Industrial Hemp Market is anticipated to attain USD 21.16 billion by 2027 and is predicted to display a strong annual growth rate of 21.02% in the projection years of 2020 to 2027 with the factors such as intricate structure along with stringent government conventions hindering the growth of the market.
To overcome such hindrances, mounting investment for the product improvement will further boost various new opportunities for the market in the above mentioned forecast period.
According to Data Bridge Market Research, the market for industrial hemp is developing owing to certain factors such as rising demand of hemp based products along with rising awareness concerning the benefits of recreational hemp. Increasing prevalence of chronic disorders and increasing applications of hemp in different food products are also likely to enhance the growth of the market in the forecast period of 2020 to 2027.
Now the question is which are the other regions that industrial hemp market is targeting? Data Bridge Market Research has forecast a large growth in North America in the forecast period of 2020 to 2027 due to rising legalization of hemp products along with mounting demand of food and supplements in the region. On the contrary, Europe is seen to dominate the industrial hemp market due to the occurrence of large customer base along with growing applications in construction material and automotive industry.
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Industrial hemp market is segmented on the basis of countries into the U.S., Canada, Mexico in North America, Germany, Sweden, Poland, Denmark, Italy, U.K., France, Spain, Netherland, Belgium, Switzerland, Turkey, Russia, Rest of Europe in Europe, Japan, China, India, South Korea, New Zealand, Vietnam, Australia, Singapore, Malaysia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific (APAC) in Asia-Pacific (APAC), Brazil, Argentina, Rest of South America as a part of South America, UAE, Saudi Arabia, Oman, Qatar, Kuwait, South Africa, Rest of Middle East and Africa (MEA) as a part of Middle East and Africa (MEA).
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Key Market Competitors Covered in the Report
Above are the key players covered in the report, to know about more and exhaustive list of industrial hemp companies’ contact us https://www.databridgemarketresearch.com/toc/?dbmr=global-industrial-hemp-market
Data collection and base year analysis is done using data collection modules with large sample sizes. The market data is analyzed and forecasted using market statistical and coherent models. Also market share analysis and key trend analysis are the major success factors in the market report. To know more please request an analyst call or can drop down your enquiry.
The key research methodology used by DBMR research team is data triangulation which involves data mining, analysis of the impact of data variables on the market, and primary (industry expert) validation. Apart from this, data models include Vendor Positioning Grid, Market Time Line Analysis, Market Overview and Guide, Company Positioning Grid, Company Market Share Analysis, Standards of Measurement, Top to Bottom Analysis and Vendor Share Analysis. To know more about the research methodology, drop in an inquiry to speak to our industry experts.
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Global Industrial Hemp Market – Industry Trends and Forecast to 2027