Canada Industrial Hemp Market Size & Outlook, 2022-2030
Canada industrial hemp market, 2018-2030 (US$M)
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Canada industrial hemp market highlights
- The Canada industrial hemp market generated a revenue of USD 128.3 million in 2022 and is expected to reach USD 478.2 million by 2030.
- The Canada market is expected to grow at a CAGR of 17.9% from 2023 to 2030.
- In terms of segment, seeds was the largest revenue generating product in 2022.
- Fiber is the most lucrative product segment registering the fastest growth during the forecast period.
Industrial hemp market data book summary
| Market revenue in 2022 | USD 128.3 million |
| Market revenue in 2030 | USD 478.2 million |
| Growth rate | 17.9% (CAGR from 2022 to 2030) |
| Largest segment | Seeds |
| Fastest growing segment | Fiber |
| Historical data | 2018 - 2021 |
| Base year | 2022 |
| Forecast period | 2023 - 2030 |
| Quantitative units | Revenue in USD million |
| Market segmentation | Seeds, Fiber, Shives |
| Key market players worldwide | Marijuana Company of America Inc, Medical Marijuana Inc, Tetra Tech Inc, American Medical Technologies Inc, Hemp Inc, Ecofibre Ltd Ordinary Shares |
Other key industry trends
- In terms of revenue, Canada accounted for 2.7% of the global industrial hemp market in 2022.
- Country-wise, U.S. is expected to lead the global market in terms of revenue in 2030.
- In North America, U.S. industrial hemp market is projected to lead the regional market in terms of revenue in 2030.
- U.S. is the fastest growing regional market in North America and is projected to reach USD 6,226.8 million by 2030.
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Industrial Hemp Market Scope
Industrial Hemp Market Companies
| Name | Profile | # Employees | HQ | Website |
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Canada industrial hemp market outlook
The databook is designed to serve as a comprehensive guide to navigating this sector. The databook focuses on market statistics denoted in the form of revenue and y-o-y growth and CAGR across the globe and regions. A detailed competitive and opportunity analyses related to industrial hemp market will help companies and investors design strategic landscapes.
Seeds was the largest segment with a revenue share of 59.47% in 2022. Horizon Databook has segmented the Canada industrial hemp market based on seeds, fiber, shives covering the revenue growth of each sub-segment from 2018 to 2030.
Canada’s hemp market is regulated by Health Canada and production, processing, possession, sale, transportation, delivery and offering for sale of industrial hemp is controlled by Health Canada in Ottawa. Health Canada specifies approved varieties of commercial industrial hemp crops under Industrial Hemp Regulatory Act.
Growing demand for hemp-based products from the country and U.S. along with emerging opportunities related to use of fiber from different industrial applications is expected to increase hemp production in the country.
Increase in country’s national acreage of industrial hemp by over 25% in last few years with around 20 industrial hemp varieties is expected to propel market growth over the forecast period. High protein and fatty acid content of hemp seed having high demand from food, supplements, and personal care sector.
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Our clientele includes a mix of industrial hemp market companies, investment firms, advisory firms & academic institutions.
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Approximately 65% of our revenue is generated working with competitive intelligence & market intelligence teams of market participants (manufacturers, service providers, etc.).
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Horizon Databook provides a detailed overview of country-level data and insights on the Canada industrial hemp market , including forecasts for subscribers. This country databook contains high-level insights into Canada industrial hemp market from 2018 to 2030, including revenue numbers, major trends, and company profiles.
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Canada industrial hemp market size, by product, 2018-2030 (US$M)
Canada Industrial Hemp Market Outlook Share, 2022 & 2030 (US$M)
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