Middle East & Africa Industrial Hemp Market Size & Outlook
Middle East & Africa industrial hemp market, 2018-2030 (US$M)
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MEA industrial hemp market highlights
- The MEA industrial hemp market generated a revenue of USD 172.3 million in 2022.
- The market is expected to grow at a CAGR of 9.2% from 2023 to 2030.
- In terms of segment, seeds was the largest revenue generating product in 2022.
- Seeds is the most lucrative product segment registering the fastest growth during the forecast period.
MEA data book summary
| Market revenue in 2022 | USD 172.3 million |
| Market revenue in 2030 | USD 348.2 million |
| Growth rate | 9.2% (CAGR from 2022 to 2030) |
| Largest segment | Seeds |
| Fastest growing segment | Seeds |
| Historical data covered | 2018 - 2021 |
| Base year for estimation | 2022 |
| Forecast period covered | 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, MEA region accounted for 3.6% of the global industrial hemp market in 2022.
- Globally, North America is projected to lead the regional market in terms of revenue in 2030.
- North America is the fastest growing regional market and is projected to reach USD 6,967.4 million by 2030.
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Industrial Hemp Market Scope
Industrial Hemp Market Companies
| Name | Profile | # Employees | HQ | Website |
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Middle East & Africa 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 40.45% in 2022. Horizon Databook has segmented the Middle East & Africa industrial hemp market based on seeds, fiber, shives covering the revenue growth of each sub-segment from 2018 to 2030.
Middle East & Africa consume significant amount of industrial hemp in the form of fiber and seed. The tropical climatic conditions in the region is expected to drive the demand for hemp fiber as an insulation material on account of its thermodynamic and biodegradable characteristics.
However, the market is majorly affected by stringent government regulations in several countries including Tunisia, Syria, Turkey, UAE, among many other to cultivate and posses industrial hemp.
On account of several benefits associated with industrial hemp, in 2015 some Middle Eastern countries such as Jordon, Morocco have legalized hemp cultivation is expected to satisfy rising demand from pharmaceutical industry over the forecast period.
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Our clientele includes a mix of industrial hemp market companies, investment firms, advisory firms & academic institutions.
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30% of our revenue is generated working with investment firms and helping them identify viable opportunity areas.
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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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The rest of the revenue is generated working with academic and research not-for-profit institutes. We do our bit of pro-bono by working with these institutions at subsidized rates.
Horizon Databook provides a detailed overview of continent-level data and insights on the Middle East & Africa industrial hemp market , including forecasts for subscribers. This continent databook contains high-level insights into Middle East & Africa industrial hemp market from 2018 to 2030, including revenue numbers, major trends, and company profiles.
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Middle East & Africa industrial hemp market
Middle East & Africa Industrial Hemp Market Outlook Share, 2022 & 2030 (US$M)
Middle East & Africa industrial hemp market
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