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SPECIAL REPORTS
Mar 31, 2021
EU Hemp Market
This report is a series of estimates on the market values of hemp-based products in the EU from 2020-2030. The market values estimates are accompanied by associated demands on hemp from each segment.
Introduction
The introduction presents a summary of the results for all segments covered in this report (CBD, hemp bioplastics, insulation and hemp concrete). Aggregate values are also provided. The value of all hemp-based product markets combined is € 1.62 billion in 2020, increasing to € 6.3 and € 8.8 billion in 2025 and 2030 respectively. This equals a total hemp demand of 83,200 tonnes in 2020.
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The EU CBD Markets
This chapter presents the market values of all CBD subsegments in each EU Member State. Market valuations are based on consumer preferences specific to each Member State. The total EU CBD market value is € 1.6 billion in 2020 increasing to €8.7 billion in 2030. Particular focus is paid to the large markets of Germany and the UK.
Hemp plastics
Hemp plastics are discussed in this report from the perspective of the automotive industry. This market is valued at € 29 million in 2020, increasing by a third to € 44 million in 2030. Estimated are based on growth in the sales of EU-manufactured cars and the discussion around use of plant-based bioplastics in the replacement of plastics.
Hemp wool insulation
This chapter presents market valuations of the hemp home insulation market. The market is valued at € 13 million in 2020, nearly doubling to € 24 million by 2025. Further rapid growth may be limited by the technical limitations of hemp-based insulation relative to mineral wool and rockwool.
Hemp concrete
This chapter discusses use of hemp-based concrete known as hempcrete. The market is valued at € 1.5 million in 2020. Though a niche segment, the market could double in size by 2030 based on the growth of the last ten years.
Appendix
The appendix provides some reference information relating to the CBD market valuations by Member State.
This article was published by S&P Global Commodity Insights and not by S&P Global Ratings, which is a separately managed division of S&P Global.
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