The global market for hemp-based products is expected to account for a value of US$ 1.8 billion in 2023 and jump to a size of US$ 16.2 billion by the end of 2033. Sales of hemp-based products are projected to skyrocket at a CAGR of 24.5% from 2023 to 2033.

Fact.MR, in its latest business intelligence study, depicts the nuts and bolts of the global Hemp-based Products Market. The report presents detailed information regarding the drivers, restraints, opportunities and trends affecting market growth.

Each segment along with its sub-segment is analyzed in terms of value and volume. Further, the report elaborates the market behavior of each vendor operating in the Hemp-based Products market.

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Key findings of the Hemp-based Products market study:

•          Regional breakdown of the Hemp-based Products market based on predefined taxonomy.
•          Innovative manufacturing processes implemented by Hemp-based Products vendors in detail.
•          Region-wise and country-wise fragmentation of the Hemp-based Products market to grasp the revenue, and growth outlook in these areas.
•          Changing preferences among consumers across various regions and countries.
•          Factors (Positive and Negative) impacting the growth of the global Hemp-based Products market.

Key Companies Profiled

• Hempro International
• Tilray Inc.
• GFR Ingredients
• Blue Sky Hemp Ventures Ltd.
• Hemp Foods Australia Pty Ltd.
• Aurora Cannabis Inc.
• Marijuana Company of America Inc.
• Naturally Splendid Enterprises Ltd.
• Isodiol International Inc.
• Green Source Organics
• Hempfoods Ltd.
• Navitas LLC
• Nutiva
• T12 Holdings Pty Ltd.

Competitive Landscape

Key hemp-based product companies are expected to expand their hemp product portfolio to gain a competitive edge over other market players and diversify their offerings to different regions where hemp and marijuana are being legalized.

• In August 2022, BioLife Sciences Inc., a leading name in disruptive technologies for healthcare, beauty, food & beverage sectors announced the launch of its first cannabinoid consumer products. The company offered six definite industrial hemp-based tincture formulations that were driven by the acquisition of Health Box LLC in early 2022.
• In August 2022, TagZ Foods, a snack food company in India announced the launch of hemp-based cookies as a part of its aggressively increasing product offerings. The products are available on Swiggy Instamart and the company’s portal for sales.

Key Segments of Hemp-based Products Industry Research

• By Product :
  • Food
    • Beverages
    • Edibles
  • Health Care
    • Hemp Oil
    • Medicinal Drugs
    • Supplements & Protein
  • Cosmetics, Personal & Skin Care
  • Fibers
    • Raw Fibers
    • Fiber-reinforced plastic
  • Others
• By Application :
  • Personal
  • Industrial
• By Sales Channel :
  • Offline
  • Online
• By Region :
  • North America
  • Latin America
  • Europe
  • APAC
  • MEA

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Queries addressed in the Hemp-based Products market report:

•          Why are the Hemp-based Products market players targeting region for increased product sales?
•          What patented technologies are the players utilizing in the global Hemp-based Products market?
•          Which regions are displaying the fastest growth in the Hemp-based Products market?
•          What are the underlying micro- macroeconomic factors affecting the global Hemp-based Products market?

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