According to the latest market study on “Hemp derivatives market Forecast to 2028 – Impact of COVID-19 and Global Analysis – By Type (Hemp Oil, Hemp Seed Oil, Hemp Fiber, etc.) and Application (Food & Beverage, Pharmaceuticals, Nutrients, Personal Care, Textiles, etc.), “The market was valued at $5,953.86 million in 2021 and from It is expected to reach USD 20,977.94 Million by 2028; it is expected to grow at a CAGR of 19.7% from 2021 to 2028. The report highlights the major driving factors and prominent market players along with the developments in the market.
Get exclusive page templates from the cannabis-derived market in https://www.theinsightpartners.com/sample/TIPRE00007654/
Hemp Derivatives Market: Competitive Landscape and Key Developments
Hemp or industrial hemp is a variety of types of cannabis plants, which are grown specifically for industrial use. Hemp derivatives, such as CBD, seed oil, and fiber, are derived from hemp and have various applications in many end-use industries, such as food, beverage, pharmaceutical, personal care, and animal feed.
Impact of the COVID-19 pandemic on the cannabis derivatives market
The COVID-19 pandemic has negatively impacted many industries due to lockdowns, travel bans, shutdowns of manufacturing units and shortages of supplies. The food and beverage industry has faced operational difficulties caused by supply chain disruptions, labor shortages and raw material supply shortages. Furthermore, cannabis derivative prices have fallen significantly as there has been a drop in demand from various industries, such as food, beverage and personal care. This factor also affected the profitability of market players and farmers involved in the cultivation of cannabis derivative. Hence, the COVID-19 pandemic has significantly affected the growth of the global cannabis derivatives market. However, as governments of various countries have introduced easing restrictions and raising vaccination rates, the food and beverage industry is recovering from its losses. The demand for cannabis derivative is expected to grow during the forecast period.
Talk to Analyst for more details: https://www.theinsightpartners.com/speak-to-analyst/TIPRE00007654
write insights
Based on type, the hemp derivatives market is segmented into CBD hemp oil, seed oil, hemp fiber, and others. The hemp fiber segment occupied the largest market share in 2021. Hemp is a plant of bark fibers such as jute, kenaf, and flax. These fibers are now used as reinforcements in composites due to their lower biodegradability and density than synthetic fibers. Hemp fibers conduct heat, resist mildew, color well, block ultraviolet rays, and have natural antibacterial properties.
Insight app
The Personal Care segment is the fastest growing segment of the global cannabis derivatives market during the forecast period. Hemp derivatives have various applications in the personal care and cosmetics industry which includes their use in the manufacture of soap, cream, oil, lip balm, shampoo, among others. Derivatives such as hemp seeds are rich in alpha-linolenic acid (omega-3) and linoleic acid (omega-6) along with hemp oil –
It has a high and balanced content of fatty acids which makes it an ideal ingredient for beauty care products. Hemp oil is used in cosmetics as it can penetrate the layers of the skin to promote cell growth. Hemp seeds are also used to repair and moisturize dry and damaged skin as well as support healthy hair and nails. Hemp oil is an effective moisturizer that can provide the skin with a barrier to pollutants and can relieve muscle soreness.
Order a copy of the Cannabis Derivatives Market, Its Strategies, And Forecast for 2020-2028 Research Report at https://www.theinsightpartners.com/buy/TIPRE00007654/
about us:
Insight Partners is a single provider of industry research for action intelligence. We assist our clients in obtaining solutions to their research requirements through joint research and advisory services. We specialize in industries such as semiconductors and electronics, aerospace and defense, automotive and transportation, biotechnology, healthcare information technology, manufacturing and construction, medical devices, technology, media and communications, and chemicals and materials.
call us:
If you have any questions about this report or if you would like more information, please contact us:
Contact Person: Sameer Joshi
email: [email protected]
Telephone: +1-646-491-9876
