Hemp Fiber Market - Global Industry Size, Share, Trends, Opportunity, and Forecast, 2018-2028 Segmented By Source (Organic, Conventional), By Application (Food, Beverages, Personal Care Products, Textiles, Pharmaceuticals, Others), By Region, and By Competition

  • Industry : Agriculture
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  • Published Date : NA
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Summary

Report Description

Forecast Period

2024-2028

Market Size (2022)

USD 378.56 million

CAGR (2023-2028)

7.00%

Fastest Growing Segment

Organic

Largest Market

North America


Market Overview

Global Hemp Fiber Market has valued at USD 378.56 million in 2022 and is anticipated to project impressive growth in the forecast period with a CAGR of 7.00% through 2028. The global hemp fiber market has been witnessing significant growth due to increasing awareness of the environmental benefits of hemp and its versatile applications. Hemp fibers are derived from the stalks of the hemp plant (Cannabis sativa) and have gained attention as a sustainable alternative to traditional fibers like cotton and synthetic materials.

Key Market Drivers

Rising Demand for Sustainable Materials

In an era where sustainability is paramount, the global demand for eco-friendly alternatives has paved the way for the resurgence of hemp as a versatile and sustainable material. As the world grapples with environmental challenges, the hemp fiber market stands poised for substantial growth, driven by the increasing appetite for sustainable materials.

With environmental awareness reaching new heights, consumers are making conscious choices to minimize their ecological footprint. Hemp, a plant that requires minimal pesticides and synthetic fertilizers, is gaining traction as a sustainable alternative. As consumers actively seek eco-friendly products, the demand for hemp fibers, known for their low environmental impact, is experiencing a significant upswing.

The textile industry, a major consumer of natural fibers, is undergoing a transformative shift towards sustainable practices. Hemp fibers, with their durability and breathability, are becoming a preferred choice for environmentally conscious fashion brands. The demand for sustainable and ethically sourced textiles is a key driver in boosting the global hemp fiber market.

The traditional textile industry has long relied on fibers like cotton, which often involve heavy use of pesticides and water. As concerns over water scarcity and chemical pollution rise, industries are seeking alternatives. Hemp, known for its ability to grow in diverse climates with minimal water requirements and without the need for extensive chemical inputs, presents a compelling solution, reducing the dependence on traditional, resource-intensive fibers.

Changing regulatory landscapes worldwide are contributing to the growth of the hemp fiber market. Many countries are recognizing the economic and environmental benefits of hemp cultivation, leading to supportive policies and legalization. This, in turn, facilitates a more streamlined supply chain, boosting the availability of hemp fibers for various industries.

Advances in processing technologies are enhancing the efficiency of hemp fiber extraction. Innovations in decortication and processing methods are not only making the production of hemp fibers more cost-effective but also improving the quality of the final product. This technological progress is crucial in meeting the rising demand for sustainable materials.

Textile Industry Embrace

The textile industry, a behemoth in the global economy, is undergoing a profound transformation driven by a growing commitment to sustainability. At the forefront of this revolution is the increasing embrace of hemp fibers, touted for their eco-friendly characteristics.

Sustainability is no longer a niche concern but a central theme shaping consumer choices. As fashion enthusiasts become more environmentally conscious, the textile industry is responding by incorporating sustainable materials into its production processes. Hemp fibers, with their low environmental impact, are fast becoming the textile industry's choice for sustainable and stylish fabrics.

Hemp fibers offer a unique combination of durability, breathability, and antimicrobial properties, making them ideal for the production of textiles. Clothing made from hemp fibers is not only long-lasting but also provides comfort, ensuring a positive consumer experience. This inherent versatility is a key factor driving the textile industry's embrace of hemp.

Traditionally, the textile industry heavily relied on conventional fibers like cotton, which often involve extensive water usage and pesticide applications. The shift towards hemp fibers allows the industry to reduce its dependence on these resource-intensive materials. Hemp cultivation requires less water, minimal pesticides, and grows more quickly, offering a more sustainable alternative.

Consumer preferences are evolving, with a significant portion of the market expressing a preference for sustainable and ethically produced goods. The textile industry's adoption of hemp fibers aligns with this demand, demonstrating a commitment to meeting consumer expectations for eco-friendly and socially responsible products.

The textile industry is increasingly focusing on circular economy principles, emphasizing the recyclability and biodegradability of materials. Hemp fibers, being natural and biodegradable, contribute to the industry's efforts to reduce environmental impact and move towards a more sustainable, circular model of production and consumption.

Technological Advancements in Processing

In the dynamic landscape of sustainability and innovation, technological advancements are playing a pivotal role in reshaping industries. The global hemp fiber market is no exception, experiencing a significant boost from continuous progress in processing technologies.

One of the critical aspects influencing the growth of the hemp fiber market is the efficiency of fiber extraction. Technological advancements in decortication, the process of separating the fibers from the hemp stalks, have greatly improved. Modern machinery and equipment are now capable of extracting fibers with higher yields, minimizing waste and optimizing the use of the raw material.

Technological innovations are addressing historical concerns about the coarseness of hemp fibers. Advanced processing methods are designed to enhance the quality of hemp fibers, making them softer and more pliable. This development is crucial in expanding the application of hemp fibers beyond traditional uses, such as in textiles and ropes, to more refined and delicate products.

Automation has become a driving force in the processing of hemp fibers. Automated systems not only streamline production but also ensure precision in the extraction and processing phases. This results in consistent fiber quality, reduces the margin of error, and increases overall productivity, making hemp fibers more attractive for various industries.

Decortication, a key step in separating hemp fibers from the hurd (the woody inner part of the stem), has seen notable innovations. Improved decortication technologies enable faster and more efficient separation, contributing to increased production capacities and scalability. This is essential for meeting the rising demand for hemp fibers in various sectors.

Sustainable processing methods are gaining prominence in the hemp fiber industry. Technologies that minimize water usage, energy consumption, and waste generation are becoming standard. This aligns with the overall ethos of hemp as an eco-friendly material and contributes to a more sustainable and responsible supply chain.

Diversification of End-Use Applications

The global hemp fiber market is undergoing a transformative phase, breaking away from traditional constraints and finding new avenues for growth through the diversification of end-use applications.

Historically, hemp fibers have been synonymous with textiles, offering durability and breathability. However, the textile industry is now just one facet of the diverse applications for hemp fibers. As pioneers in embracing hemp, the textile sector has set the stage for other industries to explore the unique properties of these fibers.

The automotive industry is increasingly turning to hemp fibers as a reinforcement material for composites. Hemp composites exhibit impressive strength-to-weight ratios, making them ideal for manufacturing lightweight components. This application not only contributes to fuel efficiency but also aligns with the industry's push for sustainable materials.

Hemp fibers are making inroads into the construction sector. Used as reinforcement in composites and building materials, hemp fibers enhance the structural integrity of products while offering a sustainable alternative to traditional materials. This diversification supports the construction industry's commitment to eco-friendly practices.

In response to the global movement against single-use plastics, hemp fibers are emerging as a sustainable solution for packaging materials. The biodegradability of hemp fibers makes them an attractive option for environmentally conscious packaging, aligning with the broader goals of reducing plastic waste.

Hemp fibers are finding applications in the development of biodegradable plastics. Blending hemp fibers with bioplastics creates a composite material that retains the strength and durability of traditional plastics but decomposes more rapidly, addressing concerns about plastic pollution and waste.


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Key Market Challenges

Misconceptions and Stigma

One of the primary challenges faced by the hemp fiber market is the lingering association with marijuana. Despite hemp containing only trace amounts of THC (the psychoactive compound in marijuana), misconceptions and stigma persist. Overcoming this hurdle requires extensive education and awareness campaigns to differentiate industrial hemp from its recreational counterpart.

Limited Cultivation Knowledge

Hemp cultivation demands specific knowledge and expertise. Many regions with a history of restrictive hemp regulations may lack the expertise needed for successful cultivation. Educating farmers about best practices in hemp cultivation, harvesting, and processing is crucial for ensuring a consistent and high-quality supply of hemp fibers.

Inconsistent Quality Standards

The hemp fiber market faces challenges related to inconsistent quality standards. As the industry grows, establishing and adhering to universally recognized quality benchmarks becomes imperative. Standardizing processes and ensuring product consistency will enhance consumer trust and confidence in hemp fiber products.

Key Market Trends

Increased Research and Development

A notable trend in the global hemp fiber market is the increasing focus on research and development. With growing interest and demand, stakeholders are investing in innovative technologies and processes to enhance the efficiency of hemp cultivation, fiber extraction, and product development. Expect to see breakthroughs that further optimize the utilization of hemp fibers across various industries.

Advancements in Processing Technologies

Technological advancements are set to play a pivotal role in the growth of the hemp fiber market. Innovations in decortication, fiber extraction, and processing methods are anticipated, leading to improved quality, cost-effectiveness, and scalability. Enhanced processing technologies will contribute to the expansion of hemp fiber applications in diverse industries.

Integration of Hemp into Mainstream Agriculture

As regulatory landscapes evolve and misconceptions about hemp dissipate, an upcoming trend is the integration of hemp cultivation into mainstream agriculture. Farmers globally are recognizing the economic and environmental benefits of hemp, leading to increased cultivation. This trend will contribute to a more stable and expansive supply of hemp fibers for the market.

Segmental Insights

Source Insights

Based on the category of Source, Organic hemp fiber is poised to dominate the global market for several compelling reasons. Firstly, the increasing global emphasis on sustainability and eco-friendly practices has led consumers and businesses alike to prioritize organic and environmentally conscious products. Organic hemp cultivation aligns with these values, as it involves minimal use of synthetic pesticides and fertilizers, reducing the environmental impact compared to conventional farming methods. Secondly, the growing awareness of health and wellness benefits associated with organic products has driven demand for organic hemp fiber. Consumers are increasingly seeking products free from chemical residues, making organic hemp an attractive choice. Thirdly, the textile industry's shift towards sustainable and biodegradable materials has positioned organic hemp fiber as a frontrunner, offering a renewable resource that requires less water and land compared to traditional crops. As regulatory frameworks worldwide evolve to support sustainable practices, businesses investing in organic hemp are likely to gain a competitive edge in the burgeoning global hemp fiber market.

Application Insights

Food is anticipated to dominate as a primary application in the global hemp fiber market for various compelling reasons. Firstly, the nutritional profile of hemp fibers is gaining recognition, with rich sources of essential fatty acids, proteins, and other vital nutrients. As consumer awareness of the health benefits associated with hemp-derived food products increases, the demand for hemp fiber in the food industry is expected to surge. Additionally, the versatility of hemp fibers allows for their incorporation into a wide range of food products, including snacks, cereals, and beverages, providing manufacturers with an innovative and sustainable ingredient. Furthermore, the rising trend of plant-based diets and the demand for alternative protein sources align seamlessly with hemp fibers, positioning them as a key player in the food industry's pursuit of sustainable and nutritious solutions. As regulatory environments evolve to accommodate hemp-based food products, businesses investing in the integration of hemp fibers are likely to capitalize on the growing consumer preference for healthy and sustainable food options on a global scale.


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Regional Insights

North America is poised to dominate the global hemp fiber market for several compelling reasons. Firstly, the region has experienced a notable shift in regulatory attitudes towards hemp cultivation, with an increasing number of states and provinces legalizing industrial hemp production. This regulatory evolution has unlocked the vast potential of hemp cultivation for fiber, positioning North America as a major player in the global market. Secondly, the region's well-established agricultural infrastructure, advanced processing technologies, and a robust supply chain contribute to the efficient production and distribution of hemp fiber products. Thirdly, the growing consumer awareness and acceptance of hemp-derived products, driven by an increasing preference for sustainable and eco-friendly solutions, further propel North America as a dominant force in the global hemp fiber market. Additionally, the region's commitment to innovation and research in hemp-based applications, including textiles, automotive components, and construction materials, positions it at the forefront of industry development. As North America continues to lead in regulatory support, infrastructure, and consumer demand, it is poised to maintain its dominance in the global hemp fiber market.

Recent Developments

  • In September 2022, Ananda Food unveiled the Ananda Hemp Extract Oral Spray, marking a strategic move to broaden its nutraceuticals product range. The oral spray is positioned as a solution for stress management and exercise recovery.
  • In March 2022, HempFusion entered into a partnership with earthday.org to support the environmental sustainability-focused regeneration campaign.
  • In June 2021, Hempfusion Wellness introduced the CBD 5:1 tinctures in a raspberry lemon flavor, expanding its existing line of tinctures by combining full spectrum CBD with CBG and CBN.
  • February 2021 saw Canopy Growth Corporation finalize the acquisition of Supreme Cannabis Company, a strategic move aimed at expanding its product portfolio and distribution channels.
  • In May 2020, Canopy Growth Corporation launched First & Free, a hemp-derived CBD product line comprising oils, softgels, and creams, catering to health, wellness, and self-care needs while being THC-free.
  • Finally, in January 2020, Charlotte’s Web announced a distribution partnership with The Vitamin Shoppe for its hemp CBD topical creams, gummies, and oil tinctures.

Key Market Players

  • Hempco Food & Fiber Inc
  • CBD Biotechnology Co Ltd
  • Ecofibre Ltd
  • Hemp Inc
  • GenCanna
  • HempFlax BV
  • Hemp Oil Canada Inc
  • HemPoland Sp. z o.o.
  • Dun Agro Hemp Group
  • Colorado Hemp Works, LLC

 By Source

By Application

By Region
  • Organic
  • Conventional
  • Food
  • Beverages
  • Personal Care Products
  • Textiles
  • Pharmaceuticals
  • Others
  • North America
  • Europe
  • Asia-Pacific
  • South America
  • Middle East & Africa

 

Report Scope:

In this report, the Global Hemp Fiber Market has been segmented into the following categories, in addition to the industry trends which have also been detailed below:

  • Hemp Fiber Market, By Source:

o   Organic

o   Conventional

  • Hemp Fiber Market, By Application:

o   Food

o   Beverages

o   Personal Care Products

o   Textiles

o   Pharmaceuticals

o   Others

  • Hemp Fiber Market, By Region:

o   North America

§  United States

§  Canada

§  Mexico

o   Europe

§  Germany

§  United Kingdom

§  France

§  Italy

§  Spain

o   Asia-Pacific

§  China

§  Japan

§  India

§  Australia

§  South Korea

o   South America

§  Brazil

§  Argentina

§  Colombia

o   Middle East & Africa

§  South Africa

§  Saudi Arabia

§  UAE

§  Kuwait

Competitive Landscape

Company Profiles: Detailed analysis of the major companies present in the Global Hemp Fiber Market.

Available Customizations:

Global Hemp Fiber market report with the given market data, Tech Sci Research offers customizations according to a company's specific needs. The following customization options are available for the report:

Company Information

  • Detailed analysis and profiling of additional market players (up to five).

Global Hemp Fiber Market is an upcoming report to be released soon. If you wish an early delivery of this report or want to confirm the date of release, please contact us at [email protected]

Table of content

1.    Product Overview

1.1.  Market Definition

1.2.  Scope of the Market

1.2.1.    Markets Covered

1.2.2.    Years Considered for Study

1.2.3.    Key Market Segmentations

2.    Research Methodology

2.1.  Objective of the Study

2.2.  Baseline Methodology

2.3.  Key Industry Partners

2.4.  Major Association and Secondary Sources

2.5.  Forecasting Methodology

2.6.  Data Triangulation & Validation

2.7.  Assumptions and Limitations

3.    Executive Summary

3.1.  Overview of the Market

3.2.  Overview of Key Market Segmentations

3.3.  Overview of Key Market Players

3.4.  Overview of Key Regions/Countries

3.5.  Overview of Market Drivers, Challenges, Trends

4.    Voice of Customer

5.    Global Hemp Fiber Market Outlook

5.1.  Market Size & Forecast

5.1.1.    By Value

5.2.  Market Share & Forecast

5.2.1.    By Source (Organic, Conventional)

5.2.2.    By Application (Food, Beverages, Personal Care Products, Textiles, Pharmaceuticals, Others)

5.2.3.    By Region

5.2.4.    By Company (2022)

5.3.  Product Market Map

5.3.1.    By Source

5.3.2.    By Application

5.3.3.    By Region

6.    North America Hemp Fiber Market Outlook

6.1.  Market Size & Forecast       

6.1.1.    By Value

6.2.  Market Share & Forecast

6.2.1.    By Source (Organic, Conventional)

6.2.2.    By Application (Food, Beverages, Personal Care Products, Textiles, Pharmaceuticals, Others)

6.2.3.    By Country

6.3.  North America: Country Analysis

6.3.1.    United States Hemp Fiber Market Outlook

6.3.1.1.        Market Size & Forecast

6.3.1.1.1.           By Value

6.3.1.2.        Market Share & Forecast

6.3.1.2.1.           By Source

6.3.1.2.2.           By Application

6.3.2.    Canada Hemp Fiber Market Outlook

6.3.2.1.        Market Size & Forecast

6.3.2.1.1.           By Value

6.3.2.2.        Market Share & Forecast

6.3.2.2.1.           By Source

6.3.2.2.2.           By Application

6.3.3.    Mexico Hemp Fiber Market Outlook

6.3.3.1.        Market Size & Forecast

6.3.3.1.1.           By Value

6.3.3.2.        Market Share & Forecast

6.3.3.2.1.           By Source

6.3.3.2.2.           By Application

7.    Europe Hemp Fiber Market Outlook

7.1.  Market Size & Forecast       

7.1.1.    By Value

7.2.  Market Share & Forecast

7.2.1.    By Source (Organic, Conventional)

7.2.2.    By Application (Food, Beverages, Personal Care Products, Textiles, Pharmaceuticals, Others)

7.2.3.    By Country

7.3.  Europe: Country Analysis

7.3.1.    Germany Hemp Fiber Market Outlook

7.3.1.1.        Market Size & Forecast

7.3.1.1.1.           By Value

7.3.1.2.        Market Share & Forecast

7.3.1.2.1.           By Source

7.3.1.2.2.           By Application

7.3.2.    United Kingdom Hemp Fiber Market Outlook

7.3.2.1.        Market Size & Forecast

7.3.2.1.1.           By Value

7.3.2.2.        Market Share & Forecast

7.3.2.2.1.           By Source

7.3.2.2.2.           By Application

7.3.3.    France Hemp Fiber Market Outlook

7.3.3.1.        Market Size & Forecast

7.3.3.1.1.           By Value

7.3.3.2.        Market Share & Forecast

7.3.3.2.1.           By Source

7.3.3.2.2.           By Application

7.3.4.    Italy Hemp Fiber Market Outlook

7.3.4.1.        Market Size & Forecast

7.3.4.1.1.           By Value

7.3.4.2.        Market Share & Forecast

7.3.4.2.1.           By Source

7.3.4.2.2.           By Application

7.3.5.    Spain Hemp Fiber Market Outlook

7.3.5.1.        Market Size & Forecast

7.3.5.1.1.           By Value

7.3.5.2.        Market Share & Forecast

7.3.5.2.1.           By Source

7.3.5.2.2.           By Application

8.    Asia-Pacific Hemp Fiber Market Outlook

8.1.  Market Size & Forecast       

8.1.1.    By Value

8.2.  Market Share & Forecast

8.2.1.    By Source (Organic, Conventional)

8.2.2.    By Application (Food, Beverages, Personal Care Products, Textiles, Pharmaceuticals, Others)

8.2.3.    By Country

8.3.  Asia-Pacific: Country Analysis

8.3.1.    China Hemp Fiber Market Outlook

8.3.1.1.        Market Size & Forecast

8.3.1.1.1.           By Value

8.3.1.2.        Market Share & Forecast

8.3.1.2.1.           By Source

8.3.1.2.2.           By Application

8.3.2.    Japan Hemp Fiber Market Outlook

8.3.2.1.        Market Size & Forecast

8.3.2.1.1.           By Value

8.3.2.2.        Market Share & Forecast

8.3.2.2.1.           By Source

8.3.2.2.2.           By Application

8.3.3.    India Hemp Fiber Market Outlook

8.3.3.1.        Market Size & Forecast

8.3.3.1.1.           By Value

8.3.3.2.        Market Share & Forecast

8.3.3.2.1.           By Source

8.3.3.2.2.           By Application

8.3.4.    Australia Hemp Fiber Market Outlook

8.3.4.1.        Market Size & Forecast

8.3.4.1.1.           By Value

8.3.4.2.        Market Share & Forecast

8.3.4.2.1.           By Source

8.3.4.2.2.           By Application

8.3.5.    South Korea Hemp Fiber Market Outlook

8.3.5.1.        Market Size & Forecast

8.3.5.1.1.           By Value

8.3.5.2.        Market Share & Forecast

8.3.5.2.1.           By Source

8.3.5.2.2.           By Application

9.    South America Hemp Fiber Market Outlook

9.1.  Market Size & Forecast       

9.1.1.    By Value

9.2.  Market Share & Forecast

9.2.1.    By Source (Organic, Conventional)

9.2.2.    By Application (Food, Beverages, Personal Care Products, Textiles, Pharmaceuticals, Others)

9.2.3.    By Country

9.3.  South America: Country Analysis

9.3.1.    Brazil Hemp Fiber Market Outlook

9.3.1.1.        Market Size & Forecast

9.3.1.1.1.           By Value

9.3.1.2.        Market Share & Forecast

9.3.1.2.1.           By Source

9.3.1.2.2.           By Application

9.3.2.    Argentina Hemp Fiber Market Outlook

9.3.2.1.        Market Size & Forecast

9.3.2.1.1.           By Value

9.3.2.2.        Market Share & Forecast

9.3.2.2.1.           By Source

9.3.2.2.2.           By Application

9.3.3.    Colombia Hemp Fiber Market Outlook

9.3.3.1.        Market Size & Forecast

9.3.3.1.1.           By Value

9.3.3.2.        Market Share & Forecast

9.3.3.2.1.           By Source

9.3.3.2.2.           By Application

10. Middle East and Africa Hemp Fiber Market Outlook

10.1.             Market Size & Forecast        

10.1.1. By Value

10.2.             Market Share & Forecast

10.2.1. By Source (Organic, Conventional)

10.2.2. By Application (Food, Beverages, Personal Care Products, Textiles, Pharmaceuticals, Others)

10.2.3. By Country

10.3.             MEA: Country Analysis

10.3.1. South Africa Hemp Fiber Market Outlook

10.3.1.1.     Market Size & Forecast

10.3.1.1.1.         By Value

10.3.1.2.     Market Share & Forecast

10.3.1.2.1.         By Source

10.3.1.2.2.         By Application

10.3.2. Saudi Arabia Hemp Fiber Market Outlook

10.3.2.1.     Market Size & Forecast

10.3.2.1.1.         By Value

10.3.2.2.     Market Share & Forecast

10.3.2.2.1.         By Source

10.3.2.2.2.         By Application

10.3.2.2.3.         By End User

10.3.3. UAE Hemp Fiber Market Outlook

10.3.3.1.     Market Size & Forecast

10.3.3.1.1.         By Value

10.3.3.2.     Market Share & Forecast

10.3.3.2.1.         By Source

10.3.3.2.2.         By Application

10.3.4. Kuwait Hemp Fiber Market Outlook

10.3.4.1.     Market Size & Forecast

10.3.4.1.1.         By Value

10.3.4.2.     Market Share & Forecast

10.3.4.2.1.         By Source

10.3.4.2.2.         By Application

11. Market Dynamics

11.1.             Drivers

11.2.             Challenges

12. Market Trends & Developments

12.1.             Recent Development

12.2.             Mergers & Acquisitions

12.3.             Product Launches

13. Porter’s Five Forces Analysis

13.1.             Competition in the Industry

13.2.             Potential of New Entrants

13.3.             Power of Suppliers

13.4.             Power of Customers

13.5.             Threat of Substitute Products

14. Competitive Landscape

14.1.             Business Overview

14.2.             Product Offerings

14.3.             Recent Developments

14.4.             Financials (As Reported)

14.5.             Key Personnel

14.6.             SWOT Analysis

14.6.1.  Hempco Food & Fiber Inc

14.6.2.  CBD Biotechnology Co Ltd

14.6.3.  Ecofibre Ltd

14.6.4.  Hemp Inc

14.6.5.  GenCanna

14.6.6.  HempFlax BV

14.6.7.  Hemp Oil Canada Inc

14.6.8.  HemPoland Sp. z o.o.

14.6.9.  Dun Agro Hemp Group

14.6.10.                Colorado Hemp Works, LLC

15.  Strategic Recommendations

16. About Us & Disclaimer

Figures and Tables

Frequently asked questions

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The market size of the Global Hemp Fiber Market was estimated to be USD 378.56 million in 2022.

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Hempco Food & Fiber Inc, CBD Biotechnology Co Ltd, Ecofibre Ltd, Hemp Inc, GenCanna, HempFlax BV, Hemp Oil Canada Inc, HemPoland Sp. z o.o., Dun Agro Hemp Group, Colorado Hemp Works, LLC are some of the key players operating in the Global Hemp Fiber Market.

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Misconceptions & stigma, limited cultivation knowledge, inconsistent quality standards, are some of the major challenges faced by the Global Hemp Fiber Market in the upcoming years.

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Rising demand for sustainable materials and technological advancements in processing are the major drivers for the Global Hemp Fiber Market.

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Sakshi Bajaal

Business Consultant
Press Release

Hemp Fiber Market to Grow with a CAGR of 7.00% through 2028

Nov, 2023

Technological advancements in processing and rising demand for sustainable materials is expected to drive the Global Hemp Fiber Market growth in the forecast period, 2024-2028.

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