Industrial Hemp Market Global Industry Analysis and Forecast (2024-2032)

Industrial Hemp Market Size Was Valued at USD 6.35 Billion in 2023 and is Projected to Reach USD 32.27 Billion by 2032, Growing at a CAGR of 19.8% From 2024-2032. Industrial Hemp plant is a stout, annual, aromatic herb cultivated for its best fibre and edible seeds. The plant is strong, tough, and long-lasting and is mostly used for cordage, e.g., twine, rope, yarn, cable, string, and artificial sponges. Numerous goods, including insulation and building materials, paper, textiles, fibreglass, nutraceuticals, personal care items, bio-plastics, and biofuel are processed from industrial hemp.