Global Hemp Fiber Market - Industry Trends and Forecast to 2030

Global Hemp Fiber Market, By Source (Organic, and Conventional), Application (Food, Beverages, Personal Care Products, Textiles, Pharmaceuticals, and Others) - Industry Trends and Forecast to 2030.

Hemp Fiber Market Analysis and Size

The increase in demand for hemp fibers in various industries such as automotive, construction, food and beverage, personal care and textile especially in emerging regions and rise in the investment for the production of hemp-based products accelerate the global hemp fiber market growth. The growth in awareness among population regarding the therapeutic properties of the product and the low prices of hemp encouraging farmers to diversify their crop options further influences the global hemp fiber market. Additionally, increase in use for numerous food applications, rise in legalization in the cultivation of hemp, emerging consumer trend because of the surge in number of social media influencers promoting the benefits of the product, prevalence of chronic diseases and merges and acquisitions among key players positively affect the global hemp fiber market.

Data Bridge Market Research analyses that the global hemp fiber market which was USD 341.75 million in 2022, is expected to reach USD 582.81 million by 2030, and is expected to undergo a CAGR of 6.90% during the forecast period of 2023 to 2030.  “Textiles” dominates the application segment of the global hemp fiber market due to its durability, breathability, and eco-friendliness. As sustainability becomes more crucial, textiles made from hemp is expected to dominate the market. In addition to the insights on market scenarios such as market value, growth rate, segmentation, geographical coverage, and major players, the market reports curated by the Data Bridge Market Research also include in-depth expert analysis, geographically represented company-wise production and capacity, network layouts of distributors and partners, detailed and updated price trend analysis and deficit analysis of supply chain and demand.

Hemp Fiber Market Scope and Segmentation

Market Definition

"Hemp Fiber" refers to natural, plant-based fibers extracted from the stalks of the hemp plant (Cannabis sativa). These fibers are used in various industries and applications, such as textiles, automotive components, construction materials, paper production, and more. Hemp fiber is known for its strength, durability, and eco-friendly characteristics, making it a desirable choice in industries seeking sustainable and renewable raw materials. It is one of the strongest and most versatile natural fibers in existence. Hemp fiber is known for its exceptional strength, resistance to wear and tear, and eco-friendly properties.

Global Hemp Fiber Market Dynamics

Drivers

• Growing Demand for Sustainable Materials

One of the primary drivers of the global hemp fiber market is the increasing demand for sustainable and eco-friendly materials. As awareness of environmental issues and the need for sustainable practices rises, industries are seeking alternatives to traditional, less sustainable fibers. Hemp fiber, being biodegradable, renewable, and requiring fewer chemicals in cultivation, aligns with this demand.

• Growing Legislative Changes and Legalization

Legislative changes, particularly the legalization of industrial hemp cultivation in various regions, have significantly driven the market. The relaxation of regulations surrounding hemp production has opened up new opportunities for industrial applications, such as textiles, construction materials, and automotive components, leading to increased demand for hemp fiber.

• Expanding Industrial Applications

Hemp fiber's versatility is another driver. It finds applications in textiles, paper, bioplastics, and construction materials. As researchers and manufacturers continue to explore new uses for hemp fiber, its market potential continues to expand, attracting investment and innovation. 

Opportunities

• Health and Wellness Products

 There's a growing opportunity in the production of health and wellness products, particularly those containing hemp-derived compounds like CBD (cannabidiol). Hemp fiber can be used in packaging, textiles, and other components of these products, tapping into the wellness industry's growth.

• Emerging Markets and Export Potential

 As more countries legalize industrial hemp cultivation, there is an opportunity for hemp fiber producers to explore emerging markets. Additionally, hemp fiber can be exported to regions with limited domestic production, creating opportunities for global expansion.

Restraints/Challenges

• Growing Regulatory Uncertainty

 Despite relaxation in many regions, hemp's legal status remains uncertain in some areas. Varying regulations and potential changes in legislation can create challenges for market participants, including restrictions on cultivation, processing, and distribution.

• Competition from Other Fibers

 While hemp fiber has gained popularity, it faces competition from well-established fibers like cotton and synthetic materials. Overcoming the market dominance of these traditional fibers can be a significant restraint for hemp fiber adoption.

• Supply Chain Development

 Scaling up hemp fiber production to meet increasing demand is challenging due to the need for well-established and efficient supply chains, including cultivation, processing, and distribution. Developing these supply chains is essential for the sustained growth of the global hemp fiber market.

• Educating Consumers and Industries

 Many consumers and industries still lack awareness of hemp fiber's benefits and versatility. Educating them about the advantages of hemp fiber, its eco-friendliness, and its various applications is a challenge that needs to be addressed to drive market growth.

This global hemp fiber market report provides details of new recent developments, trade regulations, import-export analysis, production analysis, value chain optimization, market share, the impact of domestic and localized market players, analyses opportunities in terms of emerging revenue pockets, changes in market regulations, strategic market growth analysis, market size, category market growths, application niches and dominance, product approvals, product launches, geographic expansions, technological innovations in the market. To gain more info on the global hemp fiber market contact Data Bridge Market Research for an Analyst Brief, our team will help you make an informed market decision to achieve market growth. 

Recent Development

• In January 2022, German adhesive materials specialist VPF, in collaboration with Gmund Papier, has introduced a novel self-adhesive labelstock crafted entirely from hemp fibers. This 120 g/m2 hemp paper offers excellent printability and a soft texture, utilizing European hemp fiber. Hemp's sustainable growth, high strength, and recyclability make it an eco-friendly alternative to traditional wood-based papers, addressing the growing demand for sustainable materials in the global hemp fiber market.

Global Hemp Fiber Market Scope

The global hemp fiber market is segmented on the basis of source, and application. The growth amongst these segments will help you analyze meagre growth segments in the industries and provide the users with a valuable market overview and market insights to help them make strategic decisions for identifying core market applications.

Source

• Organic
• Conventional

Application

• Food
• Beverages
• Personal Care Products
• Textiles
• Pharmaceuticals
• Others

Global Hemp Fiber Market Regional /Insights

The global hemp fiber market is analysed and market size insights and trends are provided by grade, application, and type are referenced above. The countries covered in the global hemp fiber market report are U.S., Canada, and Mexico in North America, Brazil, Argentina, and the rest of South America in South America, Germany, France, Italy, U.K., Belgium, Spain, Russia, Turkey, Netherlands, Switzerland, and the rest of Europe in Europe, Japan, China, India, South Korea, Australia, Singapore, Malaysia, Thailand, Indonesia, Philippines, and the rest of Asia-Pacific in Asia-Pacific, and U.A.E, Saudi Arabia, Egypt, South Africa, Israel, and the rest of the Middle East and Africa in Middle East and Africa.

North America dominates the global hemp fiber market due to legalization of industrial hemp cultivation in the U.S. and the increasing use of hemp in various industries, including textiles, automotive, and construction.

Asia-Pacific is expected to witness the fastest growth during the forecast period 2023-2030 due to increasing demand of hemp fiber in textiles, paper, and various industrial applications.

The country section of the report also provides individual market impacting factors and changes in regulation in the market domestically that impact the current and future trends of the market. Data points like down-stream and upstream value chain analysis, technical trends, and porter's five forces analysis, case studies are some of the pointers used to forecast the market scenario for individual countries. Also, the presence and availability of global brands and their challenges faced due to large or scarce competition from local and domestic brands, the impact of domestic tariffs, and trade routes are considered while providing forecast analysis of the country data.   

Competitive Landscape and Global Hemp Fiber Market Share Analysis

The global hemp fiber market competitive landscape provides details by competitors. details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, global presence, production sites and facilities, production capacities, company strengths and weaknesses, product launch, product width, and breadth, application dominance. The above data points provided are only related to the companies' focus related to the global hemp fiber market.

Some of the major players operating in the global hemp fiber market are:

• Hempco (Canada)
• CBD Biotechnology Co., Ltd. (Taiwan)
• Ecofibre (Australia)
• Hemp Inc (U.S.)
• GenCanna (U.S.)
• HempFlax Group B.V. (Netherlands)
• Konoplex (Russia)
• Hemp Oil Canada (Canada)
• HemPoland (Poland)
• Dun Agro Hemp Group (Netherlands)
• Colorado Hemp Works, INC (U.S.)
• Canah (Romania)
• South Hemp (Argentina)
• Plains Industrial Hemp Processing Ltd. (Canada)
• MH medical hemp (Germany)
• Parkland Industrial Hemp Growers Co-Op. Ltd. (Canada)
• Botanical Genetics, LLC (U.S.)
• Marijuana Company of America, Inc. (U.S.)
• HempMeds Brasil (Brazil)
• Terra Tech Corp. (U.S.)
• American Cannabis Company Inc. (U.S.)
• Industrial Hemp Manufacturing, LLC (U.S.)