The Global Hemp Derivatives Market is expected to cross USD 17 Billion by 2025 at a CAGR of 30.0% during the forecast period of 2019 to 2025. The global market is expected to be lucrative for the active vendors owing to the rising use of hemp derivatives in animal feed, biofuel, and bioplastics, among others. Market players are investing in R&D and introducing pet food products such as pet treats made from hemp. For instance, in September 2018, EastWest Bioscience, a Canadian hemp-based products manufacturer, launched the hemp-based pet products brand Natural Pet Science to cater to the rising demand for health-conscious pet treats. Additionally, the legalization of hemp in several countries has propelled market players to invest in the market and expand their presence across the globe.
Market USP
Health benefits associated with hemp-based products
Growth Opportunities in the Market
Growth of the Food & Beverage Industry: Intensive research on hemp and its effect on human and animal health has led to the legalization of hemp in several countries. Hemp contains trace amounts of tetrahydrocannabinol (THC) and has proven to be beneficial as an anti-depressant, anti-inflammatory, antioxidant, and anti-carcinogenic. Owing to such benefits, the demand for hemp derivatives such as seed, oil, powder, and hemp-derived CBD oil is increasing in various food & beverage applications including snacks, beverages, dairy products, frozen desserts, and bakery products. The growth of the global food & beverage industry is expected to offer profitable growth opportunities to the market players by opening up new investment pockets.
Key Players
Hemp Oil Canada (Canada)
GenCanna Global USA, Inc. (US)
Ecofibre (Australia)
MH Medical Hemp GmbH (Germany)
Konoplex LLC (Russia)
Canopy Growth Corporation (Canada)
HempFlax Group B.V. (Netherlands)
HemPoland (Poland)
Bafa Neu GmbH (Germany)
Hempco Inc. (Canada)
Dutch Hemp Group (Netherlands)
Colorado Hemp Works, LLC (US)
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