UK Industrial Hemp Market Size & Outlook, 2022-2030
UK industrial hemp market, 2018-2030 (US$M)
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UK industrial hemp market highlights
- The UK industrial hemp market generated a revenue of USD 76.7 million in 2022 and is expected to reach USD 188.5 million by 2030.
- The UK market is expected to grow at a CAGR of 11.9% from 2023 to 2030.
- In terms of segment, shives was the largest revenue generating product in 2022.
- Seeds 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 76.7 million |
| Market revenue in 2030 | USD 188.5 million |
| Growth rate | 11.9% (CAGR from 2022 to 2030) |
| Largest segment | Shives |
| Fastest growing segment | Seeds |
| 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, UK accounted for 1.6% 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 Europe, France industrial hemp market is projected to lead the regional market in terms of revenue in 2030.
- Germany is the fastest growing regional market in Europe and is projected to reach USD 301.8 million by 2030.
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Industrial Hemp Market Scope
Industrial Hemp Market Companies
| Name | Profile | # Employees | HQ | Website |
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UK 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.
Shives was the largest segment with a revenue share of 55.54% in 2022. Horizon Databook has segmented the UK industrial hemp market based on seeds, fiber, shives covering the revenue growth of each sub-segment from 2018 to 2030.
Industrial hemp has a long agricultural history in the UK, however the country legalized commercial cultivation of hemp in 1993. The environmental, social and economic benefits associated with hemp are expected to drive the market for hemp with rising demand for hemp seeds from foods, supplements, and personal care industry over the forecast period.
Hemp fiber crops are largely consumed by the automotive and construction industries in the UK. In addition, long bast fibers are consumed in textile and paper industry and short fibers from core of hemp have major market for insulation materials, animal bedding and bio-composites for automotive industry in the country.
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Target buyers of UK 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 country-level data and insights on the UK industrial hemp market , including forecasts for subscribers. This country databook contains high-level insights into UK industrial hemp market from 2018 to 2030, including revenue numbers, major trends, and company profiles.
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UK industrial hemp market size, by product, 2018-2030 (US$M)
UK Industrial Hemp Market Outlook Share, 2022 & 2030 (US$M)
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