According to the research report titled ‘Global Hemp Pulp Market Size study with COVID Impact, by Application Tobacco Industry, Food Industry, Electrical & Electronic Industry, Medical & Cosmetics, Bank notes & Security Papers and others) and Regional Forecasts 2020-2027’ available with Market Study Report, global hemp pulp market is expected to generate considerable revenues during 2020-2027.
 

Notably, hemp pulp seed oil is utilized in plastics, fuel, paints, inks, and lubricants whereas hemp oil is used as a constituent in body care products including shampoos, moisturizers, and lotions.
 

Factors such as rising consumer awareness regarding the health benefits of hemp products such as mood stability, improved heart, joint and skin health, and insulin balance along with abundance of omega 3, omega 6, proteins, and amino acids in the products are bolstering the growth of global hemp pulp market.
 

Moreover, increasing adoption of hemp pulp across various verticals such as furniture, paper, construction & materials, personal care, foods & beverages, pharmaceuticals, and textiles are stimulating the overall market outlook.
 

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Emergence of new establishments in the industry are further fostering the market expansion. However, constantly changing hemp-related regulations pertaining to CBD (cannabidiol) and THC (tetrahydrocannabinol) along with intricate regulatory framework pertaining to industrial usage of hemp are impeding the growth of the market.
 

From a regional frame of reference, Asia-Pacific accounted the largest market share in the year 2018 and is expected to grow significantly in the ensuing years. Rapid development in the personal care products and cosmetics vertical coupled with legalization of hemp in food supplements are fueling the growth of the regional market over the forecast period.
 

On the other hand, Europe hemp pulp market is anticipated to register the highest CAGR over 2020-2027, owing to legalization of industrial hemp along with increasing consumption of the product through foods such as cereals, bars, predominantly in Netherlands and Germany.
 

The companies that define the competitive landscape of worldwide hemp pulp market are Konoplex LLC, HempFlax BV, GenCanna, Hemp Inc., Ecofibre Limited, Hempco Food and Fiber Inc., Natural Emphasis, Ltd., PureHemp Technology LLC, Schweitzer-Mauduit International, Inc., Cheney Pulp & Paper Company, Crane & Co., Inc., and Celesa SA among others.