Axiom MRC has updated all it's market research reports with the Economic Impact Analysis of COVID19 Pandemic on the market. Our team of analyst are following Comprehensive Three Dimensional (3D) Research Methodology along with large number primary interviews with key industry participants to bring insightful market reports to meet the current market requirements.
Hemp is potentially crop which is widely suitable into sustainable farming systems. Increasing interest in new fibre crop is growing the demand for hemp derivatives market. Also, innovative application of hemp in renewable raw materials like oils from seeds and essential oils or secondary metabolites from inflorescences for food, cosmetic or pharmaceutical industry straw and hurds for the building industry and for energy production is expected to fuel the growth of the hemp derivatives market.Hemp derivatives with antibacterial and chelating properties thereb driving the growth of hemp derivatives market.
The key factors driving the growth of hemp derivatives market is increase in demand for health-related products providing potential opportunities to market to innovate new products. Besides rising awareness regarding the benefits of hemp consumption is driving the growth of market. Surging demand for hemp derivatives in several application industries and functional properties of hemp seed and hemp seed oil, and their increased use in different food applications is further propelling the demand for the market.
The exclusive COVID 19 impact analysis report by Axiom MRC provides a 3600 analysis of micro and macro-economic factors on the hemp derivatives market. In addition, complete analysis of changes on the hemp derivatives market expenditure, economic and international policies on supply and demand side. The report also studies the impact of pandemic on global economies, international trade, business investments, GDP and marketing strategies of key players present in the market. COVID-19 impact was moderate on the hemp derivatives market as the pandemic had led to stop the major production and supply of hemp derivatives for months thereby having sale in market.
The hemp derivatives market is segmented based on by type, source, application and geography
The hemp derivatives is made according to different types like hemp oil, hemp-derived cbd oil, hemp fiber, hemp flour.Hemp fiber dominated in the global hemp derivatives market. The growth of segment is due to increasing use in various application and industry. The common features of natural fibers along with inherent mechanical, thermal, and acoustic properties of hemp fibers make them beneficial for reinforcements in polymer composite materials and major use in construction, animal husbandry, automotive, agriculture, and textile. In addition these hemp derivative can be major used as biodegradable plastic which is ultimately fueling the demand for the market. Whereas CBD hemp oil is expected to be the fastest-growing segment as it has major role for treatment of anxiety, depression, pain, and acne and others.
The hemp derivatives is available in market by source like organic and conventional. The conventional dominate in the hemp derivatives market due to their low price as compared to organic source. Further increasing application is expected to drive the market in the upcoming years.
The hemp derivatives finds its major application in food & beverages, pharmaceuticals, personal care, industrial. Food & beverages is bifurcated to bakery, diary & frozen desserts, snacks & cereals, soup, sauces, and seasonings. Food & beverages is projected to witness the fastest growth owing to excellent source of nutrition. Hemp derivatives are widely used in various food & beverage applications. In particular, these hemp provides the healing properties of hempseed and can be attributed to high levels of EFAs and other PUFAs in the oil. Besides, pharmaceuticals is anticipated to witness lucrative opportunities owing to treat various conditions where hemp oil and hemp-derived cbd oil are both widely used in pharmaceutical. Also, in personal care the hemp derivative is expected to have significant growth.
Geographically the global hemp derivatives market is studied for the following region North America, Europe, Asia-Pacific and Rest of the world (RoW). Asia Pacific is expected to witness the fastest growth during forecast period accounting for the largest share in the global hemp derivatives market. The growth is due to increasing usage in different industrial sector for various application. Besides, use of hemp for personal care and cosmetics products in region and legalization of industrial hemp in food supplements is driving the market growth. On the other hand Europe is anticipated to grow at highest CAGR attributing to increasing application in other food products such as smoothies, yogurt, cereals, and bars, especially in countries such as Germany and the Netherlands. Also, rising awareness among consumers about the nutritional benefits of consuming hemp is further expected to fuel the demand in the region thereby driving the growth of hemp derivatives market. Also, North America is anticipated to have significant growth during the forecast period owing to top importers of hemp in the world due to the increasing demand for hemp derivatives in the country.
The key players in hemp derivatives market are Dun Agro, Canah International , Plains Industrial Hemp Processing, MH Medical Hemp, Bafa Neu GmbH , BevCanna Enterprises Inc., Canopy Growth, Canopy Growth Corporation, Colorado Hemp Works, LLC, Dutch Hemp Group, Ecofibre , GenCanna Global USA, Inc. , Hemp Oil Canada, Hempco Inc. , HempFlax Group B.V. , HemPoland , HEXO Corp., iAnthus Capital Holdings, Inc., Konoplex LLC , MediPharm Labs Corp., MH Medical Hemp GmbH , OrganiGram Holdings, The Cronos Group, The Green Organic Dutchman and The Valens Company among others.
October 2020: - Hemp, Inc. had announced the launch of a new cannabidiol (CBD) product called Diamonds under the King of Hemp product line. Hemp, Inc.’s Diamonds, a dabbable CBD product, is derived from a golden-hued high CBD, THC-free distillate taken directly from the hemp plant that includes blends of valuable terpenes. Diamonds promise to deliver the strongest, most potent effects of any other product from the line containing between 92% and 98.7% pure CBD.
April 2020: India’s first ayurvedic cannabis R&D-to-retail firm Hemp Street is set to launch its first set of products. The company has been partnering with Indian government research body, the Council of Scientific & Industrial Research (CSIR) in developing scientifically backed products that combine cannabis and Ayurveda formulations. At present, cannabis and CBD-based Nutraceuticals are illegal in India, but there has been scope for research and product development in the Ayurveda medicine space.
The report analyses the hemp derivatives market based on by type, source, application and geography. The hemp derivatives is made according to different types like hemp oil, hemp-derived cbd oil, hemp fiber, hemp flour. The hemp derivatives is available in market by source like organic and conventional. The hemp derivatives finds its major application in food & beverages, pharmaceuticals, personal care, industrial. Geographically the global hemp derivatives market is studied for the following region North America, Europe, Asia-Pacific and Rest of the world (RoW).
The key players in hemp derivatives market are Dun Agro, Canah International , Plains Industrial Hemp Processing, MH Medical Hemp, Bafa Neu GmbH , BevCanna Enterprises Inc., Canopy Growth, Canopy Growth Corporation, Colorado Hemp Works, LLC, Dutch Hemp Group, Ecofibre , GenCanna Global USA, Inc. , Hemp Oil Canada, Hempco Inc. , HempFlax Group B.V. , HemPoland , HEXO Corp., iAnthus Capital Holdings, Inc., Konoplex LLC , MediPharm Labs Corp., MH Medical Hemp GmbH , OrganiGram Holdings, The Cronos Group, The Green Organic Dutchman and The Valens Company among others.
Why to buy this report:
