Lucintel Forecasts the Global Industrial Hemp Market to Reach $24.9 billion by 2030
Lucintel Forecasts the Global Industrial Hemp Market to Reach $24.9 billion by 2030
Blog Article
According to a market report by Lucintel, the future of the global industrial hemp market looks promising with opportunities in the food & beverage, textile, pharmaceutical, personal care product, animal nutrition, and paper markets. The global industrial hemp market is expected to reach an estimated $24.9 billion by 2030with a CAGR of 21.2% from 2024 to 2030. The major drivers for this market are rising legalization of industrial hemp cultivation, increasing use of hemp seed and hemp seed oil in food applications, and increasing incidence of chronic diseases.
A more than 150-page report to understand trends, opportunity and forecast in industrial hemp market to 2030 by type (hemp seed, hemp seed oil, CBD hemp oil, hemp bast, and hemp hurd), source (conventional and organic), application (food & beverages, textiles, pharmaceuticals, personal care products, animal nutrition, paper, and others), and region (North America, Europe, Asia Pacific, and the Rest of the World).
Lucintel forecasts that hemp seed will remain the largest segment over the forecast period due to high nutrition ratio.
Within this market, food & beverage will remain the largest segment due to increasing demand for plant-based protein.
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APAC is expected to witness highest growth over the forecast period due to on-going technological advancements and rising consumption of hemp-based food products and supplementsin the region.
Marijuana, Cronos, Ecofibre, Green Thumb Industries, Curaleaf Holdings are the major suppliers in the industrial hemp market.
This unique research report will enable you to make confident business decisions in this globally competitive marketplace. For a detailed table of contents, contact Lucintel at +1-972-636-5056 or write us at helpdesk@lucintel.comTo get access of more than 1000 reports at fraction of cost visit Lucintel'sAnalytics Dashboard.
About Lucintel
At Lucintel, we offer solutions for you growth through game changer ideas and robust market &unmet needs analysis. We are based in Dallas, TX and have been a trusted advisor for 1,000+ clients for over 20 years. We are quoted in several publications like the Wall Street Journal, ZACKS, and the Financial Times.
Contact:
Roy Almaguer
Lucintel
Dallas, Texas, USA
Email: roy.almaguer@lucintel.com
Tel. +1-972-636-5056
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