Dublin, March 27, 2020 (GLOBE NEWSWIRE) -- The "US Hemp Derivatives Market to 2027 - Country Analysis and Forecasts by Type; Application" report has been added to ResearchAndMarkets.com's offering.
The US hemp derivatives market was valued at US$ 1,403.5 million in 2018, and it is expected to grow at a CAGR of 23.7% during the forecast period 2019-2027 to reach US$ 7,056.4 million by 2027.
Increasing consumer awareness regarding the nutritional benefits related to hemp derivatives and growing cultivation of industrial hemp has driven the growth of US hemp derivatives market. Hemp derivatives such as CBD, seed oil, fibers etc. find vast applications in several end-use industries such as food and beverage, pharmaceuticals, personal care, animal feed, and others, which is further driving the demand of the market. The trend of hemp-based food and beverages is gaining popularity in the US thus manufacturers are investing heavily in this market.
Based on the type, the US hemp derivatives market has been segmented into hemp-derived CBD, hemp fibers, hemp seed oil, and others. In 2018, Hemp-Derived CBD have led the US hemp derivatives market.
Cannabidiol (CBD) is a compound extracted from the leaves, stalks, and flowers of the hemp plant. Due to the low presence of THC (0.3%), an intoxicating compound that is present in marijuana, hemp can be utilized for extracting CBD, which in turn can be infused into various pharmaceutical products and supplements. Hemp-derived CBD provides broad-spectrum nutrition, offering a complex biochemical matrix of many constituents working synergistically. These compounds include phytocannabinoids, essential fatty acids, terpenes, plant sterols, chlorophyll, and vitamin E.
CBD is a popular natural remedy used for many common diseases due to the absence of psychoactive effects. It is promoted as a treatment for a range of conditions, including epileptic seizures, post-traumatic stress disorder, anxiety and depression, diabetes prevention, alleviation of cancer symptoms, and inflammation. It is also utilized in a range of consumer products such as food and beverages (syrups and gummies) and dietary supplements (pills and capsules). Increasing demand for CBD-infused products such as dietary supplements and other pharmaceutical products among the consumer is expected to drive the growth of hemp-derived CBD during the forecast period.
The US hemp derivatives market has witnessed a significant growth owing to factors such as increasing consumer awareness regarding the nutritional benefits related to hemp derivatives and growing cultivation of industrial hemp. The hemp derivatives find its applications in several end-use industries such as food and beverage, pharmaceuticals, personal care, and animal feed, which is further driving the demand of the market. Significant growth in the demand for hemp-based food products in US is also adding inputs to the growth of the US hemp derivatives market. However, the hemp derivatives market in the US is highly depend upon the imports from another country such as Canada, China and European countries (France, Germany, Hungary, Italy). Nevertheless, with the growing demand for hemp derivatives form personal care and food & beverages industries, market players have the opportunity to invest in this market.
Canada Hemp Foods Ltd, Colorado Hemp Works, LLC, Hempco Food and Fiber Inc., Z-Company BV, Bell Flavors & Fragrances Inc., Neptune Wellness Solutions, Inc., Radient Technologies, Aurora Cannabis Inc., Re Botanicals, Inc., Aphria Inc.are amongst the key market players operating in the US hemp derivatives market.
Reasons to Buy
- Highlights key business priorities in order to assist companies to realign their business strategies.
- The key findings and recommendations highlight crucial progressive industry trends in the US hemp derivatives, thereby allowing players to develop effective long term strategies.
- Develop/modify business expansion plans by using substantial growth offering developed and emerging markets.
- Scrutinize in-depth the market trends and outlook coupled with the factors driving the market, as well as those hindering it.
- Enhance the decision-making process by understanding the strategies that underpin commercial interest with respect to products, segmentation and industry verticals.
Key Topics Covered
1.1 Scope of the Study
1.2 Report Guidance
1.3 Market Segmentation
1.3.1 US Hemp Derivatives Market, by Type
1.3.2 US Hemp Derivatives Market, by Application
2. Key Takeaways
3. Research Methodology
3.2 Secondary Research
3.3 Primary Research
4. US Hemp Derivatives Market - Key Industry Dynamics
4.1.1 Growing Demand for Hemp Derivatives from Several End-use Industries
4.1.2 Legalization in Cultivation of Hemp
4.2.1 High Dependence on Imports of Hemp as a Raw Material
4.3.1 Growth of Food and Beverage Industry
4.4.1 Adoption of Hemp Derivatives by Cosmetic Industry
4.5 Impact Analysis of Drivers and Restraints
5. US Hemp Derivatives - Market Analysis
5.1 US Hemp Derivatives Market Overview
5.2 US Hemp Derivatives Market Forecast and Analysis
5.3 Market Positioning - Key Market Players
6. US Hemp Derivatives Market - By Type
6.2 US Hemp Derivatives Market Revenue Share, By Type (2018 and 2027)
6.3 Hemp-Derived CBD
6.4 Hemp Seed Oil
6.5 Hemp Fiber
7. US Hemp Derivatives Market - By Application
7.2 US Hemp Derivatives Market Revenue Share, by Application (2018 and 2027)
7.3 Food & Beverages
7.5 Personal Care
8. Company Profiles
8.1 Colorado Hemp Works, LLC
8.2 Hempco Food and Fiber Inc. (Hempco Canada Superfoods)
8.3 Bell Flavors & Fragrances Inc.
8.4 Canada Hemp Foods Ltd.
8.5 Z-Company B.V.
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