Industrial Hemp Market Size - By Product (Seeds [By Derivative Product {Hemp Oil, Seed Cake, Meat, Shell}, By Application {Food & Beverages, Animal Feed, Personal Care}], Fiber], Shives) & Forecast, 2021 - 2027

Industry Trends

Global Industrial Hemp Market size was over USD 205 million in 2020 and is estimated to grow at over 6% CAGR between 2021 and 2027 due to increasing legalization of hemp cultivation and demand for biodegradable and renewable natural materials in various consumer products.
 

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Industrial hemp has several environmental and nutritional benefits. Increasing demand towards dietary supplements and food & beverages along with increasing consumer health awareness contributes significantly to hemp seeds demand. Hemp oil contains large amounts of antioxidants which are driving its application in personal care & cosmetics application.
 

Increasing demand towards dietary supplements and food & beverages along with increasing consumer health awareness is contributing to the growth of the industrial hemp market. The Cannabidiol (CBD) and CBD oil present in hemp has several medicinal properties and has the potential for treating tumors and diabetes and reducing pain, including chronic pain which is expected to be the key driving factor for market growth.
 

Growing demand for breathable and biodegradable composites from the textile industry

Industrial hemp is a tough, durable natural fiber with little elasticity. Hemp fiber has the highest heat capacity ratio of all natural fibers and has excellent heat insulation. This fabric, like any other natural fabric, offers excellent durability as well as warmth and softness. In addition, the fabric is highly breathable and biodegradable, which has a positive effect on product demand.
 

Hemp fibers offer extreme durability and are natural textile fibers which offer high strength, absorbency, fiber length & anti-microbial properties and are used in decorative textile products. It is also naturally resistant to UV rays, mold & is more water absorbent, therefore retains its colour better than any other fabric.
 

Hemp fabric is highly absorbent, mold-resistant, more insulating than cotton, and resistant to harmful UV rays. Combined with materials such as silk, linen, and cotton, it provides long-lasting products with consistent quality and softness. The expansion of the range of bio-based fabrics for industrial applications such as nets and geotextiles are expected to drive demand for hemp fabrics. The global industrial hemp market from textile application was valued at USD million 15.5 in 2020 and is anticipated to grow at a CAGR of 5.5% through 2027.
 

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Growing demand for bio-based textiles on account of their sustainability and eco-friendly characteristics should have major impact on the market growth. Also, strict government norms on handling the problems of textile pollution and water scarcity have driven the textile industry on adoption of sustainable productions which is anticipated to create business opportunities for industrial hemp fiber thus leading to market growth.
 

Increasing consumer demand for plant-based protein will drive business growth in food and beverages

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Hemp seed market for food and beverages is projected to gain a value of around USD 74 million by 2027, growing at a CAGR of over 6.5% during the assessment period. Rising consumer consciousness about healthy lifestyle, increasing prevalence of chronic disorders including diabetes, blood pressure, obesity is and increasing incidences of intolerance for animal protein is projected to drive the demand for plant-based protein.
 

Hemp seeds are majorly used in food products and dietary supplements in the form of hemp milk, raw seeds, and hemp protein. Hemp is naturally gluten-free, GMO-free, trypsin inhibitor-free, and has very little chemical residue. Hemp protein is highly nutritious, easy to digest, and is a rich source of amino acids essential to meet the protein needs of the human body. Increasing consumer consciousness towards calorie reduction among athletes and gym professional across the globe should promote supplements industry growth.
 

Hemp with a THC content of less than 0.2% also known as cannabis is legal for use in foods, beverages, and dietary supplements. The Cannabidiol (CBD) present in hemp have several medicinal properties and the CBD oil has potential for treating tumours, reducing the likelihood of diabetes and relieves stiffness and pain, including chronic pain owing to which it has wide application in dietary supplements.
 

Rising demand for supplements targeting health, mood, stress, and anxiety are expected to witness growth thereby driving the demand for hemp-based products. Hemp seeds are a rich source of protein and fatty acids and are used in many foods and beverages, including salad, oatmeal, granola bars, protein shakes, dietary supplements, and dairy alternative. Growing demand for convenient and safe protein sources to meet daily nutrient requirement is projected to accelerate the demand of hemp seeds. In addition, supporting government policies and regulations on hemp-based food products will boost demand for hemp seeds in upcoming years.
 

Growing demand for CBD products coupled with positive regulatory outlook will stimulate industry growth in North America  

North America industrial hemp market value is anticipated to reach USD 87.5 million by 2027 and is expected to grow at a CAGR of 7.5% over the review period. Cannabidiol is a naturally occurring compound extracted from industrial cannabis and is used to cure a variety of human diseases. These products offer several benefits such as protection against Alzheimer's disease, anti-inflammatory effects, and help in the treatment of epilepsy and mental disorders. CBD is widely used in the treatment of cancer and withdrawal symptoms. These are important factors driving demand for CBD products in North America.
 

The hemp oil is widely used in pharmaceutical products owing to its benefits of relieving pain, anti-inflammatory properties, and has potential for treating tumours, reducing the likelihood of diabetes and relieves stiffness and pain, including chronic pain. Aging and growing population along with emerging medical conditions is all driving the pharmaceutical industry in the region which is anticipated to stimulate product demand for pharmaceutical applications.
 

CBD skin care products increase skin hydration, which is a major cause of consumers suffering from skin-related conditions such as eczema, dryness and psoriasis. These products are effective in treating acne and have a significant impact on demand growth. In addition, in skin care, CBD provides an anti-aging solution and is effective for all skin types.
 

This is expected to continue to be a key factor driving growth in demand for CBD skin care products. Positive regulatory outlook in the U.S., such as the passage of the 2018 Agricultural Bill, which legalizes industrial cannabis cultivation, is to increase the number of players involved in the cultivation which will support the industrial hemp market growth.
 

Increasing investments in R&D and product innovations by industry participants to accelerate market competitiveness

Key players operating in the industrial hemp industry are HempFlax B.V., North American Hemp & Grain Co. Ltd, Terra Tech Corp., Fresh Hemp Foods, Ltd., Hempco Food and Fiber Inc., American Hemp LLC and Plains Industrial Hemp Processing Ltd. Some of the other players operating in the market includes Boring Hemp Company, Bombay Hemp Company, Parkland Industrial Hemp Growers Cooperative Ltd. (PIHG), HempMeds Brasil, Hudson valley Hemp, LLC, Marijuana Company of America Inc, Global Hemp Group Inc., Valley Bio Limited
 

These companies are engaged in extensive research & development to develop innovative products to improve the quality and other business strategies such as collaborations/partnerships, mergers& acquisition and business expansion to gain competitive edge in global market. For instance, In May 2021, the Global Hemp Group acquired strategic property which will be the site for Hemp Industrial Agro-Zone (HIAZ). The manufacturing facility is focused on hemp-based building materials. The company’s strategy is based on building an entire green and sustainable community utilizing, showcasing hemp-based building materials, and attracting government, industry support, support green community stakeholders and partnerships.
 

June 2019, Marijuana Company of America, Inc. Has launched a high-yielding CBD cannabis cultivation project on 35 acres of land in Shio, Oregon, in collaboration with its joint venture partner, Global Hemp Group. The team estimates that they will plant 40,000-50,000 plants with a CBD content of 12%-15%. This project helped companies to gain a strong position in the industrial cannabis industry in both Canada and the U.S.
 

The global industrial hemp market report includes in-depth coverage of the industry with estimates & forecast in terms of volume in Kilo Tons & revenue in USD Million from 2021 to 2027 for the following segments:

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By Product

• Seeds
  • By Derivatives
    • Hemp Oil
    • Seed Cake
    • Meat
    • Shell
  • By Application
    • Food & Beverages
    • Animal Feed
    • Personal Care
    • Others
• Fiber
  • By Application
    • Bio Composites
    • Building Materials
    • Textiles
    • Pulp & Paper
    • Others
• Shives
  • By Application
    • Animal Bedding
    • Building Material
    • Garden Mulch
    • Others

The above information has been provided for the following countries:

By Region

• North America
  • US
  • Canada
  • Mexico
• Europe
  • Germany
  • UK
  • France
  • Italy
  • Spain
  • Russia
• Asia Pacific
  • China
  • India
  • Japan
  • Thailand
  • South Korea
  • Australia
• Latin America (LATAM)
  • Brazil
  • Chile
• Middle East & Africa (MEA)
  • South Africa
  • Egypt