Industrial Hemp Market: Current Analysis and Forecast (2021-2027)

Region:Global

Author(s):

Product Code:UMCG21426

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Published on

September 2021

Total pages

187

Table of Content

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About the Report

About the Report

Industrial hemp is a botanical class of Cannabis Sativa grown specifically for industrial or medicinal uses which can be used for making a wide range of products. It is one of the fastest-growing plants on earth and one of the first plants to be spun into usable fiber 50,000 years ago.

With the growing applications of industrial hemp and the wide adoption of hemp products, there has been a surge in the production of industrial hemp plants across the globe which in turn is driving the growth of the market. For instance, in 2019, the European countries produce around 25% of the world's hemp supply. Amongst them, 40% of this volume was accounted for by France alone at the same time. Also, in the United States, 78,176 licensed acres of hemp were recorded in 2018. Furthermore, the growing geriatric population coupled with the increase in the number of chronic diseases is further expected to propel the growth of the market across the globe. For instance, according to WHO, 41 million people die every year because of non-communicable diseases accounting for 71% of all deaths all over the world.

The industrial hemp market is growing exponentially on account of growth in the legalization of hemp cultivation and changing attitudes of public opinion for the legalization of marijuana. For instance, as per a survey conducted, over the past decade, 2/3rd of Americans agreed that the use of cannabis should be legal while 59% agreed that it should be legal for both medical and recreational purposes and 32% says marijuana should be legal only for medical purposed. In addition to this, with the booming cannabis market across the globe, this industry is creating a greater number of jobs than any other industry in the U.S. For instance, as per Leafly & Whitney Economics, over 64,000 cannabis jobs were created in 2018 alone.

Based on type, the market is fragmented into hemp seed, hemp oil, hemp fiber, and others. The hemp seed segment generated revenue of USD XX billion in 2020. The segment is expected to grow at a CAGR of XX% during the forecast period to reach a market valuation of USD XX billion by 2027. However, the hemp fiber segment is also anticipated to grow with a considerable CAGR of XX% during the forecast period.

Based on the application, the market is fragmented into food & beverages, textiles, personal care products, pharmaceuticals, and others. The food & beverages segment generated revenue of USD XX billion in 2020 and is expected to grow at a CAGR of XX% during the forecast period to reach a market valuation of USD XX billion by 2027F. However, the personal care products segment is also anticipated to grow with a considerable CAGR of XX% during the forecast period.

Based on the source, the market is fragmented into conventional and organic. The conventional segment generated revenue of USD XX billion in 2020 and is expected to grow at a CAGR of XX% during the forecast period to reach a market valuation of USD XX billion by 2027F. However, the organic segment is also anticipated to grow with a considerable CAGR of XX% during the forecast period.

For a better understanding of the market adoption of industrial hemp, the market is analyzed based on its worldwide presence in the countries such as North America (United States, Canada, and Rest of North America), Europe (Germany, France, Italy, Spain, United Kingdom and Rest of Europe), Asia-Pacific (China, Japan, India, Australia and Rest of Asia-Pacific), and Rest of World. Asia-Pacific constitutes a major market for the industrial hemp industry and generated revenue of USD XX billion in 2020 owing to the widespread production and consumption of hemp products in the textile and paper industry.

Some of the major players operating in the market include Hempco, Hemp Inc., Bombay Hemp Company, HempFlax Group B.V., Manitoba Harvest Hemp Foods, Plains Industrial Hemp Processing Ltd., Ecofibre, GenCanna, Aurora Cannabis Inc., Marijuana Company of America, Inc., etc. Several M&A's along with partnerships have been undertaken by these players to develop new and advanced hemp-based products.

Products


Companies

Hempco, Hemp Inc., Bombay Hemp Company, HempFlax Group B.V., Manitoba Harvest Hemp Foods, Plains Industrial Hemp Processing Ltd., Ecofibre, GenCanna, Aurora Cannabis Inc., Marijuana Company of America, Inc.

Table of Contents

Table of Contents

1 MARKET INTRODUCTION

1.1 Market Definitions

1.2 Objective of the Study

1.3 Limitation

1.4 Stake Holders

1.5 Currency Used in Report

1.6 Scope of the Global Industrial Hemp Study

2 RESEARCH METHODOLOGY OR ASSUMPTION

2.1 Research Methodology for the Global Industrial Hemp Market

2.1.1 Main Objective of the Global Industrial Hemp Market

3 MARKET SYNOPSIS

4 EXECUTIVE SUMMARY

5 COVID-19 IMPACT

6 GLOBAL INDUSTRIAL HEMP MARKET REVENUE

7 MARKET INSIGHTS BY TYPE

7.1 Hemp Seed

7.2 Hemp Oil

7.3 Hemp Fibers

7.4 Others

8 MARKET INSIGHTS BY APPLICATION

8.1 Food & Beverages

8.2 Textiles

8.3 Personal Care Products

8.4 Pharmaceuticals

8.5 Others

9 MARKET INSIGHTS BY SOURCE

9.1 Conventional

9.2 Organic

10 MARKET INSIGHTS BY REGION

10.1 NORTH AMERICA INDUSTRIAL HEMP MARKET

10.1.1 United States

10.1.2 Canada

10.1.3 Rest of North America

10.2 EUROPE INDUSTRIAL HEMP MARKET

10.2.1 Germany

10.2.2 France

10.2.3 United Kingdom

10.2.4 Spain

10.2.5 Italy

10.2.6 Rest of Europe

10.3 ASIA PACIFIC INDUSTRIAL HEMP MARKET

10.3.1 China

10.3.2 Japan

10.3.3 India

10.3.4 Australia

10.3.5 Rest of Asia Pacific

10.4 REST OF THE WORLD INDUSTRIAL HEMP MARKET

11 INDUSTRIAL HEMP MARKET DYNAMICS

11.1 Market Drivers

11.2 Market Challenges

11.3 Impact Analysis

12 INDUSTRIAL HEMP MARKET OPPORTUNITIES

13 INDUSTRIAL HEMP MARKET TRENDS & INSIGHTS

14 LEGAL & REGULATORY FRAMEWORK

15 DEMAND AND SUPPLY SIDE ANALYSIS

15.1 Demand Side Analysis

15.2 Supply Side Analysis

15.2.1 Top Product Launches

15.2.2 Top Business Partnerships

15.2.3 Top Merger & Acquisitions

16 VALUE CHAIN ANALYSIS

17 COMPETITIVE SCENARIO

17.1 Porter's Five forces analysis

17.1.1 Bargaining power of Supplier

17.1.2 Bargaining power of Buyer

17.1.3 Industry Rivalry

17.1.4 Availability of Substitute

17.1.5 Threat of new Entrants

18 COMPANY PROFILED

18.1 Ecofibre

18.1.1 Key Facts

18.1.2 Business Description

18.1.3 Key Product/Services Offerings

18.1.4 Growth Strategy

18.1.5 SWOT Analysis

18.1.6 Key Financials

18.1.6.1 Revenue Split

18.1.6.2 Financial Overview of Ecofibre

18.1.7 Recent Developments

18.1.7.1 Product Launch

18.1.7.2 Partnerships

18.1.7.3 Business Expansion and Investments

18.1.7.4 Merger and Acquisition

18.2 Hempco

18.3 Hemp Inc.

18.4 Bombay Hemp Company

18.5 HempFlax Group B.V.

18.6 Manitoba Harvest Hemp Foods

18.7 Plains Industrial Hemp Processing Ltd.

18.8 GenCanna

18.9 Aurora Cannabis Inc.

18.10 Marijuana Company of America, Inc.

19 DISCLAIMER

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