HEMP FIBER MARKET

KEY FINDINGS

• Boosting the R&D on hemp cultivation techniques, breed high-yield varieties, and develop of new uses of hemp fibers will lead to technological breakthroughs and the growth of the market. 
• By putting in place supportive government policies, subsidies, and regulatory frameworks that focus on hemp cultivation, industrial processing, and use, the government will create a conducive environment that will promote market growth for the hemp fiber sector through attracting investments and innovations in the sector. 
• Global markets for hemp fiber products were experiencing a surge in demand with improving trade agreements and market liberalization and this is going to change the look of the global market and give opportunity to hemp producing regions to export to the international markets. 
• With the more countries that legalize the cultivation of hemp and acknowledge its industrial potential, the hemp fiber market is going to face the substantial growth, which is based on the expanded production and the market access. 
• There is the growth of consumer understanding and the urge to embrace products that are sustainable and ecological, especially in the fashion and apparel industry. This trend presents significant opportunities for hemp fibers well known for their incredible durability, breathability, and bio-degradability to provide outlets and get into the textile markets as viable alternatives to existing ones like cotton. 
• Manufacturers can use hemp fibers as a sustainable and biodegradable option that might replace synthetic materials, in many industries such as automotive, construction, and packaging, where the emission level will be reduced and there will be a substitute of materials as a result. 
• North America dominates the global hemp fiber market due to legalization of industrial hemp cultivation in the U.S. and the increasing use of hemp in various industries, including textiles, automotive, and construction. 
• Asia-Pacific is expected to witness the fastest growth during the forecast period 2023-2030 due to increasing demand of hemp fiber in textiles, paper, and various industrial applications. 

HEMP FIBER MARKET INTRODUCTION

The fibrous substance derived from the hemp plant's (Cannabis sativa) stem is referred to as hemp fibre. One of the oldest and most useful natural fibers that civilization is aware of. For thousands of years, hemp has been grown for a variety of uses, including the manufacturing of fibre.

Here are a few important details concerning hemp fibre:

Hemp fibre is renowned for its excellent strength and durability. It is frequently compared to flax and jute fibers as one of the strongest natural fibers. It is well known that hemp textiles and goods created with hemp fibre are durable.

Versatility: A variety of items may be made from hemp fibre, including textiles, paper, rope, twine, canvas, netting, and more. Hemp fibre is a useful material because of its adaptability. Hemp is regarded as a crop that is favorable to the environment. Compared to other fibre crops, it grows rapidly and needs less water, pesticides, and herbicides. Hemp also grows strong roots that enhance soil quality and reduce soil erosion.

Hemp is an exceptionally sustainable and renewable resource. Being able to be harvested in 90 to 120 days makes it a crop with a rapid rate of growth. In comparison to other fibre crops, hemp plants yield a lot of fibre per acre.

Comfort and Breathability: Hemp materials are renowned for their comfort and breathability. They are good at wicking away moisture, keeping the user dry and cool. Additionally hypoallergenic and mold and mildew resistant, hemp textiles are great.

Applications in Numerous Industries: Hemp fibre has a wide range of uses. It is utilized in a variety of products outside textiles and paper, including as building materials, automobile parts, bio-composites, and animal bedding. To improve the qualities of other fibers like cotton, silk, and wool, hemp fibre can also be combined with them.

HEMP FIBER MARKET SIZE AND FORECAST

The Global Hemp Fiber Market accounted for $XX Billion in 2023 and is anticipated to reach $XX Billion by 2030, registering a CAGR of XX% from 2024 to 2030.

HEMP FIBER MARKETDYNAMICS

One of the main reasons fueling the expansion of the global hemp fibre market is the growing usage of hemp fibers in the textile sector. Hemp has been utilized as a natural fibre source for textiles and garments since the early Middle Ages. Contrary to cotton, which requires a lot of water, artificial fertilizers, and pesticides to thrive, hemp grows swiftly since it is a weed. It naturally wards off insects while growing swiftly and cleanly.

When used to make garments, hemp fibre is more tough and long-lasting than cotton or synthetic fibers. Fabric derived from hemp was used to make Levi Strauss' first pair of jeans.Hemp fibres are strong and have a lot of hemicellulose in them. Significant characteristics of hemp fibres include their great capacity for absorption as well as their favourable thermal and electrical characteristics, which include low static electricity charge and high heat of sorption.

As a result, hemp is used to make fine textiles, garments, fabrics, denim, and other products, which raises the need for hemp fibre in the textile industry. These reasons will likely cause the textile sector of the target market to expand throughout the projected period. Numerous techniques are used to generate hemp fibre, which is then combined with complementing yarns. It has higher insulating characteristics and is lighter than synthetic fibers. Hemp fibre will gain waterproof and windproof properties through chemical changes, enhancing its adaptability. 

Hemp is a great material for outdoor clothing because of qualities like UV and mold resistance. Additionally, hemp is combined with other fibers to provide clothing with different properties. Therefore, throughout the projected period, the global hemp fibre market will expand due to the rising usage of hemp fibre in the apparel sector.The expansion of the global hemp fibre market would be fueled by the rising demand from the paper and pulp sector. Hemp fibre is now being utilized more and more in the paper and pulp sector. Wood pulp is frequently taken from trees (such as pine, eucalyptus, and spruce) and used to make paper and cardboard.

to the enormous demand for paper pulp, particularly in emerging countries, forest acreage and cover have decreased globally, which might dangerously deplete this natural resource. Hemp is a suitable choice as a raw material for creating paper since its chemical makeup is comparable to that of wood. Hemp pulp may be used to make paper and cardboard instead of wood pulp. Hemp paper is made from a blend of bast and hurd fibers.

Although hemp is used more often in a variety of applications, farmers throughout the world have struggled to produce it. Certain environmental requirements must be met in order to produce hemp, including a temperate climate, a humid atmosphere, at least 25 to 30 inches of annual rainfall, well-drained loam soils, and compact soils.

Additionally, hemp cultivation presents regulatory difficulties since there are not many genetic variations between hemp and marijuana and because marijuana is regarded as a harmful narcotic by the US federal authorities. Due to marijuana's high THC level, its manufacturing is prohibited in many nations, including the US. The production of hemp presents a significant issue since farmers are unsure of the differences between the components of hemp and marijuana. During the forecast period, these factors are anticipated to restrain the development of the world market for hemp fibre. 

HEMP FIBER MARKET NEW PRODUCT DEVELOPMENT

HEMP FIBER MARKET COMPANY PROFILES

• Hempco  
• CBD Biotechnology Co., Ltd.  
• Ecofibre  
• Hemp Inc  
• GenCanna 

HEMP FIBER MARKETREPORT WILL ANSWER FOLLOWING QUESTIONS

1. How many hemp fiber are manufactured per annum globally? Who are the sub-component suppliers in different regions?
2. Cost breakup of a  Global hemp fiber and key vendor selection criteria
3. Where is the hemp fiber manufactured? What is the average margin per unit?
4. Market share of Global hemp fiber market  manufacturers and their upcoming products
5. Cost advantage for OEMs who manufacture Global hemp fiber in-house
6. 5 key predictions for next 5 years in Global pole mounted transformer market
7. Average B-2-B hemp fiber market price in all segments
8. Latest trends in hemp fiber market, by every market segment
9. The market size (both volume and value) of the hemp fiber market in 2024-2030 and every year in between?
10. Production breakup of hemp fiber market, by suppliers and their OEM relationship