Market Definition
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 the 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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Market Dynamics
- 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.
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Research Objectives
- Estimates and forecast the overall market size for the total market, across product, service type, type, end-user, and region
- Detailed information and key takeaways on qualitative and quantitative trends, dynamics, business framework, competitive landscape, and company profiling
- Identify factors influencing market growth and challenges, opportunities, drivers, and restraints
- Identify factors that could limit company participation in identified international markets to help properly calibrate market share expectations and growth rates
- Trace and evaluate key development strategies like acquisitions, product launches, mergers, collaborations, business expansions, agreements, partnerships, and R&D activities
- Thoroughly analyze smaller market segments strategically, focusing on their potential, individual patterns of growth, and impact on the overall market
- To thoroughly outline the competitive landscape within the market, including an assessment of business and corporate strategies, aimed at monitoring and dissecting competitive advancements.
- Identify the primary market participants, based on their business objectives, regional footprint, product offerings, and strategic initiatives
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Market Segments
The Industrial Hemp Market has been segmented into Type, Application, Source, and Region. Based on the Type, the Industrial Hemp Market is segmented into Hemp Seed, Hemp Seed Oil, CBD Hemp Oil, and Hemp Fiber. Based on Application, the market is segmented into Food, Beverages, Personal Care Products, Textiles, and Pharmaceuticals. Based on Source, the market is bifurcated into Conventional and Organic. Region-wise, the market is analyzed across North America, Europe, Asia-Pacific, and the Rest of the World.
Key Player
Some major key players in the Industrial Hemp Market are Hempco (Canada), Ecofibre (Australia), Hemp Inc (US), Gencanna (US), Aurora Cannabis Inc. (Canada), Agropro (Argentina), Manitoba Harvest Hemp Foods (Canada), Hempro International (Germany), Green Source Organics (US), and Hemp Foods Australia (Australia).
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Research Scope
- Scope – Highlights, Trends, Insights. Attractiveness, Forecast
- Market Sizing – Product Type, End User, Offering Type, Technology, Region, Country, Others
- Market Dynamics – Market Segmentation, Demand and Supply, Bargaining Power of Buyers and Sellers, Drivers, Restraints, Opportunities, Threat Analysis, Impact Analysis, Porter 5 Forces, Ansoff Analysis, Supply Chain
- Business Framework – Case Studies, Regulatory Landscape, Pricing, Policies and Regulations, New Product Launches. M&As, Recent Developments
- Competitive Landscape – Market Share Analysis, Market Leaders, Emerging Players, Vendor Benchmarking, Developmental Strategy Benchmarking, PESTLE Analysis, Value Chain Analysis
- Company Profiles – Overview, Business Segments, Business Performance, Product Offering, Key Developmental Strategies, SWOT Analysis
- Forecast Period – 2024-2033
- Base Year – 2023
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