2022 Industrial Hemp Market Size, Share & Trends Analysis Report – ResearchAndMarkets.com

2022 Industrial Hemp Market Size, Share & Trends Analysis Report – ResearchAndMarkets.com
CANNANNEW REPORT

DUBLIN–(BUSINESS WIRE)–The “Industrial Hemp Market Size, Share & Trends Analysis Report by Product (Seeds, Fiber, Shivs), by Application (Animal Care, Textiles, Personal Care), by Region (North America, APAC), and Segment Forecasts, 2022-2030” report has been added to ResearchAndMarkets.com’s offering. The global industrial hemp market size is expected to reach USD 16.75 billion by 2030, registering a CAGR of 16.8% The rising product demand from industries, such as agriculture, textiles, personal care, recycling, furniture, food & beverage, paper, and construction materials, is projected to propel market growth. Hemp is increasingly being used in medicinal products and nutritional supplements. The high nutritional values and beneficial fatty acid and protein profile of hemp are driving the demand for hemp products in the market. In addition, hemp oil is used in shampoos, soaps, lotions, bath gels, and other cosmetics, further benefiting the industry growth. The strength to weight ratio, high tensile strength, and flexural strength of industrial hemp offer desired benefits in bio-composites for automotive parts, fiberboard, aerospace, and packaging. Furthermore, the product demand from the textile, paper, and building materials markets is growing on account of its favorable acoustic and aesthetic properties. The rising demand for eco-friendly products in construction materials, fiberglass alternatives, thermal insulation, and automotive products is expected to promote market growth. The growing demand for technical products, such as varnishes, oil paints, fuel, solvents, chain-saw lubricants, printing inks, putty, and coatings, is expected to have a positive impact on the market growth. Industrial Hemp Market Report Highlights The seeds product segment accounted for the maximum revenue share in 2021 owing to the increased product usage in nutritional supplements &medicinal and therapeutic products, such as pharmaceuticals. The product demand in the personal care industry is anticipated to grow at the fastest CAGR from 2022 to 2030 as it increases the skin’s…

Excerpt only …
READ MORE BELOW
Source : 2022 Industrial Hemp Market Size, Share & Trends Analysis Report – ResearchAndMarkets.com

reposted by Cannabis News World

This site uses Akismet to reduce spam. Learn how your comment data is processed.