The global industrial hemp market was valued at USD 8.16 billion in 2024 and is expected to reach USD 37.53 billion by 2032
During the forecast period of 2025 to 2032 the market is likely to grow at a CAGR of 21.02%, primarily driven by the growing demand for hemp-based products in industries such as textiles, construction, and pharmaceuticals
This growth is driven by factors such as increasing consumer awareness about sustainable products, regulatory support for hemp cultivation, and advancements in hemp processing technologies
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