Industrial Cannabis Market Set to Grow USD 196.40 Billion by 2034, Expanding at Robust 11.53% CAGR

According to Towards FnB, the global industrial cannabis market size is calculated at USD 73.55 billion in 2025 and is anticipated to hit USD 196.40 billion by 2034. This represents an impressive CAGR of 11.53% between 2025 and 2034, highlighting the market's accelerating expansion in response to rising global demand for sustainable and eco-friendly products.

Ottawa, Nov. 12, 2025 (GLOBE NEWSWIRE) -- The global industrial cannabis market size was valued at USD 65.95 billion in 2024 and it is expected to maintain a steady growth trajectory increasing from USD 73.55 billion in 2025 to USD 196.40 billion by the end of 2034. This growth is driven not only by the shift towards renewable materials and sustainable production but also by the increasing legalization and commercialization of hemp-based products in multiple industries.

The market is observed to increase due to high demand for hemp-based and eco-friendly products. The sector is also growing due to various applications in different domains such as pharmaceuticals, textiles, personal care, and food and beverages.

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Key Highlights of the Industrial Cannabis Market

• By region, Europe led the global industrial cannabis market with a commanding share of 36% in 2024, while North America is projected to experience significant growth at a notable CAGR between 2025 and 2034.
• By product type, the hemp fiber category secured the largest market share of 36% in 2024, while the cannabinoids sector is anticipated to witness strong expansion during the forecasted period, growing at a steady CAGR.
• By cultivation type, conventional farming accounted for the dominant portion of the market, holding 58% in 2024, while the controlled environment agriculture sector is set to grow at an impressive CAGR from 2025 to 2034.
• By end-user industry, the textile and apparel segment was the largest, capturing 33% of the market share in 2024, with the pharma and wellness industry expected to grow significantly over the forecast period.
• By distribution channel, the B2B supply contracts segment held a dominant 62% market share in 2024, while retail and e-commerce are expected to experience robust growth at a notable CAGR between 2025 and 2034.
  

Higher Sustainability is helpful for the Growth of the Industrial Cannabis Industry

The industrial cannabis market is observed to grow significantly due to factors such as sustainability and a favorable regulatory environment. Industrial cannabis, also known as hemp, is useful for the production of different types of products. Hemp fiber is durable and sustainable, which makes it ideal for the manufacturing of various products related to medicinal, pharmaceutical, health and wellness, cosmetics, textile, and even construction. The hemp fiber growth in controlled temperature and environment further fuels the market’s growth as it helps to enhance the yields, along with quality produce.

Impact of AI on the Industrial Cannabis Market

Artificial intelligence is transforming the industrial cannabis market by improving cultivation efficiency, quality assurance, and product innovation across medical, industrial, and wellness applications. In cultivation, AI-powered systems analyze data from sensors, drones, and cameras to monitor environmental conditions such as temperature, humidity, soil quality, and nutrient levels in real time. Machine learning algorithms predict optimal growth conditions, detect diseases or pest infestations early, and automate irrigation and lighting schedules. This precision agriculture approach maximizes crop yield, consistency, and cannabinoid concentration while reducing resource use and environmental impact.

In processing and manufacturing, AI-driven predictive analytics optimize extraction processes for cannabinoids, terpenes, and fibers, ensuring product purity and efficiency. Computer vision systems inspect raw materials to detect contaminants, monitor resin quality, and ensure compliance with safety standards. AI is also enhancing product development by simulating chemical interactions and predicting consumer responses to formulations used in pharmaceuticals, cosmetics, and industrial hemp-based materials such as textiles, bioplastics, and construction composites.

Recent Developments in the Industrial Cannabis Market

• In January 2025, in Himachal Pradesh, India, Chief Minister Sukhvinder Singh approved a pilot project for cannabis or hemp cultivation. The initiative was taken amid rising demand for it by the agricultural, medicinal, and industrial domains. (Source- https://www.downtoearth.org.in)
• In September 2025, RISE Dispensaries, a well-renowned cannabis retail chain owned by Green Thumb Industries, Inc., announced that the brand would start adult-use cannabis sales in Minnesota. (Source- https://www.globenewswire.com)

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New Trends of the Industrial Cannabis Market

• Enhanced sustainability and eco-friendliness are one of the major factors for the growth of the market.
• The rise of hemp-based bioplastics for the packaging domain is one of the major factors for the growth of the industrial cannabis market.
• Hemp fibers are used in the textile and home furnishing industry due to their durability and sustainability, which is helpful for the market’s growth.
• Technological advancements to enhance the quality and quantity of produce are also helpful for the growth of the market.

Product Survey — Global Industrial Cannabis Market

Product Category	Description / Function	Primary Derivatives / Components	Key Applications / End-Use Sectors	Leading Companies / Producers
Hemp Fiber	Derived from the stalk of the cannabis plant; known for tensile strength and eco-friendly characteristics.	Bast fiber, hurd (shives)	Textiles, ropes, composites, paper, construction materials	HempFlax, Dun Agro Hemp Group, Ecofibre Ltd., HemPoland, Hemp Inc.
Hemp Seeds & Seed Oil	Nutrient-rich seeds and oils extracted for human and animal consumption; high in omega-3 and omega-6 fatty acids.	Hemp seed oil, protein powder, whole seeds	Food & beverages, nutritional supplements, cosmetics	Manitoba Harvest, Nutiva, Ecofibre, Aurora Hemp
Hemp Protein & Nutritional Powders	Defatted or processed seed proteins used as plant-based protein alternatives.	Hemp protein concentrate, isolate	Functional foods, sports nutrition, vegan formulations	Sunsoil Hemp, Victory Hemp Foods, Natures Plus, Hemp Foods Australia
CBD (Cannabidiol) Extracts	Non-psychoactive cannabinoid extracted from hemp flowers; used for therapeutic and wellness products.	Full-spectrum, broad-spectrum, isolate	Pharmaceuticals, nutraceuticals, cosmetics, beverages	Charlotte’s Web, CV Sciences, Elixinol, Medterra
Industrial Hemp Biomass	Whole-plant material used for extraction, energy generation, or composting.	Hemp stalks, leaves, flowers	Bioenergy, industrial feedstock, composite materials	Hemp Inc., GenCanna, Blue Sky Hemp Ventures
Hemp-Based Construction Materials	Sustainable building components derived from hemp stalks and fibers.	Hempcrete, fiberboard, insulation, bioplastics	Green building, prefabricated housing, insulation	Hempitecture, IsoHemp, JustBioFiber, HempFlax
Hemp Paper & Packaging Products	Recycled and sustainable paper or packaging from hemp pulp.	Kraft paper, cardboard, molded pulp	Packaging, printing, eco-friendly products	Green Field Paper, Hemp Press, TreeFree Hemp
Hemp Textiles & Fabrics	Processed hemp fibers used in woven and nonwoven fabrics for apparel and industrial textiles.	Hemp-cotton blends, pure hemp yarn	Apparel, upholstery, geotextiles, footwear	EnviroTextiles, Liahren Hemp, Devohome, Patagonia (hemp line)
Hemp-Based Bio-Composites & Plastics	Composite materials combining hemp fiber with polymers for lightweight, strong components.	Hemp fiber + PLA, polypropylene, or epoxy blends	Automotive parts, consumer goods, construction	FlexForm Technologies, Hemp Plastic Company, HemComp
Hemp-Based Personal Care & Cosmetics	Use of hemp oil and extracts in skincare and cosmetic formulations.	Hemp oil, CBD oil, hemp seed extract	Lotions, shampoos, creams, serums	The Body Shop, Kiehl’s, L’Oréal (CBD lines), Endoca
Hemp Animal Feed	Nutrient-dense hemp seed meal and fiber residues for livestock.	Hemp seed cake, hemp meal	Animal feed, aquaculture nutrition	Victory Hemp Foods, Hemp Vet, Ananda Food
Hemp-Based Beverages	Drinks infused with hemp seed oil or CBD; positioned as wellness and relaxation beverages.	Hemp milk, CBD-infused water, teas	Functional beverages, health drinks	Recess, Trip, Cloud Water, Green Roads

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Technological Innovations for the Growth of the Industrial Cannabis Market

• Precision Agriculture and IoT- Use of IoT sensors, drones, and data analytics allows farmers to keep a tap on the industrial cannabis yields and their quality. Such technological advancements also help to enhance the quality of soil, maintain moisture, and maintain temperature, humidity, and nutrient levels of the yields, which is further helpful for the growth of the market. The data-driven approach helps to manage the quality and quantity of yields, further fueling the growth of the market.
• Automation and Robotics- AI-powered automation helps to lower the quantity of labor-intensive work and reduces human error in tasks such as planting, trimming, sorting, and packaging. It helps to lower the labor costs and minimize human errors.
• Advanced Lighting Systems- High-efficiency LED lighting systems with high spectra are helpful to replace high-pressure sodium bulbs. It also helps to lower the energy consumption, which is further helpful for the industrial cannabis market’s growth.
  

Trade Analysis — Industrial Cannabis Market: Import & Export Statistics

1. Hemp Fiber & Hurds: Used in textiles, biocomposites, insulation, paper, and bioplastics. Shipped as bales, raw stalks, or processed fibers.
2. Hemp Seeds & Grain: Used in food, feed, and nutritional supplements. Major export commodity due to rising demand for plant-based proteins and oils.
3. Hemp Seed Oil & Protein: Cold-pressed oil for cosmetics, dietary supplements, and culinary use; hemp protein powder for functional foods.
4. Cannabidiol (CBD) Extracts & Isolates: High-value exports primarily for nutraceutical, cosmetic, and wellness industries. Regulatory approval differs by country.
5. Hemp-Based Textiles & Composites: Finished products and intermediate goods for apparel, automotive, and packaging sectors.
   

Top Exporters

• China: The world’s largest producer and exporter of industrial hemp fiber and textiles. China’s exports dominate the raw fiber, yarn, and finished hemp fabric categories, serving apparel and industrial textile sectors worldwide.
• Canada: A leading exporter of hemp seeds, hemp oil, and protein powders. Canada’s Health Canada licensing system enables large-scale cultivation for grain, with exports to the U.S., Europe, and Asia.
• European Union (France, Netherlands, Lithuania, Germany): France and Lithuania lead EU hemp fiber and seed exports. The Netherlands and Germany export processed hemp oil and hemp-based building materials.
• United States: Rapidly emerging exporter of hemp-derived CBD isolates and specialty wellness products since the 2018 U.S. Farm Bill legalized hemp cultivation. Exports remain focused on North America and Europe.
• Australia & New Zealand: Increasing exports of hemp seeds and oil products, supported by strict THC compliance and organic certification.
• Ukraine & Romania: Strong historical hemp fiber industries, reactivated for exports to the EU’s eco-textile and construction sectors.

Top Importers

• United States: The largest global importer of hemp seeds, hemp oil, and hemp-derived ingredients, mainly from Canada, the EU, and China.
• European Union: Imports hemp grain, oil, and processed CBD products for nutraceutical and cosmetics manufacturing.
• Japan, South Korea, and Taiwan: Import hemp seed oil and textiles for functional food and skincare industries under tightly controlled regulations.
• Switzerland & UK: Key importers of high-purity CBD extracts and isolates for pharmaceuticals, wellness, and personal care products.
• India & Thailand: Emerging import markets for hemp seeds and oil as domestic legalization expands industrial applications.
  

Major Trade Flows

• China to Europe / North America: Bulk shipments of hemp fiber, yarn, and woven fabrics for textiles and paper applications.
• Canada to U.S. & Asia: High-quality hemp seed, oil, and protein powder exports.
• U.S. to Europe & Latin America: CBD isolates and finished nutraceutical products.
• EU to MENA & Africa: Hemp-based composites and construction materials exported for sustainable housing initiatives.
• Australia to Japan / Korea: Organic-certified hemp seed oil and food-grade ingredients.
  

Government Initiatives in the Industrial Cannabis Market

Key Initiatives

• The Agriculture Improvement Act of 2018 (often called the “2018 Farm Bill”) in the U.S. removed “hemp” (defined as cannabis with <0.3% THC) from the federal list of controlled substances, thereby allowing it to be treated as an agricultural commodity.
• Regulatory oversight by the U.S. Food & Drug Administration (FDA) via its Cannabis Product Committee: the FDA is developing strategies and policies for cannabis-derived products (including hemp/cannabinoids) with respect to food, supplements, and other uses.
• National and state legislation efforts to deschedule or reform cannabis laws (thereby enabling industrial/medicinal cultivation). For example, the Marijuana Opportunity Reinvestment & Expungement Act (MORE Act) in the U.S. proposes changes that would impact how cannabis is regulated.
• In India, some states (notably Himachal Pradesh) have moved to legalise the cultivation of cannabis (including industrial uses) and create regulatory frameworks for medicinal & industrial cannabis.
• Research and development initiatives: For example, studies around blockchain/IoT platforms for tracking industrial hemp supply chains to ensure quality, traceability, and regulatory compliance.
• Establishment of regulatory authorities dedicated to cannabis/hemp: e.g., in some countries the government has created a specific body to regulate cultivation, processing, licensing, and exports of cannabis for industrial/medicinal use.

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Industrial Cannabis Market Dynamics

What Are the Growth Drivers of the Industrial Cannabis Market?

The market is expected to grow due to favorable regulatory policies, varied applications across different domains, and increasing legalization. Industrial cannabis is eco-friendly and sustainable, further driving market growth. The ingredient is useful for the production of various products related to pharmaceuticals, cosmetics, health and wellness, and cosmetics, helpful for the market’s growth. Hemp is useful for the production of sustainable construction materials, further driving market growth.

Challenge

A Few Regulatory Challenges Hamper the Growth of the Market

Regulatory issues, such as conflicts in the state and federal regulations, hamper the growth of the market. The market is also affected by factors such as banking and financial limitations, taxation pressures, and compliance complexity. Due to financial and regulatory limitations, companies are not able to produce different types of products, further creating obstacles in the growth of the industrial cannabis market.  

Opportunity

Sustainability and Eco-Friendliness are helpful for the Growth of the Market

Hemp-derived fiber is eco-friendly and sustainable, driving the growth of the market. It helps enhance market growth due to rising consumer awareness and environmental consciousness. The sustainability and durability of the hemp fiber make it useful for various industries such as construction, textiles, pharmacy, and health and wellness, further fueling the growth of the market. Higher demand for such materials for the manufacturing of personal care and wellness products further helps in the growth of the market.  

Industrial Cannabis Market Regional Analysis

Europe Dominated the Industrial Cannabis Market in 2024

Europe dominated the industrial cannabis market in 2024 due to high demand for industrial cannabis in the medical domain and rising legalization, allowing various sectors to use the ingredient with ease. Evolving public attitude and regulatory changes are further fueling the growth of the market. The market is also fueled by factors such as eco-friendliness, sustainability, higher demand for plant-based food items, and cannabidiol products sourced from industrial hemp. Germany has a major contribution to the growth of the market of the region due to the high usage of industrial cannabis for medical and recreational purposes, which is helpful for the market’s growth.

North America is Observed to Grow in the Foreseen Period

North America is expected to grow in the foreseeable period due to high demand for industrial cannabis for medicinal and recreational purposes. The rising legalization and changing regulatory frameworks are further fueling the growth of the market in the foreseeable period. It further motivates industries of different domains to produce different types of products, such as edible drinks and wellness items, further fueling the growth of the market. The US has a major role in the growth of the market due to high usage of industrial cannabis in the manufacturing of various product options of food and beverages, cosmetics, health and wellness, and the pharmaceutical sector.

Asia Pacific is Expected to Grow at a Notable Rate in the Foreseeable Period

Asia Pacific is observed to have a notable growth in the foreseen period due to the high demand for hemp-derived products in different domains such as pharmaceuticals, food and beverage, cosmetics, and medicine as well. The ecological advantages of industrial hemp further fuel the growth of the market in the region. China has a major contribution to the growth of the market in the region due to its high demand by different domains for varied applications and manufacturing of therapeutic, pain relief, and other similar products.

Industrial Cannabis Market Report Scope

Report Attribute	Key Statistics
Base Year	2024
Forecast Period	2025 to 2034
Growth Rate from 2025 to 2034	CAGR of 11.53%
Market Size in 2025	USD 73.55 Billion
Market Size in 2026	USD 82.03 Billion
Market Size by 2034	USD 196.40 Billion
Dominated Region	Europe
Fastest Growing Region	North America
Regions Covered	North America, Europe, Asia-Pacific, Latin America and Middle East & Africa

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Industrial Cannabis Market Segmental Analysis

Product Type Analysis

The hemp fiber segment led the industrial cannabis market in 2024 due to its versatility and growing functionality in various industries. The fiber breaks down easily and hence is useful in different domains such as automotive, textiles, personal care, and even construction. The fiber is also highly utilized as it is eco-friendly and allows manufacturers to easily incorporate various forms of materials into it. Hence, it is a great alternative to synthetic, further fueling the growth of the market.

The cannabinoids segment is observed to be the fastest-growing region in the foreseen period due to its multiple therapeutic effects and advantages for the veterinary sector as well. Due to its multiple skin benefits, the ingredient is highly utilized in the manufacturing of personal care products such as body lotions, oils, and capsules, further fueling the growth of industrial cannabis in the foreseeable period. High demand for the ingredient in vaping products is another major factor that helps enhance the revenue of the market, with youth forming a huge consumer base for the market.

Cultivation Type Analysis

The conventional farming segment dominated the industrial cannabis market in 2024 due to the manageable costs of the cultivation form and cost-effectiveness, which was helpful for the growth of the market. The form of farming also allows the farmers to expect manageable yields and allows them to make timely adjustments accordingly. No additional costs are required for advanced setup in case of conventional farming, further fueling the growth of the market. Hence, farmers with economic barriers prefer conventional farming.

The controlled environment agriculture segment is expected to grow in the foreseen period due to its array of benefits, such as enhanced yields, lowered pest attacks, improved quality of yields, and controlled environment. It allows the manufacturers to enhance the quality of yields necessary for the pharmaceutical and medicinal cannabis sector, further fueling the growth of the market in the foreseeable period.

End Use Analysis

The textile and apparel segment dominated the market in 2024 as hemp fiber is highly useful for the textile industry due to its qualities, such as its durability, hypoallergenic properties, and resistance to harmful UV rays. It can also be combined with other materials, such as linen or cotton, to enhance their durability and provide different forms of materials to consumers. Being sustainable and eco-friendly, its demand increases in the market, further fueling the growth of the sector.

The pharma and wellness segment is expected to grow in the foreseeable period, mainly due to the rising legalization of medical cannabis, allowing manufacturers of different domains to use the ingredient with ease. Hence, the sector uses the ingredient for the manufacturing of products helpful for therapeutic healing, and the manufacturing of other quality medicinal products. The product is also useful for the manufacturing of pharma products utilized for healing chronic pain, epilepsy, anxiety, and multiple sclerosis.

Distribution Channel Analysis

The B2B supply contracts segment led the industrial cannabis market in 2024, as it is crucial for supplying bulk raw materials across different domains. The segment also ensures superior quality of raw materials, proper testing, and adherence to regulations, which are essential for smooth operations in a stringent regulatory environment for the use of industrial cannabis and the growth of the market.

The retail and e-commerce segment is expected to grow in the foreseeable future due to factors such as rising legalization, streamlined regulatory procedures, consumer demand for easy access to such products, and advancing technologies. E-commerce websites include detailed information about different products, such as their ingredient lists, reviews, and laboratory tests and permissions to maintain consumers’ trust, further fueling the growth of the market in the foreseen period.

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Top Companies in the Industrial Cannabis Market

• Ecofibre Limited – Ecofibre is an Australian-based company engaged in the production and processing of industrial hemp and hemp-derived products. Its operations span nutritional supplements, textiles, and biocomposites, emphasizing sustainable cultivation and value-added hemp applications across health, materials, and agriculture sectors.
• Charlotte’s Web Holdings, Inc. – Charlotte’s Web is a U.S. pioneer in hemp-derived wellness products, producing CBD oils, capsules, and topicals from industrial hemp. The company integrates seed-to-shelf quality control and focuses on natural, traceable, and compliant hemp formulations for consumer wellness markets.
• Konoplex Group – Konoplex Group, based in Russia, specializes in the cultivation and processing of industrial hemp fibers, hurds, and seeds. The company produces eco-friendly materials for textiles, construction, and paper manufacturing, supporting circular and sustainable industrial practices.
• Hemp Inc. – Hemp Inc. is a U.S.-based company focusing on the processing of industrial hemp for fiber, bioplastics, and animal bedding. It also operates large-scale decortication and industrial processing facilities, promoting hemp-based sustainability solutions for multiple industries.
• Elixinol Wellness Limited – Elixinol Wellness manufactures and distributes hemp-derived dietary supplements, skincare, and wellness products. The company maintains a strong presence in the U.S., Europe, and Asia-Pacific, leveraging phytocannabinoid-based innovation and sustainable hemp sourcing.
• EIHA Projects GmbH – EIHA Projects, part of the European Industrial Hemp Association, focuses on research, product standardization, and innovation in the industrial hemp sector. The organization supports the development of bioplastics, bio-composites, and hemp-based construction materials in Europe.
• HemPoland Sp. z o.o. (Green Roads) – HemPoland, a subsidiary of Green Roads, produces hemp extracts, oils, and dietary supplements for European and global markets. The company emphasizes organic cultivation, CO₂ extraction, and GMP-certified production for high-quality industrial hemp derivatives.
• HempMeds (Medical Marijuana, Inc.) – HempMeds operates under Medical Marijuana, Inc., offering CBD and hemp-based consumer products. The company plays a key role in global hemp trade and product innovation, particularly in nutraceutical and personal care applications.
• Blue Sky Hemp Ventures – Blue Sky Hemp Ventures, based in Canada, produces hemp-derived food ingredients, fiber materials, and cannabinoids. Its whole-plant utilization model maximizes efficiency and sustainability by processing all parts of the hemp plant for industrial and health applications.
• Colorado Hemp Works, Inc. – Colorado Hemp Works is the first commercial hemp grain processing facility in the United States, specializing in hemp seed oil, protein powders, and fiber products. The company promotes sustainable, locally sourced industrial hemp for the food and cosmetic industries.
• TerrAscend Corp. – TerrAscend is a North American company operating across hemp-derived wellness and cannabinoid-based products. While primarily known for its medical cannabis operations, TerrAscend’s industrial hemp segment focuses on CBD and wellness formulations compliant with industrial hemp regulations.
  

Segments Covered in the Report

By Product Type

• Hemp Fiber 
  • Textile-grade fiber for yarns and fabrics 
  • Industrial fiber for composites and insulation 
• Hemp Seeds 
  • Whole seeds and dehulled kernels 
  • Cold-pressed hempseed oil and protein powder 
• Cannabinoids (CBD, CBG, etc.) 
  • Full-spectrum CBD extracts 
  • Isolated cannabinoids for nutraceutical use 
• Hemp Hurds / Shives 
  • Hempcrete and animal bedding applications 
    

By Cultivation Type 

• Conventional Farming 
  • Field-based production for fiber and seed 
  • Mechanized harvesting and bulk drying 
• Organic Farming 
  • Chemical-free cultivation for food and nutraceutical markets 
  • Certified eco-label production systems 
• Controlled Environment Agriculture (CEA) 
  • Indoor and greenhouse CBD-focused cultivation 
  • Hydroponic and precision fertigation systems 
    

By End-use Industry 

• Textile & Apparel 
  • Clothing, footwear, and accessories 
  • Eco-fabrics and industrial textiles 
• Construction & Materials 
  • Hempcrete blocks and insulation panels 
  • Reinforced composites and bioplastics 
• Food & Beverage Manufacturers 
  • Plant-based protein producers and beverage formulators 
• Pharma & Wellness Companies 
  • CBD ingredient processors and supplement brands 

By Distribution Channel 

• B2B Supply Contracts 
  • Industrial buyers and ingredient manufacturers 
  • OEM textile, food, and pharma supply chains 
• Retail & E-commerce 
  • CBD wellness products and hemp-based foods 
  • Direct-to-consumer online platforms 

By Region

North America

• U.S.
• Canada

Asia Pacific

• China
• Japan
• India
• South Korea
• Thailand
  

Europe

• Germany
• UK
• France
• Italy
• Spain
• Sweden
• Denmark
• Norway

Latin America

• Brazil
• Mexico
• Argentina
  

Middle East and Africa (MEA)

• South Africa
• UAE
• Saudi Arabia
• Kuwait

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