Global Industrial Hemp Market Report 2021: United States Demand for Hemp with Change in Laws

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May 10, 2021, 16:00 ET

DUBLIN, May 10, 2021 /PRNewswire/ -- The "Industrial Hemp Market Global Forecast By Application, Regions, Company Analysis" report has been added to ResearchAndMarkets.com's offering.

Global Industrial Hemp Market will grow and reach US$ 17.4 Billion by 2027, from US$ 5.6 Billion in 2020

Industrial Hemp is an agricultural commodity that is cultivated for use in a wide range of products, including foods and beverages, personal care and cosmetics products, nutritional supplements, fabrics and textiles. Also yarns and spun fibres, paper, construction and insulation materials - supplementary manufacturing goods. Hemp can be grown up as a fibre, seed, or another dual-function crop. Conversely, Hemp is also from the same species of plant, Cannabis sativa, as marijuana.

The dynamic chemical present in the plant is tetrahydrocannabinol (THC). The cannabis plant has several medical as well as recreational usages. In medicine, cannabis will treat nausea, asthma, vomiting, chronic pains, and many other diseases. The plant also has physiological and psychoactive effects when taken into the body.

Industrial Hemp (seed) is a highly nutritious plant globally; it creates a massive protein and minerals resource. It has the majority concentrated balance of proteins, vitamins, essential fats and enzymes combined with a comparative absence of sugar, starches and saturated fats.

The overall benefits from Industrial Hemp Growth Trends will create room for players and its market will grow with a staggering CAGR of 17.58% during 2020-2027.

Growth Factors:

Efficient properties of industrial hemp seed (hemp seed oil) and their increased use in different food applications
Fundamental Transformation in Beverages Industry to Support Growth
Shifting Customers Preferences Towards Organic Healthcare Pet Products

Challenges:

The complex regulatory structure and the usage of industrial Hemp
Deficiency of processing facilities and planting & harvesting equipment

Country prospects: In the United States, Hemp production has seen a resurgence in the past several years. High prices for hemp products are obsessed primarily by the need to produce CBD and increase plant relatives to other crops. Producer interest in hemp production has driven mainly by the potential for high returns from sales of hemp flowers to be processed into CBD (Cannabidiol) oil.

United States Demand for Hemp with Change in Laws:

In 2018 Farm Bill was approved, Hemp has categorized under the same regulations that covered cannabis, Hemp's psychoactive cousin, since the Marijuana Tax Act of 1937. Congress explicitly approved in 2018 the shift of hemp derivative products across state lines for commercial or additional purposes. The bill also lifts limitations on the transportation, sale or possession of hemp-derived products.

COVID-19 Impact On The Global Industrial Hemp Market:

Due to COVID-19, all industry worldwide has impacted and thus this has affected the industrial hemp industry. Across the globe, transportation restrictions, lockdowns stopped products and supply chains. Canada, France, China are the country's leading manufacturer of industrial cannabis.

But recently some studied has suggest that cannabis oil has positive effect on COVID patients. This use of Hemp in the advancement of COVID 19 vaccines has increased market demand.

Key Topics Covered:

1. Introduction

2. Research & Methodology

3. Executive Summary

4. Market Dynamic
4.1 Growth Driver
4.2 Challenges

5. Global Industrial Hemp Market

6. Market Share Analysis
6.1 Application
6.2 Regions

7. Application - Global Industrial Hemp Market
7.1 Textiles
7.2 Personal Care
7.3 Food & Beverages
7.4 Animal Care
7.5 Paper
7.6 Automotive
7.7 Construction Materials
7.8 Furniture
7.9 Others

8. Regions - Global Industrial Hemp Market
8.1 North America
8.2 Europe
8.3 Asia Pacific
8.4 South America
8.5 Middle East and Africa

9. Merger & Acquisitions

10. Company Analysis
10.1 Naturally Splendid Enterprises Ltd
10.1.1 Overviews
10.1.2 Recent Development
10.1.3 Revenues
10.2 Darling Ingredients Inc
10.2.1 Overviews
10.2.2 Recent Development
10.2.3 Revenues
10.3 Agropur
10.3.1 Overviews
10.3.2 Recent Development
10.3.3 Revenues
10.4 Aurora Cannabis
10.4.1 Overviews
10.4.2 Recent Development
10.4.3 Revenues

For more information about this report visit https://www.researchandmarkets.com/r/xqckza

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