Hemp Derivatives Market

Drivers

The demand for hemp-based textiles, and other hemp fiber products is increasing rapidly owing to their superior quality like strength, durability, and texture. Similarly, the rise in the use of modern construction materials in the automotive and construction sector is generating huge demand for stronger hemp biocomposites. Moreover, the emerging concept of hemp paper and bioplastic from hemp plants is likely to boost the market growth. Furthermore, new developments in nutrient-rich food and feed from hemp seeds are also contributing to the demand generation.

The growing pharmaceutical use of hemp CBD oil is one of the promising segments of the global hemp derivatives market.

Restraints

The strict government regulations for starting commercial hemp cultivation are a serious restraint for the Global hemp derivatives market. Moreover, stringent regulatory approvals for industrial hemp derivatives are hampering the market growth.

Technology Analysis

Hemp derivatives are commercial products obtained from the Industrial hemp plant i.e. Cannabis sativa L., having a THC content of not more than 0.3 % by dry weight on any part. Hemp derivatives such as hemp fiber, hemp seeds, hemp seed oil, Hemp-Derived CBD Oil, biocomposites, bioplastics, hemp paper have good industrial value.

Hemp fiber is obtained from the bark of the hemp plant and inner softwood is an excellent material for making biocomposites. Hemp seeds are nutritious food and are also used for extracting hemp oil.

Hemp fibers are used for producing premium quality textiles, ropes, insulation products, etc. Hemp oil is excellently rich in polyunsaturated fatty acids ( PUFA ) like Omega-3, Linoleic acid, and vitamins making it a suitable cooking oil for health-conscious people. Hemp-derived CBD oil that contains higher levels of cannabidiol is a highly demanding pharmaceutical product. Furthermore, other products derived from hemp plants such as Hemp seed food, hemp feed have good nutritional and market value.

Study Objectives

The specific objectives of this market report are given below:

• To provide a complete overview of the market.
• To analyze and forecast the hemp derivatives market in terms of value and volume.
• To provide information about the impact of covid 19 on the market and market response thereafter.
• To point out the problems and prospects of the hemp derivatives market.
• To give product manufacturing details.
• To provide an overview of the regional market and potentially growing segments.
• To identify the key players of the hemp derivatives industry.

Hemp Derivatives Market Segmentation

Hemp Derivatives Type Outlook

• Hemp Oil
• Hemp-Derived CBD Oil
• Hemp Fiber
• Others

Hemp fiber is the largest segment owing to high demand in the textile sector and paper industry. The sturdiness and quality of hemp fiber make it suitable for making not only clothes but also rope, bags, insulating materials, etc. Furthermore, hemp cultivation is less energy-intensive making it a sustainable crop in comparison with other fiber crops. However, hemp-derived CBD oil is getting a good response from the market due to its immense pharmaceutical benefits.

Hemp Derivatives Application Outlook

• Food & Beverages
• Pharmaceuticals
• Personal Care
• Textile
• Others

The textile industry makes most of the demand for hemp derivatives i.e. hemp fiber. Hemp textiles are stronger and more durable than other natural fibers. They are highly comfortable, attractive, and have antimicrobial properties that fetch them a good price in the market.

The pharmaceutical segment is also witnessing rapid growth with an increase in awareness about the medicinal benefits of CBD oil. Moreover, the legalization of the use of CBD oil for medical reasons is acting as a booster to the market growth.

Hemp Derivatives Regional Outlook

The different regional markets for the global hemp derivatives market are:

Americas

• North America
• US
• Canada
• Mexico
• South America

 Europe

• UK
• Germany
• France
• Italy
• Spain
• Rest of Europe

 Asia-Pacific

• China
• India
• Japan
• Australia & New Zealand
• Rest of Asia-Pacific

 Rest of the world ( RoW )

• The Middle East
• Africa

Asia-Pacific is the largest regional segment of the Global hemp derivatives market accounting for about 30% of the total market share. China is the leading producer and exporter of home products globally. Significant investment in hemp production technology and increasing legal cultivation are favoring the market growth in this region.

Europe also occupies a significant share in the global market. There is a high demand for hemp biocomposites for use in the automotive and construction industries. Moreover, the hemp paper industry is also gaining momentum leading to market growth in this region.

There is a high demand for hemp derivatives in the American market but stringent cultivation laws are hampering the market growth. The market for Hemp food and hemp oil having nutritional and medical benefits is increasing significantly. The market in the Middle East and African segment is expected to grow at a moderate rate over the forecast period.

Competitive Landscape

The major global companies playing a key role in the hemp derivatives market are :

• Hemp Oil Canada 
• GenCanna Global USA, Inc. (US)
• Ecofibre (Australia)
• MH Medical Hemp GmbH (Germany)
• Konoplex LLC (Russia)
• Canopy Growth Corporation (Canada)
• HempFlax Group B.V. (Netherlands)
• HemPoland (Poland)
• Bafa Neu GmbH (Germany)
• Hempco Inc. (Canada)
• Dutch Hemp Group (Netherlands)
• Colorado Hemp Works, LLC (US)

Recent Developments

In November 2021, Premier CBD Hub, a leading direct seller of cannabidiol products announced the launch of its new website and premium products. The website premiercbdhub.com is a one-place solution for getting all CBD Hub's products.

Intended Audience

This report will be beneficial for every stakeholder of the hemp derivatives market such as :

• Hemp derivatives Manufacturers
• Regulatory Bodies
• R&D institutes
• Potential Investors
• End users

Report Overview

This report from Market Research Future provides an in-depth analysis of the hemp derivatives market in terms of current value and future forecast. This report has highlighted the problems and prospects of the given market. Moreover, the technological analysis section of the report will greatly help in knowing the product and its market prospects.   Furthermore, this report contains a detailed analysis of every segment of the given market for the current forecast period. This report has also highlighted the key players and the current developments in the market. 

The Global Hemp Derivatives Market Industry is projected to maintain a steady market value of 56.8 USD Billion from 2024 through 2035. This stability suggests a mature market phase characterized by a CAGR of 0.0% for the period between 2025 and 2035. The consistent valuation indicates that while growth may not be exponential, the market remains resilient, supported by ongoing consumer interest and regulatory developments. This projection highlights the importance of strategic planning for stakeholders, as they navigate a landscape that is likely to evolve but not necessarily expand dramatically in the coming years.

The Global Hemp Derivatives Market Industry is witnessing a surge in demand for natural and organic products. Consumers are increasingly favoring hemp-derived goods due to their perceived health benefits and sustainability. This trend is evident in the food and beverage sector, where hemp seeds and oils are gaining traction as nutritious alternatives. The market's value is projected to reach 56.8 USD Billion in 2024, reflecting a growing consumer preference for natural ingredients. This shift towards health-conscious choices suggests a robust future for hemp derivatives, as they align with the global movement towards clean and sustainable living.

The Global Hemp Derivatives Market Industry benefits from increasing regulatory support and legalization across various regions. Governments are recognizing the economic potential of hemp cultivation and its derivatives, leading to favorable policies. For instance, the 2018 Farm Bill in the United States legalized hemp production, which has significantly boosted the market. This regulatory environment encourages investment and innovation in hemp derivatives, facilitating market growth. As more countries adopt similar measures, the industry is likely to expand, with projections indicating a steady market value of 56.8 USD Billion by 2035, suggesting a stable trajectory for the sector.

The Global Hemp Derivatives Market Industry is experiencing growth driven by increasing awareness of the health benefits associated with hemp products. Consumers are becoming more informed about the nutritional advantages of hemp seeds, oils, and CBD products. This heightened awareness is translating into higher demand for hemp-derived goods in dietary supplements and functional foods. As health-conscious consumers seek natural alternatives, the market is expected to thrive, with projections indicating a steady value of 56.8 USD Billion in 2024. This trend underscores the potential for hemp derivatives to become a staple in health and wellness sectors globally.

The versatility of hemp derivatives is a key driver for the Global Hemp Derivatives Market Industry. These products find applications in various sectors, including textiles, construction, food, and cosmetics. For example, hemp fibers are utilized in sustainable textiles, while hemp oil is increasingly used in skincare products. This diversity not only broadens the market's appeal but also mitigates risks associated with dependence on a single sector. As industries continue to explore innovative uses for hemp derivatives, the market is poised for growth, potentially maintaining its value at 56.8 USD Billion through 2035, with a projected CAGR of 0.0% from 2025 to 2035.

Investment in research and development is propelling the Global Hemp Derivatives Market Industry forward. Companies are focusing on enhancing product quality and discovering new applications for hemp derivatives. This commitment to innovation is evident in the development of advanced extraction techniques and formulations that maximize the benefits of hemp. As R&D efforts intensify, the market is likely to see the introduction of novel products that cater to evolving consumer preferences. This trend suggests a dynamic landscape for the industry, as ongoing advancements may contribute to maintaining the market value at 56.8 USD Billion by 2035.