Industrial Hemp Market Size, Share, and Growth Analysis

Global Industrial Hemp Market

Industrial Hemp Market Size, Share & Trends Analysis Report, By Type (Hemp Seed, Hemp Seed Oil, CBD Hemp Oil, Fiber / Bast, Hurds / Shives), By Form (Raw, Processed), By Source, By Application, By Region, And Segment Forecast, 2025-2032


Report ID: SQMIG15P2005 | Region: Global | Published Date: June, 2025
Pages: 199 |Tables: 149 |Figures: 75

Format - word format excel data power point presentation

Industrial Hemp Market Insights

Global Industrial Hemp market size was valued at USD 7.13 billion in 2023 and is poised to grow from USD 8.84 billion in 2024 to USD 36.52 billion by 2032, growing at a CAGR of 19.40% in the forecast period (2025-2032).

Industrial hemp has emerged as a significant cash crop across the world. China, the US, France and Canada are among the major producers of industrial hemp in the world. Its growing applications in major industries such as food and beverages, textile, biofuel, automotive, pharmaceuticals, etc. are the main factors driving the global industrial hemp market growth. Industrial hemp has garnered the name of a sustainable alternative to many traditional, conventional raw materials in these industries. Advances in technologies of bioprocessing and extraction of industrial hemp are also creating room for further growth. Increasing government support in the form of legalization and regulatory relaxation are additional factors driving market expansion.

However, industrial hemp faces competition from already established crops and raw materials. The lack of agronomic knowledge and standardization of seeds for their cultivation also act as huge roadblocks for the market’s growth.

How are Modern Bioprocessing and Extraction Technologies Creating New Opportunities in the Market?

Advanced bioprocessing and extraction technologies are transforming market dynamics. These technologies help in enabling the production of high-purity cannabinoids, fibers, and bio-based materials. Innovations like supercritical CO₂ extraction and enzyme-assisted processing not only improve yield and quality but also lessen impact on environmental. They have the potential to unlock new applications in pharmaceuticals, textiles, packaging, etc. In 2024, PAPACKS and Ukrainian Hemp launched a scalable supply chain. This is for certified industrial hemp to produce renewable and recyclable hemp-based packaging.

Market snapshot - 2025-2032

Global Market Size

USD 7.13 billion

Largest Segment

Hemp Seed

Fastest Growth

Hemp Seed

Growth Rate

19.40% CAGR

Global Industrial Hemp Market ($ Bn)
Country Share for North America Region (%)

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Industrial Hemp Market Segments Analysis

The global industrial hemp market is segmented into type, form, source, application, sales channel, and region. By type, the market is classified into hemp seed, hemp seed oil, CBD hemp oil, fiber / bast, and hurds / shives. Depending on form, it is divided into raw, and processed. According to source, the market is categorized into conventional, and organic. Depending on application, it is divided into food & beverages (dietary supplements, functional foods, others), textiles, pharmaceuticals, personal care products, animal nutrition, paper, construction materials, biofuel, and others. According to sales channel, the market is categorized into B2B, and B2C. Regionally, the market is analyzed across North America, Europe, Asia-Pacific, Middle East & Africa, and Latin America.

Which Type of Industrial Hemp is Dominating the Global Industrial Hemp Market?

As per the 2024 global industrial hemp market analysis, the hemp seeds sub-segment held the largest share of revenue and controlled the market. The sub-segment enjoyed dominance due to its high nutritional value. Hemp seeds are rich in proteins, fatty acids, and essential minerals. This makes them find extensive use in the food and beverage industry for various products like plant-based milks, protein powders, snacks, cooking oils, etc. They cater to the growing consumer preferences for healthy and plant-based diets. They also find increasing applications in personal care and animal nutrition.

The fiber / bast sub segment is expected to experience the highest compound annual growth rate (CAGR) through the forecasted period. Hemp fibers are marketed as sustainable and eco-friendly materials across multiple industries. They are highly valued as they are strong, durable, and versatile. This makes them an optimum choice for textiles, paper, construction materials, and automotive composites. Their growing application across multiple industries is a key contributor towards their high growth rate.

Which Application is Leading the Charge in Industrial Hemp?

Based on the 2024 global industrial hemp market forecast, the food & beverages in the application segment dominated the market. The growing consumer demand for healthy, natural, and plant-based products is the reason behind this dominance. Hemp seed and hemp seed oil are rich in essential fatty acids, protein, and vitamins. These products of industrial hemp seeds are widely used in many food items like milk, protein powders, snacks, and cooking oils

The personal care products category is expected to have the highest growth rate during the forecast period of 2025-2032. Consumers are becoming aware of hemp's moisturizing, anti-inflammatory, and nourishing properties. Hemp oil and extracts are being incorporated into formulations for skincare, haircare, and cosmetics. The shift of preference towards natural and organic personal care products also has an important role in the demand for hemp-based ingredients in this sector.

Global Industrial Hemp Market Analysis by Type

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Industrial Hemp Market Regional Insights

Why is North America Leading Industrial Hemp Market in 2024?

As per the 2024 industrial hemp market regional forecast, the North American market is predicted to hold the largest share among all regions in 2024. The favorable legislative changes in the region along with factors such as adequate climate required for cultivation of industrial hemp in the region and adoption of modern agricultural techniques all contribute to its growth. The strong demand for industrial hemp as raw material in textiles, bioplastics, CBD, etc. also continues to spur adoption in the region. The US emerges as the hub for industrial hemp in the region.

U.S. Industrial Hemp Market

In North America, the U.S. leads the industrial hemp market. The U.S. market for industrial hemp is small compared to other markets in the country. It faces a significant amount of competition from other established materials. In the US, hemp bast fibers are used in textiles, paper, and composites. Hemp hurds are used for animal bedding and producing low-quality paper. Hemp seeds offer a niche market with application in food and oil products. Hemp oil faces limitations due to processing issues, small shelf life, and competition with other oils. Oversupply remains a huge risk for the US. In 2024, South Dakota expanded its industrial hemp acreage by 22%. The state harvests 3,700 acres. Texas also saw a massive increase of about 1,860% in planted acres, though only 1,500 acres were harvested.

Canada Industrial Hemp Market

Canada in North America falls behind the U.S in the industrial hemp market. The country has a mature and well-regulated industrial hemp market. Its history of commercial cultivation dates back to the 1990s. Government support through clear regulations and incentives has also encouraged a strong agricultural base positioning Canada in a favorable environment in both domestic and international markets. The Canadian Industrial Hemp Promotion-Research Agency Proclamation officially established the Canadian Industrial Hemp Promotion-Research Agency (PRA) in November 2024. This agency will operate under the Farm Products Agencies Act. It will coordinate national research and marketing efforts in industrial hemp. It will be self-funded through a 0.5% levy on primary and imported hemp products. The PRA will promote Canadian hemp consumption and create new opportunities in the sector.

Why is Demand for Industrial Hemp Fueling Growth in Asia Pacific?

Asia-Pacific is predicted to grow at the highest rate in the industrial hemp market over the projection period of 2025-2032. The growth in the region is led by increasing adoption of hemp-based products in various industries and the positively changing legal frameworks in countries like China, India, and Australia. Other factors such as supportive government policies and increase in consumer interest also support greater growth of industrial hemp. All these factors contribute to the fast rate at which the industrial hemp market of Asia Pacific is growing.

China Industrial Hemp Market

The China industrial hemp market grew at a steady rate during the forecast period. Industrial hemp is an important cash crop in China. China is one of the countries in the world which has the largest area of industrial hemp cultivation. Industrial hemp is cultivated in above a dozen provinces in China. However, only two provinces, namely Yunnan and Heilongjiang, have legislation that allows them cultivation of industrial hemp. In October 2023, a new "Integrated Water and Fertilizer Cultivation Technology" for industrial hemp in Yunnan, China, demonstrated an increase in yield by 14.4%.

India Industrial Hemp Market

India is among the most dominant countries of Asia Pacific’s industrial hemp market in 2024. India’s market growth is spurred by increasing awareness of hemp's diverse applications in textiles, pharmaceuticals, personal care, and food and beverages. The evolving regulatory landscape in India surrounding legalization of industrial hemp is also promoting growth. Himachal Pradesh approved a pilot study for controlled industrial hemp cultivation for industrial, scientific, and medicinal purposes in February 2025. This is a collaborative effort conducted by agricultural universities and the state's Agriculture Department. This is a very important step towards industrial hemp’s legalization in the Indian state.

How is Europe Maintaining its Position in the Industrial Hemp Industry?

Europe held a significant market share in 2024 and is likely to continue so during the forecast period of 2025-2032. This can be due to the increase in demand for sustainable products, along with evolving regulatory landscapes that support industrial hemp cultivation with THC content below 0.3%. Europe had a long history of hemp cultivation which is now witnessing a resurgence. Countries in the region are also focusing on research and development to expand the hemp's applications.

Germany Industrial Hemp Market

Germany has the one of the largest European markets for industrial hemp. Its growth is supported by its consumer base of hemp fibers in the automotive industry and in construction. Legislative reforms and increased investments in processing infrastructure are also helping market expansion. Recognized agricultural businesses are generally allowed to grow industrial hemp in Germany.

France Industrial Hemp Market

The France industrial hemp market is also experiencing steady growth. France is the third largest industrial hemp producer in the world and the largest in Europe. Hemp production in France has nearly tripled here in the last decade reaching about 24,000 hectares. Its market benefits from its long-standing tradition of hemp cultivation and its strong focus on industrial applications. This makes the French industrial hemp market a highly opportune market in upcoming years.

UK Industrial Hemp Market

The UK industrial hemp market emerges as the one of the most prominent industrial hemp markets in the European region. This is attributed to the growing interest in eco-friendly materials which is increasing demand for hemp-derived products. The regulatory environment in the UK supports industrial hemp cultivation by issuing licenses by the Home Office which are valid up to 3 growing seasons. This hugely supports market dynamics. There is also an evident push from the farmers and industry players' side to unlock the full potential of hemp cultivation and processing.

Global Industrial Hemp Market By Geography
  • Largest
  • Fastest

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Industrial Hemp Market Dynamics

Industrial Hemp Market Drivers

Demand for Sustainable Raw Materials

  • Industrial hemp is a versatile and sustainable alternative to petroleum-based materials. It finds application in biodegradable plastics, textiles, construction materials and paper. This appeals greatly to eco-conscious industries. Hemp requires less water, fewer pesticides, and matures faster compared to other green solutions like paper and wood. Thus, hemp is an excellent option for reducing environmental footprints in the industries.

Regulatory and Government Support

  • Many countries have now legalized and provide support for industrial hemp cultivation. The U.S. Farm Bill (2018), Industrial Hemp Regulation Program in Canada and similar policies in the EU and Asia have opened new channels for commercialization of industrial hemp. Many governments are also offering to provide subsidies and research grants for industrial hemp. This positive shift in regulations and policies are generating new revenue avenues in the global industrial hemp market.

Industrial Hemp Market Restraints

Lack of Processing Infrastructure and Integration in Supply Chain

  • Industrial hemp has a fragmented value chain. It lacks proper processing infrastructure. Specialized machinery is required to separate and refine hemp fibers. Very few facilities exist globally that can handle decortication, retting, and fiber grading at a large scale. This underdevelopment creates roadblocks for commercial scalability. Production costs get increased, and manufacturers are deterred from using industrial hemp as a mainstream raw material in various industries.

Presence of Well-Established Alternatives

  • Industrial hemp faces competition from various crops and materials like cotton, flax, jute, and synthetic fibers. These raw materials already enjoy mature supply chains and economies of scale. Construction and plastic industries also pivot towards conventional raw materials, making switching to hemp less appealing as it means higher initial costs and lower availability. The presence of these barriers makes it difficult for industrial hemp to establish its market. 

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Industrial Hemp Market Competitive Landscape

The market observes competition among local and global players. Leading companies, such as Hemp, Inc, Ecofibre Ltd, Hempflax Group B.V., etc. have been adopting strategies centred around expanding processing capabilities and diversifying product portfolios. Strategic partnerships and vertical integration from cultivation to manufacturing has also been observed in the market. This plays a critical role in improving supply chain control and quality of products. Market expansion through geographic diversification and compliance with evolving regulations is crucial. In 2025, PAPACKS and Ukrainian Hemp collaborated with each other to develop a scalable industrial hemp supply chain for sustainable, recyclable packaging alternatives to wood pulp and plastics. Their packaging which is made of hemp meets the EU and international safety standards. Other tactics that players follow to remain competitive in the market include efforts in branding and improving consumer awareness.

  • Founded in India in 2018, OG Hemp is an emerging startup in India’s industrial hemp market. OG Hemp’s product portfolio includes all-natural, chemical-free, tree-free hemp paper. The company also champions the broader industrial hemp revolution and advocates for the use of industrial hemp in packaging, textiles, construction, and biofuels. Focusing on eco-friendly manufacturing, OG Hemp claims its dedication to creating a greener future.
  • Rare Earth Global is a startup headquartered in the UK and founded in 2019. It is a B2B marketplace that simplifies consumer accees to sustainable industrial hemp products. It delivers decarbonized products from the hemp plant to industry and consumers, thereby, localizing supply chains. In 2025, the company raised USD 1.3 million in funding in a pre-seed round to expand its platform.

Top Player’s Company Profiles

  • Hemp, Inc (United States)
  • Ecofibre Ltd (Australia)
  • Hempflax Group B.V. (Netherlands)
  • Dun Agro Hemp Group (Netherlands)
  • Liaoning Qiaopai Biotech Co., Ltd. (China)
  • Konoplex Group (Russia)
  • Canah International (Romania)
  • Tilray Brands Inc. (Fresh Hemp Foods Ltd) (Canada)
  • Gencanna (United States)
  • Curaleaf Holdings, Inc. (United States)
  • Australis Capital Inc (Aurora Cannabis Inc.) (Canada)
  • South Hemp Tecno (Italy)
  • RAMM PHARMA (Hempoland) (Poland)
  • Gohemp Agro Ventures Pvt. Ltd (India)
  • Colorado Hemp Works, Inc. (United States)
  • Bombay Hemp Company Pvt. Ltd. (India)
  • Parkland Industrial Hemp Growers Co‑Op. Ltd. (Canada)

Recent Developments in Industrial Hemp Market

  • In May 2025, an industrial hemp processing plant was launched in the Zhytomyr region In Ukraine which will be operated by Ma’Ryzhany Hemp Company. The plant is the country’s largest with an annual production capacity of 14,000 tons. This facility supports Ukraine’s “Made in Ukraine” strategy and takes a step towards reviving the country’s hemp sector. It will produce fiber for textiles, paper, insulation, and bioplastics.
  • In March 2025, Edible Brands launched Edibles.com. This is a first-of-its-kind online hemp product marketplace. It is initially launching in Texas and is planned to expand across the Southeast. A prototype store is also planned in Atlanta.
  • Volkswagen, in cooperation with the German start-up Revoltech GmbH, announced in August 2024 that it is exploring imitation leather made from industrial hemp as a sustainable alternative for its future car interiors. This material is durable and eco-friendly. It reduces reliance on animal products and fossil-based synthetics. This is in line with the brands’s intention of moving towards greener automotive design.

Industrial Hemp Key Market Trends

Industrial Hemp Market SkyQuest Analysis

SkyQuest’s ABIRAW (Advanced Business Intelligence, Research & Analysis Wing) is our Business Information Services team that Collects, Collates, Correlates, and Analyses the Data collected using Primary Exploratory Research backed by robust Secondary Desk research. 

As per SkyQuest analysis, the industrial hemp market is witnessing mild growth. Its growth can be credited to the expanding applications of industrial hemp, supportive regulatory approvals, and growing partnerships and alliances. However, the market is hampered by the lack of standardization of seed varieties, lack of processing infrastructure, and presence of well-established alternative crops and raw materials. North America is anticipated to lead the market owing to its cultivation capabilities. Asia Pacific, on the other hand emerges as fastest growing region with countries such as China and India holding the positions of the most dominant industrial hemp markets in Asia Pacific.

Report Metric Details
Market size value in 2023 USD 7.13 billion
Market size value in 2032 USD 36.52 billion
Growth Rate 19.40%
Base year 2024
Forecast period 2025-2032
Forecast Unit (Value) USD Billion
Segments covered
  • Type
    • Hemp Seed
    • Hemp Seed Oil
    • CBD Hemp Oil
    • Fiber / Bast
    • Hurds / Shives
  • Form
    • Raw
    • Processed
  • Source
    • Conventional
    • Organic
  • Application
    • Food & Beverages
    • Textiles
    • Pharmaceuticals
    • Personal Care Products
    • Animal Nutrition
    • Paper
    • Construction Materials
    • Biofuel
    • Others
  • Sales Channel
    • B2B
    • B2C
Regions covered North America (US, Canada), Europe (Germany, France, United Kingdom, Italy, Spain, Rest of Europe), Asia Pacific (China, India, Japan, Rest of Asia-Pacific), Latin America (Brazil, Rest of Latin America), Middle East & Africa (South Africa, GCC Countries, Rest of MEA)
Companies covered
  • Hemp, Inc (United States)
  • Ecofibre Ltd (Australia)
  • Hempflax Group B.V. (Netherlands)
  • Dun Agro Hemp Group (Netherlands)
  • Liaoning Qiaopai Biotech Co., Ltd. (China)
  • Konoplex Group (Russia)
  • Canah International (Romania)
  • Tilray Brands Inc. (Fresh Hemp Foods Ltd) (Canada)
  • Gencanna (United States)
  • Curaleaf Holdings, Inc. (United States)
  • Australis Capital Inc (Aurora Cannabis Inc.) (Canada)
  • South Hemp Tecno (Italy)
  • RAMM PHARMA (Hempoland) (Poland)
  • Gohemp Agro Ventures Pvt. Ltd (India)
  • Colorado Hemp Works, Inc. (United States)
  • Bombay Hemp Company Pvt. Ltd. (India)
  • Parkland Industrial Hemp Growers Co‑Op. Ltd. (Canada)
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Table Of Content

Executive Summary

Market overview

  • Exhibit: Executive Summary – Chart on Market Overview
  • Exhibit: Executive Summary – Data Table on Market Overview
  • Exhibit: Executive Summary – Chart on Industrial Hemp Market Characteristics
  • Exhibit: Executive Summary – Chart on Market by Geography
  • Exhibit: Executive Summary – Chart on Market Segmentation
  • Exhibit: Executive Summary – Chart on Incremental Growth
  • Exhibit: Executive Summary – Data Table on Incremental Growth
  • Exhibit: Executive Summary – Chart on Vendor Market Positioning

Parent Market Analysis

Market overview

Market size

  • Market Dynamics
    • Exhibit: Impact analysis of DROC, 2021
      • Drivers
      • Opportunities
      • Restraints
      • Challenges
  • SWOT Analysis

KEY MARKET INSIGHTS

  • Technology Analysis
    • (Exhibit: Data Table: Name of technology and details)
  • Pricing Analysis
    • (Exhibit: Data Table: Name of technology and pricing details)
  • Supply Chain Analysis
    • (Exhibit: Detailed Supply Chain Presentation)
  • Value Chain Analysis
    • (Exhibit: Detailed Value Chain Presentation)
  • Ecosystem Of the Market
    • Exhibit: Parent Market Ecosystem Market Analysis
    • Exhibit: Market Characteristics of Parent Market
  • IP Analysis
    • (Exhibit: Data Table: Name of product/technology, patents filed, inventor/company name, acquiring firm)
  • Trade Analysis
    • (Exhibit: Data Table: Import and Export data details)
  • Startup Analysis
    • (Exhibit: Data Table: Emerging startups details)
  • Raw Material Analysis
    • (Exhibit: Data Table: Mapping of key raw materials)
  • Innovation Matrix
    • (Exhibit: Positioning Matrix: Mapping of new and existing technologies)
  • Pipeline product Analysis
    • (Exhibit: Data Table: Name of companies and pipeline products, regional mapping)
  • Macroeconomic Indicators

COVID IMPACT

  • Introduction
  • Impact On Economy—scenario Assessment
    • Exhibit: Data on GDP - Year-over-year growth 2016-2022 (%)
  • Revised Market Size
    • Exhibit: Data Table on Industrial Hemp Market size and forecast 2021-2027 ($ million)
  • Impact Of COVID On Key Segments
    • Exhibit: Data Table on Segment Market size and forecast 2021-2027 ($ million)
  • COVID Strategies By Company
    • Exhibit: Analysis on key strategies adopted by companies

MARKET DYNAMICS & OUTLOOK

  • Market Dynamics
    • Exhibit: Impact analysis of DROC, 2021
      • Drivers
      • Opportunities
      • Restraints
      • Challenges
  • Regulatory Landscape
    • Exhibit: Data Table on regulation from different region
  • SWOT Analysis
  • Porters Analysis
    • Competitive rivalry
      • Exhibit: Competitive rivalry Impact of key factors, 2021
    • Threat of substitute products
      • Exhibit: Threat of Substitute Products Impact of key factors, 2021
    • Bargaining power of buyers
      • Exhibit: buyers bargaining power Impact of key factors, 2021
    • Threat of new entrants
      • Exhibit: Threat of new entrants Impact of key factors, 2021
    • Bargaining power of suppliers
      • Exhibit: Threat of suppliers bargaining power Impact of key factors, 2021
  • Skyquest special insights on future disruptions
    • Political Impact
    • Economic impact
    • Social Impact
    • Technical Impact
    • Environmental Impact
    • Legal Impact

Market Size by Region

  • Chart on Market share by geography 2021-2027 (%)
  • Data Table on Market share by geography 2021-2027(%)
  • North America
    • Chart on Market share by country 2021-2027 (%)
    • Data Table on Market share by country 2021-2027(%)
    • USA
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • Canada
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
  • Europe
    • Chart on Market share by country 2021-2027 (%)
    • Data Table on Market share by country 2021-2027(%)
    • Germany
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • Spain
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • France
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • UK
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • Rest of Europe
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
  • Asia Pacific
    • Chart on Market share by country 2021-2027 (%)
    • Data Table on Market share by country 2021-2027(%)
    • China
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • India
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • Japan
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • South Korea
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • Rest of Asia Pacific
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
  • Latin America
    • Chart on Market share by country 2021-2027 (%)
    • Data Table on Market share by country 2021-2027(%)
    • Brazil
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • Rest of South America
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
  • Middle East & Africa (MEA)
    • Chart on Market share by country 2021-2027 (%)
    • Data Table on Market share by country 2021-2027(%)
    • GCC Countries
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • South Africa
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • Rest of MEA
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)

KEY COMPANY PROFILES

  • Competitive Landscape
    • Total number of companies covered
      • Exhibit: companies covered in the report, 2021
    • Top companies market positioning
      • Exhibit: company positioning matrix, 2021
    • Top companies market Share
      • Exhibit: Pie chart analysis on company market share, 2021(%)

Methodology

For the Industrial Hemp Market, our research methodology involved a mixture of primary and secondary data sources. Key steps involved in the research process are listed below:

1. Information Procurement: This stage involved the procurement of Market data or related information via primary and secondary sources. The various secondary sources used included various company websites, annual reports, trade databases, and paid databases such as Hoover's, Bloomberg Business, Factiva, and Avention. Our team did 45 primary interactions Globally which included several stakeholders such as manufacturers, customers, key opinion leaders, etc. Overall, information procurement was one of the most extensive stages in our research process.

2. Information Analysis: This step involved triangulation of data through bottom-up and top-down approaches to estimate and validate the total size and future estimate of the Industrial Hemp Market.

3. Report Formulation: The final step entailed the placement of data points in appropriate Market spaces in an attempt to deduce viable conclusions.

4. Validation & Publishing: Validation is the most important step in the process. Validation & re-validation via an intricately designed process helped us finalize data points to be used for final calculations. The final Market estimates and forecasts were then aligned and sent to our panel of industry experts for validation of data. Once the validation was done the report was sent to our Quality Assurance team to ensure adherence to style guides, consistency & design.

Analyst Support

Customization Options

With the given market data, our dedicated team of analysts can offer you the following customization options are available for the Industrial Hemp Market:

Product Analysis: Product matrix, which offers a detailed comparison of the product portfolio of companies.

Regional Analysis: Further analysis of the Industrial Hemp Market for additional countries.

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Innovation Mapping: Identify racial solutions and innovation, connected to deep ecosystems of innovators, start-ups, academics, and strategic partners.

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FAQs

Global Industrial Hemp market size was valued at USD 7.13 billion in 2023 and is poised to grow from USD 8.84 billion in 2024 to USD 36.52 billion by 2032, growing at a CAGR of 19.40% in the forecast period (2025-2032).

The market observes competition among local and global players. Leading companies, such as Hemp, Inc, Ecofibre Ltd, Hempflax Group B.V., etc. have been adopting strategies centred around expanding processing capabilities and diversifying product portfolios. Strategic partnerships and vertical integration from cultivation to manufacturing has also been observed in the market. This plays a critical role in improving supply chain control and quality of products. Market expansion through geographic diversification and compliance with evolving regulations is crucial. In 2025, PAPACKS and Ukrainian Hemp collaborated with each other to develop a scalable industrial hemp supply chain for sustainable, recyclable packaging alternatives to wood pulp and plastics. Their packaging which is made of hemp meets the EU and international safety standards. Other tactics that players follow to remain competitive in the market include efforts in branding and improving consumer awareness.'Hemp, Inc (United States)', 'Ecofibre Ltd (Australia)', 'Hempflax Group B.V. (Netherlands)', 'Dun Agro Hemp Group (Netherlands)', 'Liaoning Qiaopai Biotech Co., Ltd. (China)', 'Konoplex Group (Russia)', 'Canah International (Romania)', 'Tilray Brands Inc. (Fresh Hemp Foods Ltd) (Canada)', 'Gencanna (United States)', 'Curaleaf Holdings, Inc. (United States)', 'Australis Capital Inc (Aurora Cannabis Inc.) (Canada)', 'South Hemp Tecno (Italy)', 'RAMM PHARMA (Hempoland) (Poland)', 'Gohemp Agro Ventures Pvt. Ltd (India)', 'Colorado Hemp Works, Inc. (United States)', 'Bombay Hemp Company Pvt. Ltd. (India)', 'Parkland Industrial Hemp Growers Co‑Op. Ltd. (Canada)'

Industrial hemp is a versatile and sustainable alternative to petroleum-based materials. It finds application in biodegradable plastics, textiles, construction materials and paper. This appeals greatly to eco-conscious industries. Hemp requires less water, fewer pesticides, and matures faster compared to other green solutions like paper and wood. Thus, hemp is an excellent option for reducing environmental footprints in the industries.

Expansion of Cultivation Acreage:

Why is North America Leading Industrial Hemp Market in 2024?

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Global Industrial Hemp Market
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