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U.S. Industrial Hemp Market

U.S. Industrial Hemp Market By Type (Hemp Seed, Hemp Seed Oil, Hemp Fiber, Others); By Source (Organic, Conventional); By Application (Food & Beverages, Textile, Pharmaceuticals, Construction Material, Others) – Growth, Share, Opportunities & Competitive Analysis, 2024 – 2032

Summary
Table Of Content

REPORT ATTRIBUTE	DETAILS
Historical Period	2020-2023
Base Year	2024
Forecast Period	2025-2032
U.S. Industrial Hemp Market Size 2023	USD 2,328.89 million
U.S. Industrial Hemp Market, CAGR	21.8%
U.S. Industrial Hemp Market Size 2032	USD 13,756.51 million

Market Overview

U.S. Industrial Hemp market size was valued at USD 2,328.89 million in 2023 and is anticipated to reach USD 13,756.51 million by 2032, at a CAGR of 21.8% during the forecast period (2023-2032).

The U.S. industrial hemp market is experiencing robust growth driven by increasing consumer awareness of hemp-based products, favorable regulatory developments, and the rising demand for sustainable raw materials across industries. The 2018 Farm Bill, which legalized hemp cultivation, has significantly boosted investment and innovation within the sector. Key applications in textiles, food and beverages, personal care, and bioplastics are expanding rapidly due to hemp’s eco-friendly properties and versatile use. Moreover, the growing interest in cannabidiol (CBD) products has further accelerated market expansion, supported by ongoing research and product development. Companies are increasingly focusing on vertical integration and advanced cultivation techniques to enhance yield and quality. As sustainability becomes a core priority for consumers and businesses alike, hemp’s potential as a renewable and low-impact crop continues to attract attention. These market dynamics, combined with technological advancements and broader acceptance, position industrial hemp as a key player in the future of green industries.

The U.S. industrial hemp market demonstrates diverse regional growth, with key production and innovation hubs spread across the Western, Midwestern, Southern, and Northeastern United States. Regions such as Colorado, Kentucky, and Oregon lead in cultivation, supported by favorable climates and progressive regulatory frameworks. Meanwhile, states like New York and North Carolina are fostering advancements in hemp processing and product development. This geographic spread allows for a balanced distribution of hemp production for various applications including fiber, seed, and cannabinoids. On the corporate front, prominent players such as Curaleaf Holdings, Inc., Green Thumb Industries, Canopy Growth Corporation, and GenCanna are driving market innovation through product diversification, strategic partnerships, and investment in research and infrastructure. Additionally, emerging companies like IND HEMP, Hemp Inc, and American Hemp LLC are contributing to market expansion by focusing on sustainable raw materials and region-specific applications, reinforcing the sector’s long-term growth potential.

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Market Insights

The U.S. industrial hemp market was valued at USD 2,328.89 million in 2023 and is projected to reach USD 13,756.51 million by 2032, growing at a CAGR of 21.8% from 2023 to 2032.

The global industrial hemp market was valued at USD 7,987.24 million in 2023 and is expected to reach USD 46,774.80 million by 2032, growing at a CAGR of 21.7% from 2023 to 2032.

Legalization under the 2018 Farm Bill and rising demand for sustainable products continue to drive market expansion.
Increasing popularity of hemp-derived cannabinoids like CBD and delta-8 THC is shaping consumer trends in wellness and personal care.
Companies are investing in diverse hemp-based applications such as bioplastics, textiles, construction materials, and functional foods.
Regulatory uncertainty, especially around FDA guidelines for CBD in food and supplements, remains a significant market restraint.
Western and Midwestern regions lead production due to favorable climates and strong agricultural infrastructure, while the Northeast focuses on premium and organic products.
Major players such as Curaleaf, Green Thumb Industries, and IND HEMP are expanding their product portfolios and geographic reach to maintain a competitive edge.

Report scope

This report segments the U.S. Industrial Hemp Market as follows:

Market Drivers

Regulatory Support and Legalization

One of the primary drivers of the U.S. industrial hemp market is the evolving regulatory landscape that favors hemp cultivation and commercialization. The passing of the 2018 Farm Bill marked a significant milestone by federally legalizing the cultivation of hemp, provided it contains less than 0.3% THC. For instance, the USDA’s Domestic Hemp Production Program has established guidelines for hemp cultivation, ensuring compliance and providing farmers with resources to navigate the regulatory framework. Federal and state-level policies continue to promote hemp farming through incentives, research funding, and the development of regulatory frameworks. These legislative changes have increased market confidence, attracted new entrants, and provided a solid foundation for long-term industry growth.

Rising Demand for Sustainable and Eco-Friendly Products

Industrial hemp’s eco-friendly profile is driving its adoption across a wide range of industries. As sustainability becomes a priority for consumers and corporations, hemp’s low environmental impact, minimal need for pesticides, and ability to regenerate soil make it an attractive raw material. The plant’s versatility allows it to be used in textiles, construction materials, bioplastics, and biofuels, aligning with the growing demand for greener alternatives. Companies are increasingly leveraging hemp in product lines that promote environmental responsibility, helping to build a positive brand image while meeting consumer expectations. This strong alignment with global sustainability goals positions industrial hemp as a cornerstone of the green economy.

Expanding Applications in Health, Wellness, and Nutrition

The expanding use of hemp-derived ingredients, particularly cannabidiol (CBD), in the health and wellness sector is another major market driver. For instance, the FDA has approved Epidiolex, a CBD-based medication for epilepsy, underscoring the therapeutic potential of hemp-derived products. Additionally, companies like Charlotte’s Web are leading the way in producing high-quality CBD oils and supplements that cater to consumer demand for natural alternatives. The growing body of scientific research supporting the efficacy of CBD and other cannabinoids is reinforcing consumer trust and encouraging product innovation. This trend is expected to continue as the wellness industry increasingly integrates plant-based solutions into mainstream offerings.

Technological Advancements and Agricultural Innovation

Technological advancements in hemp cultivation and processing are significantly enhancing product quality and supply chain efficiency. Innovations in genetics, irrigation, and pest management have led to higher crop yields and improved consistency, making industrial hemp more commercially viable. Additionally, advancements in extraction and refining technologies are allowing manufacturers to develop high-purity hemp-derived ingredients tailored for specific applications. As research institutions and private firms invest in hemp-focused R&D, new applications and product formats are emerging, further expanding the market potential. These innovations not only lower production costs but also help companies scale operations and respond effectively to growing consumer demand.

Market Trends

Rising Popularity of Hemp-Derived THC and CBD Products

The increasing demand for hemp-derived cannabinoids, particularly CBD and delta-8 THC, is a key trend reshaping the U.S. industrial hemp market. Since the legalization of hemp cultivation under the 2018 Farm Bill, companies have capitalized on the opportunity to create a wide range of wellness products, including oils, tinctures, edibles, and beverages. Of particular note is the rise in popularity of hemp-derived THC alternatives that remain compliant with federal regulations by maintaining THC levels below 0.3%. These products, such as delta-8 and delta-10, offer consumers a mild psychoactive experience and are rapidly gaining traction in states where recreational cannabis remains restricted. Additionally, the growing acceptance of CBD for managing anxiety, inflammation, and sleep disorders continues to drive product innovation across multiple categories, including health supplements, pet care, and cosmetics. As research into cannabinoids expands and consumer trust builds, hemp-derived extracts are poised to become mainstays in the U.S. wellness economy.

Surge in Demand for Hemp-Based Food, Beverages, and Nutrition

Another significant trend in the industrial hemp market is the growing demand for hemp-based food and beverage products. For instance, the USDA has recognized hemp seeds as a nutrient-dense source of essential fatty acids, fiber, and protein, promoting their inclusion in functional foods. Companies like Manitoba Harvest have introduced hemp-based products such as protein powders and cooking oils into mainstream grocery and health food retail spaces. Functional beverages infused with CBD, like those produced by Recess, are gaining popularity for their perceived calming and wellness benefits, aligning with broader consumer preferences for holistic health solutions.

Sustainable Applications in Construction and Industrial Materials

Hemp’s potential as a sustainable material is gaining attention in the construction and industrial sectors. Products like hempcrete, hemp fiber insulation, and hemp-based composites are emerging as eco-friendly alternatives to traditional building materials. These products offer superior insulation, mold resistance, and carbon sequestration benefits, aligning with increasing demand for green building solutions and energy-efficient housing. Several states and private companies are investing in pilot projects and infrastructure to support the integration of hemp into mainstream construction practices. In parallel, automotive and packaging industries are exploring hemp-based bioplastics and fibers to reduce reliance on petrochemical-based inputs. As ESG (Environmental, Social, and Governance) goals become central to corporate strategies, industrial hemp is positioned as a strategic material that contributes to both environmental sustainability and economic development.

Advancements in Cultivation, Processing, and Supply Chain Efficiency

Technological innovation continues to play a critical role in driving the industrial hemp market forward. For instance, research institutions like the University of Kentucky are developing hemp-specific irrigation and pest management techniques to improve crop yields. On the processing side, companies such as GenCanna are investing in advanced decortication and cannabinoid extraction technologies to enhance efficiency and product quality. The development of vertically integrated supply chains, as seen in initiatives by Hemp Inc., is helping companies manage risk, ensure product consistency, and scale operations effectively.

Market Challenges Analysis

Regulatory Uncertainty and Compliance Complexities

Despite the legalization of industrial hemp under the 2018 Farm Bill, regulatory uncertainty remains one of the most significant challenges for the U.S. hemp industry. For instance, the FDA’s lack of clear guidelines for CBD inclusion in food and beverages has led to confusion, as highlighted by the National Hemp Association. Additionally, discrepancies between federal and state-level rules lead to compliance burdens for businesses operating across multiple jurisdictions. The complexity of THC testing standards, licensing requirements, and labeling regulations further adds to operational hurdles. Until a consistent and comprehensive regulatory framework is established, companies may struggle with uncertainty, limited access to capital, and the risk of non-compliance, which could hinder long-term market growth and innovation.

Market Volatility, Oversupply, and Infrastructure Gaps

Another major challenge confronting the U.S. industrial hemp market is volatility in supply and demand, exacerbated by oversupply and limited processing infrastructure. Following the 2018 legalization, a surge in hemp cultivation led to an oversaturated market, with many farmers producing more biomass than the market could absorb. This resulted in falling prices, product backlogs, and financial losses for growers. Compounding this issue is the lack of adequate domestic processing facilities capable of handling hemp for diverse applications such as fiber, grain, and cannabinoids. Most existing infrastructure is geared toward CBD extraction, leaving other sectors of the hemp market underdeveloped. Inadequate supply chain coordination and limited access to specialized equipment also hinder the scaling of industrial hemp operations. For the industry to realize its full potential, strategic investment in infrastructure, advanced processing technologies, and better alignment between supply and market demand will be essential.

Market Opportunities

The U.S. industrial hemp market presents substantial opportunities driven by growing demand across multiple high-growth sectors, including sustainable materials, wellness, food, and pharmaceuticals. As consumers and industries increasingly shift toward eco-friendly and plant-based alternatives, hemp offers unique value due to its versatility, renewability, and low environmental impact. From textiles and bioplastics to hempcrete and insulation materials, the potential for hemp to replace traditional, resource-intensive inputs is significant. Furthermore, as the construction industry prioritizes green building practices, hemp-based materials are gaining attention for their carbon-sequestering capabilities and energy efficiency. Investment in research and development, particularly in non-CBD applications of the hemp plant, is poised to unlock innovative products and drive diversification within the market. Companies that capitalize on these emerging applications are likely to benefit from strong competitive advantages and early mover benefits.

Additionally, the growing acceptance of hemp-derived cannabinoids in health and wellness products opens promising opportunities for expansion. With rising consumer interest in natural remedies, hemp extracts such as cannabidiol (CBD) are increasingly being integrated into dietary supplements, skincare formulations, and functional beverages. As clinical studies continue to validate the therapeutic benefits of hemp-derived compounds, demand is expected to grow further. Regulatory progress, such as clearer FDA guidelines for CBD in consumer products, could unlock significant market potential by allowing wider retail distribution and mainstream consumer adoption. Moreover, advancements in agricultural technology and genetics are creating new possibilities for high-yield, specialized hemp crops tailored to specific industrial or therapeutic uses. As infrastructure and processing capabilities improve, the market is well-positioned to support scalable growth. Overall, the U.S. industrial hemp sector offers a dynamic landscape for innovation, investment, and sustainable economic development.

Market Segmentation Analysis:

By Type:

The U.S. industrial hemp market is segmented by type into hemp seed, hemp seed oil, hemp fiber, and others, each contributing to the industry’s diversification and value chain expansion. Hemp seeds are gaining traction in the health food market due to their rich nutritional profile, including essential fatty acids, protein, and fiber. They are widely used in snack bars, cereals, and nutritional supplements. Hemp seed oil, known for its skin-nourishing properties and high omega content, is driving growth in the personal care and cosmetics sector, as well as in culinary and therapeutic products. Hemp fiber is experiencing increased demand in the textile, automotive, and construction industries for its strength, durability, and sustainability. As industries seek greener alternatives, applications such as hempcrete and biodegradable plastics are becoming more prominent. The “others” category, including hemp-based cannabinoids and biomass, continues to grow as research supports new uses in pharmaceuticals and biofuels. These diverse applications highlight hemp’s adaptability across various industrial domains.

By Source:

Segmenting the market based on source, organic hemp and conventional hemp cater to distinct consumer demographics and industry requirements. Organic hemp is witnessing rising demand, particularly in the health and wellness space, where consumers are prioritizing clean-label, chemical-free products. Products made from organic hemp—such as oils, supplements, and skincare items—are perceived as premium, allowing companies to charge higher price points. This segment is expected to grow steadily, driven by increasing environmental and health consciousness. On the other hand, conventional hemp dominates in bulk industrial applications where cost-efficiency is critical, such as textiles, paper, and construction materials. While it may not meet organic standards, conventional hemp offers a scalable and affordable option for mass-market production. As cultivation techniques advance and certification becomes more accessible, the line between these two segments may blur, but both are poised to play integral roles in addressing demand across consumer and industrial markets.

Segments:

Based on Type:

Hemp Seed
Hemp Seed Oil
Hemp Fiber
Others

Based on Source:

Organic
Conventional

Based on Application:

Food & Beverages
Textile
Pharmaceuticals
Construction Material
Others

Based on the Geography:

Western United States
Midwestern United States
Southern United States
Northeastern United States

Regional Analysis

Western United States

The Western United States holds the largest share of the U.S. industrial hemp market, accounting for approximately 34% of total revenue. States such as Colorado, California, and Oregon are leading contributors due to their favorable climates, progressive regulations, and early adoption of hemp farming. Colorado, in particular, has emerged as a national hub for hemp cultivation and innovation, with a well-developed infrastructure supporting both agricultural and industrial applications. The region also benefits from a strong base of research institutions and hemp-focused enterprises that are continuously exploring new applications in wellness, construction, textiles, and food industries. With growing interest in sustainable practices and a supportive policy environment, the Western region is expected to maintain its dominant position in the coming years.

Midwestern United States

The Midwestern United States holds an estimated 26% of the market share, driven largely by its strong agricultural base and availability of arable land. States like Kentucky, Minnesota, and Illinois have transitioned portions of traditional crop land into hemp production due to shifting demand dynamics and the decline in profitability of some conventional crops. The region’s well-established farming infrastructure allows for large-scale cultivation of hemp for fiber and seed, which are essential for manufacturing textiles, paper, and food products. Additionally, Midwestern states are actively investing in processing facilities and supply chain development to support the broader use of industrial hemp. With continued investment and increased acceptance of hemp as a commercial crop, the Midwest is well-positioned to grow its market share in the near future.

Southern United States

The Southern United States captures approximately 22% of the U.S. industrial hemp market, with notable activity in states like Tennessee, North Carolina, and Texas. The region benefits from a long growing season, favorable climate, and a growing number of licensed hemp growers. The Southern states are increasingly producing hemp for cannabinoids, particularly CBD, which remains a dominant application in wellness and personal care products. Additionally, hemp farming in the South is being supported by educational outreach, cooperative programs, and regulatory adjustments that encourage crop diversification among farmers. While challenges such as infrastructure gaps persist, ongoing improvements are setting the stage for accelerated regional growth.

Northeastern United States

The Northeastern United States accounts for an estimated 18% of the total industrial hemp market. States like New York, Vermont, and Pennsylvania are leading the region’s efforts, particularly in the development of hemp-based wellness products and sustainable materials. New York, with its investment in hemp research and development, is driving innovation in cultivation techniques and processing. While the region has a smaller land area for large-scale farming compared to the West or Midwest, it compensates with a strong focus on premium, organic, and value-added products. Increasing support from state governments and the presence of niche market players make the Northeast a competitive contributor to the national hemp landscape.

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Key Player Analysis

Curaleaf Holdings, Inc.
Green Thumb Industries
Canopy Growth Corporation
GenCanna
IND HEMP
Hemp Inc
Marijuana Company of America Inc
American Hemp LLC
Green Field Paper Company
Hemp Horizon
Rawganic

Competitive Analysis

The U.S. industrial hemp market is characterized by strong competition among both established corporations and emerging innovators. Leading players such as Curaleaf Holdings, Inc., Green Thumb Industries, Canopy Growth Corporation, GenCanna, IND HEMP, Hemp Inc, Marijuana Company of America Inc, American Hemp LLC, Green Field Paper Company, Hemp Horizon, and Rawganic are actively shaping the competitive landscape through product diversification, vertical integration, and strategic partnerships. These companies focus on multiple segments, including CBD-based wellness products, hemp-derived textiles, bio-construction materials, and hemp food supplements, allowing them to capture broad consumer and industrial interest. Most key players are heavily investing in research and development to improve extraction processes, enhance product quality, and comply with evolving regulatory standards. Additionally, branding, traceability, and sustainability practices are becoming critical differentiators, especially in premium and organic product categories. With increasing consumer awareness and demand for plant-based alternatives, market leaders are also expanding their distribution networks through e-commerce and retail collaborations. As the regulatory framework matures and infrastructure improves, competition is expected to intensify, driving innovation and consolidation within the sector.

Recent Developments

In October 2024, Canopy Growth Corporation acquired Wana, which includes Wana Wellness, LLC, The CIMA Group, LLC, and Mountain High Products, LLC. With this acquisition, Canopy USA holds 100% of Wana’s equity interests. The acquisition will help the company to build a leading brand-focused cannabis company in the US.
In October 2024, AURORA CANNABIS INC. launched an expanded range of premium medical cannabis oils in Australia in partnership with MedReleaf Australia. Designed to meet diverse patient needs, the new offerings include Aurora THC 25 (Sativa), Aurora THC 25 (Indica), Aurora 12.5:12.5 oil, Aurora 50:50 oil, and Aurora 10:100 oil, all available in 30 ml bottles for physician prescription.
In June 2024, Curaleaf Holdings, Inc. launched new lines of hemp-derived THC products under its Select and Zero Proof brands. These products will be available across 25 states and the District of Columbia through direct-to-consumer delivery and Curaleaf’s national distribution network.
In May 2024, The Cronos Group partnered with GROW Pharma, a leading distributor of medicinal cannabis in the UK, to expand its PEACE NATURALS brand into the UK. Through this collaboration, Cronos will supply high-quality, premium cannabis products, ensuring patients in the UK have access to the globally recognized brand PEACE NATURALS.
In February 2024, RISE Dispensaries, the cannabis retail chain owned by Green Thumb Industries Inc., expanded its presence with the opening of its 15th retail location in Florida and 92nd nationwide. The new store will feature special promotions and complimentary merchandise for its first customers. It opens the company to a much larger reach of its products like chocolate, mints, gummies, and tarts made by its Incredibles brand.

In January 2023, HempMeds Brasil launched two new full-spectrum products. These new products were created to suit the new requirements of Brazilian doctors who intend to suggest it to their patients.

Market Concentration & Characteristics

The U.S. industrial hemp market exhibits a moderately fragmented structure with a mix of established enterprises and a growing number of small-to-mid-sized companies, reflecting an evolving and dynamic competitive landscape. Market concentration remains relatively low, as no single player dominates a significant portion of the market, although a few leading companies such as Curaleaf Holdings, Green Thumb Industries, and Canopy Growth Corporation hold strong positions due to extensive product lines and wider distribution networks. The market is characterized by rapid innovation, increasing vertical integration, and diverse end-use applications ranging from wellness and nutraceuticals to industrial textiles and bio-construction materials. Characteristics such as scalability, regulatory adaptability, and supply chain resilience are becoming key success factors. As the industry matures, consolidation is likely, driven by mergers, acquisitions, and strategic alliances aimed at expanding processing capabilities and meeting rising demand. Overall, the market remains competitive, fast-paced, and highly responsive to regulatory and consumer shifts.

Report Coverage

The research report offers an in-depth analysis based on Type, Source, Application and Geography. It details leading market players, providing an overview of their business, product offerings, investments, revenue streams, and key applications. Additionally, the report includes insights into the competitive environment, SWOT analysis, current market trends, as well as the primary drivers and constraints. Furthermore, it discusses various factors that have driven market expansion in recent years. The report also explores market dynamics, regulatory scenarios, and technological advancements that are shaping the industry. It assesses the impact of external factors and global economic changes on market growth. Lastly, it provides strategic recommendations for new entrants and established companies to navigate the complexities of the market.

Future Outlook

The U.S. industrial hemp market is projected to experience significant growth, driven by increasing demand across various industries, including textiles, construction, and personal care.
Legalization efforts and favorable regulations are expected to facilitate expanded cultivation and processing of industrial hemp, particularly for hemp-derived products.
Advancements in agricultural practices and processing technologies are anticipated to enhance hemp yield and quality, supporting broader industrial applications.
Growing consumer preference for sustainable and eco-friendly products is likely to boost the adoption of hemp-based materials in industries such as textiles and construction.
The increasing popularity of hemp-derived cannabinoids, such as CBD, is expected to continue influencing product development in the wellness and pharmaceutical sectors.
Despite growth opportunities, the industry may face challenges related to regulatory uncertainties and the need for standardized quality control measures.
Expansion of hemp-based construction materials, like hempcrete, is anticipated to contribute to sustainable building practices and carbon footprint reduction.
Collaborations and product launches are expected to present profitable prospects for industry participants in the next five years.
The market is poised for consolidation, with mergers and acquisitions likely as companies strive to strengthen their market positions and expand product portfolios.
Overall, the future outlook for the U.S. industrial hemp market is positive, with substantial opportunities for growth and innovation across multiple sectors.

CHAPTER NO. 1 : INTRODUCTION 17

1.1.1. Report Description 17

Purpose of the Report 17

USP & Key Type 17

1.1.2. Key Benefits for Stakeholders 17

1.1.3. Target Audience 18

1.1.4. Report Scope 18

CHAPTER NO. 2 : EXECUTIVE SUMMARY 19

2.1. Industrial Hemp Market Snapshot 19

2.1.1. U.S. Industrial Hemp Market, 2018 – 2032 (USD Million) 20

CHAPTER NO. 3 : GEOPOLITICAL CRISIS IMPACT ANALYSIS 21

3.1. Russia-Ukraine and Israel-Palestine War Impacts 21

CHAPTER NO. 4 : INDUSTRIAL HEMP MARKET – INDUSTRY ANALYSIS 22

4.1. Introduction 22

4.2. Market Drivers 23

4.2.1. Driving Factor 1 Analysis 23

4.2.2. Driving Factor 2 Analysis 24

4.3. Market Restraints 25

4.3.1. Restraining Factor Analysis 25

4.4. Market Opportunities 26

4.4.1. Market Opportunities Analysis 26

4.5. Porter’s Five Force analysis 27

4.6. Value Chain Analysis 28

4.7. Buying Criteria 29

CHAPTER NO. 5 : ANALYSIS COMPETITIVE LANDSCAPE 30

5.1. Company Market Share Analysis – 2023 30

5.1.1. U.S. Industrial Hemp Market: Company Market Share, by Revenue, 2023 30

5.1.2. U.S. Industrial Hemp Market: Top 6 Company Market Share, by Revenue, 2023 30

5.1.3. U.S. Industrial Hemp Market: Top 3 Company Market Share, by Revenue, 2023 31

5.2. U.S. Industrial Hemp Market Company Revenue Market Share, 2023 32

5.3. Company Assessment Metrics, 2023 33

5.3.1. Stars 33

5.3.2. Emerging Leaders 33

5.3.3. Pervasive Players 33

5.3.4. Participants 33

5.4. Start-ups /Code Assessment Metrics, 2023 33

5.4.1. Progressive Companies 33

5.4.2. Responsive Companies 33

5.4.3. Dynamic Companies 33

5.4.4. Starting Blocks 33

5.5. Strategic Developments 34

5.5.1. Acquisition & Mergers 34

New Product Launch 34

Regional Expansion 34

5.6. Key Players Product Matrix 35

CHAPTER NO. 6 : PESTEL & ADJACENT MARKET ANALYSIS 36

6.1. PESTEL 36

6.1.1. Political Factors 36

6.1.2. Economic Factors 36

6.1.3. Social Factors 36

6.1.4. Technological Factors 36

6.1.5. Environmental Factors 36

6.1.6. Legal Factors 36

6.2. Adjacent Market Analysis 36

CHAPTER NO. 7 : INDUSTRIAL HEMP MARKET – BY TYPE SEGMENT ANALYSIS 37

7.1. Industrial Hemp Market Overview, by Type Segment 37

7.1.1. Industrial Hemp Market Revenue Share, By Type, 2023 & 2032 38

7.1.2. Industrial Hemp Market Attractiveness Analysis, By Type 39

7.1.3. Incremental Revenue Growth Opportunities, by Type, 2024 – 2032 39

7.1.4. Industrial Hemp Market Revenue, By Type, 2018, 2023, 2027 & 2032 40

7.2. Hemp Seed 41

7.3. Hemp Seed Oil 42

7.4. Hemp Fiber 43

7.5. Others 44

CHAPTER NO. 8 : INDUSTRIAL HEMP MARKET – BY SOURCE SEGMENT ANALYSIS 45

8.1. Industrial Hemp Market Overview, by Source Segment 45

8.1.1. Industrial Hemp Market Revenue Share, By Source, 2023 & 2032 46

8.1.2. Industrial Hemp Market Attractiveness Analysis, By Source 47

8.1.3. Incremental Revenue Growth Opportunities, by Source, 2024 – 2032 47

8.1.4. Industrial Hemp Market Revenue, By Source, 2018, 2023, 2027 & 2032 48

8.2. Organic 49

8.3. Conventional 50

CHAPTER NO. 9 : INDUSTRIAL HEMP MARKET – BY APPLICATION SEGMENT ANALYSIS 51

9.1. Industrial Hemp Market Overview, by Application Segment 51

9.1.1. Industrial Hemp Market Revenue Share, By Application, 2023 & 2032 52

9.1.2. Industrial Hemp Market Attractiveness Analysis, By Application 53

9.1.3. Incremental Revenue Growth Opportunities, by Application, 2024 – 2032 53

9.1.4. Industrial Hemp Market Revenue, By Application, 2018, 2023, 2027 & 2032 54

9.2. Food & Beverages 55

9.3. Textile 56

9.4. Pharmaceuticals 57

9.5. Pharmaceuticals 58

9.6. Construction Material 59

9.7. Others 60

CHAPTER NO. 10 : INDUSTRIAL HEMP MARKET – U.S. 61

10.1. U.S. 61

10.1.1. Key Highlights 61

10.2. Type 62

10.3. U.S. Industrial Hemp Market Revenue, By Type, 2018 – 2023 (USD Million) 62

10.4. U.S. Industrial Hemp Market Revenue, By Type, 2024 – 2032 (USD Million) 62

10.5. Source 63

10.6. U.S. Industrial Hemp Market Revenue, By Source, 2018 – 2023 (USD Million) 63

10.6.1. U.S. Industrial Hemp Market Revenue, By Source, 2024 – 2032 (USD Million) 63

10.7. Application 64

10.8. U.S. Industrial Hemp Market Revenue, By Application, 2018 – 2023 (USD Million) 64

10.8.1. U.S. Industrial Hemp Market Revenue, By Application, 2024 – 2032 (USD Million) 64

CHAPTER NO. 11 : COMPANY PROFILES 65

11.1. Curaleaf Holdings, Inc. 65

11.1.1. Company Overview 65

11.1.2. Product Portfolio 65

11.1.3. Swot Analysis 65

11.1.4. Business Strategy 66

11.1.5. Financial Overview 66

11.2. Green Thumb Industries 67

11.3. Canopy Gowth Corporation 67

11.4. GenCanna 67

11.5. IND HEMP 67

11.6. Hemp Inc 67

11.7. Marijuana Company Of America Inc 67

11.8. American Hemp LLC 67

11.9. Green Field Paper Company 67

11.10. Hemp Horizon 67

11.11. Rawganic 67

11.12. Company 12 67

11.13. Company 13 67

11.14. Company 14 67

11.15. Others 67

]

List of Figures

FIG NO. 1. U.S. Industrial Hemp Market Revenue, 2018 – 2032 (USD Million) 20

FIG NO. 2. Porter’s Five Forces Analysis for U.S. Industrial Hemp Market 27

FIG NO. 3. Value Chain Analysis for U.S. Industrial Hemp Market 28

FIG NO. 4. Company Share Analysis, 2023 30

FIG NO. 5. Company Share Analysis, 2023 30

FIG NO. 6. Company Share Analysis, 2023 31

FIG NO. 7. Industrial Hemp Market – Company Revenue Market Share, 2023 32

FIG NO. 8. Industrial Hemp Market Revenue Share, By Type, 2023 & 2032 38

FIG NO. 9. Market Attractiveness Analysis, By Type 39

FIG NO. 10. Incremental Revenue Growth Opportunities by Type, 2024 – 2032 39

FIG NO. 11. Industrial Hemp Market Revenue, By Type, 2018, 2023, 2027 & 2032 40

FIG NO. 12. U.S. Industrial Hemp Market for Hemp Seed, Revenue (USD Million) 2018 – 2032 41

FIG NO. 13. U.S. Industrial Hemp Market for Hemp Seed Oil, Revenue (USD Million) 2018 – 2032 42

FIG NO. 14. U.S. Industrial Hemp Market for Hemp Fiber, Revenue (USD Million) 2018 – 2032 43

FIG NO. 15. U.S. Industrial Hemp Market for Others, Revenue (USD Million) 2018 – 2032 44

FIG NO. 16. Industrial Hemp Market Revenue Share, By Source, 2023 & 2032 46

FIG NO. 17. Market Attractiveness Analysis, By Source 47

FIG NO. 18. Incremental Revenue Growth Opportunities by Source, 2024 – 2032 47

FIG NO. 19. Industrial Hemp Market Revenue, By Source, 2018, 2023, 2027 & 2032 48

FIG NO. 20. U.S. Industrial Hemp Market for Organic, Revenue (USD Million) 2018 – 2032 49

FIG NO. 21. U.S. Industrial Hemp Market for Conventional, Revenue (USD Million) 2018 – 2032 50

FIG NO. 22. Industrial Hemp Market Revenue Share, By Application, 2023 & 2032 52

FIG NO. 23. Market Attractiveness Analysis, By Application 53

FIG NO. 24. Incremental Revenue Growth Opportunities by Application, 2024 – 2032 53

FIG NO. 25. Industrial Hemp Market Revenue, By Application, 2018, 2023, 2027 & 2032 54

FIG NO. 26. U.S. Industrial Hemp Market for Food & Beverages, Revenue (USD Million) 2018 – 2032 55

FIG NO. 27. U.S. Industrial Hemp Market for Textile, Revenue (USD Million) 2018 – 2032 56

FIG NO. 28. U.S. Industrial Hemp Market for Pharmaceuticals, Revenue (USD Million) 2018 – 2032 57

FIG NO. 29. U.S. Industrial Hemp Market for Pharmaceuticals, Revenue (USD Million) 2018 – 2032 58

FIG NO. 30. U.S. Industrial Hemp Market for Construction Material, Revenue (USD Million) 2018 – 2032 59

FIG NO. 31. U.S. Industrial Hemp Market for Others, Revenue (USD Million) 2018 – 2032 60

FIG NO. 32. U.S. Industrial Hemp Market Revenue, 2018 – 2032 (USD Million) 61

List of Tables

TABLE NO. 1. : U.S. Industrial Hemp Market: Snapshot 19

TABLE NO. 2. : Drivers for the Industrial Hemp Market: Impact Analysis 23

TABLE NO. 3. : Restraints for the Industrial Hemp Market: Impact Analysis 25

TABLE NO. 4. : U.S. Industrial Hemp Market Revenue, By Type, 2018 – 2023 (USD Million) 62

TABLE NO. 5. : U.S. Industrial Hemp Market Revenue, By Type, 2024 – 2032 (USD Million) 62

TABLE NO. 6. : U.S. Industrial Hemp Market Revenue, By Source, 2018 – 2023 (USD Million) 63

TABLE NO. 7. : U.S. Industrial Hemp Market Revenue, By Source, 2024 – 2032 (USD Million) 63

TABLE NO. 8. : U.S. Industrial Hemp Market Revenue, By Application, 2018 – 2023 (USD Million) 64

TABLE NO. 9. : U.S. Industrial Hemp Market Revenue, By Application, 2024 – 2032 (USD Million) 64

Frequently Asked Questions

What is the current size of the U.S. Industrial Hemp market?

The U.S. industrial hemp market was valued at USD 2,328.89 million in 2023 and is expected to reach USD 13,756.51 million by 2032, growing at a CAGR of 21.8%.

What factors are driving the growth of the U.S. Industrial Hemp market?

Growth is driven by the 2018 Farm Bill legalization, rising demand for sustainable products, expanding CBD use, and innovations in processing and cultivation.

What are the key segments within the U.S. Industrial Hemp market?

Key segments include hemp seed, hemp seed oil, hemp fiber, and others, across both organic and conventional sources, with applications in food, textiles, pharmaceuticals, and construction.

Who are the major players in the U.S. Industrial Hemp market?

Major players include Curaleaf Holdings, Inc., Green Thumb Industries, Canopy Growth Corporation, GenCanna, and IND HEMP.

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