LONDON–()–The industrial hemp market is predicted to develop by $3.35 bn throughout 2020-2024, in keeping with Technavio. The report provides an in depth evaluation of the affect of COVID-19 pandemic on the industrial hemp market in optimistic, possible, and pessimistic forecast eventualities.

Enterprises will undergo Response, Recovery, and Renew phases. Download a Free Sample Report on COVID-19

The industrial hemp market will witness Neutral affect throughout the forecast interval owing to the widespread progress of the COVID-19 pandemic. As per Technavio’s pandemic-focused market analysis, market progress is prone to improve as in comparison with 2019.

With the persevering with unfold of the novel coronavirus pandemic, organizations throughout the globe are regularly flattening their recessionary curve by leveraging expertise. Many companies will undergo response, restoration, and renew phases. Building enterprise resilience and enabling agility will help organizations to maneuver ahead of their journey out of the COVID-19 disaster in direction of the Next Normal.

This post-pandemic enterprise planning analysis will help purchasers to:

  • Adjust their strategic planning to maneuver forward as soon as enterprise stability kicks in.
  • Build Resilience by making efficient useful resource and funding decisions for particular person enterprise items, merchandise and repair traces.
  • Conceptualize scenario-based planning to mitigate future disaster conditions.

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Key Considerations for Market Forecast:

  • Impact of lockdowns, provide chain disruptions, demand destruction, and alter in buyer conduct
  • Optimistic, possible, and pessimistic eventualities for all markets as the affect of pandemic unfolds
  • Pre- in addition to post-COVID-19 market estimates
  • Quarterly affect evaluation and updates on market estimates

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Major Three Industrial Hemp Market Participants:

22nd Century Group Inc.

22nd Century Group Inc. operates its enterprise beneath numerous segments corresponding to tobacco and hemp and others. The firm provides industrial hemp with optimized ranges of medically necessary cannabinoids, together with however not restricted to CBD, CBC, and CBG.

Aurora Cannabis Inc.

Aurora Cannabis Inc. operates its enterprise beneath two segments particularly hashish and horizontally built-in companies section. The firm provides help providers corresponding to affected person counseling providers, analytical testing providers, and design, engineering, and building consulting providers. The firm gives hemp CBD beneath the model Reliva.

Bombay Hemp Company Pvt. Ltd.

Bombay Hemp Company Pvt. Ltd. has enterprise operations beneath segments Unified Segment. The firm gives dietary hemp, hemp cloth, and textile.

If you buy a report that’s up to date in the subsequent 60 days, we’ll ship you the new version and information extract FREE! Get report snapshot right here to get detailed market share evaluation of market individuals throughout COVID-19 lockdown:

Industrial Hemp Market 2020-2024: Segmentation

Industrial hemp market is segmented as under:

  • Application

    • Textiles
    • Hemp-based CBD
    • Food And Supplements
    • Personal Care
    • Others
  • Geography

    • APAC
    • North America
    • Europe
    • South America
    • MEA

The industrial hemp market is pushed by excessive demand from the textile trade. In addition, different elements corresponding to the rise in the legalization of hemp cultivation are anticipated to set off the industrial hemp market towards witnessing a CAGR of over 11% throughout the forecast interval.

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Market Drivers

Market Challenges

Market Trends

Vendor Landscape

  • Vendors lined
  • Vendor classification
  • Market positioning of distributors
  • Competitive state of affairs

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Technavio is a number one international expertise analysis and advisory firm. Their analysis and evaluation focuses on rising market tendencies and gives actionable insights to assist companies establish market alternatives and develop efficient methods to optimize their market positions. With over 500 specialised analysts, Technavio’s report library consists of greater than 17,000 reviews and counting, masking 800 applied sciences, spanning throughout 50 nations. Their consumer base consists of enterprises of all sizes, together with greater than 100 Fortune 500 firms. This rising consumer base depends on Technavio’s complete protection, in depth analysis, and actionable market insights to establish alternatives in current and potential markets and assess their aggressive positions inside altering market eventualities.

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