123ArticleOnline Logo
Welcome to 123ArticleOnline.com!
ALL >> Food,-Cooking-and-Drink >> View Article

Increase In Legalization Of Hemp Cultivation And Projected Boost In Consumption Of Hemp In Various Industrial Applications

Profile Picture
By Author: MarketsandMarkets
Total Articles: 281
Comment this article
Facebook ShareTwitter ShareGoogle+ ShareTwitter Share

Industrial hemp is defined as “the plant Cannabis sativa L. and any part of such plant, whether growing or not, with a delta-9 tetrahydrocannabinol (THC) concentration of not more than 0.3% on a dry weight basis,” according to US Farm Bill 2014. Rising awareness among the consumers about the benefits of industrial hemp, increasing legalization to cultivate industrial hemp in many countries, and rising application of industrial hemp in diverse industries such as textile, pharmaceutical, food, beverage, personal care, construction & material, furniture, and paper is expected to drive the market for industrial hemp.

The industrial hemp market is projected to grow at a CAGR of 34% from USD 4.6 billion in 2019 to USD 26.6 billion by 2025. The growth of this market is attributed to the increased consumption of hemp-based products due to their various health benefits and increased incidences of diseases such as epilepsy and other sleep disorders. However, the complex regulatory structure for the usage of industrial hemp in different countries is expected to hinder the market growth of industrial hemp.

Download ...
... PDF brochure: https://www.marketsandmarkets.com/pdfdownloadNew.asp?id=84188417

Hemp fiber dominated the market for industrial hemp, by type, in terms of value, in 2018. Hemp fiber is majorly used in the textile and pulp & paper industry, due to its long and robust fibers as compared to cotton. Furthermore, being a renewable source material, its application has been increasing in many diverse industries such as construction, animal bedding, agriculture, furniture, and automobile. Additionally, its usage to obtain biofuels and bioplastics has been expected to increase its demand in the coming years. CBD hemp oil is projected to be the fastest-growing type, owing to its role in preventing conditions such as anxiety, depression, pain, and acne. Furthermore, the growing application of CBD hemp oil in personal care products, health supplements, and food & beverages is expected to drive the market for this type.

The industrial hemp market, by application, was dominated by the food segment in 2018, owing to the wide application of hemp seeds and hemp seed oil, due to their rich vitamin, protein, and omega-3 fatty acid content. Hemp seeds are consumed raw or are being used as a topping in cereals, smoothies, and yogurt. Rising consumer awareness about the benefits of consuming hemp-based products is driving the market for its application in food.

The European region is projected to be the fastest-growing region in the industrial hemp market during the forecast period owing to growth in consumption of hemp seeds as food as well as their wide application in other food products such as smoothies, yogurt, cereals, and bars especially in countries such as Germany and the Netherlands. Furthermore, increasing legalization of industrial hemp in the European region in the coming years is expected to boost the industrial hemp market.

Make an Inquiry: https://www.marketsandmarkets.com/Enquiry_Before_BuyingNew.asp?id=84188417

Major vendors in the industrial hemp market include Hempco (Canada), Ecofibre (Australia), Hemp Inc. (US), GenCanna (US), HempFlax BV (Netherlands), Konoplex Group (Russia), Hemp Oil Canada (Canada), BAFA (Germany), Hemp Poland (Poland), Dun Agro (Netherlands), Colorado Hemp Works (US), Canah International (Romania), South Hemp Tecno (Italy), Plains Industrial Hemp Processing (Canada), and MH Medical Hemp (Germany).

Total Views: 336Word Count: 516See All articles From Author

Add Comment

Food, Cooking and Drink Articles

1. Wine Coolers In Uk | Commercial Wine Fridges
Author: Mansi Patel

2. Discover The Best Thai Food In Victoria
Author: John Vik

3. Discover The Best Thai Restaurant In Victoria For Authentic Flavors
Author: John Vik

4. Beyond The Green: The World’s Growing Love For Matcha Tea
Author: Anuj Kataria

5. A Golden Brew: The Health Secrets Of Turmeric & Ginger Tea
Author: John Smith

6. The Keto Diet: Benefits, Risks, And Is It Right For You?
Author: Impaakt Magazine

7. Order Donuts Online In Denton – Sweet Convenience At Your Fingertips
Author: Amysdonut

8. Top Milled Potato Flakes Manufacturer In India – Fanidhar Potato Flakes
Author: Fanidhar

9. Instamart And Zepto Data Scraping For Demand Forecasting
Author: Web Data Crawler

10. Best Restaurant In Nagpur – For Families, Parties & Food Lovers
Author: Dr. Shravan Khetn

11. Key Leadership Elevations Announced At Elior India
Author: Alan Joy

12. The Umami Appeal: How To Perfect Miso Soup At Home
Author: John Smith

13. Top 10 Donut Places In Chennai
Author: prasanth

14. North America Plant Protein Market Outlook 2025 To 2032 Emerging Trends And Opportunities
Author: Suvarna

15. Best Continental Restaurants In Chennai | Top 10 Dining Spots
Author: prasanth

Login To Account
Login Email:
Password:
Forgot Password?
New User?
Sign Up Newsletter
Email Address: