What is the Historical Analysis of the Hemp Fiber Market Size?
The hemp fiber market has seen considerable growth due to a variety of factors.
• In recent years, the scale of the hemp fiber market has witnessed exponential growth. Predictions indicate that this trend will see the market expand from a worth of $15.09 billion in 2024 to amass a value of $20.77 billion in 2025. This signifies a compound annual growth rate (CAGR) of 37.7%.
Several factors have contributed to this historic period of growth, including a resurgence of interest in cultivating hemp, a growing conscious focus on environmental sustainability, increased demand from the textile and apparel industries, a shift towards diversification in farming, improvements in nutrient-rich soil, and a heightened awareness of sustainable textile options.
What Can Be Expected from the Hemp Fiber Market in the Coming Years?
The hemp fiber market is expected to maintain its strong growth trajectory in upcoming years.
• The market for hemp fiber is predicted to undergo significant expansion in the coming years, reaching a size of $71.96 billion by 2029 at a compound annual growth rate (CAGR) of 36.4%.
The anticipated growth during the forecast period is spurred by factors such as laws favoring hemp farming, worldwide population increase, emphasis on a circular economy, and the broadening scope of hemp-derived textiles. Trends expected to shape the forecast period are sustainable packaging using hemp fiber, progress in processing technologies, product development innovation, its use in the paper and pulp industry, and its amalgamation in the automotive and building sector.
What Are The Leading Drivers Of Growth In The Hemp Fiber Market?
The growth of the hemp fiber market is anticipated to be boosted by the increasing legalization of industrial hemp cultivation. Industrial hemp, derived from the Cannabis sativa plant species, is recognized worldwide for its applicability in creating numerous industrial and consumer goods. The cultivation of industrial hemp is primarily for the extraction of its fiber and seeds, which are utilized in the production of hemp fiber. Consequently, an increase in the authorization of industrial hemp will likely boost hemp fiber production. For example, data from the Australian Institute of Health and Welfare, a government agency based in Australia, showed in February 2024 that support for cannabis legalization increased to 45% in 2022-2023, for the first time surpassing the 39% who advocated for heightened penalties for selling or supplying cannabis. As a result, the growing endorsement of industrial hemp cultivation is contributing to the expansion of the hemp fiber market.
How Is the Hemp Fiber Market segmented?
The hemp fiber market covered in this report is segmented –
1) By Type: Long (Bast) Fibers, Short (Core) Fibers
2) By Source: Organic, Conventional
3) By Application: Food, Beverages, Personal Care Products, Textiles, Pharmaceuticals, Other Applications
Subsegments:
1) By Long (Bast) Fibers: Used In Textiles, Ropes, And Composite Materials, Known For Strength And Durability, Applications Include Apparel, Upholstery, And Industrial Textiles
2) By Short (Core) Fibers: Used In Insulation, Paper, And Biodegradable Plastics, Softer And Less Strong Compared To Long Fibers, Applications Include Animal Bedding, Insulation Materials, And Biocomposites
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What New Trends Are Influencing the Hemp Fiber Market?
Major players in the hemp fiber industry are innovating product lines, including hemp-infused menstrual care items, to gain a market advantage. Menstrual care goods pertain to a range of sanitary products devised to address menstrual flow throughout a woman’s monthly cycle. To illustrate, Regenerative International Female Inc., a personal care goods enterprise in the U.S, debuted a line of hemp-based menstrual care products in April 2022, introducing a green substitute in the feminine hygiene market. The company offers pads in three absorption levels that include a mix of hemp and organic cotton fibers for the topsheet, a core made of tree pulp without any super absorbent polymers (SAP), and a fully decomposable backsheet made from sugar-based plastic. The firm emphasizes the antibacterial benefits of hemp and aims to improve pad absorbency by collaborating with biotech partners. This in turn provides a more sustainable and comfortable option for women looking for substitutes to synthetic materials in menstrual care.
Who Are the Key Players in the Hemp Fiber Market?
Major companies operating in the hemp fiber market include:
• Shenyang beijiang
• BaFa Holding BV
• Plains Industrial Hemp Processing Ltd
• Industrial Hemp Manufacturing LLC
• Hemp Oil Canada Inc.
• Hemp Planet LLC
• North American Hemp & Grain Co. Ltd.
• Konoplex
• Kingdom Holdings Limited
• Ecofibre Limited
• GenCanna Global USA Inc.
• CanvaLoop Fibre Private Limited
• HempFlax BV
• Dunagro SRL
• MH medical hemp Ltd.
• Envirotextiles LLC
• Hempco Inc.
• Manitoba Harvest Hemp Foods
• Hempfortex Industries Ltd
• Parkland Industrial Hemp Growers Cooperative Ltd
• Navitas LLC
• Hemp Inc.
• Natural Fiber Technologies Inc.
• HempAge AG
• Hempro Int. GmbH & Co. KG
• Hempy’s
• Shanxi Greenland Textile Co. Ltd.
• HemPoland Sp. z o.o.
• Hempline Inc.
What Is The Most Dominant Region In The Hemp Fiber Market?
Asia-Pacific was the largest region in the hemp fiber market in 2024. The regions covered in the hemp fiber market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
