The organic hemp market is experiencing a significant growth, and will grow considerably in next few years. The market is driven by the growing demand for hemp oil and fibers in the automotive, construction, food and beverage, personal care, and textile industries; especially in emerging regions such as the Asia Pacific. Rising demand for oil paints, varnishes, printing inks, fuel, solvents, chain-saw lubricants, putty, and coatings is expected to further propel the product demand. In addition, growth in the investment for the production of hemp-based products is expected to drive the market growth. Low prices of hemp as a crop encourage farmers to diversify their crop options, which has increased the number of producers. The major market players focus on the full utilization of the crop to gain greater market share.
COVID-19 Impact analysis
- The consumers are shifting towards being health conscious and are looking for good and healthier foods and nutrients and organic hemp products accounts for one of them. So, the increase in the demand during COVID-19 can be witnessed.
- In the short term, the market demand will show Superior growth due to the increase in infections and reduced economic activity.
- However, the fact cannot be ignored that the spread of COVID-19 led to the lockdowns and supply chain disruptions and created problems in supply of the products.
Top Impacting Factors
- Rising awareness regarding the dietary advantages of its oil, coupled with the growing demand from the cosmetics and personal care industries is expected to drive the market growth.
- The global industrial hemp market is driven by the growing health and wellness sector. The market is accelerating owing to the extensive use of the product in various industries, such as textile, paper, food and beverage, personal care, construction, furniture, and automobile
- The increasing geriatric population and rising skin diseases caused by the increased UV light exposure across the world are giving rise to the demand for personal care products, especially products with organic ingredients. Thus, the rising demand for organic personal care products is aiding the market growth. The rising use of the product as a textile yarn and as an alternative to cotton and synthetic fibers is further bolstering the market growth.
Market Trends
Rise in demand for organic and clean label products
- The rise in the inclination of the consumers towards the organic and clean label products majorly drives the hemp market. The organic products are free from synthetic fertilizers and chemicals and negligible chances of biomagnification and so are preferred over non organic products. The consumption of organic products has increased because of factors such as environment sustainability and changing lifestyles of the consumers and thus, are fueling the growth of the organic hemp market.
- People and consumers are becoming more health-conscious these days and this has become a major reason for the consumption of organic products over non organic products. The various benefits offered by the organic products is another considerable factor for the driving growth of the organic hemp market.
- Wide applicability in bakery
- The food and beverages segment is leading because of the wider application of organic hemp seeds products in various food products such as cakes, salads, yoghurt and mocktails. The consumers are increasingly demanding the organic food products due to its nutritional benefits which have led to wide incorporation of the organic hemp seeds in the bakery segment, dietary supplements, beverages and others. The cosmetics and personal care segment is also boosting its demand for organic hemp products such as organic hemp seeds because it acts as a effective body moisturizer.
Key Benefits of the Report
- This study presents the analytical depiction of the Organic Hemp industry along with the current trends and future estimations to determine the imminent investment pockets.
- The report presents information related to key drivers, restraints, and opportunities along with detailed analysis of the Organic Hemp market share.
- The current market is quantitatively analyzed to highlight the Organic Hemp market growth scenario.
- Porter’s five forces analysis illustrates the potency of buyers & suppliers in the market.
- The report provides a detailed Organic Hemp market analysis based on competitive intensity and how the competition will take shape in coming years
Questions answered in the Report
- Who are the leading market players active in the Organic Hemp market?
- What current trends will influence the market in the next few years?
- What are the driving factors, restraints, and opportunities in the market?
- What future projections would help in taking further strategic steps?
- What is " Organic Hemp " Market prediction in the future?
- Which will be the niches at which players profiling with recent advancements should set a presence?
Organic Hemp Market Report Highlights
| Aspects | Details |
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 Key Market Players | GIGO Food, Just Hemp Foods, Canah International, Agropro, Mettrum Originals, Manitoba Harvest, North American Hemp & Grain Co., Elixinol, Naturally Splendid, GFR Ingredients Inc., Navitas Organics, Hemp Oil Canada, Nutiva, Hempco, Canada Hemp Foods, Jinzhou Qiaopai Biotech, Hemp Foods Australia, Yunnan Industrial Hemp, Yishutang, Braham & Murray |
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