Industrial Hemp Market has significant scope for growth and is projected to reach USD 18.1 billion by 2027, recording a CAGR of 21.6% in terms of value.

The escalating product demand for manufacturing dent-resistant and lightweight automobile bodies, coupled with the rapidly expanding automotive industry, is driving the industrial hemp market across the globe.

Industrial Hemp Market has significant scope for growth and is projected to reach USD 18.1 billion by 2027, recording a CAGR of 21.6% in terms of value.

The hemp fiber segment is projected to dominate the market during the forecast period. Hemp has two types of fibers: bast (outer long fibers) and hurds (inner short fibers).

The increasing legalization of the cultivation of hemp is prompting the manufacturers and research institutions to develop new products from industrial hemp. Biofuel is one such application, which is expected to have significant growth potential in the up...

The global industrial hemp market size is expected to reach USD 16.75 billion by 2030, registering a CAGR of 16.8% over the forecast period, according to a new report by Grand View Research, Inc.

“Global Industrial Hemp Market – Strategic Recommendations, Trends, Segmentation, Use Case Analysis, Competitive Intelligence, Global and Regional Forecast To 2027”

The GMI Research report, the Industrial Hemp Market will encounter a massive growth over the forecast period. This is because of the aggravating application of hemp fiber in several industries, which include, construction, furniture, and agriculture.