According to a recent report by Reports and Data, the global Industrial hemp Product Market is projected to reach USD 115.13 billion by 2030, with a compound annual growth rate (CAGR) of 33.8% during the forecast period. The market growth is anticipated to be driven by increasing demand for hemp-based plastic and renewable raw materials, particularly as an alternative to conventional plastic due to rising awareness about the negative impact of polythene. Hemp contains around 65-70% cellulose, which can be used to manufacture a range of plastics, including cellophane, celluloid, and rayon, and some bioplastics are made from a combination of hemp and other plant sources.

Hemp is also known for being a carbon-negative crop that can help combat greenhouse gas emissions and promote soil remediation. Hemp requires less water than corn and grows at a faster rate. As a result, there is a growing demand for sustainable farming practices and renewable raw materials that have minimal greenhouse gas emissions. Governments of various countries have recognized the broad utility of hemp plants and their contribution to climate conservation, leading to their legalization for industrial and commercial purposes.

However, the lack of uniform standards and regulations in regional markets and a shortage of commercial mechanisms and processing plants for the production of hemp material have led to slow market growth. This factor is a significant impediment to the global market’s growth.

To get a sample copy of the report, click on @ https://www.reportsanddata.com/download-free-sample/1372

Companies profiled in the global market report:

 Marijuana Company of America Inc., Bombay Hemp Company Private Limited, Hempmeds Medicamentos Do Brasil Ltda, Unrivaled Brands Inc., Industrial hemp Product Manufacturing LLC, American Hemp LLC, Plains Industrial hemp Product Processing Ltd., Hemp Foods Australia Pty. Ltd., Blue Sky Hemp Ventures Ltd., and Charlotte’s Web.

Some key highlights from the report include:

• Bombay Hemp Company Private Limited (BOHECO), an India-based company, raised USD 2 million from the Vi-John Group and RRB Energy Ltd. in November 2021 to bolster manufacturing and production, improve quality control, build omnichannel distribution capabilities, pursue customer acquisitions, and expand BOHECO Life, its direct-to-consumer health, wellness, and nutrition brand.
• The seeds segment is projected to account for the largest revenue share in the global industrial hemp Product market between 2021 and 2030, driven by rising demand for hemp seed oil extracted from cold-pressed hemp seeds.
• The food and beverages segment is expected to register significant growth during the forecast period due to increasing demand for hemp oil, which is rich in healthy fats and consists of essential amino acids that can be used for cooking purposes and cannabis-based beverages.
• The North American market is expected to register a higher growth rate during the forecast period than other regional markets due to the high presence of hemp cultivators and numerous start-ups offering a wide array of hemp products to meet rapid consumer demand.

To know more about the report @ https://www.reportsanddata.com/report-detail/industrial-hemp-market

Get Explore Latest Research Report by Reports and Data:

https://www.flowershow.org.uk/?URL=https://www.reportsanddata.com/

https://kimseverson.com/?URL=https://www.reportsanddata.com/

https://soundmindinvesting.com/?URL=https://www.reportsanddata.com/

https://mobile.thomasandfriends.jp/TRF001/?url=https://www.reportsanddata.com/

http://www.yapi.com.tr/kategorisponsorsayfasinagit?categoryid=22&redirectionlink=https://www.reportsanddata.com https://shorefire.com/?URL=https://www.reportsanddata.com/

About Reports and Data

Reports and Data is a market research and consulting company that provides syndicated research reports, customized research reports, and consulting services. Our solutions purely focus on your purpose to locate, target, and analyse consumer behaviour shifts across demographics, across industries, and help clients to make smarter business decisions. We offer market intelligence studies ensuring relevant and fact-based research across multiple industries, including Healthcare, Touch Points, Chemicals, Products, and Energy. We consistently update our research offerings to ensure our clients are aware of the latest trends existent in the market. Reports and Data has a strong base of experienced analysts from varied areas of expertise. Our industry experience and ability to develop a concrete solution to any research problems provides our clients with the ability to secure an edge over their respective competitors.

Contact Us:

John W
Head of Business Development
Direct Line: +1-212-710-1370
E-mail: [email protected]
Reports and Data | Web: www.reportsanddata.com