How to Lead Industrial Hemp Market | Top Insights and Future Trends




The Global industrial hemp market is expected to witness a CAGR of 15.5% during the forecast period. Certain factors that are driving the market growth include high demand from the textile industry, high demand from China and the US, and increasing demand for cannabidiol. As per the latest market research report published by Technavio, the industrial hemp market size will grow at a CAGR of close to 16% between 2019 and 2023. The report analyzes the market by geography (APAC, Europe, the The Middle East and Africa, North America, and South America), and by application (textiles, personal care, hemp CBP, food and supplements, and others).

Download the free sample report @ http://bit.ly/2kr2YSp

The major revenue contributors to the global industrial hemp market are China and the US due to high consumption of industrial hemp in various industries, including textiles, personal care, food and beverage, and construction in these countries. China accounted for about 33% of the market in 2018 due to the growth in the textiles and construction industries in the country.

The textile industry in the market in China provides huge growth opportunities as the consumer textiles segment were the largest end-user segment in the market. Similarly, the market in North America is dominated by the US due to high consumption of industrial hemp in hemp-derived CBD, personal care, and other industrial applications.

The rise in the geriatric population and growing concerns of skin diseases due to UV light exposure is driving the consumption of hemp-derived CBD oil in the personal care industry in the US. Hence, the major demand from China and the US are driving the growth of the market.

The supply and consumption of industrial hemp for applications such as textiles, personal care, hemp CBD, and food and supplements will continue to increase in the next decade. The rising demand for industrial hemp-based products has compelled producers to expand their production capacities and build new manufacturing centers. Hence, capacity expansion and product developments are expected to drive the growth of the industrial hemp market.

Get the Complete Report @ http://bit.ly/2mqccPA

Location: United States

Comments

Post a Comment

Popular posts from this blog

Flexible Packaging Market – Top Insights On Forecast and Analysis 2020-2024

Image
The  flexible packaging market  size has the potential to grow by USD 59.22 billion during 2020-2024, and the market’s growth momentum will accelerate during the forecast period. Flexible Packaging Market Market Competitive Analysis The flexible packaging market is fragmented. Market vendors are involved in price wars to expand their customer base, which further intensifies the competition. Amcor Plc, Berry Global Group Inc., and CCL Industries Inc. are some of the major market participants. Although the growing popularity of flexible bioplastic packaging will offer immense growth opportunities, increasing focus on reducing the use of plastic packaging will challenge the growth of the market participants. To make the most of the opportunities, market vendors should focus more on the growth prospects in the fast-growing segments, while maintaining their positions in the slow-growing segments. Download the free sample report @...
Read more

Liquid Silicone Rubber Market – Latest Insights on Forecast and Analysis 2020-2024

Image
The liquid silicone rubber market size has the potential to grow by USD 715.78 million during 2020-2024, and the market’s growth momentum will accelerate during the forecast period. Market Competitive Analysis The market is concentrated, and the vendors in this marketspace mainly compete based on factors such as the cost of production, innovation in products, price, operational cost, R&D cost, and product quality. Focusing on increasing their product portfolio, liquid silicone rubber suppliers are increasingly investing in R&D activities. CHT Group, Elkem ASA, and KC Co. Ltd. are some of the major market participants. Although the rising demand for lightweight materials in the automotive industry will offer immense growth opportunities, the fluctuation in raw material prices will challenge the growth of the market participants. To make the most of the opportunities, market vendors should focus more on the growth pro...
Read more

Scented Candles Market – Top Insights on The Latest Trends

Image
The  scented candles market  size has the potential to grow by USD 1816.06 mn during 2020-2024 Market Competitive Analysis The market is fragmented. Bolsius International BV, Diptyque SAS, Godrej Consumer Products Ltd., NEST Fragrances, Newell Brands Inc., Reckitt Benckiser Group Plc, S.C. Johnson & Son Inc., ScentAir Technologies LLC, The Bridgewater Candle Co., and The Procter & Gamble Co. are some of the major market participants. Factors such as increasing investment in household interiors, growing home décor market, and diversified product portfolio of key vendors will offer immense growth opportunities. However, stiff competition from the unorganized sector, emission of toxic fumes, and criticality of inventory management and product sourcing may impede market growth. To make the most of the opportunities, vendors should focus on growth prospects in the fast-growing segments, while maintaining their positions in the slow-growing ...
Read more