Product Code: ETC13279350 | Publication Date: Apr 2025 | Updated Date: Jul 2025 | Product Type: Market Research Report | |
Publisher: 6Wresearch | Author: Dhaval Chaurasia | No. of Pages: 190 | No. of Figures: 80 | No. of Tables: 40 |
According to 6Wresearch internal database and industry insights, the Global Hemp Market was valued at USD 10.7 Billion in 2024 and is expected to reach USD 16.9 Billion by 2031, growing at a compound annual growth rate of 6.80% during the forecast period (2025-2031).
The Global Hemp Market is experiencing significant growth driven by the increasing demand for hemp-based products across various industries such as food and beverage, textiles, personal care, pharmaceuticals, and construction. The legalization of hemp cultivation in several countries, coupled with the growing awareness about the environmental benefits of hemp, has further fueled market expansion. North America dominates the market due to its well-established hemp industry, followed by Europe and Asia Pacific. The market is witnessing a surge in product innovation and development, with an emphasis on sustainable and organic offerings. Key players in the global hemp market include HempFlax BV, Manitoba Harvest Hemp Foods, Hempco Food and Fiber Inc., and CV Sciences Inc. The market is projected to continue its growth trajectory, driven by the increasing adoption of hemp-derived products and favorable regulatory reforms.
The Global Hemp Market is experiencing significant growth driven by increasing legalization of hemp cultivation and rising demand for hemp-derived products such as CBD oils, textiles, and building materials. Key trends include a shift towards sustainable and eco-friendly products, as hemp is considered a versatile and renewable resource with lower environmental impact compared to traditional materials. Opportunities exist in developing innovative hemp-based products for various industries, including healthcare, cosmetics, and food & beverage. Additionally, the growing awareness of the potential health benefits of CBD products is expanding the market further. However, challenges such as regulatory complexities and the need for standardized quality control in the industry remain important factors to consider for businesses looking to capitalize on the expanding Global Hemp Market.
The Global Hemp Market faces various challenges including regulatory restrictions and ambiguity surrounding the legal status of hemp products in different countries. This inconsistency in regulations creates barriers to trade and hinders the growth of the market. Additionally, the lack of standardized testing and certification processes for hemp products poses a challenge in ensuring quality and safety standards are met. Another challenge is the limited infrastructure for hemp cultivation and processing, leading to supply chain constraints and higher production costs. Moreover, the stigma associated with hemp due to its association with cannabis further impedes market expansion and consumer acceptance. Overall, addressing these challenges requires concerted efforts from industry stakeholders, governments, and regulatory bodies to create a conducive environment for the sustainable growth of the Global Hemp Market.
The Global Hemp Market is primarily driven by the increasing demand for hemp-based products in various industries such as food and beverages, textiles, personal care, pharmaceuticals, and construction. The growing awareness about the health benefits of hemp products, including its high nutritional value and sustainability, is fueling consumer interest. Additionally, the legalization of hemp cultivation in several countries, coupled with the expanding legalization of cannabis for medical and recreational purposes, is creating new opportunities for the hemp industry. The versatile nature of hemp, its eco-friendly characteristics, and its potential as a sustainable alternative to traditional raw materials are also contributing to the market growth. In addition, advancements in technology for hemp cultivation and processing are further driving market expansion.
Various governments around the world have been implementing policies related to the Global Hemp Market in recent years. These policies typically focus on the legalization of industrial hemp cultivation and the regulation of hemp-derived products such as CBD. Countries like the United States have passed the Farm Bill, legalizing hemp production and removing it from the list of controlled substances. In Europe, the European Union has established regulations for hemp cultivation and the marketing of hemp products. Other countries have also been exploring opportunities in the hemp market, leading to a global trend of liberalizing regulations to support the growing industry. Overall, government policies related to the Global Hemp Market are increasingly favorable, creating a conducive environment for the expansion and development of the hemp industry on a global scale.
The Global Hemp Market is expected to witness significant growth in the coming years due to the increasing awareness about the health benefits and versatile applications of hemp across various industries such as food and beverage, textiles, pharmaceuticals, and personal care products. The legalization of hemp cultivation in many countries, along with the rising demand for sustainable and eco-friendly products, is driving the market expansion. Additionally, the growing popularity of CBD-infused products is further boosting the market growth. Factors such as technological advancements in hemp cultivation, research and development activities, and the emergence of innovative hemp-based products are expected to fuel the market`s growth trajectory in the near future, making it a lucrative sector for investment and business opportunities.
Asia is expected to witness significant growth in the global hemp market due to the increasing adoption of hemp-based products in countries like China and India. North America is currently the largest market for hemp, driven by the legalization of industrial hemp in the US and the growing demand for hemp-derived CBD products. In Europe, there is a rising interest in hemp for its sustainability and eco-friendly properties, leading to various applications in textiles, food, and construction. The Middle East and Africa region is also showing potential for hemp market growth, with countries like South Africa exploring the cultivation of industrial hemp. Latin America is emerging as a key region for hemp production, particularly in countries like Uruguay and Colombia, where hemp cultivation is legal and expanding to meet the growing demand for hemp-based products.
Global Hemp Market |
1 Executive Summary |
2 Introduction |
2.1 Key Highlights of the Report |
2.2 Report Description |
2.3 Market Scope & Segmentation |
2.4 Research Methodology |
2.5 Assumptions |
3 Global Hemp Market Overview |
3.1 Global Regional Macro Economic Indicators |
3.2 Global Hemp Market Revenues & Volume, 2021 & 2031F |
3.3 Global Hemp Market - Industry Life Cycle |
3.4 Global Hemp Market - Porter's Five Forces |
3.5 Global Hemp Market Revenues & Volume Share, By Regions, 2021 & 2031F |
3.6 Global Hemp Market Revenues & Volume Share, By Type, 2021 & 2031F |
3.7 Global Hemp Market Revenues & Volume Share, By Source, 2021 & 2031F |
3.8 Global Hemp Market Revenues & Volume Share, By Consumer Age Group, 2021 & 2031F |
3.9 Global Hemp Market Revenues & Volume Share, By Application, 2021 & 2031F |
4 Global Hemp Market Dynamics |
4.1 Impact Analysis |
4.2 Market Drivers |
4.3 Market Restraints |
5 Global Hemp Market Trends |
6 Global Hemp Market, 2021 - 2031 |
6.1 Global Hemp Market, Revenues & Volume, By Type, 2021 - 2031 |
6.1.1 Overview & Analysis |
6.1.2 Global Hemp Market, Revenues & Volume, By Hemp Seed, 2021 - 2031 |
6.1.3 Global Hemp Market, Revenues & Volume, By Hemp Seed Oil, 2021 - 2031 |
6.1.4 Global Hemp Market, Revenues & Volume, By CBD Hemp Oil, 2021 - 2031 |
6.1.5 Global Hemp Market, Revenues & Volume, By Others, 2021 - 2031 |
6.2 Global Hemp Market, Revenues & Volume, By Source, 2021 - 2031 |
6.2.1 Overview & Analysis |
6.2.2 Global Hemp Market, Revenues & Volume, By Conventional, 2021 - 2031 |
6.2.3 Global Hemp Market, Revenues & Volume, By Organic, 2021 - 2031 |
6.3 Global Hemp Market, Revenues & Volume, By Consumer Age Group, 2021 - 2031 |
6.3.1 Overview & Analysis |
6.3.2 Global Hemp Market, Revenues & Volume, By 18-24, 2021 - 2031 |
6.3.3 Global Hemp Market, Revenues & Volume, By 25-34, 2021 - 2031 |
6.3.4 Global Hemp Market, Revenues & Volume, By 35-44, 2021 - 2031 |
6.3.5 Global Hemp Market, Revenues & Volume, By 45-54, 2021 - 2031 |
6.3.6 Global Hemp Market, Revenues & Volume, By 55-64, 2021 - 2031 |
6.3.7 Global Hemp Market, Revenues & Volume, By Above 65, 2021 - 2031 |
6.4 Global Hemp Market, Revenues & Volume, By Application, 2021 - 2031 |
6.4.1 Overview & Analysis |
6.4.2 Global Hemp Market, Revenues & Volume, By Personal Care Product, 2021 - 2031 |
6.4.3 Global Hemp Market, Revenues & Volume, By Textiles, 2021 - 2031 |
6.4.4 Global Hemp Market, Revenues & Volume, By Pharmaceuticals, 2021 - 2031 |
6.4.5 Global Hemp Market, Revenues & Volume, By Construction & Materials, 2021 - 2031 |
6.4.6 Global Hemp Market, Revenues & Volume, By Others, 2021 - 2031 |
7 North America Hemp Market, Overview & Analysis |
7.1 North America Hemp Market Revenues & Volume, 2021 - 2031 |
7.2 North America Hemp Market, Revenues & Volume, By Countries, 2021 - 2031 |
7.2.1 United States (US) Hemp Market, Revenues & Volume, 2021 - 2031 |
7.2.2 Canada Hemp Market, Revenues & Volume, 2021 - 2031 |
7.2.3 Rest of North America Hemp Market, Revenues & Volume, 2021 - 2031 |
7.3 North America Hemp Market, Revenues & Volume, By Type, 2021 - 2031 |
7.4 North America Hemp Market, Revenues & Volume, By Source, 2021 - 2031 |
7.5 North America Hemp Market, Revenues & Volume, By Consumer Age Group, 2021 - 2031 |
7.6 North America Hemp Market, Revenues & Volume, By Application, 2021 - 2031 |
8 Latin America (LATAM) Hemp Market, Overview & Analysis |
8.1 Latin America (LATAM) Hemp Market Revenues & Volume, 2021 - 2031 |
8.2 Latin America (LATAM) Hemp Market, Revenues & Volume, By Countries, 2021 - 2031 |
8.2.1 Brazil Hemp Market, Revenues & Volume, 2021 - 2031 |
8.2.2 Mexico Hemp Market, Revenues & Volume, 2021 - 2031 |
8.2.3 Argentina Hemp Market, Revenues & Volume, 2021 - 2031 |
8.2.4 Rest of LATAM Hemp Market, Revenues & Volume, 2021 - 2031 |
8.3 Latin America (LATAM) Hemp Market, Revenues & Volume, By Type, 2021 - 2031 |
8.4 Latin America (LATAM) Hemp Market, Revenues & Volume, By Source, 2021 - 2031 |
8.5 Latin America (LATAM) Hemp Market, Revenues & Volume, By Consumer Age Group, 2021 - 2031 |
8.6 Latin America (LATAM) Hemp Market, Revenues & Volume, By Application, 2021 - 2031 |
9 Asia Hemp Market, Overview & Analysis |
9.1 Asia Hemp Market Revenues & Volume, 2021 - 2031 |
9.2 Asia Hemp Market, Revenues & Volume, By Countries, 2021 - 2031 |
9.2.1 India Hemp Market, Revenues & Volume, 2021 - 2031 |
9.2.2 China Hemp Market, Revenues & Volume, 2021 - 2031 |
9.2.3 Japan Hemp Market, Revenues & Volume, 2021 - 2031 |
9.2.4 Rest of Asia Hemp Market, Revenues & Volume, 2021 - 2031 |
9.3 Asia Hemp Market, Revenues & Volume, By Type, 2021 - 2031 |
9.4 Asia Hemp Market, Revenues & Volume, By Source, 2021 - 2031 |
9.5 Asia Hemp Market, Revenues & Volume, By Consumer Age Group, 2021 - 2031 |
9.6 Asia Hemp Market, Revenues & Volume, By Application, 2021 - 2031 |
10 Africa Hemp Market, Overview & Analysis |
10.1 Africa Hemp Market Revenues & Volume, 2021 - 2031 |
10.2 Africa Hemp Market, Revenues & Volume, By Countries, 2021 - 2031 |
10.2.1 South Africa Hemp Market, Revenues & Volume, 2021 - 2031 |
10.2.2 Egypt Hemp Market, Revenues & Volume, 2021 - 2031 |
10.2.3 Nigeria Hemp Market, Revenues & Volume, 2021 - 2031 |
10.2.4 Rest of Africa Hemp Market, Revenues & Volume, 2021 - 2031 |
10.3 Africa Hemp Market, Revenues & Volume, By Type, 2021 - 2031 |
10.4 Africa Hemp Market, Revenues & Volume, By Source, 2021 - 2031 |
10.5 Africa Hemp Market, Revenues & Volume, By Consumer Age Group, 2021 - 2031 |
10.6 Africa Hemp Market, Revenues & Volume, By Application, 2021 - 2031 |
11 Europe Hemp Market, Overview & Analysis |
11.1 Europe Hemp Market Revenues & Volume, 2021 - 2031 |
11.2 Europe Hemp Market, Revenues & Volume, By Countries, 2021 - 2031 |
11.2.1 United Kingdom Hemp Market, Revenues & Volume, 2021 - 2031 |
11.2.2 Germany Hemp Market, Revenues & Volume, 2021 - 2031 |
11.2.3 France Hemp Market, Revenues & Volume, 2021 - 2031 |
11.2.4 Rest of Europe Hemp Market, Revenues & Volume, 2021 - 2031 |
11.3 Europe Hemp Market, Revenues & Volume, By Type, 2021 - 2031 |
11.4 Europe Hemp Market, Revenues & Volume, By Source, 2021 - 2031 |
11.5 Europe Hemp Market, Revenues & Volume, By Consumer Age Group, 2021 - 2031 |
11.6 Europe Hemp Market, Revenues & Volume, By Application, 2021 - 2031 |
12 Middle East Hemp Market, Overview & Analysis |
12.1 Middle East Hemp Market Revenues & Volume, 2021 - 2031 |
12.2 Middle East Hemp Market, Revenues & Volume, By Countries, 2021 - 2031 |
12.2.1 Saudi Arabia Hemp Market, Revenues & Volume, 2021 - 2031 |
12.2.2 UAE Hemp Market, Revenues & Volume, 2021 - 2031 |
12.2.3 Turkey Hemp Market, Revenues & Volume, 2021 - 2031 |
12.3 Middle East Hemp Market, Revenues & Volume, By Type, 2021 - 2031 |
12.4 Middle East Hemp Market, Revenues & Volume, By Source, 2021 - 2031 |
12.5 Middle East Hemp Market, Revenues & Volume, By Consumer Age Group, 2021 - 2031 |
12.6 Middle East Hemp Market, Revenues & Volume, By Application, 2021 - 2031 |
13 Global Hemp Market Key Performance Indicators |
14 Global Hemp Market - Export/Import By Countries Assessment |
15 Global Hemp Market - Opportunity Assessment |
15.1 Global Hemp Market Opportunity Assessment, By Countries, 2021 & 2031F |
15.2 Global Hemp Market Opportunity Assessment, By Type, 2021 & 2031F |
15.3 Global Hemp Market Opportunity Assessment, By Source, 2021 & 2031F |
15.4 Global Hemp Market Opportunity Assessment, By Consumer Age Group, 2021 & 2031F |
15.5 Global Hemp Market Opportunity Assessment, By Application, 2021 & 2031F |
16 Global Hemp Market - Competitive Landscape |
16.1 Global Hemp Market Revenue Share, By Companies, 2024 |
16.2 Global Hemp Market Competitive Benchmarking, By Operating and Technical Parameters |
17 Top 10 Company Profiles |
18 Recommendations |
19 Disclaimer |