Industrial hemp market size to grow by USD 6.47 Bn, Driven by the high demand from the Textile Industry - Technavio

NEW YORK, Oct. 18, 2022 /PRNewswire/ -- The global industrial hemp market will be driven by factors such as the high demand from the textile industry. Hemp fibers are increasingly used as a raw material for textile yarn production. They are also considered a substitute for cotton and synthetic fibers. In addition, hemp can also be blended with cotton, wool, and silk to produce various fabrics. As hemp fibers contain numerous cracks and small holes, they offer an excellent capillary effect, good moisture-absorbing abilities, and excellent breathing performance. Hence, hemp fibers are used to manufacture waterproof, windproof, wear-resistant, and anti-bacterial clothing for the military. Such applications will drive market growth in the forecast period.

The global industrial hemp market size is set to grow by USD 6.47 billion from 2021 to 2026, according to Technavio. In addition, the growth momentum of the market will accelerate at a CAGR of 17.67% during the forecast period.

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Industrial Hemp Market Application Outlook (Revenue, USD bn, 2021-2026)

• Textile - size and forecast 2021-2026
• Food and beverages - size and forecast 2021-2026
• Personal care - size and forecast 2021-2026
• Animal care - size and forecast 2021-2026
• Others - size and forecast 2021-2026

Industrial Hemp Market Geography Outlook (Revenue, USD bn, 2021-2026)

• APAC - size and forecast 2021-2026
• North America - size and forecast 2021-2026
• Europe - size and forecast 2021-2026
• South America - size and forecast 2021-2026
• Middle East and Africa - size and forecast 2021-2026

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Revenue-generating Application Segment

The industrial hemp market share growth in the textile segment will be significant during the forecast period. Hemp fibers possess significant properties, such as high absorption capacity and good thermal and electrical properties, like low static electricity charge and high heat of sorption. Hence, hemp is used in the manufacture of apparel, fabrics, denim, and fine textiles, thus increasing the demand for hemp in the textile segment. Therefore, owing to these factors, the textile segment of the market in focus is expected to grow during the forecast period.

Regional Analysis

42% of the market's growth will originate from APAC during the forecast period. China is the key market for the industrial hemp market in APAC. The rapidly growing construction industry will facilitate the industrial hemp market growth in APAC over the forecast period. 

Major Five Industrial Hemp Companies:

• 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. Ltd.
• Medical Marijuana Inc
• Nutiva Inc.
• Parkland Industrial Hemp Growers Co op. Ltd.
• Tilray Inc.

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Table of Contents:

1 Executive Summary

• 1.1 Market Overview 
• Exhibit 01: Executive Summary – Chart on Market Overview
• Exhibit 02: Executive Summary – Data Table on Market Overview
• Exhibit 03: Executive Summary – Chart on Global Market Characteristics
• Exhibit 04: Executive Summary – Chart on Market by Geography
• Exhibit 05: Executive Summary – Chart on Market Segmentation by Application
• Exhibit 06: Executive Summary – Chart on Incremental Growth
• Exhibit 07: Executive Summary – Data Table on Incremental Growth
• Exhibit 08: Executive Summary – Chart on Vendor Market Positioning

2 Market Landscape

• 2.1 Market ecosystem 
• Exhibit 09: Parent market
• Exhibit 10: Market Characteristics

3 Market Sizing

• 3.1 Market Definition 
• Exhibit 11: Offerings of vendors included in the market definition

• 3.2 Market segment analysis 
• Exhibit 12: Market segments

• 3.3 Market size 2021

• 3.4 Market outlook: Forecast for 2021-2026 
• Exhibit 13: Chart on Global - Market size and forecast 2021-2026 ($ million)
• Exhibit 14: Data Table on Global - Market size and forecast 2021-2026 ($ million)
• Exhibit 15: Chart on Global Market: Year-over-year growth 2021-2026 (%)
• Exhibit 16: Data Table on Global Market: Year-over-year growth 2021-2026 (%)

4 Five Forces Analysis

• 4.1 Five forces summary 
• Exhibit 17: Five forces analysis - Comparison between 2021 and 2026

• 4.2 Bargaining power of buyers 
• Exhibit 18: Chart on Bargaining power of buyers – Impact of key factors 2021 and 2026

• 4.3 Bargaining power of suppliers 
• Exhibit 19: Bargaining power of suppliers – Impact of key factors in 2021 and 2026

• 4.4 Threat of new entrants 
• Exhibit 20: Threat of new entrants – Impact of key factors in 2021 and 2026

• 4.5 Threat of substitutes 
• Exhibit 21: Threat of substitutes – Impact of key factors in 2021 and 2026

• 4.6 Threat of rivalry 
• Exhibit 22: Threat of rivalry – Impact of key factors in 2021 and 2026

• 4.7 Market condition 
• Exhibit 23: Chart on Market condition - Five forces 2021 and 2026

5 Market Segmentation by Application

• 5.1 Market segments 
• Exhibit 24: Chart on Application - Market share 2021-2026 (%)
• Exhibit 25: Data Table on Application - Market share 2021-2026 (%)

• 5.2 Comparison by Application 
• Exhibit 26: Chart on Comparison by Application
• Exhibit 27: Data Table on Comparison by Application

• 5.3 Textile - Market size and forecast 2021-2026
• Exhibit 28: Chart on Textile - Market size and forecast 2021-2026 ($ million)
• Exhibit 29: Data Table on Textile - Market size and forecast 2021-2026 ($ million)
• Exhibit 30: Chart on Textile - Year-over-year growth 2021-2026 (%)
• Exhibit 31: Data Table on Textile - Year-over-year growth 2021-2026 (%)

• 5.4 Food and beverages - Market size and forecast 2021-2026
• Exhibit 32: Chart on Food and beverages - Market size and forecast 2021-2026 ($ million)
• Exhibit 33: Data Table on Food and beverages - Market size and forecast 2021-2026 ($ million)
• Exhibit 34: Chart on Food and beverages - Year-over-year growth 2021-2026 (%)
• Exhibit 35: Data Table on Food and beverages - Year-over-year growth 2021-2026 (%)

• 5.5 Personal care - Market size and forecast 2021-2026
• Exhibit 36: Chart on Personal care - Market size and forecast 2021-2026 ($ million)
• Exhibit 37: Data Table on Personal care - Market size and forecast 2021-2026 ($ million)
• Exhibit 38: Chart on Personal care - Year-over-year growth 2021-2026 (%)
• Exhibit 39: Data Table on Personal care - Year-over-year growth 2021-2026 (%)

• 5.6 Animal care - Market size and forecast 2021-2026
• Exhibit 40: Chart on Animal care - Market size and forecast 2021-2026 ($ million)
• Exhibit 41: Data Table on Animal care - Market size and forecast 2021-2026 ($ million)
• Exhibit 42: Chart on Animal care - Year-over-year growth 2021-2026 (%)
• Exhibit 43: Data Table on Animal care - Year-over-year growth 2021-2026 (%)

• 5.7 Others - Market size and forecast 2021-2026
• Exhibit 44: Chart on Others - Market size and forecast 2021-2026 ($ million)
• Exhibit 45: Data Table on Others - Market size and forecast 2021-2026 ($ million)
• Exhibit 46: Chart on Others - Year-over-year growth 2021-2026 (%)
• Exhibit 47: Data Table on Others - Year-over-year growth 2021-2026 (%)

• 5.8 Market opportunity by Application 
• Exhibit 48: Market opportunity by Application ($ million)

6 Customer Landscape

• 6.1 Customer landscape overview 
• Exhibit 49: Analysis of price sensitivity, lifecycle, customer purchase basket, adoption rates, and purchase criteria

7 Geographic Landscape

• 7.1 Geographic segmentation 
• Exhibit 50: Chart on Market share by geography 2021-2026 (%)
• Exhibit 51: Data Table on Market share by geography 2021-2026 (%)

• 7.2 Geographic comparison 
• Exhibit 52: Chart on Geographic comparison
• Exhibit 53: Data Table on Geographic comparison

• 7.3 APAC - Market size and forecast 2021-2026
• Exhibit 54: Chart on APAC - Market size and forecast 2021-2026 ($ million)
• Exhibit 55: Data Table on APAC - Market size and forecast 2021-2026 ($ million)
• Exhibit 56: Chart on APAC - Year-over-year growth 2021-2026 (%)
• Exhibit 57: Data Table on APAC - Year-over-year growth 2021-2026 (%)

• 7.4 North America - Market size and forecast 2021-2026
• Exhibit 58: Chart on North America - Market size and forecast 2021-2026 ($ million)
• Exhibit 59: Data Table on North America - Market size and forecast 2021-2026 ($ million)
• Exhibit 60: Chart on North America - Year-over-year growth 2021-2026 (%)
• Exhibit 61: Data Table on North America - Year-over-year growth 2021-2026 (%)

• 7.5 Europe - Market size and forecast 2021-2026
• Exhibit 62: Chart on Europe - Market size and forecast 2021-2026 ($ million)
• Exhibit 63: Data Table on Europe - Market size and forecast 2021-2026 ($ million)
• Exhibit 64: Chart on Europe - Year-over-year growth 2021-2026 (%)
• Exhibit 65: Data Table on Europe - Year-over-year growth 2021-2026 (%)

• 7.6 South America - Market size and forecast 2021-2026
• Exhibit 66: Chart on South America - Market size and forecast 2021-2026 ($ million)
• Exhibit 67: Data Table on South America - Market size and forecast 2021-2026 ($ million)
• Exhibit 68: Chart on South America - Year-over-year growth 2021-2026 (%)
• Exhibit 69: Data Table on South America - Year-over-year growth 2021-2026 (%)

• 7.7 Middle East and Africa - Market size and forecast 2021-2026 
• Exhibit 70: Chart on Middle East and Africa - Market size and forecast 2021-2026 ($ million)
• Exhibit 71: Data Table on Middle East and Africa - Market size and forecast 2021-2026 ($ million)
• Exhibit 72: Chart on Middle East and Africa - Year-over-year growth 2021-2026 (%)
• Exhibit 73: Data Table on Middle East and Africa - Year-over-year growth 2021-2026 (%)

• 7.8 China - Market size and forecast 2021-2026
• Exhibit 74: Chart on China - Market size and forecast 2021-2026 ($ million)
• Exhibit 75: Data Table on China - Market size and forecast 2021-2026 ($ million)
• Exhibit 76: Chart on China - Year-over-year growth 2021-2026 (%)
• Exhibit 77: Data Table on China - Year-over-year growth 2021-2026 (%)

• 7.9 US - Market size and forecast 2021-2026
• Exhibit 78: Chart on US - Market size and forecast 2021-2026 ($ million)
• Exhibit 79: Data Table on US - Market size and forecast 2021-2026 ($ million)
• Exhibit 80: Chart on US - Year-over-year growth 2021-2026 (%)
• Exhibit 81: Data Table on US - Year-over-year growth 2021-2026 (%)

• 7.10 Germany - Market size and forecast 2021-2026
• Exhibit 82: Chart on Germany - Market size and forecast 2021-2026 ($ million)
• Exhibit 83: Data Table on Germany - Market size and forecast 2021-2026 ($ million)
• Exhibit 84: Chart on Germany - Year-over-year growth 2021-2026 (%)
• Exhibit 85: Data Table on Germany - Year-over-year growth 2021-2026 (%)

• 7.11 Canada - Market size and forecast 2021-2026
• Exhibit 86: Chart on Canada - Market size and forecast 2021-2026 ($ million)
• Exhibit 87: Data Table on Canada - Market size and forecast 2021-2026 ($ million)
• Exhibit 88: Chart on Canada - Year-over-year growth 2021-2026 (%)
• Exhibit 89: Data Table on Canada - Year-over-year growth 2021-2026 (%)

• 7.12 France - Market size and forecast 2021-2026
• Exhibit 90: Chart on France - Market size and forecast 2021-2026 ($ million)
• Exhibit 91: Data Table on France - Market size and forecast 2021-2026 ($ million)
• Exhibit 92: Chart on France - Year-over-year growth 2021-2026 (%)
• Exhibit 93: Data Table on France - Year-over-year growth 2021-2026 (%)

• 7.13 Market opportunity by geography 
• Exhibit 94: Market opportunity by geography ($ million)

8 Drivers, Challenges, and Trends

• 8.1 Market drivers

• 8.2 Market challenges

• 8.3 Impact of drivers and challenges 
• Exhibit 95: Impact of drivers and challenges in 2021 and 2026

• 8.4 Market trends

9 Vendor Landscape

• 9.1 Overview

• 9.2 Vendor landscape 
• Exhibit 96: Overview on Criticality of inputs and Factors of differentiation

• 9.3 Landscape disruption 
• Exhibit 97: Overview on factors of disruption

• 9.4 Industry risks 
• Exhibit 98: Impact of key risks on business

10 Vendor Analysis

• 10.1 Vendors covered 
• Exhibit 99: Vendors covered

• 10.2 Market positioning of vendors 
• Exhibit 100: Matrix on vendor position and classification

• 10.3 22nd Century Group Inc. 
• Exhibit 101: 22nd Century Group Inc. - Overview
• Exhibit 102: 22nd Century Group Inc. - Product / Service
• Exhibit 103: 22nd Century Group Inc. - Key offerings

• 10.4 Aurora Cannabis Inc. 
• Exhibit 104: Aurora Cannabis Inc. - Overview
• Exhibit 105: Aurora Cannabis Inc. - Business segments
• Exhibit 106: Aurora Cannabis Inc. - Key offerings
• Exhibit 107: Aurora Cannabis Inc. - Segment focus

• 10.5 Bombay Hemp Co. Pvt. Ltd. 
• Exhibit 108: Bombay Hemp Co. Pvt. Ltd. - Overview
• Exhibit 109: Bombay Hemp Co. Pvt. Ltd. - Product / Service
• Exhibit 110: Bombay Hemp Co. Pvt. Ltd. - Key offerings

• 10.6 Boring Hemp Co. 
• Exhibit 111: Boring Hemp Co. - Overview
• Exhibit 112: Boring Hemp Co. - Product / Service
• Exhibit 113: Boring Hemp Co. - Key offerings

• 10.7 Canopy Growth Corp. 
• Exhibit 114: Canopy Growth Corp. - Overview
• Exhibit 115: Canopy Growth Corp. - Business segments
• Exhibit 116: Canopy Growth Corp. - Key news
• Exhibit 117: Canopy Growth Corp. - Key offerings
• Exhibit 118: Canopy Growth Corp. - Segment focus

• 10.8 Charlottes Web Holdings Inc. 
• Exhibit 119: Charlottes Web Holdings Inc. - Overview
• Exhibit 120: Charlottes Web Holdings Inc. - Product / Service
• Exhibit 121: Charlottes Web Holdings Inc. - Key news
• Exhibit 122: Charlottes Web Holdings Inc. - Key offerings

• 10.9 HempFlax Group BV 
• Exhibit 123: HempFlax Group BV - Overview
• Exhibit 124: HempFlax Group BV - Product / Service
• Exhibit 125: HempFlax Group BV - Key offerings

• 10.10 HemPoland Sp zoo 
• Exhibit 126: HemPoland Sp zoo - Overview
• Exhibit 127: HemPoland Sp zoo - Product / Service
• Exhibit 128: HemPoland Sp zoo - Key offerings

• 10.11 Medical Marijuana Inc 
• Exhibit 129: Medical Marijuana Inc - Overview
• Exhibit 130: Medical Marijuana Inc - Product / Service
• Exhibit 131: Medical Marijuana Inc - Key offerings

• 10.12 Nutiva Inc. 
• Exhibit 132: Nutiva Inc. - Overview
• Exhibit 133: Nutiva Inc. - Product / Service
• Exhibit 134: Nutiva Inc. - Key offerings

11 Appendix

• 11.1 Scope of the report

• 11.2 Inclusions and exclusions checklist 
• Exhibit 135: Inclusions checklist
• Exhibit 136: Exclusions checklist

• 11.3 Currency conversion rates for US$ 
• Exhibit 137: Currency conversion rates for US$

• 11.4 Research methodology 
• Exhibit 138: Research methodology
• Exhibit 139: Validation techniques employed for market sizing
• Exhibit 140: Information sources

• 11.5 List of abbreviations 
• Exhibit 141: List of abbreviations

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