The Future of Industrial Hemp: Key Trends and Market Insights
The industrial hemp market size is estimated at USD 11.03 billion in 2024 and is projected to reach USD 30.24 billion by 2029, at a CAGR of 22.4% from 2024 to 2029. Increasing investments in research and development are driving the industrial hemp market, which unlocks new applications and enhances product quality. The rising interest in hemp as a rotational crop also contributes to increasing adoption...
Industrial Hemp Market Growth Drivers, Trends, and Forecast
The global industrial hemp market is valued at USD 11.03 billion in 2024 and is projected to reach USD 30.24 billion by 2029, growing at a compound annual growth rate (CAGR) of 22.4% from 2024 to 2029. Increased investments in research and development are fuelling the market, unlocking new applications and improving product quality. Additionally, growing interest in hemp as a rotational crop among...
Industrial Hemp Market Qualitative Insights on Application 2025
According to the US Farm Bill 2014, 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.”
MarketsandMarkets projects that the global industrial hemp market is projected to grow from USD 4.6 billion in 2019 to USD 26.6 billion by 2025,...