The Hemp Fiber Market is being driven by Increasing use in clothing industry
The Hemp Fiber Market is expected to grow at a CAGR of 13.7% during 2023 and 2028. During this period, the market is also expected to show a growth of USD 3675.8 million. In the pulp industry, hemp fiber has emerged as a viable alternative to traditional tree-based pulp sources. The chemical structure of hemp hurds closely resembles that of wood, making it an excellent substitute for manufacturing paper and cardboard. With decreasing forest lands due to increased demand for industrial pulp, particularly in developing countries, hemp's utilization as a raw material becomes increasingly important. Hemp bast and hurd fibers are combined to produce high-quality hemp paper, offering a sustainable and eco-friendly solution to the pulp industry.
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Which Factors Are Causing a Surge in Market Growth?
The market is segmented based on Application (Textiles, Personal care, Food and beverages, Others) Geography (APAC, Europe, North America, Middle East and Africa, South America).
According to Technavio, There are several factors that are causing the market to flourish during the forecast period, which are as follows:
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Key Features in Hemp Fiber Market Research Report
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The hemp fiber market encompasses the production and use of hemp fibers in various industries. As a sustainable material, hemp fiber finds applications in textiles, construction, and pulp and paper. In textiles, hemp fabric is used for clothing and upholstery. In construction, hemp fibers are used as composite materials for insulation and as a replacement for wood in certain applications. Hemp biomass is converted into fuels, chemicals, and bioenergy. Hemp seeds are used for producing meat and dairy alternatives. Hemp fiber's natural antimicrobial properties make it suitable for animal bedding. Hemp cultivation also yields hemp oil and fibers, which are used in online retailing as substitute fibers for other natural fibers.
In the agricultural industry, the hemp fibre market holds significant potential as a sustainable alternative in various sectors. Pre-production in the hemp fibre value chain encompasses crucial steps such as crop selection, specifically choosing hemp varieties for textile, construction, or industrial applications, and land preparation for optimal growth. As a versatile agricultural product, hemp can be utilized in textiles for fabric production, in construction for insulation and building materials, and in various industries for biomass production, fuels, chemicals, and bioenergy. The hemp fibre market is poised for growth, offering opportunities for businesses in agriculture, biotechnology, and manufacturing sectors.. Industries are leveraging the products belonging to the market for customer engagement, transactional notifications, and promotional offers.
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