Report: Global Industrial Hemp Market Size Expected at $10.6 Billion by 2025

Global Industrial Hemp Expected to Be at $10.6 Billion by 2025
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June 01, 2018

A recent report projects the international industrial hemp market will increase significantly over the next seven years, reaching $10.6 billion US by 2025.

According to the report by Grand View Research, Inc. the worldwide industrial hemp market is expected to expand at a CAGR (compound annual growth rate) of 14 percent during that period.

Growing population numbers, rising disposable income and increasing calls for hemp products across a wide variety of sectors are expected to boost that demand.

The publication adds that in the North American market, industrial hemp is projected to see a volume-based CAGR of 17.6 percent. That increase is due in part to growing demand from the automotive industry for hemp-derived panels, to be manufactured as an alternative to fiberglass products

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Hemp Industries Association Midwest Hemp Council National Hemp Association