Industrial Hemp: The Ultimate Energy Crop

Industrial hemp is also known as hemp. Industrial hemp is the strain of the cannabis sativa plant species usually which is found in the northern hemisphere. Industrial hemp is cultivated for industrial (non-drug) use and consumer products. Industrial hemp is low in active tetrahydrocannabinol (THC) and high in fiber. Industrial hemp can be used to replace many potentially harmful products such as tree paper, plastics, petroleum-based products which do not decompose quickly. Industrial hemp is produced in various countries across the world. Major producers include Canada, France, and China.

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Increasing legalization in the farming of industrial hemp across the globe is driving the demand for industrial hemp market. Furthermore, various functional properties of hemp seed and hemp seed oil are also projected to influence the industrial hemp market significantly. Moreover, increasing use of industrial hemp in different food applications is anticipated to have a robust impact in the industrial hemp market. The growing number of chronic diseases, in turn, are expected to generate untapped opportunity for the market participants.

The global industrial hemp market is segmented on the basis of type, application and source. Based on type, the market is segmented into hemp seed, hemp seed oil, CBD hemp oil, and hemp fiber. On the basis of the application the market is segmented into food, textiles, beverages, personal care products, pharmaceuticals, and others. On the basis of the source the market is segmented into conventional and organic.

Top Key Players:

• COLORADO HEMP WORKS
• Dun Agro
• Ecofibre Ltd
• GenCanna Global USA, Inc.
• Hemp Oil Canada
• Hemp Pol and
• Hemp, Inc.
• Hempco Food and Fiber Inc.
• HempFlax BV
• The Konoplex Group

Source: The Insight Partners