{"id":172942,"date":"2021-11-19T13:43:00","date_gmt":"2021-11-19T13:43:00","guid":{"rendered":"https:\/\/icrowdnewswire.com\/?p=2954903"},"modified":"2021-11-19T13:43:00","modified_gmt":"2021-11-19T13:43:00","slug":"industrial-hemp-market-estimated-at-usd-3780-million-in-2020-is-projected-to-grow-at-a-higher-cagr-of-15-4-during-the-forecast-period","status":"publish","type":"post","link":"https:\/\/ipsnews.net\/business\/2021\/11\/19\/industrial-hemp-market-estimated-at-usd-3780-million-in-2020-is-projected-to-grow-at-a-higher-cagr-of-15-4-during-the-forecast-period\/","title":{"rendered":"Industrial Hemp Market Estimated at USD 3780 Million in 2020, is Projected to Grow at a Higher CAGR of 15.4% During the Forecast Period"},"content":{"rendered":"<p><img decoding=\"async\" width=\"300\" height=\"125\" src=\"https:\/\/icrowdnewswire.com\/wp-content\/uploads\/2021\/11\/3615-Website20Logo-14.png\" class=\"webfeedsFeaturedVisual wp-post-image\" alt=\"3615 Website20Logo 14\" loading=\"lazy\" style=\"display: block; margin-bottom: 5px; clear:both;max-width: 100%;\" link_thumbnail=\"\" title=\"Industrial Hemp Market Estimated at USD 3780 Million in 2020, is Projected to Grow at a Higher CAGR of 15.4% During the Forecast Period 2\"><\/p>\n<p style=\"text-align: justify;\">As per GMI Research recent report the industrial hemp market was valued at over USD 3,780 million in 2020. The market is primarily driven by rising demand of the industrial hemp market is due to the increasing awareness regarding the benefits of hemp seeds among the customers and changes occurred in food habits and growing health concerns.&nbsp;<\/p>\n<p style=\"text-align: justify;\"><a title=\"Request for a free Sample Report on&nbsp;Industrial Hemp Market\" href=\"https:\/\/www.gmiresearch.com\/report\/global-industrial-hemp-market\/sample-request\" target=\"_blank\" rel=\"noopener\"><strong>Request for a free Sample Report on&nbsp;Industrial Hemp Market<\/strong><\/a><\/p>\n<p style=\"text-align: justify;\"><strong>Introduction of the Industrial Hemp Market<\/strong>&nbsp;<\/p>\n<p style=\"text-align: justify;\">Hemp is a type of plant taken from Cannabis sativa. It is mainly used in the industries related to personal care products, food &amp; beverages, paint, food, insulation, biofuel, pharmaceuticals, and animal feed. Hemp seeds are a rich source of two fatty acids, linolenic and linoleic. They are considered a complete source of vitamin E, vitamin B6, vitamin D, vitamin B1, vitamin B2, magnesium, potassium, and calcium. Hence, hemp seeds are amongst the rare plant-based foods that are a whole protein source that can be acknowledged as a value addition for vegetarians.<\/p>\n<p style=\"text-align: justify;\"><strong>Key Players of the Market<\/strong>&nbsp;<\/p>\n<ul style=\"text-align: justify;\">\n<li>Hempco&nbsp;Inc.<\/li>\n<li>Hemp Inc.<\/li>\n<li>Konoplex<\/li>\n<li>Ecofibre<\/li>\n<li>GenCanna<\/li>\n<li>Colorado Hemp Works, LLC<\/li>\n<li>Canah&nbsp;International<\/li>\n<li>Plains Industrial Hemp Processing Ltd.<\/li>\n<li>HempFlax&nbsp;Group B.V.<\/li>\n<li>Dun&nbsp;Agro&nbsp;Hemp Group<\/li>\n<\/ul>\n<p style=\"text-align: justify;\"><strong>Industrial Hemp Market Dynamics<\/strong>&nbsp;<\/p>\n<p style=\"text-align: justify;\">The growing legalization to cultivate industrial hemp in many countries, growing awareness towards the advantages of hemp seed oil and hemp seed, increasing use of hemp in numerous food applications, and the rising number of chronic diseases are the significant factors bolstering the&nbsp;growth of the global <a title=\"Industrial Hemp market\" href=\"https:\/\/www.gmiresearch.com\/report\/global-industrial-hemp-market\/\" target=\"_blank\" rel=\"noopener\"><strong>Industrial Hemp market<\/strong><\/a>. Therefore, consumers are frequently choosing industrial hemp due to its easy approachability will boom the growth of&nbsp;<strong>industrial hemp market size.<\/strong>&nbsp;Constant technological progress and the enlargement in product offerings are bringing multiple growth opportunities to the market.<\/p>\n<p style=\"text-align: justify;\">Germany and the Netherlands are massively spending on R &amp;D activities. Moreover, as per the&nbsp;<strong>global industrial hemp market forecast<\/strong>, quick changes in food patterns and increasing health concerns will further strengthen the market growth. Hemp seeds offer several health advantages, like incredibly nutritious, reducing the risk of heart diseases, relieving dry skin, improving blood levels of fatty acids, decreasing PMS and Menopause symptoms, and others, which will positively impact the market growth. In addition, the booming need for printing inks, oil paints, solvents, varnishes, chain-saw lubricants, putty, and coating&nbsp;is&nbsp;another constituent steering demand for the market. On the other hand, according to the&nbsp;<strong>industrial hemp market report<\/strong>, the rising number of complex regulatory structures associated with industrial hemp usage will likely hinder the market growth.<\/p>\n<p style=\"text-align: justify;\"><strong>Industrial Hemp Market Segmentation<\/strong>&nbsp;<\/p>\n<p style=\"text-align: justify;\"><strong>Source Type Market Drivers<\/strong>&nbsp;<\/p>\n<p style=\"text-align: justify;\">Based on the Source, the conventional segment is predicted to rise at a faster CAGR during the forecast period due to conventional hemp&#8217;s low costs than the organic source, coupled with the growing use of conventional hemp in construction and material. Hence, the furniture and automotive industries are forecasted to propel the segment growth in the coming years.&nbsp;<\/p>\n<p style=\"text-align: justify;\"><strong>Type Market Drivers<\/strong>&nbsp;<\/p>\n<p style=\"text-align: justify;\">Based on the Type, the hemp fiber segment is expected to rule the market during the forecast period. The growing utilization of hemp fiber in different industries, including animal bedding, agriculture, furniture, construction, and automobile, will fuel the segment&#8217;s growth. Furthermore, the application of hemp fiber to acquire bioplastics and biofuels will further drive the demand over the forecast period.&nbsp;<\/p>\n<p style=\"text-align: justify;\"><strong>Application Market Drivers<\/strong>&nbsp;<\/p>\n<p style=\"text-align: justify;\">Based on the Application, the food segment is foreseen to increase at a tremendous CAGR during the forecast period attributed to the extensive application of hemp seed oil, as it is a rich source of protein, vitamin, and omega-3 fatty acid. Moreover, rising consumer perception about the benefits of consuming hemp-based products is fueling the market growth.&nbsp;<\/p>\n<p style=\"text-align: justify;\"><strong>Geographical Drivers<\/strong>&nbsp;<\/p>\n<p style=\"text-align: justify;\">Based on the region, the Asia Pacific region is estimated to lead the industrial hemp market over the forecast period due to the rising production and consumption of hemp fiber in the paper and textile paper industry. Furthermore, the legalization of industrial hemp in food additions is driving market growth in the region. On the other edge of the spectrum, the European region is expected to grow at a faster CAGR due to the increasing consumption of hemp seeds encouraged by its growing use in multiple food products such as cereals, smoothies, yogurt, and bars, especially in&nbsp;economies, like Germany and the Netherlands.&nbsp;<\/p>\n<p style=\"text-align: justify;\"><strong>Industrial Hemp Market Segmentation<\/strong>&nbsp;<\/p>\n<p style=\"text-align: justify;\"><strong>Market Segmentation by Source<\/strong>&nbsp;<\/p>\n<ul style=\"text-align: justify;\">\n<li>Organic<\/li>\n<li>Conventional<\/li>\n<\/ul>\n<p style=\"text-align: justify;\"><strong>Market Segmentation by Type<\/strong>&nbsp;<\/p>\n<ul style=\"text-align: justify;\">\n<li>Hemp Seed<\/li>\n<li>Hemp Seed Oil<\/li>\n<li>Hemp Fiber<\/li>\n<li>CBD Hemp Oil<\/li>\n<\/ul>\n<p style=\"text-align: justify;\"><strong>Market Segmentation by Application<\/strong>&nbsp;<\/p>\n<ul style=\"text-align: justify;\">\n<li>Food<\/li>\n<li>Beverages<\/li>\n<li>Personal Care Products<\/li>\n<li>Textiles<\/li>\n<li>Pharmaceuticals<\/li>\n<li>Others<\/li>\n<\/ul>\n<p style=\"text-align: justify;\"><strong>Market Segmentation by Region<\/strong><\/p>\n<p style=\"text-align: justify;\"><strong>North America&nbsp;<\/strong><\/p>\n<ul style=\"text-align: justify;\">\n<li>US&nbsp;<\/li>\n<li>Canada<\/li>\n<\/ul>\n<p><strong>Europe&nbsp;<\/strong><\/p>\n<ul style=\"text-align: justify;\">\n<li>Europe&nbsp;<\/li>\n<li>UK&nbsp;<\/li>\n<li>Germany<\/li>\n<li>France&nbsp;<\/li>\n<li>Spain&nbsp;<\/li>\n<li>Rest of Europe<\/li>\n<\/ul>\n<p><strong>Asia-Pacific&nbsp;<\/strong><\/p>\n<ul style=\"text-align: justify;\">\n<li>China&nbsp;<\/li>\n<li>India&nbsp;<\/li>\n<li>Japan&nbsp;<\/li>\n<li>Rest of APAC&nbsp;<\/li>\n<\/ul>\n<p><strong>RoW&nbsp;<\/strong><\/p>\n<ul style=\"text-align: justify;\">\n<li>South Africa&nbsp;<\/li>\n<li>Saudi Arabia&nbsp;<\/li>\n<li>UAE&nbsp;<\/li>\n<li>Rest of world&nbsp;<\/li>\n<\/ul>\n<p style=\"text-align: justify;\"><strong>About GMI Research<\/strong>&nbsp;<\/p>\n<p style=\"text-align: justify;\"><strong><a title=\"GMI Research\" href=\"https:\/\/www.gmiresearch.com\/\" target=\"_blank\" rel=\"noopener\">GMI Research<\/a><\/strong> is a market research and consulting firm which provides market insights and intelligence across 12 major sectors helping our clients in making effective investment and business decisions.<\/p>\n<p class=\"tags\">Tags: <a href=\"https:\/\/icrowdnewswire.com\/tag\/industrial-hemp-market-size\/\" rel=\"tag noopener\" target=\"_blank\">Industrial Hemp \u00a0Market Size<\/a>, <a href=\"https:\/\/icrowdnewswire.com\/tag\/industrial-hemp-market-report\/\" rel=\"tag noopener\" target=\"_blank\">Industrial Hemp \u00a0Market Report<\/a>, <a href=\"https:\/\/icrowdnewswire.com\/tag\/industrial-hemp-market\/\" rel=\"tag noopener\" target=\"_blank\">Industrial Hemp Market<\/a>, <a href=\"https:\/\/icrowdnewswire.com\/tag\/global-industrial-hemp-market\/\" rel=\"tag noopener\" target=\"_blank\">global Industrial Hemp market<\/a>, <a href=\"https:\/\/icrowdnewswire.com\/tag\/global-industrial-hemp-market-forecast\/\" rel=\"tag noopener\" target=\"_blank\">global industrial hemp market forecast<\/a> <\/p>\n<div><strong>See Campaign: <\/strong><a href=\"https:\/\/www.gmiresearch.com\/report\/global-industrial-hemp-market\/\" target=\"_blank\" rel=\"noopener\">https:\/\/www.gmiresearch.com\/report\/global-industrial-hemp-market\/<\/a><br \/><b>Contact Information:<\/b><br \/>Company Name: GMI RESEARCH Contact Person: Sarah Nash Email: enquiry@gmiresearch.com Phone: Europe \u2013 +353 1 442 8820; US \u2013 +1 860 881 2270 Address: Dublin, Ireland Website: www.gmiresearch.com<\/p>\n<p><b>Tags:<\/b><br \/><a href=\"https:\/\/icrowdnewswire.com\/category\/menafn\/\" rel=\"category tag noopener\" target=\"_blank\">Menafn<\/a>, <a href=\"https:\/\/icrowdnewswire.com\/category\/ips\/\" rel=\"category tag noopener\" target=\"_blank\">IPS<\/a>, <a href=\"https:\/\/icrowdnewswire.com\/category\/pr-wirein\/\" rel=\"category tag noopener\" target=\"_blank\">PR-Wirein<\/a>, <a href=\"https:\/\/icrowdnewswire.com\/category\/news-category\/research-newswire\/\" rel=\"category tag noopener\" target=\"_blank\">Research Newswire<\/a>, <a href=\"https:\/\/icrowdnewswire.com\/category\/language\/english\/\" rel=\"category tag noopener\" target=\"_blank\">English<\/a><\/p>\n<\/div>\n<div>\n<h3>Contact Information:<\/h3>\n<p>Company Name: GMI RESEARCH<br \/> Contact Person: Sarah Nash<br \/> Email: enquiry@gmiresearch.com<br \/> Phone: Europe \u2013 +353 1 442 8820; US \u2013 +1 860 881 2270<br \/> Address: Dublin, Ireland<br \/> Website: www.gmiresearch.com<\/p>\n<\/p>\n<\/div>\n","protected":false},"excerpt":{"rendered":"<p>As per GMI Research recent report the industrial hemp market was valued at over USD 3,780 million in 2020. The market is primarily driven by rising demand of the industrial hemp market is due to the increasing awareness regarding the benefits of hemp seeds among the customers and changes occurred in food habits and growing [&hellip;] <a href=\"https:\/\/ipsnews.net\/business\/2021\/11\/19\/industrial-hemp-market-estimated-at-usd-3780-million-in-2020-is-projected-to-grow-at-a-higher-cagr-of-15-4-during-the-forecast-period\/\" class=\"more-link\">Continue Reading <span class=\"meta-nav\">&rarr;<\/span><\/a><\/p>\n","protected":false},"author":291,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[20],"tags":[],"class_list":["post-172942","post","type-post","status-publish","format-standard","hentry","category-press-release"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v24.9 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Industrial Hemp Market Estimated at USD 3780 Million in 2020, is Projected to Grow at a Higher CAGR of 15.4% During the Forecast Period - Business<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"http:\/\/ipsnews.net\/business\/2021\/11\/19\/industrial-hemp-market-estimated-at-usd-3780-million-in-2020-is-projected-to-grow-at-a-higher-cagr-of-15-4-during-the-forecast-period\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Industrial Hemp Market Estimated at USD 3780 Million in 2020, is Projected to Grow at a Higher CAGR of 15.4% During the Forecast Period - Business\" \/>\n<meta property=\"og:description\" content=\"As per GMI Research recent report the industrial hemp market was valued at over USD 3,780 million in 2020. 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The market is primarily driven by rising demand of the industrial hemp market is due to the increasing awareness regarding the benefits of hemp seeds among the customers and changes occurred in food habits and growing [&hellip;] Continue Reading &rarr;","og_url":"http:\/\/ipsnews.net\/business\/2021\/11\/19\/industrial-hemp-market-estimated-at-usd-3780-million-in-2020-is-projected-to-grow-at-a-higher-cagr-of-15-4-during-the-forecast-period\/","og_site_name":"Business","article_published_time":"2021-11-19T13:43:00+00:00","og_image":[{"url":"https:\/\/icrowdnewswire.com\/wp-content\/uploads\/2021\/11\/3615-Website20Logo-14.png","type":"","width":"","height":""}],"author":"iCrowdNewswire","twitter_card":"summary_large_image","twitter_misc":{"Written by":"iCrowdNewswire","Est. reading time":"5 minutes"},"schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"WebPage","@id":"http:\/\/ipsnews.net\/business\/2021\/11\/19\/industrial-hemp-market-estimated-at-usd-3780-million-in-2020-is-projected-to-grow-at-a-higher-cagr-of-15-4-during-the-forecast-period\/","url":"http:\/\/ipsnews.net\/business\/2021\/11\/19\/industrial-hemp-market-estimated-at-usd-3780-million-in-2020-is-projected-to-grow-at-a-higher-cagr-of-15-4-during-the-forecast-period\/","name":"Industrial Hemp Market Estimated at USD 3780 Million in 2020, is Projected to Grow at a Higher CAGR of 15.4% During the Forecast Period - 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