Hemp Fiber Market Rising at rate of 6.90% in the Forecast Period
The hemp fiber market is expected to witness market growth at a rate of approximately 6.90% in the forecast period of 2021 to 2028 and is expected to reach USD 0.51 billion by 2028.
Data Bridge Market Research report on hemp fiber market provides analysis and insights regarding the various factors expected to be prevalent throughout the forecast period while providing their impacts on the market’s growth. The rise in the awareness regarding the benefits of hemp is escalating the growth of hemp fiber market.
The product is utilized in the processing and manufacturing of various products such as paper, textile, insulation and construction material, personal care products, nutraceutical, bio-plastics and bio-fuel. It is mostly grown food and beverage and non-food based products with no use of toxic chemicals, pesticides, fertilizers and herbicides.
The rise in inclination towards natural organic products over pharmaceuticals among customers across the globe acts as one of the major factors driving the growth of hemp fiber market.
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 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 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 hemp fiber market.
Furthermore, research and development activities and product development extend profitable opportunities to the hemp fiber market players in the forecast period of 2021 to 2028.
Competitive Landscape and Hemp Fiber Market Share Analysis
The hemp fiber market competitive landscape provides details by competitor.
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 hemp fiber market.
The major players covered in the hemp fiber market report are Hempco, CBD Biotechnology Co., Ltd., Ecofibre, Hemp Inc, GenCanna, HempFlax Group B.V., Konoplex, Hemp Oil Canada, HemPoland, Dun Agro Hemp Group, Colorado Hemp Works, INC, Canah, South Hemp, Plains Industrial Hemp Processing Ltd., MH medical hemp, Parkland Industrial Hemp Growers Co-op. Ltd., Botanical Genetics, LLC, Marijuana Company of America, Inc., HempMeds Brasil, Terra Tech Corp., American Cannabis Company Inc., Industrial Hemp Manufacturing, LLC among other domestic and global players. Market share data is available for global, North America, Europe, Asia-Pacific (APAC), Middle East and Africa (MEA) and South America separately. DBMR analysts understand competitive strengths and provide competitive analysis for each competitor separately.
On the other hand, complex regulatory structure for the use of hemp products and lack of viable availability of seeds for the cultivation of industrial hemp are the factors expected to obstruct the hemp fiber market growth. Lack of processing facilities and planting and harvesting equipment is projected to challenge the hemp fiber market in the forecast period of 2021-2028.
This hemp fiber market report provides details of new recent developments, trade regulations, import export analysis, production analysis, value chain optimization, market share, 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.
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Hemp Fiber Market Scope and Market Size
The 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 valuable market overview and market insights to help them in making strategic decisions for identification of core market applications.
- On the basis of source, the hemp fiber market is segmented into organic and conventional.
- On the basis of application, the hemp fiber market is segmented into food, beverages, personal care products, textiles, pharmaceuticals and others.
Global Hemp Fiber Market Country Level Analysis
The hemp fiber market is analyzed and market size, volume information is provided by country, source and application as referenced above.
The countries covered in the global hemp fiber market report are the U.S., Canada, Mexico in North America, Germany, Sweden, Poland, Denmark, Italy, U.K., France, Spain, Netherland, Belgium, Switzerland, Turkey, Russia, Rest of Europe in Europe, Japan, China, India, South Korea, New Zealand, Vietnam, Australia, Singapore, Malaysia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific (APAC) in Asia-Pacific (APAC), Brazil, Argentina, Rest of South America as a part of South America, UAE, Saudi Arabia, Oman, Qatar, Kuwait, South Africa, Rest of Middle East and Africa (MEA) as a part of Middle East and Africa (MEA).
North America and Europe dominate the hemp fiber market because of the development of varieties of industrial hemp, legalized utilization of cannabis for medicinal and recreational applications and high awareness among consumers.