The global Industrial Hemp Market size was estimated at USD 11,380 million in
2024 and is projected to reach USD 43,945.7 million in 2031 at a CAGR of 21.29
% during the forecast period 2025-2031.
The industrial hemp
market is an expanding sector within the global agricultural and manufacturing
industries, centred on the cultivation of hemp plants for various industrial
applications. Industrial hemp is a versatile crop, known for its strong fibers
and seeds, which can be processed into a wide range of products, including
textiles, bioplastics, construction materials, food, and health supplements. As
a non-psychoactive variety of the cannabis plant, it has gained recognition for
its sustainability and eco-friendly properties, making it an attractive
alternative to traditional raw materials in numerous industries.
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Recent trends in the industrial hemp market include advancements in
cultivation techniques and processing technologies aimed at improving product
quality and reducing costs. Hemp-based materials are increasingly being
incorporated into high-performance products, such as biodegradable plastics and
carbon-neutral construction materials, which align with the global shift
towards sustainability. Moreover, the wellness and nutraceutical industries are
seeing significant growth in the use of hemp-derived products, such as CBD oil,
which are marketed for their potential health benefits.
Recent Developments
·
In October 2024, Canopy Growth Corporation acquired
Wana, which includes Wana Wellness, LLC, The CIMA Group, LLC, and Mountain High
Products, LLC. As a result of this acquisition, Canopy USA now fully owns
Wana’s equity interests. This move strengthens the company’s position in
building a leading brand-focused cannabis business in the U.S.
·
In October 2024, Aurora Cannabis Inc. expanded its
range of premium medical cannabis oils in Australia in collaboration with
MedReleaf Australia. The new products, designed to address diverse patient
needs, include Aurora THC 25 (Sativa), Aurora THC 25 (Indica), Aurora 12.5:12.5
oil, Aurora 50:50 oil, and Aurora 10:100 oil, all available in 30 ml bottles
for physician prescriptions.
·
In June 2024, Curaleaf Holdings, Inc. introduced new
hemp-derived THC products under its Select and Zero Proof brands. These
products will be available in 25 states and the District of Columbia through
direct-to-consumer delivery and Curaleaf’s national distribution network.
·
In May 2024, The Cronos Group teamed up with GROW
Pharma, a leading medicinal cannabis distributor in the UK, to expand its PEACE
NATURALS brand into the UK market. This partnership will allow Cronos to supply
premium, high-quality cannabis products, providing UK patients access to the
globally recognized PEACE NATURALS brand.
Top Key Players
·
Curaleaf Holdings, Inc.
·
Green Thumb Industries
·
Canopy Growth Corporation
·
AURORA CANNABIS INC.
·
The Cronos Group
·
Ecofibre Ltd
·
HempFlax Group B.V.
·
Dun Agro Hemp Group
·
Fresh Hemp Foods Ltd.
·
GenCanna
·
Konoplex Group
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Asia Pacific to Dominate the Market
·
Asia Pacific is a leading consumer of industrial
hemp, holding a significant share of the global market. Countries like China,
India, Japan, Korea, Australia, New Zealand, and Thailand are deeply engaged in
the production and consumption of various industrial hemp products, including
fiber, seed, hurds, and oil. As global demand for these products increases,
along with advancements in harvesting technologies and innovations, the
region's hemp production is evolving.
The Industrial Hemp
Market Segmentation:
Based on Type
·
Hemp Seed
·
Hemp Seed Oil
·
CBD Hemp Oil
·
Hemp Bast
·
Hemp Hurd
Based on Source
·
Conventional
·
Organic
Based on Application
·
Food & Beverages
·
Textiles
·
Pharmaceuticals
Based on region:
·
Asia Pacific
·
North America
·
Europe
·
South America
·
Middle East & Africa
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Frequently Asked
Questions
·
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Market intelligence report?
·
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Industrial Hemp Market?
·
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Hemp Market?
·
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Market?
·
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In addition to the market data for the Industrial Hemp Market, Delvens
offers client-centric reports customized according to the company’s specific
demand and requirements.
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