iCrowd Newswire
15 Jan 2022, 04:32 GMT+10
According to a new report published by Allied Market Research, titled, "Industrial Hemp Market by Type, Application, and Source: Opportunity Analysis and Industry Forecast, 2021–2027," The global industrial hemp market size was valued at $4.9 billion in 2019, and is projected to reach $18.6 billion by 2027, registering a CAGR of 22.4% from 2021 to 2027.
Hemp seeds or industrial hemp is obtained from "Cannabis sativa" which contains only traces of tetrahydrocannabinol (THC). Hemp seeds are especially grown for commercial use and it is used in wide range of products. Hemp seeds are rich in two essential fatty acids, linolenic (omega-3) and linoleic (omega-6). They are also rich source of vitamin B1, vitamin B2, vitamin B6, vitamin D, vitamin E, magnesium, calcium and potassium among others. Moreover, very rare plant-based foods are a complete source of protein, hemp seeds on the other hand possess descent amount of protein that can be considered as a value addition to a vegan diet. Since, the humans cannot generate essential fatty acids, the addition of hemp seeds in food application will be useful as they are a rich source of linoleic (omega-6) and linolenic (omega-3). Furthermore, hemp seeds can be used to produce a variety of food products such as hemp milk, hemp oil, hemp cheese substitutes and hemp-based protein powder. Thus, owing to rich source of protein and vitamin hemp seed are used in food and beverages which further fuels the growth of industrial hemp market.
Request The Sample: https://www.alliedmarketresearch.com/request-sample/9049
The raising legalization of the cultivation of hemp is encouraging the producer and research institution to develop new products from industrial hemp. In addition, legalization and increased production of hemp oil may improve the cost of producing hemp oil and subsequently hemp biodiesel. Biofuels is one such application, which is anticipated to have crucial growth potential in the upcoming years. Continuous rise in the price of oil (petrol & diesel), along with the raising concerns about global warming, biofuels have been gaining popularity. Moreover, hemp seed extracts are used to produce hemp biodiesel, which can be used any diesel operated vehicle. Furthermore, industrial hemp can be used to produce ethanol, which is currently processed from food crops like corn and wheat. This process will result in increased efficiency of food production. Thus, raising new product development from hemp is becoming the current industrial hemp market trends.
COVID-19 was declared a pandemic by the World Health Organization (WHO) on March 11, 2020. The COVID-19 pandemic has had a significant impact on the industrial hemp market, due to import and export restrictions on hemps and its related products. In addition, lockdown measures imposed by governments are key challenges exporters face in North America and Asian markets, as they disrupt global supply chain.
Get detailed COVID-19 impact analysis on the Industrial Hemp Market: https://www.alliedmarketresearch.com/request-for-customization/9049?reqfor=covid
Industrial hemp creates one of the most eco-friendly fabrics in the world owing to which hemp fiber is also called as fiber of hundred uses. Moreover, pure hemp has a texture which is similar to linen and because of its flexibility it used in variety of products such as from clothing to home wares, shoes, accessories, dog collars and others.
The market has been segmented based on type, application, source and region. Based on type, the market is segmented into hemp seed, hemp oil, hemp fiber and others. Based on application the global market is studied across food and beverages, textiles, personal care products, pharmaceuticals and others. On the basis of source, the market is categorized into conventional and organic. Region wise, the market is studied across North America, Europe, Asia-Pacific, and LAMEA.
Key Findings Of The Study
By type, the hemp oil segment dominated the global market in 2019, and is expected to retain its dominance throughout the forecast period.By application, the personal care products segment accounted for highest share in the industrial hemp market growth in 2019, and is projected to grow at a CAGR of 19.6% from 2021 to 2027.By source, the conventional segment led the global demand in 2019, and is expected to retain its dominance throughout the industrial hemp market forecast period.By region, Asia-Pacific accounted for highest industrial hemp market share in 2019, and is expected to grow at a CAGR of 20.4%.
Buy The Report: https://www.alliedmarketresearch.com/checkout-final/4473c855588daa0eb98d5ad3487e28e8
The key players profiled in the industrial hemp industry includes Hempco Food and Fiber Inc., Ecofibre, Hemp Inc., GenCanna, HempFlax Group B.V., The Konoplex Group, South Hemp, Plains Industrial Hemp Processing Ltd., MH medical hemp and Hempro International GmbH & Co. KG.
Similar Reports:
Water enhancers MarketWheat Flour Market
Tags: Industrial Hemp Market, Industrial Hemp Market Share, Industrial Hemp Market Size, Industrial Hemp, Industrial Hemp Market CAGR
See Campaign: https://www.alliedmarketresearch.com/industrial-hemp-market-A08684Contact Information:David Correa
5933 NE Win Sivers Drive
#205, Portland, OR 97220
United States
USA/Canada (Toll Free):
+1-800-792-5285, +1-503-894-6022, +1-503-446-1141
UK: +44-845-528-1300
Hong Kong: +852-301-84916
India (Pune): +91-20-66346060
Fax: +1(855)550-5975
[email protected]:Menafn, Reportedtimes, canadatousd, PR-Wirein, Empirits, Healthfirsto, Fexti, lebc, Dthai, Research Newswire, English
Get a daily dose of Denver Sun news through our daily email, its complimentary and keeps you fully up to date with world and business news as well.
Publish news of your business, community or sports group, personnel appointments, major event and more by submitting a news release to Denver Sun.
More InformationWASHINGTON, D.C.: President Donald Trump will meet Israeli Prime Minister Benjamin Netanyahu at the White House on Monday. President...
GENEVA, Switzerland: A new United Nations report alleges that dozens of global corporations are profiting from and helping sustain...
LONDON, UK - Lawmakers in the United Kingdom have voted overwhelmingly to proscribe the direct-action group Palestine Action as a terrorist...
DHARAMSHALA, India: The Dalai Lama is set to address a significant three-day conference of Buddhist leaders this week, coinciding with...
WASHINGTON, D.C.: In a significant ruling last week, the U.S. Supreme Court upheld a Texas law requiring age verification for users...
ISTANBUL/PARIS/BRUSSELS: As searing temperatures blanket much of Europe, wildfires are erupting and evacuation orders are being issued...
WASHINGTON, DC - U.S. President Donald Trump on Tuesday claimed Elon Musk's success has been built on government subsidies. Without...
DOVER, Delaware: California Governor Gavin Newsom has taken legal aim at Fox News, accusing the network of deliberately distorting...
Bengaluru (Karnataka) [India], July 1 (ANI): Empire FC has scripted a dream season by clinching the Bengaluru District FA 'C' Division...
ABU DHABI, 2nd June, 2025 (WAM) - The United Arab Emirates has condemned in the strongest terms the terrorist attack that occurred...
DENVER (CN) - When Tanya Wilson's mother died, she and her brother took seriously their responsibility to send off Yong Anderson into...
Ahead of the 50th season in Seahawks history, were looking at the best player in team history to wear every number. John Boyle ...