Press release
Hemp Fiber Market Poised for 36.4 % Growth, Set to Hit $300.97 Billion by 2029
Hemp Fiber Market Size
The hemp fiber market is anticipated to grow owing to the rising legalization of industrial hemp cultivation. Industrial hemp, obtained from the cannabis* sativa plant species, has been utilised worldwide in the production of a myriad of industrial and consumer goods. The plant is primarily cultivated for its fibers and seeds which are then converted into hemp fiber. With the legalization of the crop increasing, the output of hemp fiber is also seeing a similar rise. For instance, the Australian Institute of Health and Welfare, a government agency in Australia, stated in February 2024 that the support for legalizing cannabis* grew to 45% in 2022-2023. This marked the first time that supporters for legalization outnumbered the 39% who advocated for harsher punishments for cannabis* sales or supply. Consequently, this growing trend of legalizing industrial hemp cultivation is bolstering the expansion of the hemp fiber market.
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How will the growth rate of the hemp fiber market shape industry trends by 2034?
The market size for hemp fiber has seen a significant increase in the past years. Expected to rise from a valuation of $15.09 billion in 2024 to a staggering $20.77 billion in 2025, the market is forecasted to expand at a compound annual growth rate (CAGR) of 37.7%. This notable growth from the historic period is due to several factors such as the resurgence of attention towards hemp cultivation, ecological sustainability, the needs of the textile and apparel industry, agricultural diversification, enhancement of soil with rich nutrients, and raised conscious about sustainable textile options.
In the coming years, we can expect a significant expansion in the hemp fiber market, with projections suggesting it could reach a value of $71.96 billion by 2029. Such growth, representing an annual compound rate of 36.4%, can be attributed to various factors including supportive hemp cultivation laws, a growing global population, a focus on the circular economy, and an expansion in textiles derived from hemp. Key emerging trends for this forecast period encompass the use of hemp fiber in sustainable packaging, advancements in processing technologies, product development innovation, its adoption into the paper and pulp industry, as well as its integration within the automotive and construction sectors.
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What trends are poised to drive the future success of the hemp fiber market?
Leading firms in the hemp fiber sector are innovating with products like hemp-based period care items to secure a competitive advantage. Period-care items are a set of personal cleanliness products meant to handle menstrual flow during a woman's period. For example, Regenerative International Female Inc., a US personal-care products firm, introduced a line of hemp-based period care items in April 2022, providing an eco-conscious alternative in the feminine hygiene industry. The pads, which come in three different absorbency levels, combine hemp and organic cotton fibers for the top layer, a tree pulp core without super absorbent polymers (SAP), and a completely decomposable backsheet made of sugar-based plastic. The firm highlights hemp's antimicrobial abilities and plans to improve pad absorbency by teaming up with biotech partners-further enabling a more sustainable and comfy choice for women wanting to move away from synthetic materials in feminine hygiene products.
Which primary segments of the hemp fiber market are driving growth and industry transformations?
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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Which geographical regions are pioneering growth 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.
Who are the influential players reshaping the hemp fiber market landscape?
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.
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What Is Covered In The Hemp Fiber Global Market Report?
•Market Size Forecast: Examine the hemp fiber market size across key regions, countries, product categories, and applications.
•Segmentation Insights: Identify and classify subsegments within the hemp fiber market for a structured understanding.
•Key Players Overview: Analyze major players in the hemp fiber market, including their market value, share, and competitive positioning.
•Growth Trends Exploration: Assess individual growth patterns and future opportunities in the hemp fiber market.
•Segment Contributions: Evaluate how different segments drive overall growth in the hemp fiber market.
•Growth Factors: Highlight key drivers and opportunities influencing the expansion of the hemp fiber market.
•Industry Challenges: Identify potential risks and obstacles affecting the hemp fiber market.
•Competitive Landscape: Review strategic developments in the hemp fiber market, including expansions, agreements, and new product launches.
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