U.S. Industrial Hemp Market Size & Outlook, 2022-2030
U.S. industrial hemp market, 2018-2030 (US$M)
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U.S. industrial hemp market highlights
- The U.S. industrial hemp market generated a revenue of USD 1,345.8 million in 2022 and is expected to reach USD 6,226.8 million by 2030.
- The U.S. market is expected to grow at a CAGR of 21.1% 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 1,345.8 million |
| Market revenue in 2030 | USD 6,226.8 million |
| Growth rate | 21.1% (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, U.S. accounted for 28.4% 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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U.S. 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 60.86% in 2022. Horizon Databook has segmented the U.S. industrial hemp market based on seeds, fiber, shives covering the revenue growth of each sub-segment from 2018 to 2030.
The U.S. industrial hemp market is expected to grow with growing demand from application industries over the forecast period. According to 2014 Farm Bill, 32 states in the country are allowed hemp production with Kentucky leading the production.
Vote Hemp estimated that in 2015, 9,650 acres of hemp were planted in 15 states and estimated sales value of hemp products sold in the country accounting for around USD 688 million which indicates 20% growth over 2015 retail value of USD 573 million.
Finished hemp products and raw material are mostly imported into the United States and sold for use in further processing and manufacturing for a wide range of products. China is the largest exporter of raw and processed hemp products in the U.S. with other imports coming from Hungary, Romania and India.
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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 U.S. industrial hemp market , including forecasts for subscribers. This country databook contains high-level insights into U.S. industrial hemp market from 2018 to 2030, including revenue numbers, major trends, and company profiles.
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U.S. industrial hemp market size, by product, 2018-2030 (US$M)
U.S. Industrial Hemp Market Outlook Share, 2022 & 2030 (US$M)
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