The industrial hemp is made from cannabis sativa and is used across the world to manufacture various industrial and commercial goods. Industrial hemp is a rich source of fiber and oilseed. The industrial hemp is grown in more than 30 countries across the globe. There is a lot of confusion between industrial hemp and marijuana as there are a wide range of similarities between the two plants. Owing to the rich nutritional benefits served by the industrial hemp as a rich source of proteins, omega-3, omega-6 and amino acids, the global market for industrial hemp is likely to gain a significant growth during the forecast period. However, the restrictions related to the cultivation and production of industrial hemp in various nations is likely to impede the growth of Industrial Hemp Market. The global market for industrial hemp is highly dependent upon the import of seeds, raw fibers and finished products. The required components of industrial hemp are extracted from the raw hemp with the help of manufacturing and processing equipment. Industrial hemp serves numerous nutritional benefits including the protection of brain and boosting heart function.
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Rising Prevalence of Skin Diseases to Boost the Overall Industrial Hemp Market
Rising incidences of heart attacks and other cardiovascular diseases are likely to boost the market for industrial hemp. Industrial hemp helps to reduce the risk of heart issues such as arrhythmias and heart diseases. Industrial hemp also helps to lower the blood pressure levels and reduces the risks of heart failures. The increasing awareness among consumers about their health and well-being is likely to surge the demand for industrial hemp. The paradigm shift among the consumers can be observed during the past few years towards natural products and ingredients, which further aids the growth of industrial hemp market. Apart from the nutritional benefits, the industrial hemp also serves various economic benefits. The industrial hemp is an excellent renewable resource and serves thousands of benefits and applications. The industrial hemp is also used as a raw material in the manufacturing of paper, biodegradable plastics, textiles, construction, fuel and health foods. Rising geriatric population and increasing concerns about skin diseases and UV protection are expected to drive the demand for industrial hemp in the personal care industry.
Benefits of Industrial Hemp in Curing Heart Diseases to Infuse the Overall Market
The global market for industrial hemp can be segmented based on the nature, form and end-use applications. Based on the nature, the global industrial hemp market can be segmented into organic and conventional. Based on the form, the industrial hemp market can be segmented into oil, seeds, hurds and fiber. Based on the applications, the industrial hemp market can be segmented into textiles, personal care, animal care, food & beverage, paper, automotive, construction material, furniture and others. Geographically, the industrial hemp market can be segmented into seven regions: North America, Latin America, Europe, South Asia, East Asia, Oceania and Middle East & Africa.
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Stringent Regulations Governing the Industrial Hemp Market to Impede Market Growth
Europe and East Asia are prominent regions in the global industrial hemp market, as they inhabit a number of key players. Suitable government rules along with the significant demand from consumers also aid the industrial hemp market in both the regions. Owing to the increasing awareness among people about health benefits of industrial hemp and changing government policies & regulations, the market for industrial hemp in North America is likely to expand significantly over the forecast period.
Reintroduction of Industrial Hemp in North America to Boost the Global Market
The major players in the industrial hemp market are using various internal and external strategies to increase the footprint in the global market. Some of the players in the industrial hemp market includes E Hemp, Hemp, Inc., Hemp Production Services Inc., Marijuana Company of America Inc., Manitoba Harvest Hemp Foods, North American Hemp & Grain Co. Ltd., Hemp Sense Inc., Hemp Foods Australia, Hemp Inc., Agropro, Hempro International, Blue Sky Hemp Ventures Ltd., Trigone Foods Inc., Green Source Organics, Hempco Food and Fiber Inc., Cavac Biomateriaux and All American Hemp Company, among others.
The research report presents a comprehensive assessment of the Industrial Hemp market and contains thoughtful insights, facts, historical data and statistically supported and industry-validated market data. It also contains projections using a suitable set of assumptions and methodologies. The research report provides analysis and information according to Industrial Hemp market segments such as buyer type, sales channel, and geographies.
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Industrial Hemp Market Growth with Worldwide Industry Analysis to 2029
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