Industrial Hemp Market Expected to Grow at a Healthy CAGR of 18.3% in Terms of Value Over the Forecast Period 2018-2027- Persistence Market Research - Seite 2

Among the nature segments in the global Industrial Hemp market, the conventional segment is expected to dominate in terms of volume, over the other segments, attributing to its lower price as well as easy accessibility in the various region across the globe. The preference for an organic segment is growing in developed and developing countries along with on-going Organic trend as well as increased spending capacity of the consumers. The organic segment is expected to show robust growth during the forecast period.

Industrial Hemp Market: Drivers and Restraints 

Industrial hemp is an annual crop and shows its application extensively wide range of products. Rising population, changing lifestyle as well as increasing disposable income, have led to increasing in demand for sustainable as well as high-quality personal care and cosmetics, supplements and high nutritive food products prove to be the prominent driver for industrial hemp market. The increasing tendency of consumers to opt for products made from natural ingredients is driving the industrial hemp market.

Global Industrial Hemp Consumption Market Study: https://www.persistencemarketresearch.com/market-research/industrial-hemp-market.asp

Industrial hemp has used the production of paper, plastic as well as fiber material which is potentially used to replace environmentally harming products like tree paper, plastics material. The rising concern about the environment is driving consumers to opt for products made with renewable material like industrial hemp. Industrial Hemp shows its application as a durable and cost-efficient as well as carbon neutral alternative to insulation material used in various automotive as well as construction.  The ever-increasing automobile as well as the construction industry, directly increases the demand for industrial hemp, hence driving the global industrial hemp market in a positive way. With the rising awareness along with an increasing number of applications almost in every sector, the demand for industrial hemp is expected to rise in robustly over the forecast period.

Erratic production and supply of raw material due the change in climate or other environmental factors is one the restraints industrial hemp market. The major production of industrial hemp comes from like 3-5 countries, any change policies or lawsuits about the production of industrial hemp in these regions can directly have a negative effect on the industrial hemp market.