The global industrial hemp market size was USD 8.40 Billion in 2021, and is expected to register a revenue CAGR of 33.8% during the forecast period. Rising demand for eco-friendly and sustainable plant-based raw materials across various industries such as construction, textiles, cosmetics and others, rising demand for hemp derivatives for industrial purpose, legalization of hemp cultivation for commercial usage in various countries, and emergence of new start-ups offering various hemp based products are factors expected to drive market revenue growth during the forecast period.
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