Bizizz Market Research has recently published a research report, “Industrial Hemp Market By Product Type (Hemp Fiber, Hemp Seed, CBD Hemp Oil and Hemp Oil), Source (Conventional and Organic), End-user (Personal Care, Animal Care, Construction Materials, Textiles, Paper, Automotive, Food & Beverages, Furniture and Others) Application (Bread Products and Bakery Products), Component, and Region-Global Industry Trends, Estimation & Forecast, 2019 – 2027”.
As per the report, Global Industrial Hemp Market was valued at US$ XX Bn in 2018 and it is anticipated to reach at market value of US$ 28.2 Bn by 2027, witnessing a CAGR of 32.4 % during the forecast period. Key drivers of the market are increased demand from various industrial verticals and lower prices is stimulating its demand.
The industrial hemp is growing in its demand through various industrial verticals including food & beverages, automobiles and textiles, etc. The supporting policies of the government in the cultivation of the hemp is stimulating the growth of industrial hemp in the recent years due to increased industrialization.
The Industrial Hemps market is anticipated to register a CAGR of over 32.4% during the forecast period.
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By Product, Hemp fiber segment held a key share in Global Industrial Hemps Market in 2018.
An increased demand from the textile industry is accelerating its market growth. These materials are eco-friendly because of which it is bio-degradable in nature that is contributing to its huge demand by the textile manufacturing market. The application of the Hemp in the manufacturing of spandex, nylon, polyester, and acrylic has a substantial contribution to the hemp fiber market.
Europe is anticipated to dominate the Global Industrial Hemps Market during the Forecast Period.
The European region is accounted for its increased market share due to enhanced consumption for the personal care and as a dietary supplements. The region also has increased manufacturing and construction companies that is stimulating the market share of Industrial Hemp.
Global Industrial Hemps market was highly fragmented among the number of local and global players. Moreover, increased government regulations for eco-friendly products has increased opportunities for the industrial hemp manufacturers globally. Thus competition among the organizations is moderate and are expanding their market.
Prominent players operating in the Global Industrial Hemps Market are: Hemp & Grain Co. Ltd., Terra Tech Corp., HempFlax B.V., Global Hemp Group Inc, HempMeds Brasil, Marijuana Company of America Inc, Hudson Valley Hemp, LLC., Bombay Hemp Company and Parkland Industrial Hemp Growers Cooperative Ltd., among others.
Impact of COVID-19 on Economy, Industry and Company
The emergence of novel coronavirus has affected the global economy, industry dynamics and company’s top line. The entire ecosystem has to suffer the impact of this pandemic disease which would result in demand & supply gap, production delay and weak consumer demand of end products across industries.
At Bizizz Market Research, our analyst has done extensive research across industries and identified various methodologies which would assist C-Level executives to counter this ongoing threat and make informed business decisions.
Areas at which Bizizz Market Research would help decision makers are:
a) Insights on current demand & supply gap analysis
b) Impact on value chain and supply chain and strategies adopted to off set its impact
c) Impact on Industry / company revenue and predictive intelligence on forecast sales
d) In-depth analysis on market segmentation – both value and volume analysis
e) Market assessment, regional
and country attractiveness, competitive benchmarking
and entry strategy
f) Prioritizing strategies and
how it would impact company’s short to long-term business
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