# North America Hemp Market Overview 2024-2032

 The latest report by IMARC Group, titled “**North America Hemp Market: Industry Trends, Share, Size, Growth, Opportunity and Forecast 2024-2032**“, offers a comprehensive analysis of the industry, which comprises insights on the [North America hemp market trends](https://www.imarcgroup.com/north-america-hemp-market). The North America hemp market size is expected to exhibit a growth rate (CAGR) of 15.67% during 2024-2032.

 Hemp is a versatile plant from the Cannabis sativa species, cultivated primarily for industrial and medicinal purposes. Unlike its close relative marijuana, hemp contains only trace amounts of THC, the psychoactive compound, making it non-intoxicating. The plant is valued for its strong fibers, used in textiles, ropes, and building materials. Hemp seeds are rich in protein, omega-3, and omega-6 fatty acids, and are used in food products like oil, milk, and supplements. Additionally, hemp is utilized in the production of biodegradable plastics, paper, and biofuels. Its rapid growth and minimal need for pesticides make it an environmentally friendly crop, contributing to its popularity in sustainable agriculture and eco-friendly product manufacturing.

## North America Hemp Market Trends and Drivers:

The increasing consumer awareness of health and wellness is driving demand for hemp seeds and hemp oil, which are rich in essential fatty acids, protein, and other nutrients, thus influencing the market growth. These products are becoming popular in the food and beverage industry as health supplements and ingredients in various health foods. The legalization of hemp cultivation through the 2018 U.S. Farm Bill has been a major driver. This legislation removed hemp from the Controlled Substances Act, distinguishing it from marijuana and allowing for its commercial production. This regulatory support has encouraged investment and growth in the hemp industry. Cannabidiol (CBD), a non-psychoactive compound derived from hemp, has gained popularity for its potential health benefits, including pain relief, anxiety reduction, and anti-inflammatory properties. The booming market for CBD oils, edibles, and topical products is a significant factor driving hemp cultivation and processing.

Hemp is recognized for its environmental benefits, such as its ability to improve soil health, require fewer pesticides, and sequester carbon. These sustainability attributes appeal to environmentally conscious consumers and businesses, boosting demand for hemp-based products. Hemp’s versatility allows it to be used in a wide range of products, from textiles and bioplastics to construction materials and biofuels. This diversity in applications opens multiple revenue streams for producers and stimulates market growth. Innovations in hemp cultivation, processing, and product development are enhancing the efficiency and quality of hemp products. Advanced extraction techniques and breeding programs for high-CBD and low-THC hemp varieties support market expansion. The profitability of hemp compared to traditional crops is attracting farmers looking for alternative and lucrative cash crops. Hemp’s short growing cycle and potential for high yields make it an attractive option for agricultural diversification.

**For an in-depth analysis, you can refer sample copy of the report:** https://www.imarcgroup.com/north-america-hemp-market/requestsample

## North America Hemp Market 2024-2032 Analysis and Segmentation:

**Top key players covered in this report: -**

* BaFa Neu GmbH (Planete Chanvre)
* Dun Agro Hemp Group
* Ecofibre
* Gencanna
* Hemp Inc.
* Hemp Oil Canada
* Hempflax BV (Hempflax Group BV)
* Konoplex Group
* Marijuana Company of America Inc.
* S. HempCo.

The report segmented the market on the basis of region, product type, application and source.

**Breakup by Product Type:**

* Hemp Seed
* Hemp Seed Oil
* CBD Hemp Oil
* Others

**Breakup by Application:**

* Food
* Snacks and Cereals
* Soup, Sauces and Seasonings
* Bakery
* Dairy and frozen desserts
* Others (cold cereals, pasta, chocolate spreads, pet food)
* Beverages
* Hot Beverages
* Sports and Energy Drinks
* Ready-to-Drink
* Others (Meal Replacement Drinks, Beverage Mixes, Beverage Concentrates, Juice Drinks)
* Textiles
* Pharmaceuticals
* Personal Care Products
* Others (Paper, Automobiles, Construction and Materials, Furniture, etc.)

**Breakup by Source:**

* Organic
* Conventional

**Breakup by Country:**

* United States
* Canada

**Key highlights of the report:**

* Market Performance (2018-2023)
* Market Outlook (2024- 2032)
* Porter’s Five Forces Analysis
* Market Drivers and Success Factors
* SWOT Analysis
* Value Chain
* Comprehensive Mapping of the Competitive Landscape

If you need specific information that is not currently within the scope of the report, we can provide it to you as a part of the customization.

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