LAS VEGAS, June 22, 2021 (GLOBE NEWSWIRE) — via NewMediaWire — Hemp, Inc. (OTC PINK: HEMP), a leader in the industrial hemp market, was one of a select group of companies across the globe named in a new Dublin, Ireland-based Research and Markets report, “Industrial Hemp – Global Market Trajectory & Analytics.”
Hemp, Inc. was one of 36 companies selected for analysis in the comprehensive 285-page report announced June 14, 2021 and gives international confirmation of Hemp, Inc.’s leadership in the marketplace.
The U.S. market is estimated at $1.4 billion in 2020, according to the report. Other sources estimate the global hemp market in 2020 at $5.3 billion and is projected to grow to $13.8 billion by 2027 for a CAGR of 14.6%.
Products analyzed by Research and Markets in the new report include:
- Hemp seed (includes whole hemp seed, hulled hemp seed, hemp seed oil, hemp protein powder and similar food, cosmetic and pharmaceutical products)
- Hemp fiber (used for textiles, building materials, paper, rope, etc.)
- Hemp shives (frequently utilized for animal bedding and mulch)
All three of these segments are predicted to see growth through 2027, with hemp seed expected to reach $8.9 billion by 2027 for a 15.3% CAGR and hemp fiber products were projected to show a 13.5% CAGR, and the hemp shives market is anticipated to show a 12% CAGR.
Hemp, Inc. has the largest industrial multipurpose hemp processing facility in North America, an 85,000-square foot…