Gaming Market Size, Share, Growth and Global Industry Analysis By Type & Application, Regional Insights and Forecast to 2024-2032
Growth Factors of the Industrial Hemp Market
The Industrial Hemp market size was valued at USD 7.90 billion in 2023, and the market is now projected to grow from USD 9.47 billion in 2024 to USD 47.82 billion by 2032, exhibiting a CAGR of 22.44% during the forecast period of 2023-2030.
The COVID-19 pandemic drastically impacted the Industrial Hemp Market Growth, inflicting disruptions during delivery chains, cultivation, processing, and distribution. Lockdowns and regulations brought about labour shortages and logistical challenges, delaying planting and harvesting seasons. Many hemp manufacturers confronted monetary problems due to reduced requirements, especially from sectors like textiles and manufacturing, which have been additionally tormented by the financial downturn. Conversely, the pandemic spurred an increase in the well-being and health sectors, with an advanced call for CBD merchandise, as clients sought natural treatments for strain and anxiety.
The demand in the industrial hemp marketplace is the growing legalization and recognition of hemp and its derivatives across numerous regions, coupled with growing patron awareness of its versatile applications. Hemp's sustainable houses make it an appealing alternative in industries including textiles, creation, and bioplastics, as companies and purchasers are trying to find eco-friendly answers. Additionally, the growing demand for CBD products within the well-being and healthcare sectors fuels the expansion of the Industrial Hemp market share, as these merchandise are more and more diagnosed for his or her ability therapeutic advantages.
Additionally, there's an incredible shift towards using hemp in sustainable and eco-friendly products, pushed through increasing environmental attention amongst clients and producers. This consists of the adoption of hemp-based substances in textiles, production, and biodegradable plastics.
Comprehensive Analysis of the Industrial Hemp Market
The business hemp market is segmented by using kinds into hemp seeds, hemp oil, hemp fibre, and others, each serving specific functions from nutrients to industrial applications. It spans diverse sectors, which include meals and beverages, prescription drugs, non-public care, textiles, and automobiles, highlighting its versatility. Segmentation via source includes natural and conventional hemp, catering to extraordinary patron preferences. Regionally, the market is divided into North America, Europe, Asia-Pacific, Latin America, and the Middle East and Africa, with North America and Europe mainly due to favourable guidelines and high demand. These segments collectively power the marketplace's growth and various applications.
North America presently dominates the industrial hemp market, pushed by way of favourable regulatory frameworks, massive investment in research and improvement, and excessive client calls for hemp-based merchandise, in particular CBD. The United States and Canada are at the vanguard, profiting from progressive legislation consisting of the U.S. Farm Bill, which has boosted hemp cultivation and product improvement. Additionally, the area's strong infrastructure and technological improvements in agriculture and processing contribute to its main position within the global marketplace.
Key players inside the commercial hemp market are important as they pressure innovation, set enterprise standards, and have an effect on market trends. Notable market players encompass Charlotte's Web Holdings, Inc.(Colorado); Canopy Growth Corporation (Ontario); Hemp Inc. (North Carolina); Aurora Cannabis Inc. (Alberta); CV Sciences, Inc. (California); and Ecofibre Limited (Sydney). These agencies are instrumental in advancing the economic hemp marketplace through their management, innovation, and strategic projects.
In November 2023, Canopy Growth Corporation introduced the launch of its new trendy hemp processing facility in Smiths Falls, Ontario. This facility, designed to decorate the extraction and processing of amazing hemp-derived CBD, represents a huge investment within the company's infrastructure and dedication to leading the industrial hemp market. The improvement is expected to enhance production potential, enhance product satisfaction, and help the increasing call for CBD merchandise in North America and beyond.
Segmentation Table
Global Industrial Hemp Market Scope
Study Period 2019-2032
Base Year 2023
Forecast Period 2024-2032
Growth Rate CAGR of 22.44% from 2024-2032
Historical Period 2019-2022
Unit Value (USD Billion)
Segmentation Byapplication, type, and Region
By application Food
Dietary supplements
Functional foods
Beverages
Personal care and comestics
Textiles
Pharmaceuticals
Others
By type
Hemp seed
Hemp seed oil
Hemp fiber
Others
By Region North America (By Type, application, and Country)
- U.S.
- Canada
- Mexico
Europe (By Type, application, and Country)
- France
- Germany
- Italy
- Spain
- U.K.
- Russia
- Rest of Europe
Asia Pacific (By Type, application, and Country)
- China
- India
- Japan
- Australia
- Rest of Asia Pacific
Latin America (By Type, application, and Country)
- Brazil
- Argentina
- Rest of Latin America
Middle East & Africa (By Type, application, and Country)
- South Africa
- UAE
- Rest of Middle East & Africa
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- 1. Introduction
- 1.1. Research Scope
- 1.2. Market Segmentation
- 1.3. Research Methodology
- 1.4. Definitions and Assumptions
- 2. Executive Summary
- 3. Market Dynamics
- 3.1. Market Drivers
- 3.2. Market Restraints
- 3.3. Market Opportunities
- 4. Key Insights
- 4.1. Key Industry Developments – Key Contracts & Agreements, Mergers, Acquisitions and Partnerships
- 4.2. Latest technological Advancements
- 4.3. Porters Five Forces Analysis
- 4.4. Supply Chain Analysis
- 5. Quantitative Insights-Impact of COVID-19 Pandemic on Global Electric Propulsion Satellite Market
- 5.1. Impact of COVID-19 Pandemic on Global Electric Propulsion Satellite Market
- 5.2. Impact of Russia-Ukraine War on Global Electric Propulsion Satellite Market
- 6. Global Electric Propulsion Satellite Market Analysis, Insights, and Forecast, 2019-2030
- 6.1. Key Findings / Definitions
- 6.2. Market Analysis, Insights, and Forecast – By Satellite Type
- 6.2.1. Hybrid
- 6.2.2. All-Electric
- 6.3. Market Analysis, Insights, and Forecast – By Satellite Size
- 6.3.1. Small Satellites
- 6.3.2. Medium Satellites
- 6.3.3. Heavy Satellites
- 6.4. Market Analysis, Insights, and Forecast – By Sub-system
- 6.4.1. Structures and Mechanisms
- 6.4.2. Thermal Control System (TCS)
- 6.4.3. Electric Power System (EPS)
- 6.4.4. Altitude Control System (ACS)
- 6.4.5. Telemetry Tracking & Command (TT&C)
- 6.4.6. Flight Software
- 6.4.7. Propulsion System
- 6.4.8. Others
- 6.5. Market Analysis, Insights, and Forecast – By Propulsion
- 6.5.1. Electrothermal Propulsion
- 6.5.2. Electrostatic Propulsion
- 6.5.3. Electromagnetic Propulsion
- 6.6. Market Analysis, Insights, and Forecast – By Application
- 6.6.1. Earth Observation & Sciences
- 6.6.2. Navigation
- 6.6.3. Telecommunications
- 6.6.4. Astronomy
- 6.6.5. Interplanetary & Space Exploration
- 6.6.6. Others
- 6.7. Market Analysis, Insights, and Forecast – By Region
- 6.7.1. North America
- 6.7.2. Europe
- 6.7.3. Asia Pacific
- 6.7.4. Rest of the World
- 7. North America Electric Propulsion Satellite Market Analysis, Insights, and Forecast, 2019-2030
- 7.1. Market Analysis, Insights, and Forecast – By Satellite Type
- 7.1.1. Hybrid
- 7.1.2. All-Electric
- 7.2. Market Analysis, Insights, and Forecast – By Satellite Size
- 7.2.1. Small Satellites
- 7.2.2. Medium Satellites
- 7.2.3. Heavy Satellites
- 7.3. Market Analysis, Insights, and Forecast – By Sub-system
- 7.3.1. Structures and Mechanisms
- 7.3.2. Thermal Control System (TCS)
- 7.3.3. Electric Power System (EPS)
- 7.3.4. Altitude Control System (ACS)
- 7.3.5. Telemetry Tracking & Command (TT&C)
- 7.3.6. Flight Software
- 7.3.7. Propulsion System
- 7.3.8. Others
- 7.4. Market Analysis, Insights, and Forecast – By Propulsion
- 7.4.1. Electrothermal Propulsion
- 7.4.2. Electrostatic Propulsion
- 7.4.3. Electromagnetic Propulsion
- 7.5. Market Analysis, Insights, and Forecast – By Application
- 7.5.1. Earth Observation & Sciences
- 7.5.2. Navigation
- 7.5.3. Telecommunications
- 7.5.4. Astronomy
- 7.5.5. Interplanetary & Space Exploration
- 7.5.6. Others
- 7.6. Market Analysis – By Country
- 7.6.1. U.S
- 7.6.1.1. Market Analysis, Insights, and Forecast – By Satellite Size
- 7.6.1.1.1. Small Satellites
- 7.6.1.1.2. Medium Satellites
- 7.6.1.1.3. Heavy Satellites
- 7.6.2. Canada
- 7.6.2.1. Market Analysis, Insights, and Forecast – By Satellite Size
- 7.6.2.1.1. Small Satellites
- 7.6.2.1.2. Medium Satellites
- 7.6.2.1.3. Heavy Satellites
- 8. Europe Electric Propulsion Satellite Market Analysis, Insights, and Forecast, 2019-2030
- 8.1. Market Analysis, Insights, and Forecast – By Satellite Type
- 8.1.1. Hybrid
- 8.1.2. All-Electric
- 8.2. Market Analysis, Insights, and Forecast – By Satellite Size
- 8.2.1. Small Satellites
- 8.2.2. Medium Satellites
- 8.2.3. Heavy Satellites
- 8.3. Market Analysis, Insights, and Forecast – By Sub-system
- 8.3.1. Structures and Mechanisms
- 8.3.2. Thermal Control System (TCS)
- 8.3.3. Electric Power System (EPS)
- 8.3.4. Altitude Control System (ACS)
- 8.3.5. Telemetry Tracking & Command (TT&C)
- 8.3.6. Flight Software
- 8.3.7. Propulsion System
- 8.3.8. Others
- 8.4. Market Analysis, Insights, and Forecast – By Propulsion
- 8.4.1. Electrothermal Propulsion
- 8.4.2. Electrostatic Propulsion
- 8.4.3. Electromagnetic Propulsion
- 8.5. Market Analysis, Insights, and Forecast – By Application
- 8.5.1. Earth Observation & Sciences
- 8.5.2. Navigation
- 8.5.3. Telecommunications
- 8.5.4. Astronomy
- 8.5.5. Interplanetary & Space Exploration
- 8.5.6. Others
- 8.6. Market Analysis – By Country
- 8.6.1. U.K.
- 8.6.1.1. Market Analysis, Insights, and Forecast – By Satellite Size
- 8.6.1.1.1. Small Satellites
- 8.6.1.1.2. Medium Satellites
- 8.6.1.1.3. Heavy Satellites
- 8.6.2. Germany
- 8.6.2.1. Market Analysis, Insights, and Forecast – By Satellite Size
- 8.6.2.1.1. Small Satellites
- 8.6.2.1.2. Medium Satellites
- 8.6.2.1.3. Heavy Satellites
- 8.6.3. France
- 8.6.3.1. Market Analysis, Insights, and Forecast – By Satellite Size
- 8.6.3.1.1. Small Satellites
- 8.6.3.1.2. Medium Satellites
- 8.6.3.1.3. Heavy Satellites
- 8.6.4. Russia
- 8.6.4.1. Market Analysis, Insights, and Forecast – By Satellite Size
- 8.6.4.1.1. Small Satellites
- 8.6.4.1.2. Medium Satellites
- 8.6.4.1.3. Heavy Satellites
- 8.6.5. Italy
- 8.6.5.1. Market Analysis, Insights, and Forecast – By Satellite Size
- 8.6.5.1.1. Small Satellites
- 8.6.5.1.2. Medium Satellites
- 8.6.5.1.3. Heavy Satellites
- 8.6.6. Spain
- 8.6.6.1. Market Analysis, Insights, and Forecast – By Satellite Size
- 8.6.6.1.1. Small Satellites
- 8.6.6.1.2. Medium Satellites
- 8.6.6.1.3. Heavy Satellites
- 8.6.7. Rest of Europe
- 8.6.7.1. Market Analysis, Insights, and Forecast – By Satellite Size
- 8.6.7.1.1. Small Satellites
- 8.6.7.1.2. Medium Satellites
- 8.6.7.1.3. Heavy Satellites
- 9. Asia Pacific Electric Propulsion Satellite Market Analysis, Insights, and Forecast, 2019-2030
- 9.1. Market Analysis, Insights, and Forecast – By Satellite Type
- 9.1.1. Hybrid
- 9.1.2. All-Electric
- 9.2. Market Analysis, Insights, and Forecast – By Satellite Size
- 9.2.1. Small Satellites
- 9.2.2. Medium Satellites
- 9.2.3. Heavy Satellites
- 9.3. Market Analysis, Insights, and Forecast – By Sub-system
- 9.3.1. Structures and Mechanisms
- 9.3.2. Thermal Control System (TCS)
- 9.3.3. Electric Power System (EPS)
- 9.3.4. Altitude Control System (ACS)
- 9.3.5. Telemetry Tracking & Command (TT&C)
- 9.3.6. Flight Software
- 9.3.7. Propulsion System
- 9.3.8. Others
- 9.4. Market Analysis, Insights, and Forecast – By Propulsion
- 9.4.1. Electrothermal Propulsion
- 9.4.2. Electrostatic Propulsion
- 9.4.3. Electromagnetic Propulsion
- 9.5. Market Analysis, Insights, and Forecast – By Application
- 9.5.1. Earth Observation & Sciences
- 9.5.2. Navigation
- 9.5.3. Telecommunications
- 9.5.4. Astronomy
- 9.5.5. Interplanetary & Space Exploration
- 9.5.6. Others
- 9.6. Market Analysis – By Country
- 9.6.1. China
- 9.6.1.1. Market Analysis, Insights, and Forecast – By Satellite Size
- 9.6.1.1.1. Small Satellites
- 9.6.1.1.2. Medium Satellites
- 9.6.1.1.3. Heavy Satellites
- 9.6.2. India
- 9.6.2.1. Market Analysis, Insights, and Forecast – By Satellite Size
- 9.6.2.1.1. Small Satellites
- 9.6.2.1.2. Medium Satellites
- 9.6.2.1.3. Heavy Satellites
- 9.6.3. Japan
- 9.6.3.1. Market Analysis, Insights, and Forecast – By Satellite Size
- 9.6.3.1.1. Small Satellites
- 9.6.3.1.2. Medium Satellites
- 9.6.3.1.3. Heavy Satellites
- 9.6.4. South Korea
- 9.6.4.1. Market Analysis, Insights, and Forecast – By Satellite Size
- 9.6.4.1.1. Small Satellites
- 9.6.4.1.2. Medium Satellites
- 9.6.4.1.3. Heavy Satellites
- 9.6.5. Australia
- 9.6.5.1. Market Analysis, Insights, and Forecast – By Satellite Size
- 9.6.5.1.1. Small Satellites
- 9.6.5.1.2. Medium Satellites
- 9.6.5.1.3. Heavy Satellites
- 9.6.6. Rest of Asia Pacific
- 9.6.6.1. Market Analysis, Insights, and Forecast – By Satellite Size
- 9.6.6.1.1. Small Satellites
- 9.6.6.1.2. Medium Satellites
- 9.6.6.1.3. Heavy Satellites
- 10. Rest of the World Electric Propulsion Satellite Market Analysis, Insights, and Forecast, 2019-2030
- 10.1. Market Analysis, Insights, and Forecast – By Satellite Type
- 10.1.1. Hybrid
- 10.1.2. All-Electric
- 10.2. Market Analysis, Insights, and Forecast – By Satellite Size
- 10.2.1. Small Satellites
- 10.2.2. Medium Satellites
- 10.2.3. Heavy Satellites
- 10.3. Market Analysis, Insights, and Forecast – By Sub-system
- 10.3.1. Structures and Mechanisms
- 10.3.2. Thermal Control System (TCS)
- 10.3.3. Electric Power System (EPS)
- 10.3.4. Altitude Control System (ACS)
- 10.3.5. Telemetry Tracking & Command (TT&C)
- 10.3.6. Flight Software
- 10.3.7. Propulsion System
- 10.3.8. Others
- 10.4. Market Analysis, Insights, and Forecast – By Propulsion
- 10.4.1. Electrothermal Propulsion
- 10.4.2. Electrostatic Propulsion
- 10.4.3. Electromagnetic Propulsion
- 10.5. Market Analysis, Insights, and Forecast – By Application
- 10.5.1. Earth Observation & Sciences
- 10.5.2. Navigation
- 10.5.3. Telecommunications
- 10.5.4. Astronomy
- 10.5.5. Interplanetary & Space Exploration
- 10.5.6. Others
- 10.6. Market Analysis – By Sub-Region
- 10.6.1. Middle East & Africa
- 10.6.1.1. Market Analysis, Insights, and Forecast – By Satellite Size
- 10.6.1.1.1. Small Satellites
- 10.6.1.1.2. Medium Satellites
- 10.6.1.1.3. Heavy Satellites
- 10.6.2. Latin America
- 10.6.2.1. Market Analysis, Insights, and Forecast – By Satellite Size
- 10.6.2.1.1. Small Satellites
- 10.6.2.1.2. Medium Satellites
- 10.6.2.1.3. Heavy Satellites
- 11. Competitive Analysis
- 11.1. Competition Dashboard
- 11.2. Global Electric Propulsion Satellite Revenue Market Share Analysis by Key Players, 2022 (%)
- 12. Company Profiles (Overview, Products & services, SWOT analysis, Recent developments, strategies, financials (based on availability under public domain))
- 12.1. Thales Group
- 12.1.1. Overview,
- 12.1.2. Products & services,
- 12.1.3. SWOT analysis,
- 12.1.4. Recent developments,
- 12.1.5. strategies,
- 12.1.6. financials (based on availability under public domain)
- 12.2. The Boeing Company
- 12.2.1. Overview,
- 12.2.2. Products & services,
- 12.2.3. SWOT analysis,
- 12.2.4. Recent developments,
- 12.2.5. strategies,
- 12.2.6. financials (based on availability under public domain)
- 12.3. Airbus S.A.S.
- 12.3.1. Overview,
- 12.3.2. Products & services,
- 12.3.3. SWOT analysis,
- 12.3.4. Recent developments,
- 12.3.5. strategies,
- 12.3.6. financials (based on availability under public domain)
- 12.4. OHB S.E.
- 12.4.1. Overview,
- 12.4.2. Products & services,
- 12.4.3. SWOT analysis,
- 12.4.4. Recent developments,
- 12.4.5. strategies,
- 12.4.6. financials (based on availability under public domain)
- 12.5. INVAP S.E.
- 12.5.1. Overview,
- 12.5.2. Products & services,
- 12.5.3. SWOT analysis,
- 12.5.4. Recent developments,
- 12.5.5. strategies,
- 12.5.6. financials (based on availability under public domain)
- 12.6. Accion Systems Inc.
- 12.6.1. Overview,
- 12.6.2. Products & services,
- 12.6.3. SWOT analysis,
- 12.6.4. Recent developments,
- 12.6.5. strategies,
- 12.6.6. financials (based on availability under public domain)
- 12.7. Lockheed Martin Corporation
- 12.7.1. Overview,
- 12.7.2. Products & services,
- 12.7.3. SWOT analysis,
- 12.7.4. Recent developments,
- 12.7.5. strategies,
- 12.7.6. financials (based on availability under public domain)
- 12.8. Aerojet Rocketdyne Holdings Inc.
- 12.8.1. Overview,
- 12.8.2. Products & services,
- 12.8.3. SWOT analysis,
- 12.8.4. Recent developments,
- 12.8.5. strategies,
- 12.8.6. financials (based on availability under public domain)
- 12.9. ArianeGroup GmbH
- 12.9.1. Overview,
- 12.9.2. Products & services,
- 12.9.3. SWOT analysis,
- 12.9.4. Recent developments,
- 12.9.5. strategies,
- 12.9.6. financials (based on availability under public domain)
- 12.10. AeroAstro Inc.
- 12.10.1. Overview,
- 12.10.2. Products & services,
- 12.10.3. SWOT analysis,
- 12.10.4. Recent developments,
- 12.10.5. strategies,
- 12.10.6. financials (based on availability under public domain)
- 12.11. SSC Roscosmos
- 12.11.1. Overview,
- 12.11.2. Products & services,
- 12.11.3. SWOT analysis,
- 12.11.4. Recent developments,
- 12.11.5. strategies,
- 12.11.6. financials (based on availability under public domain)
- 12.12. Northrop Grumman Corporation
- 12.12.1. Overview,
- 12.12.2. Products & services,
- 12.12.3. SWOT analysis,
- 12.12.4. Recent developments,
- 12.12.5. strategies,
- 12.12.6. financials (based on availability under public domain)
- 12.13. Safran Group
- 12.13.1. Overview,
- 12.13.2. Products & services,
- 12.13.3. SWOT analysis,
- 12.13.4. Recent developments,
- 12.13.5. strategies,
- 12.13.6. financials (based on availability under public domain)
- 12.14. Sitael S.p.A.
- 12.14.1. Overview,
- 12.14.2. Products & services,
- 12.14.3. SWOT analysis,
- 12.14.4. Recent developments,
- 12.14.5. strategies,
- 12.14.6. financials (based on availability under public domain)
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