The global industrial hemp market is on an impressive trajectory, with its estimated value reaching USD 6.8 billion in 2022 and projected to soar to USD 18.1 billion by 2027, marking a remarkable CAGR of 21.6% in terms of value. What’s driving this growth? Let’s dive in!

Hemp in the Food & Beverage Industry

One of the prime catalysts for this surge is the surging usage of hemp seeds in a wide array of food and beverage products. From cereals to yogurts, protein powders to hemp milk, the versatility of hemp as a nutrient-rich ingredient is turning heads in the F&B sector.

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Key Features of the Industrial Hemp Market

Behind this flourishing market lie several key features:

• Legalization and Deregulation: Many countries are easing restrictions on hemp cultivation, ensuring a steady supply of raw materials.
• Demand for Hemp-based Products: Textiles, paper, and building materials crafted from hemp are experiencing a high demand.
• Technological Advancements: Innovations in cultivation and processing are reducing costs and boosting efficiency.
• Sustainability: Hemp’s minimal water and pesticide requirements make it an eco-friendly alternative to traditional crops.
• Food & Beverage Marvel: Hemp’s journey into the F&B industry, particularly through hemp seeds and hemp oil, is reshaping menus worldwide.

Hemp in Food & Beverage: A Versatile Player

Within this sector, hemp is taking the lead in food and beverage applications. Here’s why:

• Nutrient Powerhouse: Hemp packs essential fatty acids, vitamins, and minerals, making it a valuable addition to various food products.
• Plant-based Protein: The global rise of veganism is boosting demand for hemp-based processed foods like bars, snacks, and cheese.
• Digestive Health: Hemp’s digestible fiber content is enhancing its role in food products, promoting better digestion.
• Hemp Snacking: Popular products like hemp tortilla chips, corn chips, and hemp hearts are making waves in the snacking world.
• Breakfast of Champions: Nutrient-rich hemp cereal is gaining traction, offering a wholesome start to the day.
• Post-exercise Fuel: Hemp snacks, with their high protein content, are becoming favored post-workout options.

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Europe Leads the Way

When it comes to growth in the industrial hemp market, Europe takes the spotlight. Here’s why:

• Hemp in F&B: Hemp seed and hemp seed oil are making their mark in European food, beverages, dietary supplements, and personal care products.
• Diverse Applications: Hemp fiber finds applications in automotive and construction materials for insulation and soundproofing.
• Popular Food Choice: The consumption of hemp seeds in food products such as smoothies, yogurt, cereals, and bars is thriving.
• Regional Demand: Countries like Germany and the Netherlands are witnessing soaring demand for hemp-based products.
• The industrial hemp market is not just a rising star; it’s a transformative force shaping industries and menus. Stay tuned as this journey unfolds, offering sustainable and innovative solutions to the world!

The report “Industrial Hemp Market by Type (Hemp Seed, Hemp Seed Oil, Hemp Fiber, and CBD Hemp Oil), Application (Food, Beverages, Personal Care Products, Textiles, and Pharmaceuticals), Source (Organic and Conventional), and Region – Global Forecast to 2025″, The industrial hemp market is projected to grow from USD 4.6 billion in 2019 to USD 26.6 billion by 2025, recording a compound annual growth rate (CAGR) of 34.0% during the forecast period. The major factors driving the growth of the industrial hemp market include increasing legalization in the cultivation of industrial hemp, functional properties of hemp seed and hemp seed oil, and their growing use in different food applications, and increase number of chronic diseases.

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The CBD hemp oil segment is projected to be the fastest-growing segment in the industrial hemp market during the forecast period.

The industrial hemp market is segmented, based on type, into hemp fiber, hemp seed, hemp seed oil, and CBD hemp oil. The CBD hemp oil segment is projected to be the fastest-growing segment in the industrial hemp market during the forecast period. This is attributed to the growing usage of CBD hemp oil in various applications such as personal care, health supplements, and food & beverages products. Furthermore, the numerous health benefits of CBD hemp oil make it useful to treat and prevent conditions like anxiety, depression, pain, and acne are also expected to drive the growth.

The food segment is projected to account for the largest market share in the industrial hemp market during the forecast period.

The industrial hemp market is segmented, based on application, into food, beverages, textiles, personal care products, pharmaceuticals, and others. The food segment is projected to be a leading segment in the industrial hemp market. This is attributed to the usage of hemp in food products, as these are rich in essential fatty acids (linoleic and linolenic); vitamin E; as well as minerals such as phosphorus, potassium, sodium, magnesium, calcium, zinc, iron, and protein. Hemp is mostly consumed in the form of hemp seed, raw or roasted. It is added to salads, smoothies, yogurt, and cereals. The growing consumption of plant-based protein, owing to the popularity of veganism, globally, is expected to increase the demand for hemp-based processed food products such as bars, flour, snacks, and cheese.

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The European region is projected to be the fastest-growing region in the industrial hemp market during the forecast period.

The European region is projected to be the fastest-growing region in the industrial hemp market during the forecast period owing to growth in consumption of hemp seeds as food as well as their wide application in other food products such as smoothies, yogurt, cereals, and bars especially in countries such as Germany and the Netherlands. Furthermore, increasing legalization of industrial hemp in the European region in the coming years is expected to boost the industrial hemp market.

Major vendors in the industrial hemp market include Hempco (Canada), Ecofibre (Australia), Hemp Inc. (US), GenCanna (US), HempFlax BV (Netherlands), Konoplex Group (Russia), Hemp Oil Canada (Canada), BAFA (Germany), Hemp Poland (Poland), Dun Agro (Netherlands), Colorado Hemp Works (US), Canah International (Romania), South Hemp Tecno (Italy), Plains Industrial Hemp Processing (Canada), and MH Medical Hemp (Germany).

The global industrial hemp market size is projected to grow from USD 4.6 billion in 2019 to USD 26.6 billion by 2025, recording a compound annual growth rate (CAGR) of 34.0% during the forecast period. Rising awareness among the consumers about the benefits of industrial hemp, increasing legalization to cultivate industrial hemp across different countries, and growing application scope of industrial hemp in diverse industries such as textile, pharmaceutical, food, beverages, personal care products, construction & material, furniture, and paper is driving the market for industrial hemp.

Key industrial hemp players include Hempco (Canada), Ecofibre (Australia), Hemp Inc. (US), GenCanna (US), HempFlax BV (Netherlands), Konoplex Group (Russia), Hemp Oil Canada (Canada), BAFA (Germany), Hemp Poland (Poland), Dun Agro (Netherlands), Colorado Hemp Works (US), Canah International (Romania), South Hemp Tecno (Italy), Plains Industrial Hemp Processing (Canada), and MH Medical Hemp (Germany). Agreements, joint ventures, and partnerships were the dominant strategies adopted by major players, followed by expansion. These strategies have helped them to increase their presence in different regions.

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Hempco, a subsidiary of Aurora Cannabis (Canada), is one of the leading manufacturers of cannabis products. Hempco is engaged in the processing of hemp-based products, such as hemp protein, hemp seed oil, and hemp fiber. It has developed a S.A.F.E soil program to provide chemical-free hemp crop and hemp-based products to consumers while achieving sustainable growth. The company strategies to capture the growing industrial hemp market all over the world. For instance, in March 2018, Hempco signed an agreement with Kane Veterinary Supplies, to supply its hemp-based animal supplements for pets and equine. This helped the company to capture the growing hemp-based animal health market in Canada.

Hemp Inc. (US) produces hemp-based products such as loss circulation material and absorbent used as a drilling fluid and to control oil spill, respectively. The company has nine divisions—the industrial hemp infrastructure, the hemp farming infrastructure, the hemp extraction infrastructure, the hemp educational infrastructure, accessories, products and services, research and development, industrial hemp investments and joint venture, and industrial hemp consulting. The company aims to provide hemp-based eco-friendly products to produce natural, sustainable products for worldwide markets, which can replace petroleum-based products. Through various joint ventures and agreements, the company strategies to expand its presence and product portfolio in the US. For instance, in January 2019, it formed a joint venture with Hemp Healthcare (US) to sell high-end CBD and hemp-based products.

According to the US Farm Bill 2014, industrial hemp is defined as, “the plant Cannabis sativa L. and any part of such plant, whether growing or not, with a delta-9 tetrahydrocannabinol (THC) concentration of not more than 0.3% on a dry weight basis.”

MarketsandMarkets projects that the global industrial hemp market is projected to grow from USD 4.6 billion in 2019 to USD 26.6 billion by 2025, recording a compound annual growth rate (CAGR) of 34.0% during the forecast period. The growing usage of hemp-derived seed as a superfood due to its rich nutritional profile and other health benefits is driving the market for industrial hemp. Furthermore, increasing legalization of hemp in different countries across the world is also driving the growth of industrial hemp.

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Hemp fiber is estimated to dominate the market for industrial hemp in 2019.  It is used primarily in the textile and pulp & paper industry, due to its long and robust fibers as compared to cotton. Furthermore, being a renewable source material, its application to obtain biofuels and bioplastics has been expected to increase its demand in the coming years.

Food is projected to be the dominating application segment of the industrial hemp market during the forecast period due to the wide application of hemp seeds and hemp seed oil in food products for their vitamins, proteins, and omega-3 fatty acid content. Hemp seeds are consumed raw or are used as a topping in cereals, smoothies, and yogurt. Rising consumer awareness about the benefits of consuming hemp-based products is driving the market for its application in food.

In terms of geographic coverage, the industrial hemp market has been segmented into four regions, namely, North America, Europe, Asia Pacific, and Rest of the World (RoW). Europe is projected to be the fastest-growing region during the forecast period owing to growth in consumption of hemp seeds as food as well as their broad application in other food products such as smoothies, yogurt, cereals, and bars especially in countries such as Germany and the Netherlands. Moreover, the rise in awareness among consumers about the nutritional benefits of consuming hemp is further expected to fuel the demand for hemp-based food and personal care products. Furthermore, increasing legalization of industrial hemp in the European region in the coming years is expected to boost the industrial hemp market.

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The increasing legalization of the cultivation of hemp provides enormous opportunities to the manufacturers and research institutions to develop new products from industrial hemp. Bioplastic is one such product that can be manufactured from the leftover of hemp seeds and CBD oil. Furthermore, biofuel derived from the hemp plant provides opportunities for the companies to explore this application of hemp as a fuel for automobiles. The growing consumer demand for sustainable goods, along with initiatives and support from corporate and government, is expected to support the growth of hemp-based biofuel and bioplastics in the coming years.