The Global Industrial Hemp Market was valued at USD 4,638.6 million in 2018 and is expected to reach USD 16,758.9 million in 2026, growing at a CAGR of 17.0% during the forecast period.
Industrial hemp is extracted from the cannabis Sativa and widely adopted worldwide for the production of a variety of industrial and consumer products. Hemp is a great source of fiber and oilseed in the global market. The production and consumption of hemp are characterized under the drug enforcement laws based out country-wise. For instance, in the US, the permit for the production of industrial hemp is permitted by the Drug Enforcement Agency (DEA).
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