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Industrial Hemp Market Size
- Report ID: GMI3306
- Published Date: Jan 2022
- Report Format: PDF
Industrial Hemp Market Size
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.
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.
| Report Attribute | Details |
|---|---|
| Base Year: | 2020 |
| Industrial Hemp Market Size in 2020: | 205.0 Million (USD) |
| Forecast Period: | 2021 to 2027 |
| Forecast Period 2021 to 2027 CAGR: | 6% |
| 2027 Value Projection: | 310 Million (USD) |
| Historical Data for: | 2016 to 2020 |
| No. of Pages: | 290 |
| Tables, Charts & Figures: | 378 |
| Segments covered: | Product, Application |
| Growth Drivers: |
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| Pitfalls & Challenges: |
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Frequently Asked Questions (FAQ) :
Industrial Hemp Market Scope
