Market Forecast

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.

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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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.
Regional Analysis

The North American region is projected to continue with its dominance due to the high consumption of sourdoughs. The region is expected to create a large revenue pocket in the global market, growing further, over its previous growth records by 2022.

Key forces such as high per-capita income, the presence of a significant number of food enthusiasts influence the market growth in the region positively. The Hemp Derivatives Market in the US backed by the constant R&D efforts accounts for the major contributor to the market growth in the region, witnessing novelties in the product.

The European region accounts for the second-largest market for Sourdough. The market in the region is surging mainly due to the major contributing countries such as France, Italy, Germany, and the UK, which are heading due to the presence of well-established market players and larger food connoisseur populace. simultaneously, improvement in the product development alongside the growing distribution channels will positively influence the demand in the market.

The Hemp Derivatives Market in the Asia Pacific region is emerging as a lucrative market, worldwide. The improving economic conditions in some of the APAC countries like India and China, support the growth of the Hemp Derivatives Market in the region. Also, due to the increasing consumption of the product in developing countries the size of the APAC market is continuously increasing.

Sourdough in the APAC region has a distinctive character of its own. In APAC, sourdough starters are made using all-purpose flour or wheat flour or a combination of both which alongside the uniqueness of the microbes, water quality, and the warm temperature make wonders to the sourdoughs prepared here. As a result, bakers in India and China have lifted sourdough another notch with their creativity. All these factors commutatively drive the market growth in the APAC region.

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