Global Industrial Hemp Market to Reach USD 16.82 Billion by 2030, Driven by Booming Demand Across Personal Care, Food, and Sustainable Industries

The global industrial hemp market is experiencing rapid growth, valued at USD 5.49 billion in 2023 and projected to reach USD 16.82 billion by 2030, expanding at a robust CAGR of 17.5% from 2024 to 2030. This growth is fueled by increasing demand for hemp-derived products across sectors such as food & beverage, personal care, textiles, animal care, and construction materials

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Key Market Drivers

Hemp cultivation is gaining traction in China, Canada, and France, driven by rising global demand for eco-friendly materials in textiles, automotive parts, construction, and nutraceuticals. The U.S. has significantly expanded cultivation of low-THC (<0.3%) hemp, supported by legislative initiatives and investments. Additionally, the rising use of hemp-based personal care products, including lotions, shampoos, soaps, and massage oils, is accelerating market growth.

Consumer awareness regarding the nutritional value of hempseed and oil—rich in protein and omega-3/6 fatty acids—is further propelling the market. Hemp fibers are also being adopted in acoustic insulation, livestock bedding, and environmental remediation, such as oil spill cleanup.

Product Insights

In 2023, hemp seeds accounted for nearly 30% of total market revenue, driven by their integration into functional foods, cosmetics, and personal care products. Their oil is widely used in nutrition, pet care, and therapeutic products.

Hemp fibers are used in manufacturing paper, textiles, insulation, composites, and construction materials due to their strength, light weight, and biodegradability. Hemp shivs (hurds), known for their high absorbency, are increasingly utilized in animal bedding and eco-friendly building materials.

Application Insights

The textile industry led the application segment in 2023, owing to hemp fabric’s durability, UV resistance, and hypoallergenic properties. Hemp oil and seeds are also gaining popularity in animal feed and food and beverage products due to their rich nutrient profile. Additionally, hemp is making inroads into construction, replacing fiberglass in insulation and serving in materials like fiberboard, stucco, and acoustic panels.

Regional Insights

The Asia Pacific region led the global market in 2023, capturing over 33% of revenue share, driven by strong cultivation and consumption in China, India, Japan, Australia, and Thailand. Technological advancements and increasing health awareness are also boosting regional demand.

North America is a major consumer, driven by high disposable income and increased interest in hemp-based personal care and nutrition. In Europe, industrial hemp is widely used in automotive and construction sectors, with growing applications in food, supplements, and skincare products.

Competitive Landscape

Key market players are expanding cultivation and processing capabilities, with a focus on genetic improvement, yield optimization, and cost reduction. Leading companies are investing in R&D and technological upgrades to enhance fiber processing, product quality, and operational efficiency.

Recent Developments:

  • HempMeds Brasil (Jan 2023) launched two new full-spectrum hemp products tailored to Brazilian healthcare needs.

  • HempFlax Group (Oct 2021) invested USD 3.2 million to upgrade its Dutch processing facility, doubling fiber processing capacity and reducing energy consumption.

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