Global Hemp Market

Posted on 30 January, 2022 by Micheal Alexander

These days, at least 70 countries cultivate hemp for commercial or research purposes. The largest producers of hemp are currently USA, China, Canada, France and Chile. Hemp acreage in North America and the European Union countries reached record levels in 2020, over 360,000 acres and about 135,000 acres respectively, which put global acreage at about 675,000 acres.

Production in EU was centered in France (35,944 acres), Lithuania (22,550 acres), Germany (11,140 acres), Estonia (11,003 acres), Romania (7,691 acres), Italy (4,940 acres) and the Netherlands (4,636 acres). Many EU countries lifted their bans on hemp production in the 1990s and, until recently, also subsidized the production of “flax and hemp” under the EU’s Common Agricultural Policy. Most EU production is of hurds, seeds, fibers, and pharmaceuticals. Hemp cultivation extraction manufacturing

China – the world’s largest hemp fiber and seed producer – planted more than 160,000 acres of hemp.

FAS data also report hemp production in Columbia, Ecuador, Chile, Iran, Japan, South and North Korea, Pakistan, Russia, Syria, and Turkey. Other countries with active hemp grower and/or consumer markets are New Zealand, India, Egypt, South Africa, Thailand, Malawi, and Uruguay.

According to marketing analysis reports by Grand View Research, the global hemp market size was valued at $4.13 billion in 2021 up from $3.61 billion in 2020, and is expected to grow at a compound annual growth rate of 16.2% to $12.01 billion by 2028. Hemp CBD financial model

Cannabidiol (CBD) is one of the numerous compounds found in the cannabis plant. CBD oil can be obtained from two different species of cannabinoids: marijuana and hemp, which come from the same plant species called Cannabis sativa. Hemp-based CBD oil products have a lower delta-9 tetrahydrocannabinol (THC) concentration, while marijuana-derived CBD oil products have a relatively high concentration of THC.