According to a research report published by Spherical Insights & Consulting, the Global Hemp Fiber Market Size Expected to Grow from USD 5.62 Billion in 2023 to USD 41.36 Billion by 2033, at a CAGR of 22.09% during the forecast period 2023-2033.

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Hemp fibers, derived from plant stems, are the strongest bast natural fibers. They have varying chemical compositions, with cellulose being the primary component. This cellulose affects fiber absorptivity, dyeability, chemical modification, and processing. It is used in textiles, automotive, and construction industries. It is prevalent for towels and blankets due to its absorbency and durability. R&D efforts aim to create hemp-based products, including fuels, chemicals, and bioenergy. Hemp seeds could also be used in meat and dairy replacements. The hemp fiber market is driven by the global demand for sustainable materials, as consumers and businesses seek alternatives to non-renewable resources. It possesses eco-friendly and biodegradable properties it is used in textiles, construction, and automobile industries. The demand for hemp fiber is expected to rise ascribed to cost-effectiveness and quality advancements in processing technologies and agricultural practices. However, the hemp fiber market has significant challenges that restrict its potential for growth and expansion, including regulatory discrepancies in hemp growing regulations and the combination of hemp with marijuana.

Browse 210 market data Tables and 45 Figures spread through 190 Pages and in-depth TOC on the Global Hemp Fiber Market Size, Share, and COVID-19 Impact Analysis, By Source (Conventional and Organic), By Application (Textiles, Paper Manufacturing, Automotive, Construction, Biodegradable Plastics, and Others), and By Region (North America, Europe, Asia-Pacific, Latin America, Middle East, and Africa), Analysis and Forecast 2023 – 2033

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The conventional segment is anticipated to hold the largest share of the global hemp fiber market throughout the projected timeframe.

Based on the source, the global hemp fiber market is categorized as conventional and organic. Among these, the conventional segment is anticipated to hold the largest share of the global hemp fiber market throughout the projected timeframe. Regular hemp is less expensive than organic hemp. Furthermore, certified organic hemp has more stringent restrictions and regulations than conventional hemp, which boosts product sales. The product portfolio is expanded through increased use in biofuels, furniture, bioplastics, and construction and materials.

The textiles segment is predicted to grow at the fastest CAGR over the projected timeframe.       

Based on the application, the global hemp fiber market is categorized as textiles, paper manufacturing, automotive, construction, biodegradable plastics, and others. Among these, the textiles segment is predicted to grow at the fastest CAGR over the projected timeframe. The textile segment is predicted to dominate due to hemp’s long history, customer familiarity, and unique properties like resilience, breathability, and mold resistance, making it suitable for various applications.

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North America is expected to hold the largest share of the global hemp fiber market during the projected timeframe.

North America is expected to hold the largest share of the global hemp fiber market during the projected timeframe. The North America market for hemp-derived products is growing attributed to its increased consumer knowledge and research in various industries. The US and Canada lead, with legalization creating a favorable climate for production, processing, and distribution.

Asia Pacific is anticipated to grow at the fastest CAGR growth of the global hemp fiber market throughout the projected timeframe. The Asia-Pacific region is experiencing a significant rise in the use of hemp fiber in various industries, driven by environmental concerns and the demand for sustainable products.

Competitive Analysis:

The report offers the appropriate analysis of the key organizations/companies involved within the global market along with a comparative evaluation primarily based on their product offering, business overviews, geographic presence, enterprise strategies, segment market share, and SWOT analysis. The report also provides an elaborative analysis focusing on the current news and developments of the companies, which includes product development, innovations, joint ventures, partnerships, mergers & acquisitions, strategic alliances, and others. This allows for the evaluation of the overall competition within the market. Major vendors in the global hemp fiber market are Ecofibre Ltd., EnviroTextiles LLC, Canvaloop, Cone Denim LLC, Panda Biotech, LLC, Shanxi Greenland Textile Co. Ltd., Tiger Fiber, TOYOSHIMA & Co., Ltd., Delta Agriculture, Dun Agro Hemp Group, Konoplex LLC, and others.

Key Target Audience

• Market Players
• Investors
• End-users
• Government Authorities
• Consulting and Research Firm
• Venture capitalists
• Value-Added Resellers (VARs)

Key Market Development

• In September 2024, Volkswagen (Wolfsburg, Germany) entered into a corporation with the textiles manufacturer start-up Revoltech GmbH (Darmstadt, Germany) to research and develop sustainable materials based on industrial hemp especially, a substitute for imitation leather.
• In March 2024, Oregon State University collaborated with 13 tribal nations in Oregon, Washington, Montana, and Idaho to explore opportunities and to manufacture products and materials made from hemp.

Market Segment

This study forecasts revenue at global, regional, and country levels from 2023 to 2033. Spherical Insights has segmented the global Hemp fiber market based on the below-mentioned segments:

Global Hemp Fiber Market, By Source

• Conventional
• Organic

Global Hemp Fiber Market, By Application

• Textiles
• Paper Manufacturing
• Automotive
• Construction
• Biodegradable Plastics
• Others

Global Hemp Fiber Market, By Regional

• North America
  • US
  • Canada
  • Mexico
• Europe
  • Germany
  • UK
  • France
  • Italy
  • Spain
  • Russia
  • Rest of Europe
• Asia Pacific
  • China
  • Japan
  • India
  • South Korea
  • Australia
  • Rest of Asia Pacific
• South America
  • Brazil
  • Argentina
  • Rest of South America
• Middle East & Africa
  • UAE
  • Saudi Arabia
  • Qatar
  • South Africa
  • Rest of the Middle East & Africa

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About the Spherical Insights & Consulting

Spherical Insights & Consulting is a market research and consulting firm which provides actionable market research study, quantitative forecasting and trends analysis provides forward-looking insight especially designed for decision makers and aids ROI.

Which is catering to different industry such as financial sectors, industrial sectors, government organizations, universities, non-profits and corporations. The company’s mission is to work with businesses to achieve business objectives and maintain strategic improvements.

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