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09-02-2024 09:37 AM CET | Health & Medicine
In recent years, globally, increased demand for industrial hemp from businesses such as food and beverage, personal care, and animal care is driving expansion. The aforementioned application industries’ growing need for hemp products such as fiber, seed, stalks, herbs, and oils is predicted to fuel development. Growing consumer awareness of the nutritional benefits of hemp seed and hemp seed oil, as well as increased demand from the cosmetics and personal care sectors. Growing development of hemp-based soaps, shampoo, bath gels, hand and body lotions, UV skin defenders, massage oils, and a variety of other goods is likely to have a significant influence on market growth. Hemp’s high nutritional value, as well as its favorable fatty acid and protein profiles, are boosting demand for hemp products. Hemp fiber’s high absorbency makes it useful for animal bedding, oil and gas cleaning, and the personal care sector. Furthermore, due to its favorable acoustic and aesthetic features, there is an increase in product demand in the textile, paper, and building materials sectors.
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Global Hemp Market size was valued at USD 5.7 billion in 2021 and is poised to grow from USD 6.54 billion in 2022 to USD 18.71 billion by 2030, at a CAGR of 14.04% during the forecast period (2023-2030). The Research report on Hemp Market presents a complete judgment of the market through strategic insights on future trends, growth factors, supplier landscape, demand landscape, Y-o-Y growth rate, CAGR, pricing analysis. It also provides and a lot of business matrices including Porters Five Forces Analysis, PESTLE Analysis, Value Chain Analysis, 4 Ps’ Analysis, Market Attractiveness Analysis, BPS Analysis, Ecosystem Analysis. It also summarizes possible profit opportunities, sales/demand, production as well as consumption analysis, in involvement to Hemp industry share in each nation and sub-region. The geographical segment of the Hemp market report illustrates the industry share as well as growth rates of each region during the estimated period from 2024 to 2031.
Global urbanization and rapid industrialization have increased the need for new market Growth. This has prompted a rise in the use of Hemp. Additionally, massive amounts of money are being spent by governments and the private sector globally on Hemp industry, which is further boosting the market’s expansion. The amount that regional governments are investing to improve the current investment is increasing as part of their global market plans. The whole research report on the Hemp market concentrated on the valuable data and various other factors. Additionally, the report delivers a comprehensive overview, pie charts, tables, diagrams, and tables to assist the growth of the Hemp market.
Hemp Market Segmental Analysis
The Global Hemp Market is segmented based on product type, application, distribution channel. Based on the product type, the market is segmented into hemp seed, hemp oil, hemp fiber. Based on application, the market is segmented into food and beverages, textiles, personal care and cosmetics, pharmaceuticals, automotive, construction. Based on distribution channel, the market is segmented into online retail, brick-and-mortar retail, business-to-business (B2B). These segments will dominate the future hemp market.
Top Player’s Company Profiles
Hemp, Inc. (US)
Canopy Growth Corporation (Canada)
Charlotte’s Web Holdings, Inc. (US)
Ecofibre Limited (Australia)
CV Sciences, Inc. (US)
Tilray Inc. (Canada)
Hempco Food and Fiber Inc. (Canada)
Hempflax BV (Netherlands)
Folium Biosciences (US)
HempMeds (US)
Manitoba Harvest Hemp Foods (Canada)
Hemp Oil Canada Inc. (Canada)
Hemp Fusion (US)
Elixinol Global Limited (Australia)
Kazmira LLC (US)
ENDOCA (Netherlands)
HMI Group (China)
Hempitecture (US)
Hempel As(Denmark)
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Essential regions of the Hemp market are:
• Hemp North America Market includes (Canada, Mexico, USA)
• Hemp Europe Market includes (Germany, France, Great Britain, Italy, Spain, Russia)
• Hemp Asia-Pacific Market includes (China, Japan, India, South Korea, Australia)
• Middle East and Africa (Saudi Arabia, United Arab Emirates, South Africa)
• Hemp South America Market includes (Brazil, Argentina)
FAQs: –
1. What are the sales, production, consumption, imports, and exports of the global market (North America, Europe, Asia-Pacific, South America, Middle East, and Africa)?
2. Who are the major manufacturers who dominate the world market?
3. What are their current capacity, production, sales, pricing, cost, gross, and revenue operating levels?
4. What are the market’s risks and opportunities?
What’s more, it likewise covers the request and give of the promoting research concentrate in the assessed figure time frame. Explained investigation of the market players with their profile, deals examination and serious scene is given in the report. Besides, organization, joint effort and consolidations in the business are referenced for the accommodation of the investigation of the global Hemp industry.
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Pivotal questions answered in the global Hemp market report:
• What are the major value propositions of the Hemp market?
• What are the new strategical frameworks that are mobilized among players to accomplish resilience in the wake of the COVID-19 pandemic?
• What technologies are expected to adopt the new regulations in Hemp report?
• What are the key collaborations generated by the vendors to consolidate their position in the Hemp market?
• What are the vital offerings new entrants concentrate on to implement unique positioning strategies?
• What are the futuristic prospects of the Hemp market across the globe?
Looking ahead, the Hemp Market is poised for continued growth, driven by evolving consumer preferences and ongoing innovations. The trend towards sustainability is expected to strengthen, with more consumers seeking products that align with their values. Additionally, the integration of advanced technologies and digital platforms will likely further enhance market accessibility and consumer engagement. The global Hemp Market is a dynamic and evolving landscape, shaped by a confluence of trends and factors.
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This release was published on openPR.
“}]] In recent years globally increased demand for industrial hemp from businesses such as food and beverage personal care and animal care is driving expansion The aforementioned application industries growing need for hemp products such as fiber seed stalks herbs and … Read More