial Performance
10.5.4. Recent Initiatives
10.6. Terra Tech Corp.
10.6.1. Company Overview
10.6.2. Product Offerings
10.6.3. Financial Performance
10.6.4. Recent Initiatives
10.7. American Cannabis Company, Inc.
10.7.1. Company Overview
10.7.2. Product Offerings
10.7.3. Financial Performance
10.7.4. Recent Initiatives
10.8. HempFlax B.V.
10.8.1. Company Overview
10.8.2. Product Offerings
10.8.3. Financial Performance
10.8.4. Recent Initiatives
10.9. Industrial Hemp Manufacturing, LLC
10.9.1. Company Overview
10.9.2. Product Offerings
10.9.3. Financial Performance
10.9.4. Recent Initiatives
10.10. American Hemp
10.10.1. Company Overview
10.10.2. Product Offerings
10.10.3. Financial Performance
10.10.4. Recent Initiatives
Chapter 11. Research Methodology
11.1. Primary Research
11.2. Secondary Research
11.3. Assumptions
Chapter 12. Appendix
12.1. About Us
12.2. Glossary of Terms
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