The industrial hemp market, by application, was dominated by the food segment in 2018, owing to the wide application of hemp seeds and hemp seed oil, due to their rich vitamin, protein, and omega-3 fatty acid content. Hemp seeds are consumed raw or are being used as a topping in cereals, smoothies, and yogurt. Rising consumer awareness about the benefits of consuming hemp-based products is driving the market for its application in food. Industrial hemp is mainly cultivated for fiber for the textile and paper industry. Furthermore, low prices of conventionally obtained hemp as compared to organic source and their growing application of in the construction & material, automotive, and furniture industries are expected to drive its market in the coming years.
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