What is Global Hemp Market?
The global hemp market is a rapidly growing sector that encompasses the production, distribution, and sale of hemp-based products worldwide. Hemp, a variety of the Cannabis sativa plant species, is cultivated primarily for its industrial and medicinal uses. Unlike its cousin marijuana, hemp contains low levels of THC, the psychoactive compound, making it suitable for a wide range of applications. The market includes various products such as hemp seeds, hemp oil, hemp protein, and soft gel caps, among others. These products are utilized in numerous industries, including food and beverages, personal care, pharmaceuticals, and textiles. The increasing awareness of the health benefits associated with hemp products, coupled with the growing trend towards natural and organic products, is driving the market's expansion. Additionally, the legalization of hemp cultivation in several countries has further fueled market growth. The global hemp market is projected to reach significant milestones in the coming years, reflecting its potential as a versatile and sustainable resource.
Hemp Seeds, Hemp Oil, Hemp Protein, Soft Gel Caps, Others in the Global Hemp Market:
Hemp seeds are one of the most popular products in the global hemp market. They are rich in essential fatty acids, proteins, and other nutrients, making them a valuable addition to the diet. Hemp seeds can be consumed raw, roasted, or cooked and are often used in salads, smoothies, and baked goods. They are also processed to produce hemp oil, which is another significant product in the market. Hemp oil is extracted from the seeds and is known for its high content of omega-3 and omega-6 fatty acids. It is used in cooking, as a dietary supplement, and in skincare products due to its moisturizing and anti-inflammatory properties. Hemp protein, derived from hemp seeds, is a plant-based protein source that is gaining popularity among health-conscious consumers and athletes. It is used in protein powders, bars, and other nutritional supplements. Soft gel caps, which contain hemp oil or hemp extract, are another product category in the global hemp market. They offer a convenient way to consume hemp oil and are often used for their potential health benefits, including pain relief, anxiety reduction, and improved sleep. Other products in the market include hemp-based textiles, paper, and building materials, which highlight the versatility of hemp as a sustainable resource. The global hemp market continues to evolve, with new products and applications emerging, driven by consumer demand and regulatory changes.
Supermarkets, Convenience Stores, Others in the Global Hemp Market:
The usage of hemp products in supermarkets, convenience stores, and other retail outlets is becoming increasingly common as consumer awareness and demand for hemp-based products grow. Supermarkets often stock a wide range of hemp products, including hemp seeds, hemp oil, hemp protein, and soft gel caps. These products are typically found in the health food or organic sections of the store, catering to consumers looking for natural and nutritious options. Supermarkets provide a convenient and accessible platform for consumers to purchase hemp products, contributing to the market's growth. Convenience stores, on the other hand, offer a more limited selection of hemp products, focusing on items that are easy to consume on the go, such as hemp protein bars, snacks, and beverages. The presence of hemp products in convenience stores reflects the increasing mainstream acceptance of hemp as a health and wellness product. Other retail outlets, including specialty health food stores, online retailers, and pharmacies, also play a crucial role in the distribution of hemp products. Specialty health food stores often carry a broader range of hemp products, including niche items like hemp-based skincare products and supplements. Online retailers provide consumers with the convenience of shopping from home and access to a wider variety of products. Pharmacies are increasingly stocking hemp-based products, particularly those with potential medicinal benefits, such as soft gel caps and tinctures. The diverse range of retail outlets offering hemp products highlights the growing acceptance and integration of hemp into everyday consumer markets.
Global Hemp Market Outlook:
The global hemp market is anticipated to grow significantly, with projections indicating it will reach approximately US$ 6797.7 million by 2030, up from an estimated US$ 2071.8 million in 2024. This growth represents a compound annual growth rate (CAGR) of 21.9% between 2024 and 2030. The market is dominated by the top five hemp players, who collectively account for around 40% of the total global market. North America stands out as the largest consumer market for hemp, making up about 35% of the global consumption, followed by China and Europe. Among the various types of hemp products, hemp oil is the largest segment, holding a share of approximately 37%. This data underscores the significant potential and dynamic nature of the global hemp market, driven by increasing consumer demand and the expanding range of hemp-based products.
| Report Metric | Details |
| Report Name | Hemp Market |
| Accounted market size in 2024 | an estimated US$ 2071.8 million |
| Forecasted market size in 2030 | US$ 6797.7 million |
| CAGR | 21.9% |
| Base Year | 2024 |
| Forecasted years | 2024 - 2030 |
| Segment by Type |
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| Segment by Application |
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| By Region |
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| By Company | Manitoba Harvest, CW Hemp/CW Botanicals, Aphria, Canopy Growth Corporation, Nutiva, Agropro, CV Sciences, Isodiol, ENDOCA, Jinzhou Qiaopai Biotech, North American Hemp & Grain Co, Yunnan Industrial Hemp, GFR Ingredients Inc, Hempco, Yishutang, Naturally Splendid, BAFA neu GmbH, Aos Products, Suyash Herbs |
| Forecast units | USD million in value |
| Report coverage | Revenue and volume forecast, company share, competitive landscape, growth factors and trends |
