Global Hemp Market Value (2024–2025)
- 2024: Estimated between $6.4 billion and $9.5 billion
- 2025: Expected to reach $7–11 billion, depending on the source and scope (industrial, food, CBD, textiles, etc.)
- Forecasts project strong growth in the hemp sector, reaching:
- Around $17–30 billion by 2029–2030
- Between $20–38 billion by 2032–2035
- Average compound annual growth rate (CAGR) is estimated between 15% and 22%
- North America and Europe dominate current market share due to advancements in industrial hemp use, food products, wellness, and sustainable textiles.
- Asia-Pacific is expected to see the fastest growth, especially in hemp-based textiles and industrial applications.
- Latin America and Africa are emerging players, focusing on cultivation and low-cost processing for export.
| Year | Estimated Global Value (USD) | Growth Trend |
|---|---|---|
| 2024 | $6.4–9.5 billion | Baseline valuation |
| 2025 | $7–11 billion | Continued expansion across all segments |
| 2029–2030 | $17–30 billion | Strong gains from fiber, food, and CBD |
| 2032–2035 | $20–38 billion | High-end forecasts with full industry use |
- As of 2025, the global hemp market is valued around $7 billion, with high-side estimates near $11 billion.
- The industry is poised for substantial growth, potentially reaching $30–38 billion in the next 8–10 years.
- Key growth drivers include demand for sustainable materials, industrial hemp products, food and wellness items, and regional legalization trends.