The industrial hemp market is to see rapid growth in the upcoming years. 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. 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.
The hemp fiber segment is projected to account for the largest market share 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.
The conventional source segment in the market is estimated to dominate the 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.
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.
Key market players includes 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).
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 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?
1.1. Market Definition
1.2. Study Scope
1.3. Study Period
1.4. Market Stakeholders
2. Research Methodology
2.1. Secondary Research
2.2. Primary Research
2.3. Research Design
2.4. Data Validation
2.5. Limitations and Assumptions
3. Market Dynamics
3.1.1. Increasing Legalization in the Cultivation of Industrial Hemp
3.1.2. Functional Properties of Hemp Seed and Hemp Seed Oil, and Their Increased Use in
Different Food Applications
3.1.3. Increasing Number of Chronic Diseases
3.2.1. Complex Regulatory Structure for the Usage of Industrial Hemp
3.2.2. Lack of Viable Availability of Seeds for the Cultivation of Industrial Hemp
3.2.3. Lack of Processing Facilities and Planting & Harvesting Equipment
3.3.1. New Product Developments From Industrial Hemp
4. Executive Summary
5. Market For Industrial Hemp, By Type
5.1. Hemp Seed
5.2. Hemp Seed Oil
5.3. CBD Hemp Oil
5.4. Hemp Fibre
6. Market For Industrial Hemp, By Application
6.1.1. Snacks & Cereals
6.1.2. Soups, Sauces, & Seasonings
6.1.3. Bakery Products
6.1.4. Dairy & Frozen Desserts
6.3.1. Hot Beverages
6.3.2. Sports & Energy Drinks
6.3.3. Ready-To-Drink Beverages
6.4. Personal Care Products
7. Market For Industrial Hemp, By Source
8. Market For Industrial Hemp, By Region
8.1. North America
8.2.6. Rest of Europe
8.3. Asia Pacific
8.3.4. Australia & New Zealand
8.3.5. Rest of Asia Pacific
8.4. Rest of the World
8.4.1. South America
8.4.2. Middle East
9. Company Profiles
9.3. Hemp Inc.
9.5. Hempflax BV
9.6. Konoplex Group
9.7. Hemp Oil Canada
9.9. Hemp Poland
9.10. Dun Agro
9.11. Colorado Hemp Works
9.12. Canah International
9.13. South Hemp Tecno
9.14. Plains Industrial Hemp Processing
9.15. Medical Hemp
10. Conclusion and Recommendations
11.2. Related Reports