Industrial Hemp Market to Discern Steadfast Expansion During 2030Posted by Aparna P on August 4th, 2022  The global industrial hemp market is projected to chart a stellar growth between 2019 and 2029, owing to an impressive CAGR (Compound Annual Growth Rate) of 14.0%. The growth is majorly attributable to rising demand for bakery products like cookies and bread. Besides, its use in a number of products like salad dressings, cooking oil, and dairy alternatives has a positive role to play too.
The global industrial hemp market is in the middle of numerous events that are shaping its future and growth prospects for the forecast period. Few prominent ones are outlined below.
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In 2017, the Industrial Hemp Act paved for THC in cultivation, consumption, marketing, processing, and distribution. The legislative procedures have had a major impact on the growth of the industry.
The report is segmented into the following:
Product Outlook (Volume, Tons; Revenue, USD Million, 2014 - 2025)
Seeds
Fiber
Shivs
Application Outlook (Volume, Tons; Revenue, USD Million, 2014 - 2025)
Animal Care
Textiles
Automotive
Furniture
Food & Beverages
Paper
Construction Materials
Personal Care
Others
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