Industrial Hemp Market Exhibiting At A CAGR Of 17.1% From 2023 To 2030Posted by Neha Bora on June 26th, 2023 San Francisco, 26 June 2023: The Report Industrial Hemp Market Size, Share & Trends Analysis Report By Product (Seeds, Fiber, Shivs), By Application (Animal Care, Textiles, Food & Beverages, Construction Materials, Personal Care), By Region, And Segment Forecasts, 2023 - 2030 The global industrial hemp market size is expected to reach USD 16.75 billion by 2030, registering a CAGR of 17.1% according to a new report by Grand View Research, Inc. 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. Access Research Report of Industrial Hemp Market @ https://www.grandviewresearch.com/industry-analysis/industrial-hemp-market Industrial Hemp Market Report Highlights
Industrial Hemp Market Report Scope
List of Key Players of Industrial Hemp Market
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