Hemp-based Products

Global Hemp-based Products Market to Reach US$14.7 Billion by 2030

The global market for Hemp-based Products estimated at US$6.1 Billion in the year 2024, is expected to reach US$14.7 Billion by 2030, growing at a CAGR of 15.9% over the analysis period 2024-2030. Food Product, one of the segments analyzed in the report, is expected to record a 15.8% CAGR and reach US$3.7 Billion by the end of the analysis period. Growth in the Hemp CBD Product segment is estimated at 17.0% CAGR over the analysis period.

The U.S. Market is Estimated at US$1.7 Billion While China is Forecast to Grow at 21.0% CAGR

The Hemp-based Products market in the U.S. is estimated at US$1.7 Billion in the year 2024. China, the world`s second largest economy, is forecast to reach a projected market size of US$3.2 Billion by the year 2030 trailing a CAGR of 21.0% over the analysis period 2024-2030. Among the other noteworthy geographic markets are Japan and Canada, each forecast to grow at a CAGR of 11.8% and 14.3% respectively over the analysis period. Within Europe, Germany is forecast to grow at approximately 12.6% CAGR.

Global Hemp-Based Products Market – Key Trends & Drivers Summarized

Why Are Hemp-Based Products Rising in Popularity Across Multiple Consumer Sectors?

Hemp-based products are rapidly gaining global traction due to their sustainability, versatility, and wide range of applications across wellness, textiles, food, construction, and personal care. Derived from industrial hemp (Cannabis sativa L.), these products contain minimal THC and are legally cultivated in many regions for their eco-friendly characteristics and health benefits. Hemp seed oil, protein powder, clothing, bioplastics, paper, and CBD-infused wellness products are transforming the plant into a powerful economic and environmental commodity.

Consumer interest in natural, plant-based alternatives is driving demand for hemp in skincare, nutritional supplements, and eco-friendly materials. In food and beverage sectors, hemp is being positioned as a superfood rich in omega-3, fiber, and plant protein. Meanwhile, the personal care industry is embracing hemp-derived oils for their moisturizing and anti-inflammatory properties. With growing environmental consciousness and demand for organic labels, hemp has emerged as a sustainable raw material that resonates with ethical consumers.

How Are Regulations and Supply Chain Developments Shaping Product Commercialization?

The legalization and regulatory standardization of industrial hemp cultivation and processing—especially in the U.S., Canada, parts of Europe, and increasingly in Asia-Pacific—have opened the door for large-scale commercialization. Improved agricultural practices, government support, and investment in hemp processing technologies have streamlined supply chains, reduced costs, and increased availability of quality raw materials.

Technologies such as decorticators, fiber extractors, and CBD oil extraction equipment are enabling efficient value addition across sectors. At the same time, global regulations governing cannabinoid content and labeling requirements for CBD products are prompting brands to invest in product standardization, testing, and traceability. Blockchain-based supply chains and third-party certification systems are further strengthening transparency and consumer trust, especially in wellness and health-related applications.

Which Industries and Regions Are Fueling Demand for Hemp-Based Solutions?

Health and wellness is the largest end-use sector for hemp, encompassing dietary supplements, functional beverages, topical applications, and therapeutic oils. The textile industry is another major consumer, replacing cotton and synthetic fibers with durable, breathable hemp alternatives. The construction sector is exploring hempcrete (hemp-based concrete) for its carbon-negative potential and insulation properties. In packaging and automotive industries, hemp-based bioplastics are emerging as eco-friendly materials that can replace petroleum-derived products.

North America remains the largest market, with the U.S. leading hemp-based CBD and food product innovation. Europe is expanding rapidly, especially in organic textiles and sustainable construction. Asia-Pacific, particularly China and India, is a key supplier of raw hemp and is witnessing growing domestic application in textiles, ayurveda, and bioplastics. Latin America and Africa are exploring hemp cultivation for rural development and industrial use, supported by favorable climate and untapped land resources.

The Growth in the Hemp-Based Products Market Is Driven by Several Factors…

The growth in the hemp-based products market is driven by several factors tied to sustainable material demand, consumer wellness trends, and regulatory liberalization. Technological advancements in hemp cultivation, fiber processing, and cannabinoid extraction are enabling high-quality, scalable product development across categories. Supply chain maturity and regulatory frameworks have also improved, facilitating global trade and brand expansion.

From an end-use standpoint, rising interest in clean-label, natural health products is fueling the uptake of hemp-based foods, supplements, and personal care items. Sustainability mandates and carbon footprint reduction efforts are driving adoption in fashion, construction, and packaging sectors. Additionally, the alignment of hemp with organic farming practices, circular economy goals, and plant-based lifestyle movements is reinforcing its role as a transformative ingredient in future-ready industries.

SCOPE OF STUDY:

The report analyzes the Hemp-based Products market in terms of units by the following Segments, and Geographic Regions/Countries:

Segments:
Product Type (Food Product Type, HEMP CBD Product Type, Personal Care Product Type, Industrial Products Product Type, Food Supplement Product Type, Consumer Textiles Product Type, Other Product Types); End-Use (Industrial End-Use, Commercial End-Use, Residential End-Use); Distribution Channel (Online Distribution Channel, Offline Distribution Channel)

Geographic Regions/Countries:
World; United States; Canada; Japan; China; Europe (France; Germany; Italy; United Kingdom; Spain; Russia; and Rest of Europe); Asia-Pacific (Australia; India; South Korea; and Rest of Asia-Pacific); Latin America (Argentina; Brazil; Mexico; and Rest of Latin America); Middle East (Iran; Israel; Saudi Arabia; United Arab Emirates; and Rest of Middle East); and Africa.

Select Competitors (Total 44 Featured) -

• Aurora Cannabis Inc.
• Bluebird Botanicals
• Canopy Growth Corporation
• Charlotte`s Web Holdings, Inc.
• Curaleaf Holdings, Inc.
• Ecofibre Limited
• Elixinol Global Limited
• GenCanna Global Inc.
• Green Thumb Industries
• Hemp, Inc.
• HempFlax Group B.V.
• HempFusion Wellness Inc.
• Manitoba Harvest
• MH medical hemp GmbH
• Nutiva Inc.
• Parkland Industrial Hemp Growers Co-op Ltd.
• PharmaHemp d.o.o.
• Tilray Brands, Inc.
• Valley Bio Limited
• Victory Hemp Foods

TARIFF IMPACT FACTOR

Our new release incorporates impact of tariffs on geographical markets as we predict a shift in competitiveness of companies based on HQ country, manufacturing base, exports and imports (finished goods and OEM). This intricate and multifaceted market reality will impact competitors by artificially increasing the COGS, reducing profitability, reconfiguring supply chains, amongst other micro and macro market dynamics.

We are diligently following expert opinions of leading Chief Economists (14,949), Think Tanks (62), Trade & Industry bodies (171) worldwide, as they assess impact and address new market realities for their ecosystems. Experts and economists from every major country are tracked for their opinions on tariffs and how they will impact their countries.

We expect this chaos to play out over the next 2-3 months and a new world order is established with more clarity. We are tracking these developments on a real time basis.

As we release this report, U.S. Trade Representatives are pushing their counterparts in 183 countries for an early closure to bilateral tariff negotiations. Most of the major trading partners also have initiated trade agreements with other key trading nations, outside of those in the works with the United States. We are tracking such secondary fallouts as supply chains shift.

To our valued clients, we say, we have your back. We will present a simplified market reassessment by incorporating these changes!

APRIL 2025: NEGOTIATION PHASE

Our April release addresses the impact of tariffs on the overall global market and presents market adjustments by geography. Our trajectories are based on historic data and evolving market impacting factors.

JULY 2025 FINAL TARIFF RESET

Complimentary Update: Our clients will also receive a complimentary update in July after a final reset is announced between nations. The final updated version incorporates clearly defined Tariff Impact Analyses.

Reciprocal and Bilateral Trade & Tariff Impact Analyses:

USA
CHINA
MEXICO
CANADA
EU
JAPAN
INDIA
176 OTHER COUNTRIES.

Leading Economists - Our knowledge base tracks 14,949 economists including a select group of most influential Chief Economists of nations, think tanks, trade and industry bodies, big enterprises, and domain experts who are sharing views on the fallout of this unprecedented paradigm shift in the global econometric landscape. Most of our 16,491+ reports have incorporated this two-stage release schedule based on milestones.

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