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 Download Sample Pages- https://www.theresearchinsights.com/request_sample?id=3 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 rega...