- Hemp fiber, derived from the Cannabis sativa plant, is a versatile and sustainable material used in a wide range of applications, from textiles and construction to food and personal care products, due to its durability, biodegradability, and low environmental impact
- The escalating demand for hemp fiber is fueled by increasing regulatory support for hemp cultivation, growing consumer preference for natural and organic products, and advancements in hemp processing technologies
- North America dominated the hemp fiber market with the largest revenue share of 38.5% in 2024, driven by favorable legislation, early adoption of hemp-based products, and a strong presence of key industry players
- Asia-Pacific is expected to be the fastest-growing region in the hemp fiber market during the forecast period, propelled by rapid urbanization, increasing disposable incomes, and growing awareness of sustainable materials
- The Conventional segment dominated the largest market revenue share of 65% in 2024, driven by its cost-effectiveness and scalability for large-scale industrial applications such as textiles, construction materials, and automotive parts
