Industrial Hemp Market Growth, Market Insights and Forecast to 2025Posted by rekha on January 3rd, 2020 “The Global Industrial Hemp Market was valued around US$ 4.2 Bn by 2018 and growing at a significant CAGR of 33.6% over next seven years 2019-2025 due to superior mechanical properties of industrial hemp manufactured through environment friendly process” The global industrial hemp market accounted for US$ 4.2 Bn in 2018 and burgeoning over the forthcoming years. Superior mechanical properties of industrial hemp manufactured through environment friendly process, increasing number of chronic diseases, growing use of hemp seeds and hemp oil seeds in different food applications coupled with rising demand for bakery products such as bread and cookies and surging population and an increase in the level of disposable income are some of the key factors influencing the market growth. However, factors such as strict government regulations and limited processing facilities are hampering the market growth. Global industrial hemp market segmented on the basis of product, source, application and region.
For Request Sample Report @https://www.precisionbusinessinsights.com/request-sample?product_id=39334 Personal Care Products Dominate the Global Industrial Hemp Market Based on type, global industrial hemp market segmented into food, beverages, personal care products, textiles, pharmaceuticals and others.Personal care products held considerable market share during forecast period. Hemp oil used in personal care is unique and utmost natural ingredients making progression across shower products, body and bath. Unlike some other uses for the hemp plant, which use the stems for their fibre content, the personal care industry uses the seeds of the plant to extract its oils.Hemp seed oil products are good for normal, oily and dry skin types. It deep cleanses by removing dirt and grime from different skin types as it travels deep within and dissolves excess sebum. Asia Pacific Leads the Global Industrial Hemp market PBI’s global Industrial Hemp market report analyses the market in different regions such as North America, Europe, Asia Pacific, Latin America, and Middle East and Africa. According to regional analysis.Asia Pacific accounted for higher revenue share in global industrial hemp market with considerable CAGR owing rising disposable income, increasing consumer awareness related to preventive healthcare and growing demand for hemps in cosmetics & personal care products. Presence of emerging countries like China and Japan is responsible for the growth of the market in the region. North America held significant market share during projected period as there is a rising concerns about skin diseases, growing geriatric population, increasing popularity of cannabidiol products and rising consumer awareness regarding product benefits. Strategic Partnerships are the key strategies adopted by market players
Global Industrial Hemp market further reveals that the key players increasingly adopting strategies such as launch of newer products, frequent product approvals, and long term alliance to improve market revenue share and gaining significant geographic presence across the region. For Instance, In May 2019, GenCanna partnered with Thar Process entered to introduce the new CO2 hemp extraction technology into the market. Key player’s profiles in the report are Hempco (Canada), Ecofibre (Australia), Hemp Inc. (US), GenCanna (US), HempFlax BV (Netherlands), Konoplex Group (Russia), Hemp Oil Canada (Canada), BAFA (Germany), Hemp Poland (Poland) and Dun Agro (Netherlands). Precision Business Insights (PBI) in its report titled “Global Industrial Hemp Market: Market Estimation, Dynamics, Regional Share, Trends, Competitor Analysis 2014-2018 and Forecast 2019-2025” assesses the market performance over seven years forecast period over 2019-2025. The report analyses the market value forecast and provides the strategic insights into the market driving factors, challenges that are hindering the market revenue growth over forecast period. Moreover, the report also includes the total revenue and volume for the market. Detailed Segmentation
By Product o Seeds o Seed Oils o Hemp Fibers o CBD Hemp Oil By Source o Conventional o Organic By Application o Food o Beverages o Personal Care Products o Textiles o Pharmaceuticals o Others By Geography o North America
o Europe
o Asia-Pacific
o Latin America
o Middle East and Africa (MEA)
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