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 Dynamics: Key Players and Innovations
The global industrial hemp market size is estimated to be valued at USD 6.8 billion in 2022 and is projected to reach USD 18.1 billion by 2027, recording a CAGR of 21.6% in terms of value. The increased usage of hemp seeds in a wide range of food and beverage products such as cereals, yogurts, protein powders, and hemp milk is driving the market.
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Drivers...
Industrial Hemp Market Booming: Driven by Food, Construction, and Sustainability
The global industrial hemp market is on a steady rise, expected to reach USD 18.1 billion by 2027 from USD 6.8 billion in 2022. This significant growth reflects a compound annual growth rate (CAGR) of 21.6%.
Food and Beverage Industry Leading the Charge
The increased use of hemp seeds in various food and beverage products is a major driver of the market. Consumers are finding hemp seeds...