Product ID: SQMIG35I2314
Report ID:
SQMIG35I2314 |
Region:
Global |
Published Date: February, 2024
Pages:
219
|
Tables:
93 |
Figures:
76
Global Hemp Market size was valued at USD 5.7 billion in 2021 and is poised to grow from USD 6.54 billion in 2022 to USD 18.71 billion by 2030, at a CAGR of 14.04% during the forecast period (2023-2030).
Globally, increased demand for industrial hemp from businesses such as food and beverage, personal care, and animal care is driving expansion. The aforementioned application industries' growing need for hemp products such as fiber, seed, stalks, herbs, and oils is predicted to fuel development. Growing consumer awareness of the nutritional benefits of hemp seed and hemp seed oil, as well as increased demand from the cosmetics and personal care sectors. Growing development of hemp-based soaps, shampoo, bath gels, hand and body lotions, UV skin defenders, massage oils, and a variety of other goods is likely to have a significant influence on market growth. Hemp's high nutritional value, as well as its favorable fatty acid and protein profiles, are boosting demand for hemp products. Hemp fiber's high absorbency makes it useful for animal bedding, oil and gas cleaning, and the personal care sector. Furthermore, due to its favorable acoustic and aesthetic features, there is an increase in product demand in the textile, paper, and building materials sectors.
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Product ID: SQMIG35I2314