Search

Industrial Hemp Market

Industrial Hemp Market Size by Product Type (Hemp Seed, Hemp Hurd, Hemp Seed Oil, Hemp Bast, CBD Hemp Oil and Others), Source (Conventional and Organic), Application (Foods and Beverages, Pharmaceuticals, Animal Nutrition, Building and Construction, Textiles, Personal Care Products, Paper Industry and Others), Regions, Global Industry Analysis, Share, Growth, Trends, and Forecast 2023 to 2032

Base Year: 2022 Historical Data: 2019-21
  • Report ID: TBI-13591
  • Published Date: Jul, 2023
  • Pages: 237
  • Category: Agriculture
  • Format: PDF
Buy @ $4700.00 Request Sample PDF

The global industrial hemp market was valued at USD 5 billion in 2022 and grew at a CAGR of 19% from 2023 to 2032. The market is expected to reach USD 28.47 billion by 2032. The growing number of countries legalising industrial hemp cultivation, processing and retailing will drive the growth of the global industrial hemp market.

Market Introduction:

Industrial hemp or hemp is derived from the cannabis sativa plant. It has many applications in paper, textiles, personal care products, pharmaceuticals, food and beverages industries, among many others. The input costs of cultivating hemp are low, considering the crop doesn't require much supplementary nutrition and can grow in all weather conditions. It can tolerate both warm and cold temperatures. One of the most significant breakthroughs in the modern world is using hemp stalks to produce biofuel that can be used in the automobile industry. It is a sustainable and lucrative crop, given that each part of the hemp plant, including the seeds, stalks, roots, and leaves, can be used for various purposes. Its inflammatory properties make it highly effective as a primary ingredient base for personal care products. Industrial hemp is a sustainable, cheap, clean alternative for the modern economy dependent on fossil fuels. It produces much less carbon emissions, contributing to environmental conservation and economic benefits.

Industrial Hemp Market Size

Get an overview of this study by requesting a free sample

Recent Development
  • July 2023 - SUNY Adirondack is holding an open house for a fresh batch of programmes. Visitors will learn about the college's new emphasis on hemp's industrial and agricultural uses. Visitors are welcome to see the SUNY Adirondack hemp farm and participate in a roundtable discussion with industry professionals. This is a component of two "micro-credential" programmes: Cannabis & Hemp Cultivation and Cannabis Business and Entrepreneurship. Participating students can earn credits towards degrees in business, liberal arts, mathematics, science, and agriculture. Some courses will be available online or in a hybrid format.

Market Dynamics:

Drivers

The expanding industrial and commercial application of industrial hemp – industrial hemp is used in multiple industries like food and beverages, personal care products, pharmaceuticals, energy, animal nutrition, dietary supplements, automotive, paper, textiles, and construction. For instance, industrial hemp-based skin and hair care products are highly effective in treating acne, pigmentation, ageing, redness, inflammation and hair fall. Stalks of industrial hemp are used to produce biofuels, a sustainable, renewable and clean energy source highly in demand in the contemporary world dealing with the climate crisis. Food and beverages, animal food or nutraceuticals infused with industrial hemp are proven to have positive health benefits. They improve cardiovascular and pulmonary health. Industrial hemp construction materials produce much less carbon emissions, reducing detrimental environmental effects. Its use in textiles also contributes to a sustainable and recyclable economy. These applications are expected to increase, thereby contributing to the growth of the global industrial hemp market.

  • July 2023 - A brand-new hotel is being billed as the tallest industrial hemp structure in the world, and it is in Cape Town, South Africa. A cement and concrete structure supports "hempcrete" blocks formed from the woody portions of hemp plants that make up the aptly titled Hemp Hotel. The building gains insulating and fire-resistant qualities from the hempcrete. One of the most environmentally friendly materials in the world, hemp is rising in popularity. As a result, replacing any concrete in a structure, especially if replaced with carbon-locking hempcrete, can assist in lessening the building's impact on the environment. Hempcrete is regarded as carbon-negative since it removes more pollutants from the air than it produces.
Restraints:

The high costs of hemp-based products – despite the benefits offered by industrial hemp, its production and processing are still illegal in many countries. The restricted production leads to a limited supply of industrial hemp, which drives up the input costs. The high input costs reflect in the high retail prices of hemp-based products, like clothes, personal care products, foods, beverages or energy. The high retail costs do not incentivise the consumers to buy these products, given that they have cheaper alternatives in the market. Therefore, the high costs of hemp-based products will hamper the market's growth.

Opportunities:

Several scientific studies have established the increasing innovation of industrial hemp processing technologies – the multiple benefits of industrial hemp. Governments worldwide have begun to recognise industrial hemp's economic, social and environmental benefits, encouraging them to legalise its production, sale, purchase, processing and trade. Legalising industrial hemp has contributed to the rise in industrial hemp manufacturers, processors, retailers and consumers. The legalisation has also contributed to the increase in research, development and innovation in the industrial hemp market. The new processing techniques and systems have reduced input costs and improved quality, thereby offering more significant economic benefits to the manufacturers and lesser retail costs of products for the consumers. Such innovation will continue to offer lucrative opportunities for the global industrial hemp market's future growth and development.

Regional segmentation analysis:

The regions analysed for the market include North America, Europe, South America, Asia Pacific, the Middle East, and Africa. Asia Pacific emerged as the most significant global industrial hemp market, with a 39% market revenue share in 2022.

Legalising industrial hemp in India, China, and Thailand has increased the market. The increasing consumption of industrial hemp in textile, paper, personal care products and animal nutrition drives the market's growth. Furthermore, the increasing number of industrial hemp and processing startups with favourable government initiatives and programs backing them has created a conducive growth environment for regional market growth.

Asia Pacific Region Industrial Hemp Market Share in 2022 - 39%

 

www.thebrainyinsights.com

Check the geographical analysis of this market by requesting a free sample

  • July 2023 - HempKart was established in 2023 by Krishn Anand Tripathi and Nishant Choudhry after they realised the enormous potential of the hemp business in India. HempKart is currently one of India's most well-known online hemp markets. HempKart is dedicated to providing the best hemp products at the best pricing with great customer service to be India's premier hemp brand. Leading online retailer HempKart sells a variety of CBD oils and hemp products at reasonable costs. All their goods are created from premium CBD oil obtained from natural hemp plants. A variety of hemp and CBD products, including oils, capsules, candies, topicals, proteins, and other goods, are available in the company's inventory.
Product Type Segment Analysis

The product type segment is divided into hemp seed, hemp seed, hemp seed oil, hemp bast, CBD hemp oil and others. The hemp seed oil segment dominated the market, with a share of around 37% in 2022. Hemp seed oil is known to offer several skin benefits, making it highly popular in the personal care products industry. With countries legalising the production, sale and purchase of industrial hemp for commercial purposes, entrepreneurs are introducing hemp-based skin care products that are highly effective in treating skin problems like acne, hyperpigmentation, dryness, wrinkles, oiliness etc. hemp seed oil is effective in treating inflammation and is used to treat several other skin problems like redness, rashes, hives or painful joints as well. Hemp seed oil also promotes hair growth and is believed to be a stress reliever. Hemp seed oil is believed to reduce the risks of Alzheimer's and cardiovascular diseases effectively. The growing awareness about the multiple benefits of hemp seed oil and its increasing retailing globally will drive the segment's growth.

  • March 2023 - NHempCo, a skincare company founded in 2016 by Namrata and Harshavardhan Reddy, is now branching out into producing hemp-based fibre and bioplastic. They aim to develop a hemp ecosystem. A total of 25 SKUs of skincare products, including face creams, soap bars, body butter, body and face oils, shampoo bars, hair creams, hair oils, and lip balms, were introduced by Namrata HempCo in 2016 under the Satliva brand. Nutraceutical hemp seed oil that has received FSSAI approval was just released. According to the creator, it has had positive outcomes in epilepsy patients. The expansion of their product portfolio will bode well for the company.
Source Segment Analysis

The source segment is divided into conventional and organic. The conventional segment dominated the market, with a market share of around 57% in 2022. Given the highly sturdy nature of the crop, hemp can withstand extreme weather and offer substantial yield without special or organic treatments. The difference in the yield and quality of hemp is minor when sourced from either the conventional or organic process. However, the prices increase with the organic process. Therefore, most cultivators prefer the conventional method to grow industrial hemp, driving the segment's growth.

Application Segment Analysis

The application segment is divided into foods and beverages, pharmaceuticals, animal nutrition, building and construction, textiles, personal care products, paper industry and others. The personal care products segment dominated the market, with a market share of around 27% in 2022. Personal care products are used to enhance or improve the outer or external appearance of the user. They are generally categorised into skincare, haircare and body care. The growing emphasis on external appearance in the modern world has increased spending on personal care products. The consumers are aware of the products being marketed and are conclusions about their effect on their health and the environment. Hemp-based products are natural and highly effective in treating skin and hair problems. Its anti-inflammatory and soothing properties effectively treat acne, acne spots, hyperpigmentation, melasma, eczema, hair fall, redness, or rashes. The growing presence of significant players entering the personal care market based on hemp will drive the segment's growth.

  • July 2023 - The Pennsylvania Industrial Hemp Engine initiative, funded by a USD 1 million NSF Engines Development Award, was formally launched by U.S. Representative Matt Cartwright. The grant aids in developing an extensive hemp research and supply chain through a coalition collaboration led by Penn State researchers.
Some of the Key Market Players:
  • American Cannabis Company, Inc.
  • CBD Biotechnology Co.
  • Hemp Inc.
  • HempFlax Group B.V.
  • Hempro International GmbH & Co. KG
  • Industrial Hemp Manufacturing, LLC
  • Marijuana Company of America Inc.
  • MH Medical Hemp
  • Plains Industrial Hemp Processing Ltd.
  • The Konoplex Group

Report Description: 

Attribute Description
Market Size Revenue (USD Billion)
Market size value in 2022 USD 5 Billion
Market size value in 2032 USD 28.47 Billion
CAGR (2023 to 2032) 19%
Historical data 2019-2021
Base Year 2022
Forecast 2023-2032
Region The regions analysed for the market are Asia Pacific, Europe, South America, North America, and Middle East & Africa. Furthermore, the regions are further analysed at the country level.
Segments Product Type, Source and Application

Frequesntly Asked Questions

As per The Brainy Insights, the size of the global industrial hemp market was valued at USD 5 billion in 2022 to USD 28.47 billion by 2032.

Global industrial hemp market is growing at a CAGR of 19% during the forecast period 2023-2032.

The market's growth will be influenced by the expanding industrial and commercial application of industrial hemp.

The high costs of hemp-based products could hamper the market growth.

Get Your Report Customized

  • Further segmentation of the market on the basis of type, application, end use, product, technology, method, process and any other segment depending on the market
  • Segmentation on the basis of any specific country or region
  • Any segment can be classified on the basis of application
  • Application segment can be further divided on the basis of companies
  • The companies profiled are not limited, we can incorporate additional companies of your choice
  • We can split the company market share on the basis of product, application and region
  • Report can be prepared for any specific country/region/segment
  • Customers can be added on the basis of regions and countries
Request for Customization

1. Introduction
    1.1. Objectives of the Study
    1.2. Market Definition
    1.3. Research Scope
    1.4. Currency
    1.5. Key Target Audience

2. Research Methodology and Assumptions

3. Executive Summary

4. Premium Insights
    4.1. Porter’s Five Forces Analysis
    4.2. Value Chain Analysis
    4.3. Top Investment Pockets
          4.3.1. Market Attractiveness Analysis by Product Type
          4.3.2. Market Attractiveness Analysis by Source
          4.3.3. Market Attractiveness Analysis by Application
          4.3.4. Market Attractiveness Analysis by Region
    4.4. Industry Trends

5. Market Dynamics
    5.1. Market Evaluation
    5.2. Drivers
          5.2.1. The expanding industrial and commercial application of industrial hemp
    5.3. Restraints
          5.3.1. The high costs of hemp-based products
    5.4. Opportunities
          5.4.1. The increasing innovation of industrial hemp processing technologies
    5.5. Challenges
          5.5.1. The stringent government regulations

6. Global Industrial Hemp Market Analysis and Forecast, By Product Type
    6.1. Segment Overview
    6.2. Hemp Seed
    6.3. Hemp Hurd
    6.4. Hemp Seed Oil
    6.5. Hemp Bast
    6.6. CBD Hemp Oil
    6.7. Others

7. Global Industrial Hemp Market Analysis and Forecast, By Source
    7.1. Segment Overview
    7.2. Conventional
    7.3. Organic

8. Global Industrial Hemp Market Analysis and Forecast, By Application
    8.1. Segment Overview
    8.2. Foods and Beverages
    8.3. Pharmaceuticals
    8.4. Animal Nutrition
    8.5. Building and Construction
    8.6. Textiles
    8.7. Personal Care Products
    8.8. Paper Industry
    8.9. Others

9. Global Industrial Hemp Market Analysis and Forecast, By Regional Analysis
    9.1. Segment Overview
    9.2. North America
          9.2.1. U.S.
          9.2.2. Canada
          9.2.3. Mexico
    9.3. Europe
          9.3.1. Germany
          9.3.2. France
          9.3.3. U.K.
          9.3.4. Italy
          9.3.5. Spain
    9.4. Asia-Pacific
          9.4.1. Japan
          9.4.2. China
          9.4.3. India
    9.5. South America
          9.5.1. Brazil
    9.6. Middle East and Africa
          9.6.1. UAE
          9.6.2. South Africa

10. Global Industrial Hemp Market-Competitive Landscape
    10.1. Overview
    10.2. Market Share of Key Players in the Industrial Hemp Market
          10.2.1. Global Company Market Share
          10.2.2. North America Company Market Share
          10.2.3. Europe Company Market Share
          10.2.4. APAC Company Market Share
    10.3. Competitive Situations and Trends
          10.3.1. Product Launches and Developments
          10.3.2. Partnerships, Collaborations, and Agreements
          10.3.3. Mergers & Acquisitions
          10.3.4. Expansions

11. Company Profiles
    11.1. American Cannabis Company, Inc.
          11.1.1. Business Overview
          11.1.2. Company Snapshot
          11.1.3. Company Market Share Analysis
          11.1.4. Company Product Portfolio
          11.1.5. Recent Developments
          11.1.6. SWOT Analysis
    11.2. CBD Biotechnology Co.
          11.2.1. Business Overview
          11.2.2. Company Snapshot
          11.2.3. Company Market Share Analysis
          11.2.4. Company Product Portfolio
          11.2.5. Recent Developments
          11.2.6. SWOT Analysis
    11.3. Hemp Inc.
          11.3.1. Business Overview
          11.3.2. Company Snapshot
          11.3.3. Company Market Share Analysis
          11.3.4. Company Product Portfolio
          11.3.5. Recent Developments
          11.3.6. SWOT Analysis
    11.4. HempFlax Group B.V.
          11.4.1. Business Overview
          11.4.2. Company Snapshot
          11.4.3. Company Market Share Analysis
          11.4.4. Company Product Portfolio
          11.4.5. Recent Developments
          11.4.6. SWOT Analysis
    11.5. Hempro International GmbH & Co. KG
          11.5.1. Business Overview
          11.5.2. Company Snapshot
          11.5.3. Company Market Share Analysis
          11.5.4. Company Product Portfolio
          11.5.5. Recent Developments
          11.5.6. SWOT Analysis
    11.6. Industrial Hemp Manufacturing, LLC
          11.6.1. Business Overview
          11.6.2. Company Snapshot
          11.6.3. Company Market Share Analysis
          11.6.4. Company Product Portfolio
          11.6.5. Recent Developments
          11.6.6. SWOT Analysis
    11.7. Marijuana Company of America Inc.
          11.7.1. Business Overview
          11.7.2. Company Snapshot
          11.7.3. Company Market Share Analysis
          11.7.4. Company Product Portfolio
          11.7.5. Recent Developments
          11.7.6. SWOT Analysis
    11.8. MH Medical Hemp
          11.8.1. Business Overview
          11.8.2. Company Snapshot
          11.8.3. Company Market Share Analysis
          11.8.4. Company Product Portfolio
          11.8.5. Recent Developments
          11.8.6. SWOT Analysis
    11.9. Plains Industrial Hemp Processing Ltd.
          11.9.1. Business Overview
          11.9.2. Company Snapshot
          11.9.3. Company Market Share Analysis
          11.9.4. Company Product Portfolio
          11.9.5. Recent Developments
          11.9.6. SWOT Analysis
    11.10. The Konoplex Group
          11.10.1. Business Overview
          11.10.2. Company Snapshot
          11.10.3. Company Market Share Analysis
          11.10.4. Company Product Portfolio
          11.10.5. Recent Developments
          11.10.6. SWOT Analysis

List of Table

1. Global Industrial Hemp Market, By Product Type, 2019-2032 (USD Billion) 

2. Global Hemp Seed Industrial Hemp Market, By Region, 2019-2032 (USD Billion) 

3. Global Hemp Hurd Industrial Hemp Market, By Region, 2019-2032 (USD Billion) 

4. Global Hemp Seed Oil Industrial Hemp Market, By Region, 2019-2032 (USD Billion) 

5. Global Hemp Bast Industrial Hemp Market, By Region, 2019-2032 (USD Billion) 

6. Global CBD Hemp Oil Industrial Hemp Market, By Region, 2019-2032 (USD Billion) 

7. Global Others Industrial Hemp Market, By Region, 2019-2032 (USD Billion) 

8. Global Industrial Hemp Market, By Source, 2019-2032 (USD Billion) 

9. Global Conventional Industrial Hemp Market, By Region, 2019-2032 (USD Billion) 

10. Global Organic Industrial Hemp Market, By Region, 2019-2032 (USD Billion) 

11. Global Industrial Hemp Market, By Application, 2019-2032 (USD Billion) 

12. Global Foods and Beverages Industrial Hemp Market, By Region, 2019-2032 (USD Billion) 

13. Global Pharmaceuticals Industrial Hemp Market, By Region, 2019-2032 (USD Billion) 

14. Global Animal Nutrition Industrial Hemp Market, By Region, 2019-2032 (USD Billion) 

15. Global Building and Construction Industrial Hemp Market, By Region, 2019-2032 (USD Billion) 

16. Global Textiles Industrial Hemp Market, By Region, 2019-2032 (USD Billion) 

17. Global Personal Care Products Industrial Hemp Market, By Region, 2019-2032 (USD Billion) 

18. Global Paper Industry Industrial Hemp Market, By Region, 2019-2032 (USD Billion) 

19. Global Others Industrial Hemp Market, By Region, 2019-2032 (USD Billion) 

20. Global Industrial Hemp Market, By Region, 2019-2032 (USD Billion) 

21. North America Industrial Hemp Market, By Product Type, 2019-2032 (USD Billion) 

22. North America Industrial Hemp Market, By Source, 2019-2032 (USD Billion) 

23. North America Industrial Hemp Market, By Application, 2019-2032 (USD Billion) 

24. U.S. Industrial Hemp Market, By Product Type, 2019-2032 (USD Billion) 

25. U.S. Industrial Hemp Market, By Source, 2019-2032 (USD Billion) 

26. U.S. Industrial Hemp Market, By Application, 2019-2032 (USD Billion) 

27. Canada Industrial Hemp Market, By Product Type, 2019-2032 (USD Billion) 

28. Canada Industrial Hemp Market, By Source, 2019-2032 (USD Billion) 

29. Canada Industrial Hemp Market, By Application, 2019-2032 (USD Billion) 

30. Mexico Industrial Hemp Market, By Product Type, 2019-2032 (USD Billion) 

31. Mexico Industrial Hemp Market, By Source, 2019-2032 (USD Billion) 

32. Mexico Industrial Hemp Market, By Application, 2019-2032 (USD Billion) 

33. Europe Industrial Hemp Market, By Product Type, 2019-2032 (USD Billion) 

34. Europe Industrial Hemp Market, By Source, 2019-2032 (USD Billion) 

35. Europe Industrial Hemp Market, By Application, 2019-2032 (USD Billion) 

36. Germany Industrial Hemp Market, By Product Type, 2019-2032 (USD Billion) 

37. Germany Industrial Hemp Market, By Source, 2019-2032 (USD Billion) 

38. Germany Industrial Hemp Market, By Application, 2019-2032 (USD Billion) 

39. France Industrial Hemp Market, By Product Type, 2019-2032 (USD Billion) 

40. France Industrial Hemp Market, By Source, 2019-2032 (USD Billion) 

41. France Industrial Hemp Market, By Application, 2019-2032 (USD Billion) 

42. U.K. Industrial Hemp Market, By Product Type, 2019-2032 (USD Billion) 

43. U.K. Industrial Hemp Market, By Source, 2019-2032 (USD Billion) 

44. U.K. Industrial Hemp Market, By Application, 2019-2032 (USD Billion) 

45. Italy Industrial Hemp Market, By Product Type, 2019-2032 (USD Billion) 

46. Italy Industrial Hemp Market, By Source, 2019-2032 (USD Billion) 

47. Italy Industrial Hemp Market, By Application, 2019-2032 (USD Billion) 

48. Spain Industrial Hemp Market, By Product Type, 2019-2032 (USD Billion) 

49. Spain Industrial Hemp Market, By Source, 2019-2032 (USD Billion) 

50. Spain Industrial Hemp Market, By Application, 2019-2032 (USD Billion) 

51. Asia Pacific Industrial Hemp Market, By Product Type, 2019-2032 (USD Billion) 

52. Asia Pacific Industrial Hemp Market, By Source, 2019-2032 (USD Billion) 

53. Asia Pacific Industrial Hemp Market, By Application, 2019-2032 (USD Billion) 

54. Japan Industrial Hemp Market, By Product Type, 2019-2032 (USD Billion) 

55. Japan Industrial Hemp Market, By Source, 2019-2032 (USD Billion) 

56. Japan Industrial Hemp Market, By Application, 2019-2032 (USD Billion) 

57. China Industrial Hemp Market, By Product Type, 2019-2032 (USD Billion) 

58. China Industrial Hemp Market, By Source, 2019-2032 (USD Billion) 

59. China Industrial Hemp Market, By Application, 2019-2032 (USD Billion) 

60. India Industrial Hemp Market, By Product Type, 2019-2032 (USD Billion) 

61. India Industrial Hemp Market, By Source, 2019-2032 (USD Billion) 

62. India Industrial Hemp Market, By Application, 2019-2032 (USD Billion) 

63. South America Industrial Hemp Market, By Product Type, 2019-2032 (USD Billion) 

64. South America Industrial Hemp Market, By Source, 2019-2032 (USD Billion)

65. South America Industrial Hemp Market, By Application, 2019-2032 (USD Billion)

66. Brazil Industrial Hemp Market, By Product Type, 2019-2032 (USD Billion) 

67. Brazil Industrial Hemp Market, By Source, 2019-2032 (USD Billion) 

68. Brazil Industrial Hemp Market, By Application, 2019-2032 (USD Billion)

69. Middle East and Africa Industrial Hemp Market, By Product Type, 2019-2032 (USD Billion) 

70. Middle East and Africa Industrial Hemp Market, By Source, 2019-2032 (USD Billion) 

71. Middle East and Africa Industrial Hemp Market, By Application, 2019-2032 (USD Billion)

72. UAE Industrial Hemp Market, By Product Type, 2019-2032 (USD Billion) 

73. UAE Industrial Hemp Market, By Source, 2019-2032 (USD Billion) 

74. UAE Industrial Hemp Market, By Application, 2019-2032 (USD Billion)

75. South Africa Industrial Hemp Market, By Product Type, 2019-2032 (USD Billion) 

76. South Africa Industrial Hemp Market, By Source, 2019-2032 (USD Billion) 

77. South Africa Industrial Hemp Market, By Application, 2019-2032 (USD Billion) 

List of Figures 

1. Global Industrial Hemp Market Segmentation

2. Industrial Hemp Market: Research Methodology

3. Market Size Estimation Methodology: Bottom-Up Approach

4. Market Size Estimation Methodology: Top-Down Approach

5. Data Triangulation

6. Porter’s Five Forces Analysis 

7. Value Chain Analysis 

8. Global Industrial Hemp Market Attractiveness Analysis by Product Type

9. Global Industrial Hemp Market Attractiveness Analysis by Source

10. Global Industrial Hemp Market Attractiveness Analysis by Application

11. Global Industrial Hemp Market Attractiveness Analysis by Region

12. Global Industrial Hemp Market: Dynamics

13. Global Industrial Hemp Market Share by Product Type (2022 & 2032)

14. Global Industrial Hemp Market Share by Source (2022 & 2032)

15. Global Industrial Hemp Market Share by Application (2022 & 2032)

16. Global Industrial Hemp Market Share by Regions (2022 & 2032)

17. Global Industrial Hemp Market Share by Company (2022)

This study forecasts revenue at global, regional, and country levels from 2019 to 2032. The Brainy Insights has segmented the global industrial hemp market based on below mentioned segments:

Global Industrial Hemp Market by Product Type:

  • Hemp Seed
  • Hemp Hurd
  • Hemp Seed Oil
  • Hemp Bast
  • CBD Hemp Oil
  • Others

Global Industrial Hemp Market by Source:

  • Conventional
  • Organic

Global Industrial Hemp Market by Application:

  • Foods and Beverages
  • Pharmaceuticals
  • Animal Nutrition
  • Building and Construction
  • Textiles
  • Personal Care Products
  • Paper Industry
  • Others

Global Industrial Hemp Market by Region:

  • North America
    • U.S.
    • Canada
    • Mexico
  • Europe
    • Germany
    • France
    • U.K.
    • Italy
    • Spain
  • Asia-Pacific
    • Japan
    • China
    • India
  • South America
    • Brazil
  • Middle East and Africa  
    • UAE
    • South Africa

Methodology

Research has its special purpose to undertake marketing efficiently. In this competitive scenario, businesses need information across all industry verticals; the information about customer wants, market demand, competition, industry trends, distribution channels etc. This information needs to be updated regularly because businesses operate in a dynamic environment. Our organization, The Brainy Insights incorporates scientific and systematic research procedures in order to get proper market insights and industry analysis for overall business success. The analysis consists of studying the market from a miniscule level wherein we implement statistical tools which helps us in examining the data with accuracy and precision. 

Our research reports feature both; quantitative and qualitative aspects for any market. Qualitative information for any market research process are fundamental because they reveal the customer needs and wants, usage and consumption for any product/service related to a specific industry. This in turn aids the marketers/investors in knowing certain perceptions of the customers. Qualitative research can enlighten about the different product concepts and designs along with unique service offering that in turn, helps define marketing problems and generate opportunities. On the other hand, quantitative research engages with the data collection process through interviews, e-mail interactions, surveys and pilot studies. Quantitative aspects for the market research are useful to validate the hypotheses generated during qualitative research method, explore empirical patterns in the data with the help of statistical tools, and finally make the market estimations.

The Brainy Insights offers comprehensive research and analysis, based on a wide assortment of factual insights gained through interviews with CXOs and global experts and secondary data from reliable sources. Our analysts and industry specialist assume vital roles in building up statistical tools and analysis models, which are used to analyse the data and arrive at accurate insights with exceedingly informative research discoveries. The data provided by our organization have proven precious to a diverse range of companies, facilitating them to address issues such as determining which products/services are the most appealing, whether or not customers use the product in the manner anticipated, the purchasing intentions of the market and many others.

Our research methodology encompasses an idyllic combination of primary and secondary initiatives. Key phases involved in this process are listed below:

MARKET RESEARCH PROCESS

Data Procurement:

The phase involves the gathering and collecting of market data and its related information with the help of different sources & research procedures.

The data procurement stage involves in data gathering and collecting through various data sources.

This stage involves in extensive research. These data sources includes:

Purchased Database: Purchased databases play a crucial role in estimating the market sizes irrespective of the domain. Our purchased database includes:

  • The organizational databases such as D&B Hoovers, and Bloomberg that helps us to identify the competitive scenario of the key market players/organizations along with the financial information.
  • Industry/Market databases such as Statista, and Factiva provides market/industry insights and deduce certain formulations. 
  • We also have contractual agreements with various reputed data providers and third party vendors who provide information which are not limited to:
    • Import & Export Data
    • Business Trade Information
    • Usage rates of a particular product/service on certain demographics mainly focusing on the unmet prerequisites

Primary Research: The Brainy Insights interacts with leading companies and experts of the concerned domain to develop the analyst team’s market understanding and expertise. It improves and substantiates every single data presented in the market reports. Primary research mainly involves in telephonic interviews, E-mail interactions and face-to-face interviews with the raw material providers, manufacturers/producers, distributors, & independent consultants. The interviews that we conduct provides valuable data on market size and industry growth trends prevailing in the market. Our organization also conducts surveys with the various industry experts in order to gain overall insights of the industry/market. For instance, in healthcare industry we conduct surveys with the pharmacists, doctors, surgeons and nurses in order to gain insights and key information of a medical product/device/equipment which the customers are going to usage. Surveys are conducted in the form of questionnaire designed by our own analyst team. Surveys plays an important role in primary research because surveys helps us to identify the key target audiences of the market. Additionally, surveys helps to identify the key target audience engaged with the market. Our survey team conducts the survey by targeting the key audience, thus gaining insights from them. Based on the perspectives of the customers, this information is utilized to formulate market strategies. Moreover, market surveys helps us to understand the current competitive situation of the industry. To be precise, our survey process typically involve with the 360 analysis of the market. This analytical process begins by identifying the prospective customers for a product or service related to the market/industry to obtain data on how a product/service could fit into customers’ lives.

Secondary Research: The secondary data sources includes information published by the on-profit organizations such as World bank, WHO, company fillings, investor presentations, annual reports, national government documents, statistical databases, blogs, articles, white papers and others. From the annual report, we analyse a company’s revenue to understand the key segment and market share of that organization in a particular region. We analyse the company websites and adopt the product mapping technique which is important for deriving the segment revenue. In the product mapping method, we select and categorize the products offered by the companies catering to domain specific market, deduce the product revenue for each of the companies so as to get overall estimation of the market size. We also source data and analyses trends based on information received from supply side and demand side intermediaries in the value chain. The supply side denotes the data gathered from supplier, distributor, wholesaler and the demand side illustrates the data gathered from the end customers for respective market domain.

The supply side for a domain specific market is analysed by:

  • Estimating and projecting penetration rates through analysing product attributes, availability of internal and external substitutes, followed by pricing analysis of the product.
  • Experiential assessment of year-on-year sales of the product by conducting interviews.

The demand side for the market is estimated through:

  • Evaluating the penetration level and usage rates of the product.
  • Referring to the historical data to determine the growth rate and evaluate the industry trends

In-house Library: Apart from these third-party sources, we have our in-house library of qualitative and quantitative information. Our in-house database includes market data for various industry and domains. These data are updated on regular basis as per the changing market scenario. Our library includes, historic databases, internal audit reports and archives.

Sometimes there are instances where there is no metadata or raw data available for any domain specific market. For those cases, we use our expertise to forecast and estimate the market size in order to generate comprehensive data sets. Our analyst team adopt a robust research technique in order to produce the estimates:

  • Applying demographic along with psychographic segmentation for market evaluation
  • Determining the Micro and Macro-economic indicators for each region 
  • Examining the industry indicators prevailing in the market. 

Data Synthesis: This stage involves the analysis & mapping of all the information obtained from the previous step. It also involves in scrutinizing the data for any discrepancy observed while data gathering related to the market. The data is collected with consideration to the heterogeneity of sources. Robust scientific techniques are in place for synthesizing disparate data sets and provide the essential contextual information that can orient market strategies. The Brainy Insights has extensive experience in data synthesis where the data passes through various stages:

  • Data Screening: Data screening is the process of scrutinising data/information collected from primary research for errors and amending those collected data before data integration method. The screening involves in examining raw data, identifying errors and dealing with missing data. The purpose of the data screening is to ensure data is correctly entered or not. The Brainy Insights employs objective and systematic data screening grades involving repeated cycles of quality checks, screening and suspect analysis.
  • Data Integration: Integrating multiple data streams is necessary to produce research studies that provide in-depth picture to the clients. These data streams come from multiple research studies and our in house database. After screening of the data, our analysts conduct creative integration of data sets, optimizing connections between integrated surveys and syndicated data sources. There are mainly 2 research approaches that we follow in order to integrate our data; top down approach and bottom up approach.

Market Deduction & Formulation: The final stage comprises of assigning data points at appropriate market spaces so as to deduce feasible conclusions. Analyst perspective & subject matter expert based holistic form of market sizing coupled with industry analysis also plays a crucial role in this stage.

This stage involves in finalization of the market size and numbers that we have collected from data integration step. With data interpolation, it is made sure that there is no gap in the market data. Successful trend analysis is done by our analysts using extrapolation techniques, which provide the best possible forecasts for the market.

Data Validation & Market Feedback: Validation is the most important step in the process. Validation & re-validation via an intricately designed process helps us finalize data-points to be used for final calculations.

The Brainy Insights interacts with leading companies and experts of the concerned domain to develop the analyst team’s market understanding and expertise. It improves and substantiates every single data presented in the market reports. The data validation interview and discussion panels are typically composed of the most experienced industry members. The participants include, however, are not limited to:

  • CXOs and VPs of leading companies’ specific to sector
  • Purchasing managers, technical personnel, end-users
  • Key opinion leaders such as investment bankers, and industry consultants

Moreover, we always validate our data and findings through primary respondents from all the major regions we are working on.

Ask for customization Request Sample Speak to analyst Inquire before buying

Flexible Purchase Options

  • Chapters of your choice
  • Quantitative Information for Historical & Forecasted Data
  • Regional/Country Level Reports
Request for Special Pricing

Get in touch with us

+1-315-215-1633

sales@thebrainyinsights.com

Our Clients

Why choose us

ProactiveWe manage our resources 24/7 to identify issues and address them before they become problems

Quality & ReliabilityWe are committed to providing reliable and highly accurate data with an excellent quality control system

Global Outreach6 Major regions and 40+ countries level analysis accomplished

Competitive PricingOur pricing strategy is highly competitive in the market, without compensating on the quality and the timeline of project delivery

Some Facts About The Brainy Insights

50%

Free Customization

300+

Fortune 500 Clients

1

Free Yearly Update On Purchase Of Multi/Corporate License

900+

Companies Served Till Date