DUBLIN–(BUSINESS WIRE)–The “Industrial Hemp Market Size By Type, Application, By Sources, By Geographic Scope And Forecast” report has been added to ResearchAndMarkets.com’s offering.
The global industrial hemp market was valued at USD 5,584.62 Million in 2020 and is projected to reach USD 25,603.00 Million by 2028, growing at a CAGR of 13.57% from 2021 to 2028.
The Industrial Hemp Market report provides a holistic evaluation of the market for the forecast period. The report comprises of various segments as well an analysis of the trends and factors that are playing a substantial role in the market. These factors; the market dynamics, involves the drivers, restraints, opportunities and challenges through which the impact of these factors in the market are outlined. The drivers and restraints are intrinsic factors whereas opportunities and challenges are extrinsic factors of the market. The Industrial Hemp Market study provides an outlook on the development of market in terms of revenue throughout the prognosis period.
Increasing application usage in personal care, food & beverage, textile, and biocomposite industries is projected to drive industrial hemp market size. The rise in hemp oil demand on account of high essential fatty acids content which prevents and alleviates ailments is the factor contributing to industry growth from the food & beverage sector.
This report provides an all-inclusive environment of the analysis for the Industrial Hemp Market. The market estimates provided in the report are the result of in-depth secondary research, primary interviews and in-house expert reviews. These market estimates have been considered by studying the impact of various social, political and economic factors along with the current market dynamics affecting the Industrial Hemp Market growth.
Along with the market overview, which comprises of the market dynamics the chapter includes a Porter’s Five Forces analysis which explains the five forces: namely buyers bargaining power, suppliers bargaining power, threat of new entrants, threat of substitutes, and degree of competition in the Industrial Hemp Market. It explains the various participants, such as system integrators, intermediaries and end-users within the ecosystem of the market. The report also focuses on the competitive landscape of the Industrial Hemp Market.
Market Dynamics
Drivers
- Rising Awareness Among the Consumers About the Benefits of Industrial Hemp
- Functional Properties of Hemp Seed and Hemp Seed Oil, and Their Increased Use in Different Food Applications
Restraints
- Complex Regulatory Structure for the Usage of Industrial Hemp
Opportunities
- Rising Application of Industrial Hemp in Diverse Industries Such as Textile, Pharmaceutical, Food, Beverage, Personal Care, Construction & Material, Furniture, and Paper
Company Profiles
- Ecofibre
- Hemp Inc
- Hemp Oil Canada
- Gencanna
- Hempflax Group B.V
- Konoplex Group
- Bafa – Badische Naturfaseraufbereitung
- Hempoland
- Dun Agro Hemp Group
- Medical Marijuana, Inc.
For more information about this report visit https://www.researchandmarkets.com/r/78bjkx
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