According to the latest report by IMARC Group, titled “North America Hemp Market: Industry Trends, Share, Size, Growth, Opportunity and Forecast 2021-2026,” the North America Hemp Market Report expected to grow at a CAGR of around 18% during 2021-2026.
Hemp is a small, brown oilseed obtained from the Cannabis Sativa plant. It is rich in healthy fats, proteins, minerals, fibers and antioxidants. It is commonly used to enhance metabolism, boost immunity, reduce anxiety, and treat chronic pain. Consequently, it finds application in the production of pharmaceuticals, nutritional supplements, cosmetics, and food and beverages across the North American region.