Industrial Hemp Market 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.
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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.
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.
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Segmentation:
By Type
- Hemp seed
- Hemp seed oil
- CBD hemp oil
- Hemp fiber
By Application
- Food
- Snacks & cereals
- Soup, sauces, and seasonings
- Bakery
- Diary & frozen desserts
- Others (cold cereals, pasta, chocolate spreads, and pet food)
- Beverages
- Hot beverages
- Sports & energy drinks
- Ready to drink
- Others (meal replacement drinks, beverage mixes, beverage concentrates, and juice drinks)
- Personal care products
- Textiles
- Pharmaceuticals
By Source
- Conventional
- Organic
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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