A recent market intelligence report that is published by Data Insights Partner on the global industrial hemp market makes an offering of in-depth analysis of segments and sub-segments in the regional and international market. The research also emphasizes on the impact of restraints, drivers, and macro indicators on the regional and global industrial hemp market over the short as well as long period of time. A detailed presentation of forecast, trends, and dollar values of the global market is offered. In accordance with the report, the industrial hemp market is projected to expand at a CAGR of 32.17% over the period of forecast.
Market Insight, Drivers, Restraints & Opportunity of the Market:
Cannabis sativa, also called industrial hemp, has often been known for its psychedelic properties. The plant has been gaining popularity in the pharmaceutical, food, textile and personal care industries as researchers discover more and more about its amazing therapeutic and other multipurpose uses. Industrial hemp is a multipurpose crop which has no to little side effects.
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To clear the confusion, industrial hemp and marijuana are not the same. In industrial hemp, the portion of the psychoactive element tetrahydrocannabidiol (THC) is much lower (1%) compared to marijuana (5-20%), and the industrial hemp plant has much higher fibre content. Many parts of the hemp plant can be used for industrial purposes. The fibre, which can grow up to a couple metres metres long, is used to make ropes, paper, stock fodder, animal bedding, hempcrete, artificial sponges, and canvas. Hemp fibre is also used to make bioplastic which is biodegradable and durable, depending on its formulation. The edible seeds can be used to extract oils, milk and powder for health purposes, as they are a rich source of magnesium, vitamins B1, B2, B6 and E, protein and fibre. The plant is quite low-maintenance, as it doesn’t require much water or fertilizers to grow, and grows fast. On the other hand, very few plant sources can provide as much protein content as hemp seeds. As these studies come forth, the legalization of hemp can be a great driver for the industrial hemp market.
In many places globally, there are yet quite strict guidelines regarding the legalization of hemp cultivation, mostly due to the lack of knowledge and enough research about the subject. These stringent measures can prove to be quite tiresome for some manufacturers to comply to. The usages of cannabidiol (CBD) and tetrahydrocannabidiol (THC) in treating various illnesses have not been explored enough. Trading is complicated as regulations vary from state to state, and this is a setback indeed.
However, it is hopeful that the cultivation of hemp is gaining legalization in many places across the world, given for the right reasons. Studies regarding the nature and use of hemp are still going on which further prove its potential as the fuel of the future. Such biofuels are the upcoming thing as petrol and diesel continue to face price hikes, and people seek alternative fuels to stop global warming. Thus, the application of hemp as a biofuel would save much time and prove to be sustainable in the long run.
This market intelligence report on the global industrial hemp market is segmented based on type, source, application, and country/regions.
In terms of type, the global industrial hemp market is segregated into
- Hemp seed
- Hemp seed oil
- CBD hemp oil
- Hemp fibre
By source, the global industrial hemp market is also classified into,
By application, the global industrial hemp market is also classified into,
- Personal care products
By country/region, the global industrial hemp market has been divided into
- North America (the U.S., Canada),
- Latin America (Brazil, Mexico, Argentina and other countries),
- Europe (Germany, France, the U.K., Spain, Italy, Russia, and other countries),
- Asia Pacific (India, Japan, China, Australia and New Zealand and other countries),
- Middle East and Africa (GCC, South Africa, Israel and Other countries).
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Profiling of Market Players:
This business intelligence report offers profiling of reputed companies that are operating in the market. Companies such as
- Hemp Inc
- Hemp Poland
- MH Medical Hemp
- Colorado Hemp Works
- Canah International
- South Hemp Tecno
- Hemp Oil Canada
- HempFlax BV
Other players have been profiled into detail so as to offer a glimpse of the market leaders. Moreover, parameters such as industrial hemp market related investment & spending and developments by major players of the market are tracked in this global report.
In-depth analysis of the micro and macro indicators, market trends, and forecasts of demand is offered by this business intelligence report. Furthermore, the report offers a vivid picture of the factors that are steering and restraining the growth of this market across all geographical segments. In addition to that, Growth Matrix analysis is also provided in the report so as to share insight of the investment areas that new or existing market players can take into consideration. Various analytical tools such as DRO analysis, Porter’s five forces analysis has been used in this report to present a clear picture of the market. The study focuses on the present market trends and provides market forecast from the year 2020-2028. Emerging trends that would shape the market demand in the years to come have been highlighted in this report. A competitive analysis in each of the geographical segments gives an insight into market share of the global players.
Ø This study offers comprehensive yet detailed analysis of industrial hemp market, size of the market (US$ Mn), and Compound Annual Growth Rate (CAGR (%)) for the period of forecast: 2020 – 2028, taking into account 2019 as the base year
Ø It explains upcoming revenue opportunities across various market segments and attractive matrix of investment proposition for the said market
Ø This market intelligence report also offers pivotal insights about various market opportunities, restraints, drivers, launch of new products, competitive market strategies of leading market players, emerging market trends, and regional outlook
Ø Profiling of key market players in the market of industrial hemp is done by taking into account various parameters such as company strategies, distribution strategies, product portfolio, financial performance, key developments, geographical presence, and company overview
Ø Leading market players covered this report comprise names such as HempFlax BV, South Hemp Tecno, Hemp Oil Canada, BAFA, Hemp Poland and many more.
Ø The data of this report would allow management authorities and marketers of companies alike to take informed decision when it comes to launch of products, government initiatives, marketing tactics and expansion, and technical up gradation
Ø The world market for industrial hemp caters to the needs of various stakeholders pertaining to this industry, namely suppliers, manufacturers, investors, and distributors for the market. The research also caters to the rising needs of consulting and research firms, financial analysts, and new market entrants
Ø Research methodologies that have been adopted for the purpose of this study have been clearly elaborated so as to facilitate better understanding of the reports
Ø Reports have been made based on the guidelines as mandated by General Data Protection Regulation
Ø Ample number of examples and case studies has been taken into consideration before coming to a conclusion.
Reasons to buy:
v Identify opportunities and plan strategies by having a strong understanding of the investment opportunities in the industrial hemp market
v Identification of key factors driving investment opportunities in the industrial hemp market
v Facilitate decision-making based on strong historic and forecast data
v Position yourself to gain the maximum advantage of the industry’s growth potential
v Develop strategies based on the latest regulatory events
v Identify key partners and business development avenues
v Respond to your competitors’ business structure, strategy and prospects
v Identify key strengths and weaknesses of important market participants
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