Market Forecast

The Global Hemp Derivatives Market is expected to cross USD 17 Billion by 2025 at a CAGR of 30.0% during the forecast period of 2019 to 2025. The global smarket is expected to be lucrative for the active vendors owing to the rising use of hemp derivatives in animal feed, biofuel, and bioplastics, among others. Market players are investing in R&D and introducing pet food products such as pet treats made from hemp. For instance, in September 2018, EastWest Bioscience, a Canadian hemp-based products manufacturer, launched the hemp-based pet products brand Natural Pet Science to cater to the rising demand for health-conscious pet treats. Additionally, the legalization of hemp in several countries has propelled market players to invest in the market and expand their presence across the globe.

Key Players

Hemp Oil Canada (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)
Market USP

Health benefits associated with hemp-based products

Growth Opportunities in the Market

Growth of the Food & Beverage Industry: Intensive research on hemp and its effect on human and animal health has led to the legalization of hemp in several countries. Hemp contains trace amounts of tetrahydrocannabinol (THC) and has proven to be beneficial as an anti-depressant, anti-inflammatory, antioxidant, and anti-carcinogenic. Owing to such benefits, the demand for hemp derivatives such as seed, oil, powder, and hemp-derived CBD oil is increasing in various food & beverage applications including snacks, beverages, dairy products, frozen desserts, and bakery products. The growth of the global food & beverage industry is expected to offer profitable growth opportunities to the market players by opening up new investment pockets.
By Application

Food & Beverages: It is expected to be the fastest-growing segment during the forecast period. Being a prominent source of vitamins, minerals, protein, and essential fatty acids, the demand for hemp derivatives is increasing in the food & beverage industry. Hemp derivatives in the form of seeds, oil, and protein powder are widely used in various food & beverage applications.
Pharmaceuticals: It is also a fast-growing segment. The legalization of hemp and rising awareness regarding the health benefits offered by hemp are contributing to the growth of the segment. Hemp oil and hemp-derived CBD oil are both widely used in the pharmaceutical industry to treat various conditions such as epilepsy in children, cancer, and depression.
Personal Care: Personal care is the second-largest revenue-generating segment of the global hemp derivatives market. Hemp Derivatives Market are used in various personal care products such as soap, cream, lotion, shampoo, and conditioner. It is effective in almost all major product categories such as hair, skin, body, and face.
Industrial: The industrial segment is the largest application segment of the global hemp derivatives market. The widespread use of hemp fiber in the construction and automotive industries is driving the growth of the segment. The expansion of these industries is responsible for the largest market share of the segment.
Others: The other segment includes applications such as animal feed, hemp-based pet products, and textiles. The textile industry uses fiber derived from hemp; hemp bast is used in the textile industry as it can be easily spun and woven. Bast fiber can further be classified as primary and secondary, based on length. Primary bast fiber is up to 50 mm long with approximately 50%–70% cellulose content, whereas secondary bast fiber is about 2 mm long.
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