[Latest] Industrial Hemp Market Size Will Attain USD 46.41 Billion by 2032 Growing at 21.1% CAGR - Exclusive Report by Zion Market Research | Global Industrial Hemp Market Size, Share, Trends Analysis Report

The global industrial hemp market size is projected to reach USD 46.41 billion by 2032 from its value of USD 8.29 billion in 2023, at a CAGR of 21.1% during the forecast period (2024- 2032), as highlighted in a report published by Zion Market Research

NEW YORK, USA, Aug. 06, 2025 (GLOBE NEWSWIRE) -- Zion Market Research has published a new research report titled “Industrial Hemp Market By Type (Seeds, Fiber, And Shivs), By Application (Animal Care, Textiles, Automotive, Furniture, Food & Beverages, Paper, Construction Materials, Personal Care, And Others), And By Region - Global And Regional Industry Overview, market Intelligence, Comprehensive Analysis, Historical Data, And Forecasts 2024-2032” in its research database.

“According to the latest research study, the global industrial hemp market size was valued at around USD 8.29 billion in 2023. The market is expected to grow at a CAGR of 21.1% and is anticipated to reach a value of USD 46.41 billion by 2032.”

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Industrial Hemp Market Overview:

Industrial hemp refers to a variety of the cannabis sativa plant specifically grown for industrial and commercial applications. The market is dedicated to the cultivation, processing, and distribution of cannabis sativa plants containing less than 0.3% THC for commercial applications. These crops provide raw materials for textiles, construction materials, food products, personal care items, and CBD extracts. Industrial hemp serves multiple industries with sustainable alternatives to conventional materials, offering superior environmental benefits through carbon sequestration and reduced resource consumption. Advanced processing technologies now enable more efficient extraction and refinement of hemp derivatives.

Report Scope:

Report Attribute	Report Details
Market Size in 2023	USD 8.29 Billion
Market Forecast in 2032	USD 46.41 Billion
Growth Rate	CAGR of 21.1%
Base Year	2023
Forecast Years	2024- 2032
Key Companies Covered	Industrial Hemp Manufacturing, Hemp-E, Mollerup, Valley Bio Limited, Hemp, Inc., Bombay Hemp Company, UAB Agropro, Hemp Oil Canada, HempFlax, and Hemp Food Australia
Segments Covered	By Type, By Application, and By Region
Regions Covered	North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa
Customization Scope	Avail customized purchase options to meet your exact research needs.

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Key Insights from Primary Research

As per the analysis, the industrial hemp market share is likely to grow above a CAGR of around 21.1% between 2024 and 2032.
The industrial hemp market size was worth around US$ 8.29 billion in 2023 and is estimated to hit approximately US$ 46.41 billion by 2032. Due to a variety of driving factors, the market is predicted to rise at a significant rate.
Based on type, the seeds segment is growing at a high rate and is projected to dominate the global market.
On the basis of application, the textiles segment is projected to swipe the largest market share.
On the basis of region, North America is expected to dominate the global market during the forecast period.

Industrial Hemp Market: Growth Drivers

Industrial hemp is an exceptionally renewable resource. The crop, once harvested, generates a high yield of edible proteins and fibers, with over 50,000 product applications. The need for industrial hemp products is increasing significantly daily, due to the rising health awareness among global consumers. The increasing global demand for hemp-based food items is expected to drive the global industrial hemp market over the forecast period.

Consumers are majorly switching to natural products, which is further likely to fuel the industrial hemp market in the upcoming years. Industrial hemp has major applications in fuel, textiles, biodegradable plastics, healthy food, paper making, and the construction industries. It can also be used as an alternative for various products, such as tree paper and as raw material for the production of plastics and cosmetics. Additionally, the rising need for a healthy lifestyle is also predicted to provide significant growth opportunities to the players engaged in the industrial hemp market.

Browse the full “Industrial Hemp Market By Type (Seeds, Fiber, And Shivs), By Application (Animal Care, Textiles, Automotive, Furniture, Food & Beverages, Paper, Construction Materials, Personal Care, And Others), And By Region - Global And Regional Industry Overview, market Intelligence, Comprehensive Analysis, Historical Data, And Forecasts 2024-2032” Report at https://www.zionmarketresearch.com/report/industrial-hemp-market

Industrial Hemp Market: Segmentation

The report includes major segments like type, application, and region.

Based on type, the global industrial hemp market includes seeds, fiber, and shivs. The seeds segment accounted for a significant market share in 2023, due to the increasing demand for seedcakes, oil, and numerous nutraceutical and food products. Nutraceutical products have high nutritional value and fatty acid content. The fiber segment contributed a substantial revenue share in 2023, due to the increasing product demand from the textile industry to produce spun fibers, yarns, and a wide range of industrial textiles.

Based on application, the global industrial hemp market includes animal care, textiles, automotive, furniture, food and beverages, paper, construction materials, personal care, and others. The textiles segment contributed a major revenue share to the global market in 2023. This can be attributed to the increasing demand for industrial hemp for the manufacturing of consumer (fine textiles, apparel, denim, fabrics, etc.) and industrial textiles.

Regional Analysis:

By region, the North America region contributed a major revenue share to the global industrial hemp market in the year 2023. This regional share can be attributed to the increasing demand for fiber- and seed-based products that are majorly used in personal care, cosmetics, textiles, and food and beverage industries. The Asia Pacific industrial hemp market is predicted to register the highest growth rate over the forecast timeframe, owing to the increasing use of fibers in the manufacturing of biodegradable textiles.

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Competitive Landscape:

The report contains qualitative and quantitative research on the global industrial hemp market, as well as detailed insights and development strategies employed by the leading competitors.

Some of the main players in the global industrial hemp market include;

Industrial Hemp Manufacturing
Hemp-E
Mollerup
Valley Bio Limited
Hemp Inc.
Bombay Hemp Company
UAB Agropro
Hemp Oil Canada
HempFlax
Hemp Food Australia

Recent Industry Developments:

In 2024, Canopy Growth launched an innovative hemp-based biodegradable packaging solution targeting the food and beverage industry, addressing the growing demand for sustainable packaging alternatives.
In 2024, Hempco Food and Fiber introduced a patented decortication technology that significantly increases fiber yield and quality, enhancing economic viability for industrial applications.

The global industrial hemp market is segmented as follows:

By Type

Seeds
Fiber
Shivs

By Application

Animal Care
Textiles
Automotive
Furniture
Food and Beverages
Paper
Construction Materials
Personal Care
Others

By Region

North America
- The U.S.
- Canada
Europe
- France
- The UK
- Spain
- Germany
- Italy
- Rest of Europe
Asia Pacific
- China
- Japan
- India
- Southeast Asia
- Rest of Southeast Asia
The Middle East & Africa
- GCC
- South Africa
- Rest of the Middle East & Africa
Latin America
- Brazil
- Argentina
- Rest of Latin America

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Key Questions Answered in This Report:

What is the industrial hemp?
Which key factors will influence industrial hemp market growth over 2024-2032?
What will be the value of the industrial hemp market during 2024-2032?
What will be the CAGR value of the industrial hemp market during 2024-2032?
Which region will contribute notably towards the industrial hemp market value?
Which are the major players leveraging the industrial hemp market growth?
What can be expected from the global industrial hemp market report?

Key Offerings:

Full in-depth analysis of the parent market
Important changes in market dynamics
Segmentation details of the market
Former, on-going, and projected market analysis in terms of volume and value
Assessment of niche industry developments
Market share analysis
Key strategies of major players
Emerging segments and regional markets
Testimonials to companies in order to fortify their foothold in the market

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