New Report Shows the Market for Hemp is Set for Explosive Growth

February 15, 2024 at 11:34 AM EST

A recent study has found that by 2027, the value of the global market size of industrial hemp will have hit $18.6 billion. This valuation will be reached if the market grows at the projected compound annual growth rate of 22.4%.

The global hemp market is based on source, type, region and application. Based on source, it is classified into organic or conventional, and when it comes to application, this market is studied across textiles, food and beverages, pharmaceuticals…

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