Hemp-Based Products Market is expected to drive industry expansion in the near future at a CAGR of 18.20% during the forecast period 2023 to 2032.

Market Research Future (MRFR) has published a cooked research report on the “Global Hemp-Based Products Market” that contains information from 2018 to 2032. The Hemp-Based Products market is estimated to register a CAGR of 18.20% during the forecast period of 2023 to 2032.

MRFR recognizes the following companies as the key players in the global Hemp-Based Products market— Hempfoods Ltd., Tilray, Inc., GFR Ingredients, Hemp Foods Australia Pty Ltd, Aurora Cannabis Inc., Naturally Splendid Enterprises Ltd., Isodiol International Inc, Navitas LLC, Nutiva, T12 Holdings Pty Ltd.

Market Highlights

The global Hemp-Based Products market is accounted to register a CAGR of 18.20% during the forecast period and is estimated to reach USD 11.25 billion by 2032.

Consumers are seeking eco-friendly and health-conscious products, and hemp, as a versatile and sustainable crop, aligns with these preferences. Simultaneously, the relaxation of legal and regulatory restrictions on hemp cultivation and production has opened new opportunities, allowing companies to tap into this versatile plant's potential. With applications ranging from food and personal care products to textiles and industrial materials, hemp-based products are well-positioned to cater to the growing market demand for sustainable alternatives across multiple sectors.

Segment Analysis

The global Hemp-Based Products market has been segmented based on type, end use and distribution channel.

On the basis of type, the market is segmented into Food Products, Hemp CBD, Personal Care Products, Industrial Products, Food Supplements, Consumer Textiles and Others. The food products segment was attributed to holding the largest market share in 2022 as the hemp seeds and hemp derived ingredients are widely used in different food items.

Based on end use, the global Hemp-Based Products market has been segmented into Residential, Commercial and Industrial. The industrial segment was expected to hold the largest market share in 2022 as it is broadly used in different industrial applications.

Based on distribution channel, the global Hemp-Based Products market has been segmented into Online and Offline. The offline segment was expected to hold the largest market share in 2022 the importance of consumer education and interaction with these products.

Regional Analysis

The global Hemp-Based Products market, based on region, has been divided into the North America, Europe, Asia-Pacific, and Rest of the World. North America consists of US and Canada. The Europe Hemp-Based Products market comprises of Germany, France, the UK, Italy, Spain, and the rest of Europe. The Hemp-Based Products market in Asia-Pacific has been segmented into China, India, Japan, Australia, South Korea, and the rest of Asia-Pacific. The Rest of the World Hemp-Based Products market comprises of Middle East, Africa, and Latin America.

The largest market share for Hemp-Based Products was maintained by the North American regional sector. This increase is attributed to the growing acceptance and legalization of hemp cultivation, which has led to an expanded supply chain for various hemp-derived products. Additionally, increasing consumer awareness and demand for natural and sustainable alternatives across various industries, including food, textiles, and wellness products, have fueled the adoption of hemp-based goods, positioning North America as a prominent market for these versatile products.

Moreover, the Europe market has been persistently growing over the forecast period. The demand for Hemp-Based Products is driven by the increasing recognition of hemp's sustainability, versatility, and its role in environmental conservation, as it can be used in a wide range of industries, including textiles, construction, food, and health products, aligning with the region's focus on sustainability and eco-friendly practices.

Additionally, the market for hemp-based products in the Asia Pacific is primarily driven by the increasing awareness of the potential health benefits of hemp-derived ingredients, including CBD, and the region's growing demand for natural and sustainable alternatives in various industries, such as food, personal care, and textiles. Consumers in the Asia Pacific region are increasingly seeking natural and eco-friendly options, and hemp-based products align with these preferences, driving the market's growth across multiple sectors.

Furthermore, the rest of the world's Hemp-Based Products market is divided into the Middle East, Africa, and Latin America. This growth is attributed to the increasing recognition of the versatile applications of hemp, coupled with growing consumer awareness of its nutritional and environmental benefits, leading to a rising demand for hemp-derived products in the region.

Key Findings of the Study

• The global Hemp-Based Products market is expected to reach USD 11.25 billion by 2032, at a CAGR of 18.20% during the forecast period.


• The Asia-Pacific region accounted for the fastest-growing global market due to the increasing demand for natural and sustainable alternatives in different industries, and the rising awareness of the potential health benefits of hemp-derived ingredients.


• Based on type, the food products segment was attributed to holding the largest market in 2022, with an approximate market share of 45–65%.


• Hempfoods Ltd., Tilray, Inc., GFR Ingredients, Hemp Foods Australia Pty Ltd, Aurora Cannabis Inc., Naturally Splendid Enterprises Ltd., Isodiol International Inc, Navitas LLC, Nutiva, T12 Holdings Pty Ltd.