[pageLogInLogOut]

#Raw Materials

$ 3.35 billion growth in global industrial hemp market during 2020-2024

Technavio announces the release of its latest report on the industrial hemp market. The market is segmented by application (textiles, hemp-based CBD, food and supplements, personal care, and others) and geography (APAC, North America, Europe, South America, and MEA). The report offers an in-depth analysis of recent developments, changes in market regulations, product approvals, product launches, and the market behavior across various segments.

Get a Free Sample Report Delivered Instantly to Know More

Industrial Hemp Market: Key Findings

• Industrial hemp market value to grow by USD 3.35 billion at over 11% CAGR during 2020-2024

• 46% of market growth to originate from APAC during the forecast period

• Based on the application, the textiles segment will offer maximum opportunities for vendors during the forecast period

• Industrial hemp market is expected to have a neutral impact due to the spread of COVID-19

Industrial Hemp Market: Growth Drivers

The increasing demand for industrial hemp from the textile industry is one of the prime factors driving the market growth. Industrial hemp fibers are extensively used in the textile industry as a substitute for cotton and synthetic fibers for manufacturing canvas, sailcloth, rope, sacks, clothing, furnishing textiles, specialty textiles, and other products. This is because hemp fibers contain numerous cracks and small holes that provide capillary effect, good moisture absorbing ability, and better breathing performance. Also, they possess various properties such as moisture permeability, good heat radiation, and static and ultraviolet resistance. Many such benefits are increasing the use of industrial hemp in the textile industry, thereby driving the market growth.

“Rise in the legalization of hemp cultivation and rising demand for industrial hemp from China and the US will further boost market growth during the forecast period”, says a senior analyst at Technavio.

Develop Smart Strategies for Your Business: Get a Free Sample Report Now!

Industrial Hemp Market: Major Vendors

22nd Century Group Inc.

22nd Century Group Inc. operates its business through segments such as Tobacco and Hemp. The company offers industrial hemp with optimized levels of medically important cannabinoids, including CBD, CBC, and CBG.

Aurora Cannabis Inc.

Aurora Cannabis Inc. operates its business through segments such as Cannabis and Horizontally Integrated Businesses. The company provides hemp CBD under the brand Reliva.






Bombay Hemp Company Pvt. Ltd.

Bombay Hemp Company Pvt. Ltd. operates its business through the Unified segment. The company offers high-quality hemp seeds.

Register for a free trial today and gain instant access to 17,000+ market research reports.

Technavio's SUBSCRIPTION platform

Related Reports on Materials Include:

Global Precipitated Silica Market – Global precipitated silica market is segmented by application (rubber, food, feed, and agrochemicals, cosmetics and oral care, coatings, paints, and inks, and others) and geography (APAC, North America, Europe, South America, and MEA), type (rubber grade and non-rubber grade). Click Here to Get an Exclusive Free Sample Report

Global Phosgene Market – Global phosgene market is segmented by application (MDI, TDI, and others) and geography (APAC, Europe, MEA, North America, and South America). Click Here to Get an Exclusive Free Sample Report

© 2021 technavio
© 2021 technavio


More News from TEXDATA International

#Recycling / Circular Economy

textile.4U publishes special edition “Top 100 Textile Recycling Companies 2025”

With a comprehensive 176-page special edition, textile.4U is dedicating its latest issue entirely to one of the most dynamic and influential topics in today’s textile industry: textile recycling. The new issue, published exclusively in high-quality print, presents the Top 100 textile recycling companies researched and selected by TexData – organizations that already play a key role in the transition to circular textiles or are expected to have a significant impact in the near future.

#Recycling / Circular Economy

Responsible Textile Recovery Act of 2024 signed by Governor

Senator Josh Newman (D-Fullerton) is proud to announce that Senate Bill 707 (SB 707), the Responsible Textile Recovery Act of 2024, has been signed into law by the Governor of California, Gavin Newsom. This groundbreaking legislation establishes the country’s first Extended Producer Responsibility (EPR) textile recycling program, marking a significant step forward in the state’s efforts to combat waste and promote sustainability.

#Textiles & Apparel / Garment

Modtissimo promotes sustainability with 28 coordinates in the Green Circle

Modtissimo is proving more and more to be a textile and clothing show that delivers the latest innovations in the area of sustainability, with the iTechStyle Green Circle being the main showcase for companies' creations. In this 60+4 edition, taking place on 12 and 13 September, 28 coordinates will be exhibited in a section organised by CITEVE and curated by Paulo Gomes.

#Europe

The EU and Egypt team up to mobilise private sector investments at Investment Conference and sign a Memorandum of Understanding underpinning €1 billion in macro-financial assistance for Egypt

At the EU-Egypt Investment Conference, co-organised by the EU and the Government of Egypt on 29-30 June, the EU and Egypt are teaming up to intensify private sector investments in Egypt. They are also signing a Memorandum of Understanding (MoU) for the disbursement to Egypt of up to €1 billion in Macro-Financial Assistance.

More News on Raw Materials

#Natural Fibers

Modern testing methods for raw cotton

The 38th International Cotton Conference Bremen will take place from 25 to 27 March 2026 at the Bremen Parliament. This conference has traditionally stood for in-depth expertise and international exchange. The program will focus on technical innovations, market trends, and regulatory frameworks across the entire value chain – from agriculture to the circular economy. With high-profile speakers, the conference is regarded as the key meeting point for the global cotton industry. Today’s focus: Cotton quality and testing methods.

#Natural Fibers

38th International Cotton Conference Bremen: Let´s Talk about Cotton!

The 38th International Cotton Conference Bremen, to be held on 25-27 March 2026 in Bremen’s parliament building on market square, once again sends a powerful signal for professional excellence and international dialogue. The focus is on the latest market trends and technical innovations throughout the entire value chain – from agriculture and quality assurance to processing and the circular economy. With its high-calibre speakers, the conference remains an indispensable forum for anyone involved in shaping the cotton industry scientifically, technically, or economically.

#Natural Fibers

Human Rights Day: Cotton made in Africa reinforces its commitment to ensuring respect for human rights in cotton production

The sustainable cotton standard Cotton made in Africa (CmiA) has always focussed on respect for human rights, including by prohibiting child labour and discrimination. With the new version of the CmiA standard coming into force, AbTF raises requirements for due diligence in the areas of human rights and risk management.

#Research & Development

How innovations drive BASF’s success

“Innovation has always been part of BASF’s DNA. Especially in these volatile times, it is crucial to leverage our innovative strength to develop competitive solutions that differentiate us as a company in our markets and give us a competitive edge,” said Dr. Stephan Kothrade, Member of the Board of Executive Directors of BASF and Chief Technology Officer, at the company’s Research Press Briefing held today. To achieve this, BASF implemented its “Winning Ways” strategy about a year ago with the clear goal of becoming the preferred chemical company to enable its customers’ green transformation.

Latest News

#Denim

ISKO’s denim language at Bluezone

ISKO returns to Bluezone to showcase its latest advancements in denim innovation, presenting a comprehensive overview of its SS27 collection alongside key creative and technological collaborations. At booth C02, ISKO offers visitors an immersive look into how performance, design, and circular thinking are shaping the future of denim.

#Research & Development

Exchange data between textile companies openly, securely and cost-effectively without a central platform – ITA makes it possible

The Institut für Textiltechnik (ITA) of RWTH Aachen University has launched a new demonstrator for an open and secure data space in the textile industry at the Digital Innovation Centre Europe (DICE). For the first time, the demonstrator shows directly and clearly how companies can share their data securely with each other without the need for a central platform. Data exchange is based on shared, freely usable technical foundations.

#Man-Made Fibers

Kelheim Fibres GmbH informs about the closure of operations

The management of Kelheim Fibres GmbH informs that business operations will be terminated as of 31 March 2026. A continuation of the company beyond this date is not possible. The investor and sales process conducted within the framework of the self-administration did not lead to a positive outcome. The potential strategic investor who most recently entered the process has withdrawn from a potential investment at short notice.

#Europe

EU and India conclude landmark Free Trade Agreement

The EU and India concluded negotiations today for a historic, ambitious and commercially significant free trade agreement (FTA), the largest such deal ever concluded by either side. It will strengthen economic and political ties between the world's second and fourth largest economies, at a time of rising geopolitical tensions and global economic challenges, highlighting their joint commitment to economic openness and rules-based trade.

TOP