North America Industrial Hemp Market Size & Outlook
North America industrial hemp market, 2018-2030 (US$M)
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North America industrial hemp market highlights
- The North America industrial hemp market generated a revenue of USD 1,539.8 million in 2022.
- The market is expected to grow at a CAGR of 20.8% 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.
- Country-wise, U.S. is expected to register the highest CAGR from 2023 to 2030.
North America data book summary
| Market revenue in 2022 | USD 1,539.8 million |
| Market revenue in 2030 | USD 6,967.4 million |
| Growth rate | 20.8% (CAGR from 2022 to 2030) |
| Largest segment | Seeds |
| Fastest growing segment | Fiber |
| 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, North America region accounted for 32.5% 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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North America 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 60.67% in 2022. Horizon Databook has segmented the North America industrial hemp market based on seeds, fiber, shives covering the revenue growth of each sub-segment from 2018 to 2030.
Growing demand for ecofriendly and natural hemp from wide range of application industries with increasing consumer awareness regarding harmful effects of synthetic products is expected to drive the market growth over the forecast period.
According to Hemp Industries Association, hemp retail sales in the U.S. have estimated an average growth of 15% during 2010-2015 with majority of growth from hemp based personal care products, supplements, food & beverages and industrial products.
Canada has commercially legalized industrial hemp production in 1998 and is the largest exporter of hemp seed and oil-cake to the U.S. Canadian hemp industry.
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Target buyers of North America industrial hemp market databook
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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 North America industrial hemp market , including forecasts for subscribers. This continent databook contains high-level insights into North America industrial hemp market from 2018 to 2030, including revenue numbers, major trends, and company profiles.
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North America industrial hemp market size, by country, 2018-2030 (US$M)
North America Industrial Hemp Market Outlook Share, 2022 & 2030 (US$M)
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