The Industrial Hemp Market is estimated to grow at CAGR 32% during the forecast period 2021-2026.

The industrial hemp market is to see rapid growth in the upcoming years. This is attributed to the growing number of chronic diseases such as diabetes; increasing usage of hempseed oil & hemp seed in various food applications; rising usage of non-psychotropic cannabinoid cannabidiol (CBD)–CBD hemp oil in food & pharmaceutical segment; and increasing legalization in the cultivation of industrial hemp.
Snacks & cereals estimated to account for the largest industrial hemp market share in 2019. Hemp is consumed as a breakfast cereal due to its nutrient-rich profile of essential fatty acids, which are needed for the proper functioning of the body. Furthermore, the growing demand for hemp snacks as post-exercise food, due to their high protein content, is expected to augment their sales in the coming years.
The hemp fiber segment is projected to account for the largest market share during the forecast period. Hemp has two types of fibers: bast (outer long fibers) and hurds (inner short fibers). The bast fibers are divided further into two types: primary bast fibers, which are up to 50 mm long and contain approximately 50% to 70% cellulose and secondary bast fibers, which are about 2 mm long. Bast fibers can be spun and woven, and are thus, majorly used in the textile industry.
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1. Market For Industrial Hemp, By Type
1.1. Hemp Seed
1.2. Hemp Seed Oil
1.3. CBD Hemp Oil
1.4. Hemp Fibre
2. Market For Industrial Hemp, By Application
2.1. Food
2.1.1. Snacks & Cereals
2.1.2. Soups, Sauces, & Seasonings
2.1.3. Bakery Products
2.1.4. Dairy & Frozen Desserts
2.1.5. Others
2.2. Textiles
2.3. Beverages
2.3.1. Hot Beverages
2.3.2. Sports & Energy Drinks
2.3.3. Ready-To-Drink Beverages
2.3.4. Others
2.4. Personal Care Products
2.5. Pharmaceuticals
2.6. Others
7. Market For Industrial Hemp, By Source
3.1. Conventional
3.2. Organic
4. Market For Industrial Hemp, By Region
4.1. North America
4.2. Europe
4.3. Asia Pacific
4.4. Rest of World
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