Industrial Hemp Market anticipated to reach US$22.438 billion by 2030 at a CAGR of 17.75%

The industrial hemp market is forecasted to grow at a CAGR of 17.75% between US$9.913 billion in 2025 to US$22.438 billion in 2030.

NOIDA, UTTAR PRADESH, INDIA, January 17, 2025 /EINPresswire.com/ -- According to a new study published by Knowledge Sourcing Intelligence, the industrial hemp market is projected to grow at a CAGR of 17.75% between 2025 and 2030, reaching US$22.438 billion in 2030.

Industrial Hemp is a variety of the Cannabis sativa plant species that is grown specifically for the industrial purposes, having application in industries such as food & beverages, textiles, beauty products etc. It is high in fiber and low in active tetrahydrocannabinol. As per the USDA, in USA and Canada, the industrial hemp must have THC levels less than 0.3 percent to be considered as industrial hemp. Its fiber, seed, seed oil and others are being used for various applications in the industries, driving its market growth.

Industrial hemp market is anticipated to have a significant growth of 17.75% CAGR, driven by many factors contributing to its robust growth. Its versatility and burgeoning applications, such as in food and beverages, diet supplements, textiles, and meals, among others will be its market driver. Also, hemp is a natural repellent to most insects, pests, and even diseases, thus being used as a natural pesticide as well. Further, the environmental benefits and sustainability associated with industrial hemp uses is driving its market growth. Moreover, the increasing innovation in the uses of industrial hemp will be significantly expanding its application base and thus, the market will have a robust growth.

The industrial hemp market is experiencing robust growth due to continuous product innovation, which is expanding its application base and driving demand across multiple industries. For instance, in June 2024, Hempalta Corp announces the release of a new biochar product that is made from recycled industrial hemp biomass. This product innovation is anticipated to continue in the forecast period, further driving the market.

The Access sample report or view details: https://www.knowledge-sourcing.com/report/industrial-hemp-market

Industrial hemp market is segmented by type into hemp seed, hemp seed oil, hemp fiber, and CBD hemp oil. Hemp seed is used in food & beverages as well as in dietary supplements as it is rich in nutrients like protein, fiber etc. It is the seed part of the Cannabis sativa plant having rich nutritional profile. Hemp is primarily used for its fiber and have many applications in various industries such as textiles, construction etc. For example, it is used for producing durable fabrics for textile industries as it has great strength as well as it is highly durable. During the forecast period, hemp fiber will continue to dominate the market segment based on type as its fiber is traditionally used used for various applications.

The industrial hemp market by source is segmented into organic and conventional. Organic hemp is cultivated naturally without using chemicals. While conventional hemp production may include use of fertilizers as well as pesticides. Organic hemp is anticipated to be growing significantly due to its sustainability as well as increased demand in various industries driven by organic trend such as food, beverages and personal care industry.

The industrial hemp market by application is segmented into food, beverages, personal care products, textiles and pharmaceuticals. In the food industry, industrial hemp is used as hemp seeds as a superfood due to its high nutritional content, hemp oil due to its omega-3 and omega-6 fatty acid content and many other applications. In the personal care products industry, hemp is used as seed oil in variety of cosmetic products such as lotions, body oils etc. for its hydrating and anti-inflammatory properties. In the textile industry, hemp is primarily used for making fabric due to its good strength as well as its durability. During the forecast period, textile segment will continue to dominate the market while food and personal care products industry will be having a significant growth.

Based on geography, Asia Pacific will be witnessing exponential growth during the forecast period. China, India, Japan, Korea, Australia, New Zealand, and Thailand are some of the economies currently involved in the production and consumption of industrial hemp and its by-products such as fibre, seed, hurds, oil, and several others, thus, would be driving the region’s growth in the industrial hemp market. Advancement in the technology along with rising demand will be driving the market growth.

The report includes the major players operating in the industrial hemp: Gohemp, Textile Exchange, Hemp Fabric Lab, Aurora Innovations, Ecofibre, HempFlax, Hempro, MH Medical Hemp, Parkland Industrial Hemp Growers Co-op. Ltd., Teagasc, Hemp Fortex, Enviro Textiles, Hemp Traders, Makuu, and Konoplex

The market analytics report segments the Industrial Hemp market as follows:

• By Type

o Hemp Seed
o Hemp Seed Oil
o Hemp Fiber
o CBD Hemp Oil

• By Source

o Organic
o Conventional

• By Application

o Food
o Beverages
o Personal Care Products
o Textiles
o Pharmaceuticals

• By Geography

• North America

o USA
o Canada
o Mexico

• South America

o Brazil
o Argentina
o Others

• Europe

o Germany
o France
o United Kingdom
o Spain
o Others

• Middle East and Africa

o Saudi Arabia
o UAE
o Israel
o Others

• Asia Pacific

o China
o Japan
o India
o South Korea
o Indonesia
o Taiwan
o Others

Companies Profiled:

• Gohemp
• Textile Exchange
• Hemp Fabric Lab
• Aurora Innovations
• Ecofibre
• HempFlax
• Hempro
• MH Medical Hemp
• Parkland Industrial Hemp Growers Co-op. Ltd.
• Teagasc
• Hemp Fortex
• Enviro Textiles
• Hemp Traders
• Makuu
• Konoplex

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Harsh Sharma
Knowledge Sourcing Intelligence LLP
+1 850-250-1698
info@knowledge-sourcing.com
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