NEW YORK, Feb. 13, 2025 /PRNewswire/ — Report with the AI impact on market trends – The industrial hemp market and it is set to grow by USD 18.31 billion from 2025 to 2029. However, the growth momentum will progressing at a CAGR of over 27% during the forecast period, according to Technavio. The industrial hemp market is fragmented, and the vendors are seeking strong partnerships with automotive, industrial, and commercial companies to compete in the market. Aurora Cannabis Inc., Bombay Hemp Co. Pvt. Ltd., Boring Hemp Co., Canopy Growth Corp., Charlottes Web Holdings Inc., CV Sciences Inc., Deep Nature Project GmbH, Dun Agro Hemp Group, Ecofibre Ltd., Elixinol Wellness Ltd., GFR Ingredients Ltd., Hanma Investment Group Co. Ltd., Hemp Horizons Private Ltd., HempFlax Group BV, HemPoland Sp zoo, Liaoning Qiaopai Biotech Co. Ltd., Medical Marijuana Inc., Nutiva Inc., Parkland Industrial Hemp Growers Co op. Ltd., and Tilray Brands Inc. Are some of the major market participants -. To know about the vendor offerings – Request a sample report
Industrial Hemp Market 2025-2029: Scope
Technavio presents a detailed picture of the market by the way of study, synthesis, and summation of data from multiple sources. The industrial hemp market report covers the following areas:
The industrial hemp market is fragmented, and the degree of fragmentation will accelerate. The high demand from the textile industry will offer immense growth opportunities. However, the Challenges associated with the production of hemp will hamper the market growth
Industrial Hemp Market 2025-2029: Drivers & Challenges
Hemp fibers have emerged as a preferred choice for textile yarn production due to their exceptional strength and durability. These fibers serve as a viable alternative to cotton and synthetic fibers in the textiles industry. The advantages of hemp, including its technological, ecological, and economic superiority, have fueled its demand for manufacturing a range of products such as canvas, sailcloth, rope, sacks, clothing, furnishing, and specialty textiles. In January 2022, the Uttarakhand government implemented a policy under Section 14 of the NDPS Act, 1985, enabling industrial or horticulture cultivation of the hemp plant, further boosting its market potential.
Hemp is a versatile crop with various applications in industries such as textiles, food, and construction. However, its production presents unique challenges for farmers due to specific climatic requirements. These include a mild climate, humid atmosphere, minimum annual rainfall of 25-30 inches, well-drained loam soils, and compacted soil. Additionally, regulatory hurdles arise due to the close relationship between hemp and marijuana. Marijuana, which is illegal in many countries, including the US, shares few genetic differences with hemp, leading to regulatory complications. The US Federal government classifies marijuana as a controlled substance, making hemp farming a complex endeavor.
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Segment Overview
This industrial hemp market report extensively covers market segmentation by
- Product
- Seeds
- Fiber
- Shivs
- Application
- Textile
- Food And Beverages
- Personal Care
- Animal Care
- Others
- Geography
- APAC
- North America
- Europe
- South America
- Middle East And Africa
1.1 Seeds- The global industrial hemp market’s seeds segment holds a substantial share, reaching a significant size in 2023. Hemp seeds are popular due to their nutritional value, primarily used in food and beverage items like hemp milk, hemp oil, and hemp protein powder. The increasing popularity of plant-based diets fuels the global demand for these seeds. Two types of hemp seeds exist: organic and conventional. Consumers prefer organic hemp seeds due to their natural and organic nature, free from harmful chemicals and pesticides. The organic hemp seeds market is further segmented into hulled (hemp hearts) and whole seeds. Hemp hearts are popular for their nutty taste and high nutritional value, while whole seeds offer a high fiber content and versatility. Hemp seed oil, with its moisturizing properties and essential fatty acids, is widely used in food and cosmetic products. In summary, the hemp seeds segment’s growth is driven by the rising preference for organic and plant-based products, making it a significant contributor to the global industrial hemp market’s expansion during the forecast period.
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Industrial Hemp Market 2025-2029: Key Highlights
- CAGR of the market during the forecast period 2025-2029
- Detailed information on factors that will assist industrial hemp market growth during the next five years
- Estimation of the industrial hemp market size and its contribution to the parent market
- Predictions on upcoming trends and changes in consumer behavior
- The growth of the industrial hemp market across APAC, North America, Europe, South America, and Middle East and Africa
- Analysis of the market’s competitive landscape and detailed information on vendors
- Comprehensive details of factors that will challenge the growth of industrial hemp market vendors
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Industrial Hemp Market Scope |
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Report Coverage |
Details |
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Base year |
2024 |
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Historic period |
2017-2021 |
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Forecast period |
2025-2029 |
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Growth momentum & CAGR |
Accelerate at a CAGR of 27% |
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Market growth 2025-2029 |
USD 18306.4 million |
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Market structure |
Fragmented |
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YoY growth 2022-2023 (%) |
20.5 |
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Regional analysis |
APAC, North America, Europe, South America, and Middle East and Africa |
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Performing market contribution |
APAC at 38% |
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Key countries |
US, China, Canada, Japan, Germany, UK, India, South Korea, France, and Italy |
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Competitive landscape |
Leading Vendors, Market Positioning of Vendors, Competitive Strategies, and Industry Risks |
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Key companies profiled |
Aurora Cannabis Inc., Bombay Hemp Co. Pvt. Ltd., Boring Hemp Co., Canopy Growth Corp., Charlottes Web Holdings Inc., CV Sciences Inc., Deep Nature Project GmbH, Dun Agro Hemp Group, Ecofibre Ltd., Elixinol Wellness Ltd., GFR Ingredients Ltd., Hanma Investment Group Co. Ltd., Hemp Horizons Private Ltd., HempFlax Group BV, HemPoland Sp zoo, Liaoning Qiaopai Biotech Co. Ltd., Medical Marijuana Inc., Nutiva Inc., Parkland Industrial Hemp Growers Co op. Ltd., and Tilray Brands Inc. |
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Market dynamics |
Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID 19 impact and recovery analysis and future consumer dynamics, Market condition analysis for forecast period |
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Customization purview |
If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized. |
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Customization purview |
If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized. |
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Technavio is a leading global technology research and advisory company. Their research and analysis focuses on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions. With over 500 specialized analysts, Technavio’s report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio’s comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.
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SOURCE Technavio
