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 market 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.
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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)
Segmentation
By Type
- Hemp Oil: Hemp oil is the oil derived from
hemp seeds as opposed to the oil derived from the leaves, stalks, and
flowers of the plant. On average, 700 pounds of hemp grains can
be obtained from one acre of hemp, which, when further processed, can
provide approximately 22 gallons of hemp oil.
- Hemp-Derived CBD Oil: This is expected to be
the fastest-growing segment during the forecast period owing to
the increasing demand for CBD oil in application industries such as
personal care, pharmaceuticals, and food & beverages. Hemp-derived CBD
oil is an anticonvulsant, antiemetic, antioxidant, antidepressant, and
anti-inflammatory, which is further driving the growth of the segment.
- Hemp Fiber: It is
the largest revenue-generating segment of the Hemp
Derivatives Market Size. The segment is expected to maintain its
dominance during the forecast period owing to the growth of application
industries. The outer long fibers (bast) and inner short fibers (hurds) of
hemp are useful in various industries such as textile, construction,
animal husbandry, automotive, agriculture, and furniture. Additionally,
the increasing demand for biodegradable plastic due to the ban on
non-biodegradable plastic use is boosting the sales of hemp fiber for the
production of hemp-based bioplastic. An average of 5,300 pounds of
straw can be produced from one acre of hemp, which can be further
processed into 1,300 pounds of hemp fiber. Thus, the high yield of
hemp fiber from one acre of hemp is financially beneficial.
- Others: The other segment includes Hemp
Derivatives such as seeds, meal, and shell casings. Hemp meal is a
prominent derivative due to its high protein content. Hemp cultivated on
one acre of land can yield 700 pounds of hemp grains, which can
be pressed to extract oil and provide nearly 530 pounds of hemp meal.
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.
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