Updated figures suggest that, despite the Covid-19 crisis, the global market for industrial hemp – estimated at US$5.3 billion in 2020 – is still projected to reach a revised US$13.8 billion by 2027.
According to Industrial Hemp – Global Market Trajectory & Analytics, the seeds segment is projected to record a 15.3% Compound Annual Growth Rate (CAGR) and reach US$8.9 billion by the end of the analysis period. After an early analysis of the business implications of the pandemic and its induced economic crisis, growth in the fibre segment is readjusted to a revised 13.5% CAGR for the next 7-year period.
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