Us Industrial Hemp Market Size By Applications, By Type, By End-User, By Deployment & By Technology 2032
Industrial Hemp Market was valued at USD 4.6 Billion in 2022 and is projected to reach USD 12.2 Billion by 2030, growing at a CAGR of 14.8% from 2024 to 2030.
The US industrial hemp market has been rapidly evolving, driven by increasing demand for hemp-derived products and the expanding range of industries adopting its benefits. Hemp, once primarily known for its use in textiles, is now a crucial ingredient in everything from food products to biofuels and cosmetics. With its versatile applications, industrial hemp offers sustainability and eco-friendly solutions that align with growing global environmental concerns.
As of recent market analysis, the US industrial hemp sector has shown impressive growth. In 2024, the market was valued at over $1.5 billion, with projections to exceed $3 billion by 2028. This rapid growth is attributed to the rise in consumer demand for hemp-based products such as CBD oils, biodegradable plastics, and health supplements. A significant contributing factor to this expansion is the legal environment, particularly the 2018 Farm Bill, which legalized hemp cultivation nationwide and provided a clear framework for the industry.
The shift toward more sustainable agricultural practices has also benefited the hemp market. Hemp is known for its ability to grow quickly with minimal water, pesticides, and fertilizers, making it a sustainable crop for the future. This makes hemp a popular choice for farmers seeking alternatives to traditional crops. Moreover, the increasing awareness of the environmental benefits of hemp cultivation has drawn the attention of large corporations looking to reduce their carbon footprints.
Furthermore, the industrial hemp market has seen innovation in areas such as construction materials, textiles, and biodegradable plastics. Hemp fibers are being used to create strong, lightweight materials for construction, offering a greener alternative to traditional building products. In addition, the textile industry is embracing hemp as a sustainable option to cotton, which requires extensive water resources to grow.
The rise of hemp-based food products is also noteworthy. Hemp seeds are highly nutritious, packed with proteins, healthy fats, and essential minerals. As consumers increasingly look for plant-based alternatives to traditional animal products, hemp-based foods are gaining popularity. Hemp protein powder, hemp milk, and hemp oil are just a few examples of products in high demand.
The US industrial hemp market shows no signs of slowing down. The potential for growth remains high as innovation continues across various sectors. As consumers and industries alike increasingly prioritize sustainability and eco-friendly practices, hemp stands out as a key player in the green revolution.
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Manitoba Harvest
CW Hemp/CW Botanicals
Aphria
Canopy Growth Corporation
Nutiva
Agropro
CV Sciences
Isodiol
ENDOCA
Jinzhou Qiaopai Biotech
North American Hemp & Grain Co
Yunnan Industrial Hemp
GFR Ingredients Inc Hempco
Yishutang
Naturally Splendid
BAFA neu GmbH
Aos Products
Suyash Herbs
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By the year 2030, the scale for growth in the market research industry is reported to be above 120 billion which further indicates its projected compound annual growth rate (CAGR), of more than 5.8% from 2023 to 2030. There have also been disruptions in the industry due to advancements in machine learning, artificial intelligence and data analytics There is predictive analysis and real time information about consumers which such technologies provide to the companies enabling them to make better and precise decisions. The Asia-Pacific region is expected to be a key driver of growth, accounting for more than 35% of total revenue growth. In addition, new innovative techniques such as mobile surveys, social listening, and online panels, which emphasize speed, precision, and customization, are also transforming this particular sector.
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Growing demand for below applications around the world has had a direct impact on the growth of the Global Industrial Hemp Market
Hemp Seeds
Hemp Oil
Hemp Fiber
Hemp Hurds
Hemp Textile
Food and Beverages
Health and Wellness Products
Cosmetics and Personal Care
Textiles and Apparel
Construction Materials
Automotive Parts
Bioplastics
Online Retail
Supermarkets/Hypermarkets
Specialty Stores
Pharmacies
Direct Sales
Agriculture
Food Industry
Textile Industry
Construction Industry
Manufacturing Sector
Pharmaceuticals
Raw Hemp
Processed Hemp (e.g., oil, meal)
Hemp-Based Products (e.g., textiles, building materials)
Global (United States, Global and Mexico)
Europe (Germany, UK, France, Italy, Russia, Turkey, etc.)
Asia-Pacific (China, Japan, Korea, India, Australia, Indonesia, Thailand, Philippines, Malaysia and Vietnam)
South America (Brazil, Argentina, Columbia, etc.)
Middle East and Africa (Saudi Arabia, UAE, Egypt, Nigeria and South Africa)
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1. Introduction of the Global Industrial Hemp Market
Overview of the Market
Scope of Report
Assumptions
2. Executive Summary
3. Research Methodology of Verified Market Reports
Data Mining
Validation
Primary Interviews
List of Data Sources
4. Global Industrial Hemp Market Outlook
Overview
Market Dynamics
Drivers
Restraints
Opportunities
Porters Five Force Model
Value Chain Analysis
5. Global Industrial Hemp Market, By Type
6. Global Industrial Hemp Market, By Application
7. Global Industrial Hemp Market, By Geography
Global
Europe
Asia Pacific
Rest of the World
8. Global Industrial Hemp Market Competitive Landscape
Overview
Company Market Ranking
Key Development Strategies
9. Company Profiles
10. Appendix
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