Hemp Fiber Market Size, Share, Growth, and Industry Analysis, By Type (Long (bast) Fibers and Short (core) Fibers), By Application (Textiles, Pulp & Paper, Composite Materials and Others) and Regional Forecast to 2032

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HEMP FIBER MARKET REPORT OVERVIEW

The Hemp Fiber Market size was USD 235.2 Million in 2023 and is projected to reach USD 388.34 Million by 2032, exhibiting a CAGR of 5.1% during the forecast period 2024-2032.

Hemp fiber is a traditional, strong and multi-purpose fiber which is extracted from the stem of the Hemp plant (Cannabis sativa). One of the oldest industrial raw materials, hemp fiber is characterized by high durability and environmental friendliness, and is used in everything from fabric to construction materials. It is one of the first cultures to refine fibers, with evidence of use being recorded to have been in existence for over 10,000 years.

COVID-19 IMPACT or RUSSIA -UKRAINE WAR IMPACT or ISRAEL-HAMAS WAR IMPACT

"Hemp Fiber Industry Had a Negative Effect Due to Supply Chain Disruptions during COVID-19 Pandemic"

The Global COVID-19 pandemic has been unprecedented and staggering, with the market experiencing higher-than-anticipated demand across all regions compared to pre-pandemic levels. The sudden market growth reflected by the rise in CAGR is attributable to market’s growth and demand returning to pre-pandemic levels.

The outbreak of the COVID affected several networks that include supply of raw material and manufacturing and transport of the final products. The smokers experienced problems obtaining the raw materials, processing and marketing the hemp fiber products. Availability of workforce dropped due to shutdowns and health issues that threatened production facilities, farms, and supply chain—hemp fiber production had little demand generally.

LATEST TRENDS

"Sustainability and Eco-friendly Alternatives to Propel Market Growth"

Due to the growing awareness of environmental degradation, it has become the general trend of consumers and businesses to look for substitute materials to conventional materials. Agriculturally, raw material such as hemp is environmentally friendly because it is biodegradable, rejected by pests hence it doesn’t require pesticides, uses little fertilizer and water. It is highly used in textile industries, constructions and even packing industries since it is so popular. Making use of its fibers, Hemp fibers are part of the push toward circular economy practices. Hemp based products are being made with the concept of recycling with principles favoring up cycling as opposed to synthetic fibers that have single use.

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HEMP FIBER MARKET SEGMENTATION

By Type

Based on type the market can be categorized into Long (bast) Fibers and Short (core) Fibers.

• Long(bast) Fibers- This type of fibers is popularly known as bast fibers and they are obtained from the outer part of the stem from the hemp plant. They are located in the inner bark or phloem layer outside the central core of the plant’s stem called the xylem.

• Short(core) Fibers- Core or short for throw fibers derived from the middle core of the stem of the plant or hurds. It is composed mostly of the thicker stem of the hemp plant, between the outer bark layer (bast) and the inside wood.

By Application

Based on application the market can be categorized into Textiles, Pulp & Paper, Composite Materials and Others.

• Textiles- Industrialization of hemp’s fiber includes, making of cloth wears such as shirts, pants, jackets, dresses, and hats among others. It has high wastage resistance, excellent breathability, and comfort, which increases with time.

• Pulp & Paper- Hemp is the best substitute for wood with regards to the pulp and paper production. This is because hemp fiber is long, strong and highly cellulose and therefore can be used in a process of coming up with high quality and durable paper.

• Composite Materials - Fibers from the stalks of the hemp plant are also finding more application in composites because of its strength to weight ratio. Cannabis composites are preferred to plastics and fiberglass in vehicle production, construction, and packaging materials.

MARKET DYNAMICS

Market Dynamics include driving and restraining factors, opportunities and challenges stating the market conditions.

DRIVING FACTORS

"Growing Demand for Sustainable and Eco-friendly Products to Drive Market Advancement"

One of the key driving factors in the Hemp Fiber Market growth is Growing Demand for Sustainable and Eco-friendly Products. Due to the growing demand for more sustainable materials today, hemp acts as a replacement for traditional fiber materials such as cotton, polyester, and nylon. Hemp is a less input-intensive crop than most crops (e.g., water, pesticide, and fertilizer) and is biodegradable, considered a suitable option for the green consumer market. Indeed, the fact that this plant can be grown from different climate types, and due to its environmentally-friendly approach to cultivation, has been the popular type of crop to undertake, especially when climate change and the destruction of the face of the surface of the earth has become a serious issue. It also has a low amount of carbon emissions with the additional capacity for carbon storage – additional features that help market the product.

"Health and Wellness Industry Growth to Expand the Market"

More recently, bedding and health care fabrics use it because it is naturally allergy-free, anti-bacterial, non-mold and mildew. Essential in the products such as mattresses, towels, and bedding to capture the expanding consumer trend on health concerns. Hemp has also received much attention in the health quarter because its seed and oil comprises omega-3 fatty acids and CBD substance. These products are sold independently from hemp fiber but its growth contributes to demand for other hemp products as well as cultivation.

RESTRAINING FACTOR

"High Production Costs Poses Potential Impediments to Market Growth"

One of the major challenges facing the growth of the hemp fiber industry is the high cost of production. The use of hemp is more complex than conventional crops such as the cotton as it undergoes more labor-intensive phases such as planting, tending and even during the harvesting exercise. Moreover, the technology for the processing of hemp fibers is different and is not as widespread in the world as other fibers; this explains the relatively high operational costs. The equipment that is used in processing hemp fibres from the plant(RHD)is relatively costly and increasing this production requires large capital investment in sophisticated machinery and infrastructure.

OPPORTUNITY

"Growth of the Eco-Friendly Fashion Industry to create opportunity for the product in the Market"

As sustainability becomes a major concern in the fashion world this is a factor driving the growth of the Hemp Fiber Market. Owing to the continuous rise in awareness of the effects of conventional textile production on the environment, natural, biodegradable, and sustainable clothing materials have become popular in fashion. Sustainability is seen as having a significant opportunity through the use of hemp – a material which although not as strong as steel, can grow using much fewer pesticides, less water and in a range of climatic conditions.

CHALLENGE

"Consumer Perception and Lack of Awareness could be a potential challenge for consumer"

Despite its numerous advantages, hemp fiber continues to experience consumer barriers especially in areas that consider it a variant of marihuana. Some consumers are still ignorant, the benefits that hemp has over other conventional raw materials such as the cotton or synthetic fiber. This unawareness and refusal to change can delay the growth of the market as such in flow industries like fashion and textiles.

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HEMP FIBER MARKET REGIONAL INSIGHTS

• North America

The demand for hemp products is experiencing a surge mainly due to the changes in legislation requiring that more attention be paid to the production of hemp crops . The enhanced consciousness of the environment has caused an increase in production in the United States and Canada, which will promote domestic production.

• Asia Pacific

Asia Pacific has emerged as the most dominant region in the Hemp Fiber Market share due to a convergence of factors that propel its leadership in this dynamic industry. China is well ahead of other countries in hemp farming as China cultivates hemp for both fiber and seed purposes. Hemp in China has been cultivated for a long time now as it has already developed the whole structure to process its fibers for numerous uses.

• Europe

Canada and the European Union (EU) have been promoting cultivation of industrial hemp through aqua and sustainable agriculture policies and are the biggest market for hemp products in the textile and biocomposite sectors. Many European countries including France and Germany have highly developed hemp growing industries and are big players on the international hemp market.

KEY INDUSTRY PLAYERS

"Key Players Transforming the Hemp Fiber Market Landscape through Innovation and Global Strategy"

Key enterprises in the Hemp Fiber Market are employing various strategies to sustain their market presence amidst rising competition and evolving consumer preferences. Major hemp fiber industries have been advancing operational capacity and adopting enhanced processing infrastructure solutions for efficiency and size. For example, HempFlax and Pure Hemp Technology have begun increasing the capabilities to process more raw hemp and develop good quality fibers for clothes, composites, etc.

LIST OF MARKET PLAYERS PROFILED

• YAK Technology(Saudi Arabia)
• American Hemp(U.S.)
• Dunagro(Netherlands)
• Hemp Planet(India)
• HempFlax(Netherlands)

INDUSTRIAL DEVELOPMENT

Dec 2021- LTI acquired Leafline Industries by buying Green Thumb Industries Inc. Currently, the Minnesota medical cannabis Industry only has two cultivators that are approved to grow, process and directly supply medical cannabis products to patients, and Leafline is privileged to be among them.

REPORT COVERAGE

The study encompasses a comprehensive SWOT analysis and provides insights into future developments within the market. It examines various factors that contribute to the growth of the market, exploring a wide range of market categories and potential applications that may impact its trajectory in the coming years. The analysis takes into account both current trends and historical turning points, providing a holistic understanding of the market's components and identifying potential areas for growth.

The research report delves into market segmentation, utilizing both qualitative and quantitative research methods to provide a thorough analysis. It also evaluates the impact of financial and strategic perspectives on the market. Furthermore, the report presents national and regional assessments, considering the dominant forces of supply and demand that influence market growth. The competitive landscape is meticulously detailed, including market shares of significant competitors. The report incorporates novel research methodologies and player strategies tailored for the anticipated time frame. Overall, it offers valuable and comprehensive insights into the market dynamics in a formal and easily understandable manner.