Industrial Hemp Market Size To Reach $27.7 Billion By 2033

Industrial Hemp Market Growth & Trends 

The global industrial hemp market size is anticipated to reach USD 27.7 billion in 2033 and is expected to grow at a CAGR of 17.9% from 2026 to 2033, according to a new report by Grand View Research, Inc. The rising product demand from industries, such as agriculture, textiles, personal care, recycling, furniture, food & beverage, paper, and construction materials, is projected to propel market growth. Hemp is increasingly being used in medicinal products and nutritional supplements. The high nutritional values and beneficial fatty acid and protein profile of hemp are driving the demand for hemp products in the market. In addition, hemp oil is used in shampoos, soaps, lotions, bath gels, and other cosmetics, further benefiting the industry growth.

The strength to weight ratio, high tensile strength, and flexural strength of industrial hemp offer desired benefits in bio-composites for automotive parts, fiberboard, aerospace, and packaging. Furthermore, the product demand from the textile, paper, and building materials markets is growing on account of its favorable acoustic and aesthetic properties. The rising demand for eco-friendly products in construction materials, fiberglass alternatives, thermal insulation, and automotive products is expected to promote market growth. The growing demand for technical products, such as varnishes, oil paints, fuel, solvents, chain-saw lubricants, printing inks, putty, and coatings, is expected to have a positive impact on the market growth.

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Industrial Hemp Market Report Highlights

• The seeds product segment accounted for the maximum revenue share in 2025 owing to the increased product usage in nutritional supplements &medicinal and therapeutic products, such as pharmaceuticals

• The personal care segment is witnessing strong growth in the market due to increasing demand for natural and organic ingredients in skincare and cosmetics.

• North America industrial hemp industry dominated the global market with a revenue share of 36.0% in 2025, due to favorable regulatory frameworks, particularly the legalization of hemp cultivation and commercialization under policies such as the U.S. Farm Bill 2018.

Industrial Hemp Market Segmentation

Grand View Research has segmented the global industrial hemp market based on product, application, and region:

Industrial Hemp Product Outlook (Volume, Tons; Revenue, USD Million, 2021 - 2033)

• Fiber

• Shives

• Seeds

Industrial Hemp Application Outlook (Volume, Tons; Revenue, USD Million, 2021 - 2033)

• Animal care

• Textiles

• Automotive

• Furniture

• Food & beverages

• Paper

• Construction materials

• Personal care

• Others

Industrial Hemp Regional Outlook (Volume, Tons; Revenue, USD Million, 2021 - 2033)

• North America

  • U.S.

  • Canada

  • Mexico

• Europe

  • Germany

  • UK

  • France

• Asia Pacific

  • China

  • India

  • Japan

• Latin America

  • Brazil

• Middle East & Africa

List of Key Players in Industrial Hemp Market

• Parkland Industrial Hemp Growers Cooperative Ltd.

• CBD Biotechnology Co.

• Botanical Genetics, LLC

• Marijuana Company of America Inc.

• HempMeds Brasil

• Terra Tech Corp.

• American Cannabis Company, Inc.

• HempFlax B.V.

• Industrial Hemp Manufacturing, LLC

• American Hemp

• Hemp, Inc.

• Boring Hemp Company

• Plains Industrial Hemp Processing Ltd.

• Ecofiber Industries Operations

• Valley Bio Limited