Authored By: Sarah
17 Nov 2023

Revenue expansion of USD 6.87 billion forecasted for Industrial Hemp Market through 2023-2027|Demand from the textile industry is boosting the market Advancement

High demand from the textile industry, as well as from China and the US, is expected to fuel sustained expansion in the industrial hemp market. By 2027, the market is projected to have grown by USD 6.87 billion at a compound annual growth rate of 17.1%.

Technavio's Senior Analyst Quoted ~ “The ballooning of the industrial hemp market is notably driven by the high demand from the textile industry ”

22nd Century Group Inc., Aurora Cannabis Inc., Bombay Hemp Co. Pvt. Ltd., Boring Hemp Co., Canopy Growth Corp., Charlottes Web Holdings Inc., CV Sciences Inc., Deep Nature Project GmbH, Dun Agro Hemp Group, Ecofibre Ltd., Elixinol Wellness Ltd., GFR Ingredients Ltd., Hanma Investment Group Co. Ltd., HempFlax Group BV, HemPoland Sp zoo, Liaoning Qiaopai Biotech Co. are some of the leading brands that are experimenting and constantly striving with product innovation

industrial hemp market analysis, industrial hemp market size, industrial hemp market report, industrial hemp market forecast

Snapshot of Industrial Hemp Market

Challenges associated with the production of hemp and Stringent regulations are expected to hinder the growth of the market. However, Growing strategic collaboration, partnership, and M and A and Growing demand for organic hemp-based foods will have a positive impact on the industrial hemp market during the forecast period.

In-depth research of the industrial hemp market's revenue projections, along with a look at the major players, market drivers, and development prospects, are all included in Technavio's latest report. The research divides the markets geographically into APAC, North America, Europe, South America, and the Middle East and Africa. A market share of 40% is anticipated for the APAC area. Learn more about the market dynamics and the aspects that our report's in-depth analysis predicts will have the biggest impact on the market under review.

Technavio’s analysis of the Industrial Hemp Market also includes:

  • CAGR of the market during the forecast period 2023-2027
  • Detailed information on factors that will drive industrial hemp market growth during the next five years
  • Precise estimation of the industrial hemp market size and its contribution to the parent market
  • Accurate predictions on upcoming trends and changes in consumer behavior
  • The growth of the industrial hemp market industry across 
  • A thorough analysis of the market’s competitive landscape
  • Comprehensive details of factors that will challenge the growth of Industrial Hemp Market
Read News Read Less
Interested in this report?
Get your sample now!