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Industrial Hemp Market Trends, Outlook, Overview and 2025 Forecast

Rising demand for oil in food and beverages owing to growing awareness regarding dietary advantages of hempseed and oil is expected to propel demand. The Global Industrial Hemp Market size is expected to reach USD 10.6 billion by 2025, according to a new report by Grand View Research, Inc. The market is anticipated to expand at a CAGR of 14.0% during the forecast period.

Growing population and rising disposable income are expected to result in an increased demand for high-quality cosmetics, personal care products, protein supplements, and other health food products. These factors are expected to be key driving factors for the market over the projected period.

Increasing R&D activities to develop perfect agronomy and new genetics of crops to obtain high yield and improved product quality have a positive impact on hemp production. Companies in the market operate with fiber treatment technology to make fibers water repellant, fire retardant, absorptive, and super soft, which is expected to drive demand.

Industrial hemp is an agricultural commodity and is highly dependent on climatic conditions, regulatory tolerance, and availability of labor. Countries such as China, the world’s leading producer of the crop, have never restricted cultivation and have an advantage of inexpensive labor. However, oversupply is likely to be a major concern for manufacturers over the forecast period.

To Know More About Industrial Hemp Market Please Visit Us @ https://www.grandviewresearch.com/industry-analysis/industrial-hemp-market

Market Segmentation of Industrial Hemp Market:

The Global Industrial Hemp Market segmented on the basis of Product, Application, and Region.

By Product:

    Seeds
    Fiber
    Shivs

By Application:

    Animal Care
    Textiles
    Automotive
    Furniture
    Food & Beverages
    Paper
    Construction Materials
    Personal Care

By Region:

    North America
    Europe
    Asia Pacific
    Central & South America
    Middle East & Africa

Inquire about Industrial Hemp Market with Our Experts @ https://www.grandviewresearch.com/inquiry/5150
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