Industrial Hemp Market Size, Share and Trends 2034
Industrial Hemp Market Growth, Size, Trends Analysis - By Product, By Application - Regional Outlook, Competitive Strategies and Segment Forecast to 2034
| Published: Nov-2025 | Report ID: FOOD25133 | Pages: 1 - 253 | Formats*: |
| Category : Food & Beverages | |||
Industrial Hemp Market Introduction and Overview
According to SPER Market Research, the Global Industrial Hemp Market is estimated to reach USD 32.99 billion by 2034 with a CAGR of 17.71%.
The report includes an in-depth analysis of the Global Industrial Hemp Market, including market size and trends, product mix, Applications, and supplier analysis. The global industrial hemp market was valued at approximately USD 6.46 billion in 2024 and is projected to expand at a compound annual growth rate (CAGR) of 17.71% from 2024 to 2030. This growth is primarily fueled by the increasing demand for products from various application sectors, including food and beverage, personal care, and animal care, worldwide. The rising need for hemp products such as fiber, seeds, stalks, hurds, and oils from these application sectors is anticipated to propel market expansion.
By Product Insights:
The segment of hemp seeds dominated the market, capturing the largest share of revenue in 2024. The popularity of hemp seeds is increasing within the food and nutraceutical sectors for the extraction of seed, oil, and food products. The rising application of hemp oil seed in lotions, shampoos, soaps, bath gels, and cosmetics further supports market expansion. Hemp seeds are extensively utilized in oil production, which finds applications in personal care, food and beverages, and animal feed industries. Moreover, the oil is incorporated into nutritional supplements and medicinal and therapeutic products, including pharmaceuticals. The seed market is projected to experience growth throughout the forecast period due to the increasing demand from various application industries.
By Application Insights:
The textile application segment was the market leader in 2024. Hemp fabric is known for its strength, hypoallergenic properties, and natural resistance to UV light, mold, and mildew, providing a significant advantage over other types of fabrics. Additionally, it can be blended with cotton or linen, enhancing the fabric's stretch and durability. Hemp seeds are abundant in protein and are primarily utilized as birdseed and animal feed. The markets for bird and fish feed are crucial for hemp seeds in the realm of animal nutrition. Fish and birds require fatty acids rich in omega-3 and omega-6 for optimal growth, which leads them to consume hemp seeds. The increasing demand for these products in the animal care sector is expected to drive overall market growth.
Regional Insights:
The Asia Pacific region stands out as a significant consumer of industrial hemp, holding the largest revenue share in 2024. Countries including China, India, Japan, Korea, Australia, New Zealand, and Thailand are actively engaged in the production and consumption of industrial hemp and its products, such as fiber, seeds, hurds, and oil. The growing global demand for these products, coupled with advancements in technology and innovation, is facilitating easier harvesting for cultivators, thus transforming the landscape of hemp production in the region. The rising consumption of hemp-based food products and supplements in developing nations, particularly among an aging population, is expected to further stimulate market growth.
Market Competitive Landscape:
Industry stakeholders are producing large quantities of high-quality industrial hemp, offering a diverse array of variants in terms of seed size and oil composition. Factors such as potential yields, processing methods, technologies employed in processing, as well as production costs and returns, significantly influence competition within the industry. Companies in the industrial hemp sector are concentrating on enhancing product cultivation and processing capabilities in regions where the plant can be legally cultivated. Key industry players are making substantial investments in research and development activities to maximize yields from cultivation. These companies provide a wide range of hemp-derived products and have the capacity to penetrate extensive markets.
Recent Developments:
In October 2024, Canopy Growth Corporation completed the acquisition of Wana, which includes Wana Wellness, LLC, The CIMA Group, LLC, and Mountain High Products, LLC. As a result of this acquisition, Canopy USA now possesses 100% of Wana’s equity interests. This acquisition is expected to assist the company in establishing a prominent brand-focused cannabis enterprise in the United States.
In June 2024, Curaleaf Holdings, Inc. introduced new lines of hemp-derived THC products under its Select and Zero Proof brands. These products will be accessible in 25 states and the District of Columbia through direct-to-consumer delivery and Curaleaf’s national distribution network.
In June 2024, Curaleaf also launched a new line of hemp-derived THC products and an e-commerce platform, TheHempCompany.com. This initiative aims to expand distribution, uphold safety standards, and improve consumer accessibility through retail partnerships and online sales across 25 states and Washington, D.C.
Scope of the report:
| Report Metric | Details |
| Market size available for years | 2021-2034 |
| Base year considered | 2024 |
| Forecast period | 2025-2034 |
| Segments covered | By Product, By Application |
| Regions covered | North America, Latin America, Asia-Pacific, Europe, and Middle East & Africa |
| Companies Covered | Parkland Industrial Hemp Growers Cooperative Ltd, CBD Biotechnology Co, Botanical Genetics, LLC, Marijuana Company of America Inc, HempMeds Brasil, Terra Tech Corp, American Cannabis Company, Inc, HempFlax B.V, Industrial Hemp Manufacturing, LLC, American Hemp. |
- Global Industrial Hemp Market Size (FY 2021-FY 2034)
- Overview of Global Industrial Hemp Market
- Segmentation of Global Industrial Hemp Market By Product (Seeds, Seed Oil, CBD Hemp Oil, Fiber, Shivs)
- Segmentation of Global Industrial Hemp Market By Application (Animal Care, Textiles, Automotive, Furniture, Pharmaceuticals, Biofuel, Food & Beverages, Paper, Construction Materials, Personal care, Other)
- Statistical Snap of Global Industrial Hemp Market
- Expansion Analysis of Global Industrial Hemp Market
- Problems and Obstacles in Global Industrial Hemp Market
- Competitive Landscape in the Global Industrial Hemp Market
- Details on Current Investment in Global Industrial Hemp Market
- Competitive Analysis of Global Industrial Hemp Market
- Prominent Players in the Global Industrial Hemp Market
- SWOT Analysis of Global Industrial Hemp Market
- Global Industrial Hemp Market Future Outlook and Projections (FY 2025-FY 2034)
- Recommendations from Analyst
1. Introduction
- 1.1. Scope of the report
- 1.2. Market segment analysis
2. Research Methodology
- 2.1. Research data source
- 2.1.1. Secondary Data
- 2.1.2. Primary Data
- 2.1.3. SPERs internal database
- 2.1.4. Premium insight from KOLs
- 2.2. Market size estimation
- 2.2.1. Top-down and Bottom-up approach
- 2.3. Data triangulation
3. Executive Summary
4. Market Dynamics
- 4.1. Driver, Restraint, Opportunity and Challenges analysis
- 4.1.1. Drivers
- 4.1.2. Restraints
- 4.1.3. Opportunities
- 4.1.4. Challenges
5. Market variable and outlook
- 5.1. SWOT Analysis
- 5.1.1. Strengths
- 5.1.2. Weaknesses
- 5.1.3. Opportunities
- 5.1.4. Threats
- 5.2. PESTEL Analysis
- 5.2.1. Political Landscape
- 5.2.2. Economic Landscape
- 5.2.3. Social Landscape
- 5.2.4. Technological Landscape
- 5.2.5. Environmental Landscape
- 5.2.6. Legal Landscape
- 5.3. PORTERs Five Forces
- 5.3.1. Bargaining power of suppliers
- 5.3.2. Bargaining power of buyers
- 5.3.3. Threat of Substitute
- 5.3.4. Threat of new entrant
- 5.3.5. Competitive rivalry
- 5.4. Heat Map Analysis
6. Competitive Landscape
- 6.1. Global Industrial Hemp Market Manufacturing Base Distribution, Sales Area, Product Type
- 6.2. Mergers & Acquisitions, Partnerships, Product Launch, and Collaboration in Global Industrial Hemp Market
7. Global Industrial Hemp Market, By Product (USD Million) 2021-2034
- 7.1. Seeds
- 7.2. Seed Oil
- 7.3. CBD Hemp Oil
- 7.4. Fiber (Bast)
- 7.5. Shivs (Hurd)
8. Global Industrial Hemp Market, By Application (USD Million) 2021-2034
- 8.1. Animal Care
- 8.2. Textiles
- 8.3. Automotive
- 8.4. Furniture
- 8.5. Pharmaceuticals
- 8.6. Biofue
- 8.7. Food & Beverages
- 8.8. Paper
- 8.9. Construction Materials
- 8.10. Personal care
- 8.11. Other
9. Global Industrial Hemp Market, (USD Million) 2021-2034
- 9.1. Global Industrial Hemp Market Size and Market Share
10. Global Industrial Hemp Market, By Region, (USD Million) 2021-2034
- 10.1. Asia-Pacific
- 10.1.1. Australia
- 10.1.2. China
- 10.1.3. India
- 10.1.4. Japan
- 10.1.5. South Korea
- 10.1.6. Rest of Asia-Pacific
- 10.2. Europe
- 10.2.1. France
- 10.2.2. Germany
- 10.2.3. Italy
- 10.2.4. Spain
- 10.2.5. United Kingdom
- 10.2.6. Rest of Europe
- 10.3. Middle East and Africa
- 10.3.1. Kingdom of Saudi Arabia
- 10.3.2. United Arab Emirates
- 10.3.3. Qatar
- 10.3.4. South Africa
- 10.3.5. Egypt
- 10.3.6. Morocco
- 10.3.7. Nigeria
- 10.3.8. Rest of Middle-East and Africa
- 10.4. North America
- 10.4.1. Canada
- 10.4.2. Mexico
- 10.4.3. United States
- 10.5. Latin America
- 10.5.1. Argentina
- 10.5.2. Brazil
- 10.5.3. Rest of Latin America
11. Company Profile
- 11.1. Parkland Industrial Hemp Growers Cooperative Ltd
- 11.1.1. Company details
- 11.1.2. Financial outlook
- 11.1.3. Product summary
- 11.1.4. Recent developments
- 11.2. CBD Biotechnology Co
- 11.2.1. Company details
- 11.2.2. Financial outlook
- 11.2.3. Product summary
- 11.2.4. Recent developments
- 11.3. Botanical Genetics, LLC
- 11.3.1. Company details
- 11.3.2. Financial outlook
- 11.3.3. Product summary
- 11.3.4. Recent developments
- 11.4. Marijuana Company of America Inc
- 11.4.1. Company details
- 11.4.2. Financial outlook
- 11.4.3. Product summary
- 11.4.4. Recent developments
- 11.5. HempMeds Brasil
- 11.5.1. Company details
- 11.5.2. Financial outlook
- 11.5.3. Product summary
- 11.5.4. Recent developments
- 11.6. Terra Tech Corp
- 11.6.1. Company details
- 11.6.2. Financial outlook
- 11.6.3. Product summary
- 11.6.4. Recent developments
- 11.7. American Cannabis Company, Inc
- 11.7.1. Company details
- 11.7.2. Financial outlook
- 11.7.3. Product summary
- 11.7.4. Recent developments
- 11.8. HempFlax B.V
- 11.8.1. Company details
- 11.8.2. Financial outlook
- 11.8.3. Product summary
- 11.8.4. Recent developments
- 11.9. Industrial Hemp Manufacturing, LLC
- 11.9.1. Company details
- 11.9.2. Financial outlook
- 11.9.3. Product summary
- 11.9.4. Recent developments
- 11.10. American Hemp
- 11.10.1. Company details
- 11.10.2. Financial outlook
- 11.10.3. Product summary
- 11.10.4. Recent developments
- 11.11. Others
12. Conclusion
13. List of Abbreviations
14. Reference Links
SPER Market Research’s methodology uses great emphasis on primary research to ensure that the market intelligence insights are up to date, reliable and accurate. Primary interviews are done with players involved in each phase of a supply chain to analyze the market forecasting. The secondary research method is used to help you fully understand how the future markets and the spending patterns look likes.
The report is based on in-depth qualitative and quantitative analysis of the Product Market. The quantitative analysis involves the application of various projection and sampling techniques. The qualitative analysis involves primary interviews, surveys, and vendor briefings. The data gathered as a result of these processes are validated through experts opinion. Our research methodology entails an ideal mixture of primary and secondary initiatives.
Frequently Asked Questions About This Report
Industrial Hemp Market is projected to reach USD 32.99 billion by 2034, growing at a CAGR of of 17.71% during the forecast period.
Industrial Hemp Market grew in Market size from 2025. The Market is expected to reach USD 32.99 billion by 2034, at a CAGR of 17.71% during the forecast period.
Industrial Hemp Market CAGR of 17.71% during the forecast period.
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Industrial Hemp Market size is USD 32.99 billion from 2025 to 2034.
Industrial Hemp Market is covered By Product, By Application
The North America, Latin America, Asia-Pacific, Europe, and Middle East & Africa is the highest Market share in the Industrial Hemp Market.
Parkland Industrial Hemp Growers Cooperative Ltd, CBD Biotechnology Co, Botanical Genetics, LLC, Marijuana Company of America Inc, HempMeds Brasil, Terra Tech Corp, American Cannabis Company, Inc, HempFlax B.V, Industrial Hemp Manufacturing, LLC, American Hemp.
The report includes an in-depth analysis of the Global Industrial Hemp Market, including market size and trends, product mix, Applications, and supplier analysis.
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