Global industrial hemp market is anticipated to grow at a CAGR of more than 30% over the forecast period. The global report titled Industrial Hemp Market is recently added by Absolute Markets Insights to its vast database. The report offers a fundamental overview of the global Industrial Hemp market by examining the current market scenario. It also provides insight into the competitive scenario. The analytical report uses primary and secondary research methods. Additionally, the report also offers significant business profiles of sellers and vendors of the Industrial Hemp market.
Vendor Profiling: Industrial Hemp Market: BAFA Neu GmbH, Canah International, Cavac, Colorado Hemp Works, LLC, Dun Agro Hemp Group, Ecofibre, GenCanna Global USA, Inc., Hemp Inc. (Industrial Hemp Manufacturing, LLC), Hemp Oil Canada, Hemp Production Services, Hempco, Hempflax, HempFlax Group B.V.K, HemPoland, Konoplex LLC, MH medical hemp, Plains Industrial Hemp Processing Ltd. and South Hemp Tecno
For more information about this report visit: https://www.absolutemarketsinsights.com/reports/Global-Industrial-Hemp-Market-2019-2027-657
CBD hemp oil is one of the most common active ingredient derived from hemp plant and is used for a wide variety of health issues. CBD is most commonly used in the treatment of childhood epilepsy syndromes, such as Dravet syndrome and Lennox-Gastaut syndrome (LGS). In, June 2018, U.S. Food and Drug Administration agency approved CBD based Epidiolex oral solution of Greenwich Biosciences, Inc. for treatment of seizures associated with aforementioned forms of epilepsy. CBD is also used to treat anxiety, insomnia, pain and inflammation due to arthritis and many other chronic pains. This wide array of applications is driving the share of CBD hemp oil across global industrial hemp market.
Automotive industry is major contributor towards growing pollution levels around the world. The Australian Department of Transport and Main Roads stated in a press release of 2017 that vehicles account for 70% of the total pollution in the country. This alarming rise in the automotive pollution from tail pipe and during manufacturing is creating demand for greener alternatives. Composites, fibres, plastics and other materials made from industrial hemp is being used to produce body parts of vehicles to reduce the carbon footprint of automotive companies.
North America region registered the highest share in global industrial hemp market in 2018. Legalization of industrial hemp cultivation across developed nations of North America has greatly influenced the share of this region in global industrial hemp market by allowing companies to take part in this market as new or as existing players. For instance, the U.S Food and Drug Administration agency introduced the Farm Bill in December 2018 which removed industrial hemp or cannabis sativa and its derivatives with extremely low concentrations of the psychoactive compound from the definition of marijuana in the Controlled Substances Act (CSA).
Global Industrial Hemp Market: Research Scope
By Product Type
- Cannabidiol (CBD) Hemp Oil
- Hemp Fiber
- Hemp Powder/Dust
- Hemp Seed
- Hemp Seed Oil
- Others (Hemp Flour, Hemp Cake, Etc.)
By Application
- Textiles
- Automotive (Polymeric Composites, interior automotive plastic components)
- Door panels
- Instruments panels
- Engine covers
- Sun visors
- Air filters
- Structural Components
- Seat backs and exterior underfloor paneling
- Others
- Composites & Bio composite
- Fiberboard
- Heat Insulating Materials
- Building Construction (Fiber-Reinforced Concrete)
- Sound insulation and/or sound absorption
- Others (sporting goods or musical instruments, brake pad applications, etc.)
By Region
- North America
- Europe
- Asia Pacific
- Middle East and Africa
- Latin America
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