Hemp-Based Product Demand is Anticipated to Account for a Sales revenue of US$ 16.2 Billion by 2033

The global market for hemp-based products is expected to account for a value of US$ 1.8 billion in 2023 and jump to a size of US$ 16.2 billion by the end of 2033. Sales of hemp-based products are projected to skyrocket at a CAGR of 24.5% from 2023 to 2033.

The legalization of hemp product sales and hemp farming in several countries across the world is a prominent factor that is expected to drive the shipments of hemp-based products over the coming years. New regulations and norms implemented by governments of different countries will crucially determine the future of hemp-based product demand.

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Competitive Landscape

Key hemp-based product companies are expected to expand their hemp product portfolio to gain a competitive edge over other market players and diversify their offerings to different regions where hemp and marijuana are being legalized.

  • In August 2022, BioLife Sciences Inc., a leading name in disruptive technologies for healthcare, beauty, food & beverage sectors announced the launch of its first cannabinoid consumer products. The company offered six definite industrial hemp-based tincture formulations that were driven by the acquisition of Health Box LLC in early 2022.
  • In August 2022, TagZ Foods, a snack food company in India announced the launch of hemp-based cookies as a part of its aggressively increasing product offerings. The products are available on Swiggy Instamart and the company’s portal for sales.

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Key Companies Profiled:

  • Hempro International
  • Tilray Inc.
  • GFR Ingredients
  • Blue Sky Hemp Ventures Ltd.
  • Hemp Foods Australia Pty Ltd.
  • Aurora Cannabis Inc.
  • Marijuana Company of America Inc.
  • Naturally Splendid Enterprises Ltd.
  • Isodiol International Inc.
  • Green Source Organics

Key Segments of Hemp-based Products Industry Research

  • By Product :
    • Food
      • Beverages
      • Edibles
    • Health Care
      • Hemp Oil
      • Medicinal Drugs
      • Supplements & Protein
    • Cosmetics, Personal & Skin Care
    • Fibers
      • Raw Fibers
      • Fiber-reinforced plastic
    • Others
  • By Application :
    • Personal
    • Industrial
  • By Sales Channel :
    • Offline
    • Online

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Key Questions Covered in the Hemp-based Products Market Report:

  • What is the projected value of the Hemp-based Products factors Industry in 2023?
  • At what rate will the global Hemp-based Products factors market size grow until 2033?
  • Which are the factors hampering the growth of Hemp-based Products factors?
  • Which region is expected to lead in the global Hemp-based Products factors market by 2033?
  • Which are the factors driving the Hemp-based Products factors Industry during the forecast period?
  • What is the expected market value of the Hemp-based Products factors market during the forecast period?

Regional Analysis for Hemp-based Products Market:

  • APAC (Japan, China, South Korea, Australia, India, and the rest of APAC; the rest of APAC is further segmented into Malaysia, Singapore, Indonesia, Thailand, New Zealand, Vietnam, and Sri Lanka)
  • Europe (Germany, UK, France, Spain, Italy, Russia, Rest of Europe; Rest of Europe is further segmented into Belgium, Denmark, Austria, Norway, Sweden, Netherlands, Poland, Czech Republic, Slovakia, Hungary, and Romania)
  • North America (USA, Canada and Mexico)
  • South America (Brazil, Chile, Argentina, Rest of South America)
  • MEA (Saudi Arabia, United Arab Emirates, South Africa)

What makes Fact.MR report stand out from others?

  • Fact.MR follows a six-point mechanism known as E.V.O.L.V.E. (Evaluate. Visualize. Overcome. Leverage. Verify. Eradicate.). The report is specially created to assess the COVID-19 impact on the Hemp-based Products industry. This mechanism focuses on almost all the factors in a definite manner to provide the best research report for the industry stakeholders.
  • Evaluate: A Fact.MR report evaluates every small aspect that can prove to be a growth generator for the Hemp-based Products industry, thus, making it different and special from other reports.
  • Visualize: The authors involved in the research activities visualized the post-COVID-19 era so that the key stakeholders of industry get an overview and helps them take certain steps to ensure continuous growth during the forecast period.
  • Overcome: The report scrutinizes on points that can prove to be an Achilles heel to the Hemp-based Products industry and assists to create strategies to overcome the obstacles that may hinder the growth of the Hemp-based Products industry.
  • Leverage: The Hemp-based Products industry can leverage certain aspects that can prove beneficial for the increase in growth rate. Fact.MR covers all the points on which the key stakeholders can leverage upon.
  • Verify: Research is done systematically to assure validation of all the aspects covered in the report. All the points are rechecked and verified thoroughly to avoid flaws and fake information.
  • Eradicate: Last but not the least, this aspect helps the key stakeholder eradicate all the obstacles that come between the growth rate and the Hemp-based Products industry.

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