Industrial Hemp Report - Analysis of the demand trend
The figures come from the new study carried out by Research and Markets, which has put together the data analyzing the global markets dividing them by country and analyzing the trend of the various products based on the requests.
From $4.6 billion in 2019 to $26.6 billion in 2025: this is the estimate of the unstoppable growth of the global industrial Hemp market, with an annual increase of 34%.
It is an analysis that starts from the various sectors, to estimate the market and growth potential, analyzing applications, products and producing countries. A study also made by comparing the various international actors.
According to the researchers, "The industrial hemp market is driven by factors such as increased legalization in the cultivation of industrial hemp, the functional properties of hemp seeds and hemp seed oil and their greater use in various food applications and in a growing number of chronic diseases ". While on the other hand, "The hemp fiber segment dominates the industrial hemp market for the entire expected period".
Hemp fiber which is mainly used in the textile, paper and cellulose industries, thanks to its long and resistant fibers compared to cotton. Moreover, being a renewable material, its application has increased in many different sectors such as construction, animal bedding, agriculture, furniture and the automobile sector ".
The forecast communicates that "its use to obtain biofuels and bioplastics will increase demand in the coming years".
The report includes important players such as Hempco (Canada), Ecofibre (Australia), Hemp Inc. (United States), GenCanna (United States), HempFlax BV (Netherlands), Konoplex Group (Russia), Hemp Oil Canada (Canada), BAFA (Germany), Hemp Poland (Poland), Dun Agro (Netherlands), Colorado Hemp Works (United States), Canah International (Romania), South Hemp Tecno (Italy), Plains Industrial Hemp Processing (Canada) and MH Medical Hemp (Germany). The study includes an in-depth analysis of the competition of these actors in the industrial Hemp market, with their company profiles, recent developments and strategies.
At world level, the largest market for the quotas analyzed by the 2018 data is the Asia-Pacific market. «This predominance is attributed to the extensive production and consumption of hemp fiber in the textile and paper industry. Furthermore, due to the boom in the cosmetics and personal care products market in the Asia-Pacific region and the legalization of industrial hemp in food supplements, it is estimated to drive market growth ".
These interesting developments are followed by the increasingly condensed interest in the active ingredient of the THC Hemp plant for which, within the medical sector, more than 50 European states will express themselves in March 2020.
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