New York, According to a new market research report published by Global Insight Services “Industrial Hemp Market” is expected to reach US$ XX bn by 2031. Report includes in-depth segmentation and market size data by categories, product types, applications, and geographies. Report also includes comprehensive analysis of key issues, trends and drivers, restraints and challenges, competitive landscape, as well as recent events such as M&A activities in the market.
Industrial hemp, sometimes known as hemp, is a type of Cannabis sativa plant that is grown specifically for commercial purposes. Industrial hemp is a low-cost, fast-growing plant that is also environmentally benign. It is also one of the world’s most versatile and long-lasting crops.
The market is being driven by an increase in demand for industrial hemp from businesses such as food and beverage, personal care, and animal care all around the world. Consumer awareness of the benefits of industrial hemp is expected to grow, as is legalization of industrial hemp cultivation in many countries. Industrial hemp is also being used in a variety of industries, including textiles, pharmaceuticals, food, beverage, personal care, construction & material, furniture, and paper.
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The rising consumption of hemp-based products due to its different health advantages and higher occurrences of ailments such as epilepsy and other sleep disorders are contributing to the market’s growth. The complex legal system for the use of industrial hemp in many nations, on the other hand, is projected to stifle the product’s market expansion.
COVID-19 Impact Analysis:
With the abrupt breakout of the COVID-19 pandemic, a large number of countries enforced lockdowns and curfews, which had a significant influence on people’s lifestyles, health, and well-being, as well as manufacturing industries, limiting the expansion of the industrial hemp industry.
Key Trends and Drivers:
- Only small levels of tetrahydrocannabinol (THC) are found in hemp seeds produced from the plant “Cannabis sativa” . They are high in linoleic (omega-6) and linolenic (omega-3) essential fatty acids (omega-3).
- Hemp seeds have enough protein to be considered a valuable complement to a vegan diet, unlike most other plant-based foods, making it unique.
- Industrial hemp is a tough, durable natural fiber with little elasticity. Hemp fiber has the highest heat capacity ratio of all natural fibers and has excellent heat insulation.
Key Players:
- Hempco
- Ecofibre
- Hemp Inc
- Gencanna
- Aurora Cannabis Inc.
- Agropro
- Manitoba Harvest Hemp Foods
- Hempro International
- Green Source Organics
- Hemp Foods Australia
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Reasons to buy Industrial Hemp Market Report:
• Develop comprehensive understanding of market landscape – industry structure, value-chain, key players, trends, drivers, and challenges
• Drive revenue and market-entry strategy by gaining insights into which segments and geographies are largest and likely to grow fastest
• Formulate sales and marketing strategies by gaining understanding of competitors, their positioning, and strengths & weaknesses
• Develop business and M&A strategies through understanding of latest trends and emerging players in the market
• Refine your business plans by understanding impact of disruptions such as Covid-19 and Russia-Ukraine conflict on the market
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