The Hemp Market

Date: 08/05/2017

Hemp Market Facts for North America: 

  • 55,700 m.tons of industrial hemp is produced around the world each year.
  • Canada had 38,828 licensed acres of industrial hemp in the year 2011. 
  • More than $10 million worth of hemp seed and hemp products were exported, with most going to the U.S.
  • The U.S. market is the biggest and large dependent on Hemp imports. Finished hemp-containing products and as ingredients for use in further processing.
  • It is estimated that mroe than 30 nations are growing industrial hemp as an agricultural commodity.
  • The United States is considered the only industrialized nation that does not allow industrial hemp production. Current industry estimates report that U.S. retail sales of all hemp-based products may exceed $300 million per year.

 

US Hemp Market Size:

 

No confirmed market stats and estimates are available for the value of U.S. sales of hemp-based products. According to Hemp Industries Association (HIA) estimation, the total U.S. retail value of hemp products in 2013 was $581 million, which includes food and body products, clothing, auto parts, building materials and other products. Of this, the value of hemp-based food, supplements, and body care sales in the United States totaled $184mn. Previous reports about the size of the U.S. market for hemp clothing and textiles are estimated at about $100mn annually.

 

Hemp Growing Countries: 

 

According to initial stats around 30 countries in Europe, Asia, and North and South America are currently permitting farmers to grow hemp. Some of these countries never outlawed production, while some countries banned production for certain periods in the past. 

China is considered among the largest producing and exporting countries of hemp textiles and related products, as well as a major supplier of these Hemp products to the United States of America. 

The European Union (EU) has an active hemp market, with production in most member nations. Production is centered in France, the United Kingdom, Romania, and Hungary. Mostly hemp production is of hurds, seeds, and fibers. Other non-EU European countries with reported hemp production include: 

Russia

Ukraine

Switzerland

Other countries with active hemp grower and/or consumer markets are Australia, New Zealand, India, Japan, Korea, Turkey, Egypt, Chile, and Thailand.

 

For more detailed and updated analysis on Hemp Market, contact our market research team.