Organic Hemp Market Analysis

Organic Hemp Market Analysis

In terms of distribution channel, the organic hemp market is divided into direct and indirect categories. The indirect segment among these is expected to record revenue worth more than USD 139 million by 2030 owing to the expansion of retail chains offering hemp products. For instance, in November 2021, Hemp, Inc., a frontrunner in the industrial hemp space, announced that USA Grocer, a Florida-based retailer, had begun offering its line of King of Hemp products. Such initiatives to expand the reach of quality hemp products to customers will strengthen industry demand.
 

Based on product, the organic hemp market is segmented into hemp fiber, hemp shives, hemp seed, and hemp dust. Consumer awareness regarding the benefits of organic hemp fibers has increased in recent times. Varied legislations to promote the supply, import, and licensing of hemp fiber products have also been introduced worldwide, supporting the segmental expansion. The industry share from the hemp fiber segment is poised to depict a CAGR of more than 13% through 2030.
 

Hemp fiber is adopted in textiles, building materials, pulp & paper, and bio-composites, among other applications. Among these, product usage in pulp & paper applications has increased, mainly due to the rising awareness pertaining to the benefits of organic hemp papers over wood pulp papers, such as high recyclability and longevity. This type of fiber is also among the strongest natural fibers, which ensures the durability and quality of the paper. Furthermore, since hemp papermaking requires fewer chemicals, product demand from the hemp paper & pulp application segment will grow over the forecast spell.
 

On the regional front, the Asia Pacific organic hemp market will be valued at USD 129 million by 2030. This is attributable to the robust presence of organic hemp producers and the introduction of favorable regulatory policies. Regional hemp companies are also gearing up to increase export activities to make hemp more readily accessible. For instance, in September 2021, India Hemp Organics, a prominent supplier of hemp products, unveiled plans to export its medical, nutritional, and topical skin care products containing hemp overseas, thus contributing to regional industry expansion.