Industrial Hemp Market Is Poised To Reach Around $10.6 Billion By 2025: Grand View Research, Inc.8/24/2018 The global industrial hemp market size is expected to reach USD 10.6 billion by 2025, according to a new report by Grand View Research, Inc. The market is anticipated to expand at a CAGR of 14.0% during the forecast period. Rising demand for oil in food and beverages owing to growing awareness regarding dietary advantages of hempseed and oil is expected to propel demand.
Growing population and rising disposable income are expected to result in an increased demand for high-quality cosmetics, personal care products, protein supplements, and other health food products. These factors are expected to be key driving factors for the market over the projected period. Increasing R&D activities to develop perfect agronomy and new genetics of crops to obtain high yield and improved product quality have a positive impact on hemp production. Companies in the market operate with fiber treatment technology to make fibers water repellant, fire retardant, absorptive, and super soft, which is expected to drive demand. Industrial hemp is an agricultural commodity and is highly dependent on climatic conditions, regulatory tolerance, and availability of labor. Countries such as China, the world’s leading producer of the crop, have never restricted cultivation and have an advantage of inexpensive labor. However, oversupply is likely to be a major concern for manufacturers over the forecast period. Full Research Report On Global Industrial Hemp Market Analysis: www.grandviewresearch.com/industry-analysis/industrial-hemp-market Further key findings from the report suggest:
www.grandviewresearch.com/industry/food-additives-nutricosmetics-flavors-and-fragrances Grand View Research has segmented the global industrial hemp market on the basis of product, application, and region: Industrial Hemp Product Outlook (Volume, Tons; Revenue, USD Million, 2014 - 2025)
www.grandviewresearch.com/press-release/global-industrial-hemp-market About Grand View Research Grand View Research, Inc. is a U.S. based market research and consulting company, registered in the State of California and headquartered in San Francisco. The company provides syndicated research reports, customized research reports, and consulting services. To help clients make informed business decisions, we offer market intelligence studies ensuring relevant and fact-based research across a range of industries, from technology to chemicals, materials and healthcare. For more information: www.grandviewresearch.com
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