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Industrial Hemp market generated $4.9 billion in 2019, and is projected to reach $18.6 billion by 2027

Published by Wanda Rich

Posted on September 17, 2021

1 min read

· Last updated: February 9, 2026

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Illustration of underground mining vehicles used in North America - Global Banking & Finance Review — This image depicts advanced underground mining vehicles, reflecting the projected growth of the North America underground mining vehicle market, valued at ~US$ 1.9 Bn in 2021, driven by increased mining activities.

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The global industrial hemp market is expected to witness significant growth owing to technological innovation with regards to the cultivation and machinery to develop hemp plants more efficiently. As per the report published by Allied Market Research, the global industrial hemp market generated $4.9 billion in 2019, and is projected to reach $18.6 billion by 2027, growingContinue reading “Industrial Hemp market generated $4.9 billion in 2019, and is projected to reach $18.6 billion by 2027”

Frequently Asked Questions

What is industrial hemp?

Industrial hemp is a variety of the Cannabis sativa plant species that is grown specifically for industrial uses, such as textiles, biofuels, and construction materials. It has low levels of THC, the psychoactive component of cannabis.

What is market capitalisation?

Market capitalisation is the total market value of a company's outstanding shares of stock. It is calculated by multiplying the stock's current price by the total number of outstanding shares.

What is sustainability in finance?

Sustainability in finance refers to the practice of considering environmental, social, and governance (ESG) factors in investment decisions to promote long-term economic growth while minimizing negative impacts on society and the environment.

What are investment portfolios?

Investment portfolios are collections of financial assets such as stocks, bonds, and cash equivalents held by an individual or institution. They are designed to achieve specific investment goals and manage risk.

What is innovation in the financial sector?

Innovation in the financial sector involves the introduction of new ideas, products, or services that improve financial processes, enhance customer experience, or create new market opportunities.

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Industrial Hemp market generated $4.9 billion in 2019, and is projected to reach $18.6 billion by 2027

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