(Entertainment-NewsWire.com, October 12, 2023 ) As per Maximize Market research, the Hemp-based Products Market was USD 2.80 Billion in 2022 and is expected to grow at a CAGR of 18 percent over the forecast period to reach USD 8.92 Billion by 2029.
Hemp-based Products Market Scope and Research Methodology
The report on Hemp-based Products Market covers an in-depth analysis of the report. It includes market dynamics that includes the drivers, restraints, challenges and growth opportunities in the market. The report also includes a thorough competitive landscape that includes key players and new entrants to give a detailed understanding of the market. For the analysis, SWOT, PESTLE and Porter’s Five Force analysis was conducted to grasp the various factors affecting the market.
Consumer awareness regarding the health benefits associated with hemp is expected to be a major driver for the growth of the market. Increasing use in natural therapies has made it an alternative to synthetic drugs given its natural effectiveness.
Hemp-based Products Market Regional Insights
North America dominated the Hemp-based Products Market in 2022 and is expected to continue with the growth streak over the forecast period. Europe is expected to be the second largest region to dominate the market.
Maximize Market Research is leading Food and Beverages research firm, has also published the following reports:
Hemp Seeds Market - The market size is expected to reach USD 1926.9 Mn. by 2029 at a CAGR of 6.9 percent during the forecast period.
Hemp-based Food Market - The market size is expected to reach USD 8.09 Bn. by 2029 at a CAGR of 5.5 percent during the forecast period.
About Maximize Market Research:
Maximize Market Research provides B2B and B2C research on 6,500 high-growth emerging opportunities and technologies as well as threats to the companies across the Healthcare, Pharmaceuticals, Electronics and communications, Internet of Things, Food and Beverages, Aerospace and defense, and other manufacturing sectors.
