Hemp fiber refers to the fibrous material derived from the stem of the hemp plant (Cannabis sativa). It is one of the strongest and most durable natural fibers, known for its versatility and wide range of applications. Hemp fibers are typically extracted from the outer bark of the hemp plant through a process called decortication.
The hemp fiber market consists of sales, by entities (organizations, sole traders or partnerships), of hemp fibers that include raw hemp fiber, processed hemp fiber and products derived from hemp fiber.
The global hemp fiber market was valued at $3,442.9 million in 2018 which grew till 2023 at a compound annual growth rate (CAGR) of more than 26.0%.
Growth In Textile Industry
During the historic period, the growth in the textile industry drove the growth of the hemp fiber market. The textile industry refers to the sector of the economy that produces fibers, fabrics and finished textile products. The expansion of the textile industry is due to innovations in textile manufacturing processes, economic development, rising disposable incomes, growing e-commerce platforms and online retailing and government policies and incentives, such as tax breaks, subsidies and trade agreements. Hemp fiber is utilized in the textile industry to produce various fabric types, ranging from durable and breathable clothing to home textiles. Its strong and versatile nature makes hemp fiber an attractive choice, contributing to developing sustainable and eco-friendly textiles. For instance, according to the Observatory of Economic Complexity (OEC), an open-source data visualization platform, the textile export value of China in 2021 was $285 billion which increased to $303 billion in 2022. Therefore, the increasing expansion of the textile industry drove the growth of the hemp fiber market.
Embrace Sustainability With Innovative Hemp Cloth Offerings
Companies operating in the hemp fiber market are developing hemp-based cloth to maximize their revenue and enhance their product offerings. Hemp cloth refers to textile material made from fibers derived from the hemp plant, specifically the Cannabis sativa plant species. The fibers are extracted from the stalk of the hemp plant and processed to create a fabric with various properties. For instance, in August 2021, AVEX Inc., a Japan-based entertainment company, launched a 100% hemp cloth T-shirt, which is an innovative product that emphasizes the environmental benefits and unique qualities of hemp fabric. This initiative aligns with the broader trend in the industry toward the use of sustainable and eco-friendly materials in the textile and apparel industries. AVEX's move reflects a growing interest in sustainable and eco-friendly materials among other companies like FyberX and Toyoshima & Co., who are also supporting sustainable hemp production.
The global hemp fiber market is highly fragmented, with many players operating in the market. The top seven competitors in the market made up less than 1% of the total market in 2022.
Hemp Fiber Global Market Opportunities And Strategies To 2033 from The Business Research Company provides the strategists; marketers and senior management with the critical information they need to assess the global hemp fiber market as it emerges from the COVID-19 shut down.
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Where is the largest and fastest-growing market for hemp fiber? How does the market relate to the overall economy; demography and other similar markets? What forces will shape the market going forward? The hemp fiber market global report from The Business Research Company answers all these questions and many more.
The report covers market characteristics; size and growth; segmentation; regional and country breakdowns; competitive landscape; market shares; trends and strategies for this market. It traces the market's history and forecasts market growth by geography. It places the market within the context of the wider hemp fiber market; and compares it with other markets.
The report covers the following chapters
- Introduction and Market Characteristics- Brief introduction to the segmentations covered in the market, definitions and explanations about the segment by type, by source and by application.
- Key Trends- Highlights the major trends shaping the global market. This section also highlights likely future developments in the market.
- Macro-Economic Scenario- The report provides an analysis of the impact of the COVID-19 pandemic, impact of the Russia-Ukraine war and impact of rising inflation on global and regional markets, providing strategic insights for businesses in the hemp fiber market.
- Global Market Size And Growth- Global historic (2018-2023) and forecast (2023-2028, 2033F) market values and drivers and restraints that support and control the growth of the market in the historic and forecast periods.
- Regional And Country Analysis - Historic (2018-2023) and forecast (2023-2028, 2033F) market values and growth and market share comparison by region and country.
- Market Segmentation- Contains the market values (2018-2023) (2023-2028, 2033F) and analysis for each segment by type, by source and by application in the market. Historic (2018-2023) and forecast (2023-2028) and (2028-2033) market values and growth and market share comparison by region market.
- Regional Market Size and Growth- Regional market size (2023), historic (2018-2023) and forecast (2023-2028, 2033F) market values and growth and market share comparison of countries within the region. This report includes information on all the regions Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa and major countries within each region.
- Competitive Landscape- Details on the competitive landscape of the market, estimated market shares and company profiles of the leading players.
- Other Major And Innovative Companies- Details on the company profiles of other major and innovative companies in the market.
- Competitive Dashboard - Briefs on competitive dashboard of major players.
- Key Mergers And Acquisitions - Information on recent mergers and acquisitions in the market covered in the report. This section gives key financial details of mergers and acquisitions, which have shaped the market in recent years.
- Market Opportunities And Strategies- Describes market opportunities and strategies based on findings of the research, with information on growth opportunities across countries, segments and strategies to be followed in those markets.
- Conclusions And Recommendations- This section includes recommendations for hemp fiber providers in terms of product/service offerings geographic expansion, marketing strategies and target groups. competitors in the next five years.
- Appendix- This section includes details on the NAICS codes covered, abbreviations and currencies codes used in this report.
Markets Covered:
- 1) By Type: Long (Bast) Fibers; Short (Core) Fibers
- 2) By Source: Organic; Conventional
- 3) By Application: Textiles; Construction Materials; Paper; Automotive; Food And Beverage; Animal Care; Personal Care; Other Applications
- Companies Mentioned: Konoplex; Hemp Flax Group B.V.; EnviroTextiles LLC; Fresh Hemp Food Ltd; Canvaloop Fibre Private Limited
- Countries: China; Australia; India; Indonesia; Japan; South Korea; USA; Canada; Brazil; France; Germany; Italy; Spain; UK; Russia
- Regions: Asia-Pacific; Western Europe; Eastern Europe; North America; South America; Middle East; Africa
- Time-series: Five years historic and ten years forecast.
- Data: Ratios of market size and growth to related markets; GDP proportions; expenditure per capita; hemp fiber indicators comparison.
- Data segmentations: country and regional historic and forecast data; market share of competitors; market segments.
- Sourcing and Referencing: Data and analysis throughout the report is sourced using end notes.