How Big Is the Hemp Market | Growth & Future Trends 2025

Q: What is the current size of the hemp market?

The hemp market was valued at USD 10.7 billion in 2024.

Q: How fast is the hemp market growing?

It is expected to grow at a CAGR of 6.80% from 2025 to 2031.

Q: What are the major application areas in this market?

Key segments include textiles, CBD wellness products, food & beverages, and industrial uses.

Q: What factors are fueling growth in the hemp market?

Supportive regulatory frameworks, eco-conscious consumer behavior, and demand for plant-based solutions.

Q: What are the major challenges for this industry?

Challenges include regulatory uncertainties, processing limitations, and market fragmentation.

Q: How does 6W market outlook report help businesses in making decisions?

6W monitors the market across 60+ countries Globally, publishing an annual market outlook report that analyses trends, key drivers, Size, Volume, Revenue, opportunities, and market segments. This report offers comprehensive insights, helping businesses understand market dynamics and make informed decisions.

Q: Do you also provide customisation in the market study?

Yes, we provide customisation as per your requirements. To learn more, feel free to contact us on sales@6wresearch.com

Code: MTA6157

Publication Date: Jul 2025

How big is the Hemp Market?

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 market is witnessing strong growth, driven by the increasing adoption of hemp in textiles, food, personal care, pharmaceuticals, and industrial applications, supported by regulatory relaxations and rising consumer demand for sustainable and natural products.

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Key Growth Drivers of the Hemp Market

Positive regulatory efforts toward the planting and processing of hemp.
Increasing demand of plant-based ingredients in food, cosmetic and personal care.
Increasing industrial applications of hemp fiber as textile material, building and bioplastics.
The rising demand of hemp wellness product such as CBD oil.
Consumer education on sustainability and the eco friendliness of hemp crops.

Hemp Market Trends

The hemp market is fast evolving as more consumers are getting knowledgeable and accepting hemp-based products in various markets. CBD infused personal care, wellness, and therapeutic products are gaining demand, particularly with the millennials and the aging groups of population who want natural solutions. Hemp foods are also attracting attention, and hemp seeds, protein powders and hemp oils are now gaining popularity in the health-food market. Sustainability requirements and corporate ESG imperatives are leading hemp-based bioplastics, paper, fabrics, and building materials, such as hempcrete, in the industrial field to form viable alternatives to traditional materials.

Emerging Developments in the Hemp Market

Hemp market is experiencing a trend of green processing technologies including CO2 extraction and solvent free methods, to upgrade efficiency and purity of products. Firms are also interested in breeding high-yield and insect-tolerant varieties of hemp to enhance the return on the cultivation they are doing and the quality of the raw products. New avenues in industry are also being created by the emergence of hempcrete and fiber reinforced composites as part of sustainable construction. Also, farm to brand integration is gaining traction, with manufacturers cooperating directly with growers to guarantee traceability and parity in production.