Hemp Derivatives Market - Global Industry Growth, New Opportunities and Forecast – 2027
Market Forecast The Global Hemp Derivatives Market is expected to cross USD 17 Billion by 2025 at a CAGR of 30.0% during the forecast period of 2019 to 2025 . The global market is expected to be lucrative for the active vendors owing to the rising use of hemp derivatives in animal feed, biofuel, and bioplastics, among others. Market players are investing in R&D and introducing pet food products such as pet treats made from hemp. For instance, in September 2018 , EastWest Bioscience, a Canadian hemp-based products manufacturer, launched the hemp-based pet products brand Natural Pet Science to cater to the rising demand for health-conscious pet treats. Additionally, the legalization of hemp in several countries has propelled market players to invest in the market and expand their presence across the globe. Key Players Hemp Oil Canada (Canada) GenCanna Global USA, Inc. (US) Ecofibre (Australia) MH Medical Hemp GmbH (Germany) Konoplex LLC (Russia) Canopy Growth Corporati