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Global Industrial Hemp Market 2020 by top Companies: Hempco (Canada), Ecofibre (Australia), Hemp Inc. (US), GenCanna (US), HempFlax BV (Netherlands), Konoplex Group and Other | Coronavirus-COVID19 Impact Analysis | 17% OF CAGR by 2027

The Global Industrial Hemp Market was valued at USD 4,638.6 million in 2018 and is expected to reach USD 16,758.9 million in 2026, growing at a CAGR of 17.0% by 2027.
Market reports under the Industrial Hemp industry are supported by various macro and micro economic factors impacting the industry. We browse through historical data and provide an overview of the emerging markets and the next big opportunities for investors within the niche market. Increasing demand from emerging countries provides a good business opportunity for companies to invest in coming years. Our reports are updated with changing industry regulatory policies and offer insight depending on client’s requirement.

Industrial hemp is extracted from the cannabis sativa and widely adopted worldwide for the production of a variety of industrial and consumer products. Hemp is a great source of fiber and oilseed in the global market. The production and consumption of the hemp are characterized under the drug enforcement laws based out country-wise. For instance, in the US, the permit for the production of industrial hemp is permitted from the Drug Enforcement Agency (DEA).

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Market Segmentation of Industrial Hemp Market:
Following Top Key players are profiled in this Market Study:
Hempco (Canada), Ecofibre (Australia), Hemp Inc. (US), GenCanna (US), HempFlax BV (Netherlands), Konoplex Group (Russia), Hemp Oil Canada (Canada), BAFA (Germany), Colorado Hemp Works (US), and Canah International (Romania) among others.,

End- Users: Pharmaceutical, Food, Beverages, Personal Care, Others

Impact of COVID-19 on Global Industrial Hemp Market :

Industrial Hemp Market report analyses the impact of Coronavirus (COVID-19) on the Industrial Hemp industry.
Since the COVID-19 virus outbreak in December 2019, the disease has spread to almost 180+ countries around the globe with the World Health Organization declaring it a public health emergency. The global impacts of the coronavirus disease 2019 (COVID-19) are already starting to be felt, and will significantly affect the Industrial Hemp market in 2020.

The outbreak of COVID-19 has brought effects on many aspects, like flight cancellations; travel bans and quarantines; restaurants closed; all indoor events restricted; emergency declared in many countries; massive slowing of the supply chain; stock market unpredictability; falling business assurance, growing panic among the population, and uncertainty about future.

COVID-19 can affect the Global economy in 3 main ways: by directly affecting production and demand, by creating supply chain and market disturbance, and by its financial impact on firms and financial markets.

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Based on the End-use Industry, the pharmaceutical segment is expected to dominate the market during the forecast period,
Based on the End-use Industry, the market has been segmented into pharmaceutical, food, beverage, personal care, and others. The pharmaceutical End-use Industry segment accounts of the largest share in the global industrial hemp market in 2018. The major factors that are driving the growth of this segment are the increased research and development on hemp revealed the benefits and increase in use of the usage of CBD hemp oil in the treatment of seizures, sleep disorders, and diseases

Regional Analysis of Industrial Hemp Market:
North America
Europe
Asia Pacific
LATAM
Middle East Africa

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Europe is expected to dominate the industrial hemp market throughout the forecast period, ,
Europe accounted for nearly 40% share of the global industrial hemp market in 2018 followed by North America, and is expected to dominate the market throughout the forecast period owing to the presence of a large consumer base for industrial hemp in the end-use industries such as food, beverages, dietary supplements, and personal care products., , Asia-Pacific is expected to hold the highest CAGR in the global market during the forecast period owing to the extensive production and consumption of hemp fiber across the textile and paper industry. Moreover, owing to the growing market in terms of sales and demand for cosmetics and personal care products in the Asia-Pacific and further increased focused on the legalization of industrial hemp in food supplements are estimated to drive the market growth

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