Leading the Hemp Fiber Revolution for the Sustainable and Versatile Hemp Fiber Consumption

The global legalization of industrial hemp has witnessed a surge in popularity in recent years. Extensive research into the numerous benefits of hemp and the increasing innovation and creativity by clothing manufacturers have greatly contributed to the significant rise in hemp fiber consumption. Furthermore, increasing demand for sustainable and eco-friendly materials is experiencing notable growth with a growing emphasis on natural and organic products, along with favorable regulatory environments, the Hemp Fiber Consumption market is poised for continued expansion in various industries.

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Data Bridge Market Research analyses that the Hemp Fiber Consumption Market is valued at USD 2,120 million in 2021 and is expected to reach USD 12636.18 million by 2029, registering a CAGR of 25.0% during the forecast period of 2022-2029. Hemp fiber is known for its versatility and can be used in a wide range of applications, including textiles, composites, insulation, and automotive parts. The recognition of its diverse applications and functional properties has contributed to its increasing consumption.

Key Findings of the Study

Increasing consumer awareness is expected to drive the market's growth rate

The increasing consumer awareness regarding the benefits of hemp fiber has played a significant role in driving its demand. Consumers are now more knowledgeable about the durability, breathability, and hypoallergenic properties of hemp fiber. They appreciate its sustainable and eco-friendly nature, which aligns with their growing environmental consciousness. This awareness has resulted in a higher preference for hemp fiber products, contributing to the rising demand and market growth.

Report Scope and Market Segmentation

Segment Analysis:

The hemp fiber consumption market is segmented on the basis of product type, wound type, wound class, end user and distribution channel.

• On the basis of type, the hemp fiber consumption market is segmented into long (Bast) fibers, short (Core) fibers. Long (bast) fibers segment is expected to dominate the North America hemp fiber consumption market with a CAGR of 9.4% in the forecast period 2022 to 2029 owing to their superior strength, durability, and versatility. They are extensively used in industries such as textiles, paper, and composites, offering excellent mechanical properties and a wide range of applications, contributing to their dominance in the market.

In 2022, long (Bast) fibers segment is expected to dominate the North America hemp fiber consumption market

In 2022, Long (Bast) fibers segment is expected to dominate the North America hemp fiber consumption market owing to superior durability, versatility, and strength. They have a wide range of applications and excellent mechanical properties, which help to explain their widespread use in sectors like textiles, paper, and composites. This helps explain why they dominate the market with a CAGR of 9.4% in the forecast period 2022 to 2029

• On the basis of application, the hemp fiber consumption market is segmented into composite materials, textiles, pulp and paper, others. The composite materials segment dominates the market due to their exceptional strength-to-weight ratio, durability, corrosion resistance, and design flexibility. They are widely used in aerospace, automotive, construction, and sporting goods industries, among others, for creating lightweight, high-performance components and structures in the forecast period 2022 to 2029 .

Major Players

Data Bridge Market Research recognizes the following companies as the major hemp fiber consumption market players in hemp fiber consumption market are HempFlax Group B.V (Netherlands), Konoplex (Russia), Toad&Co (U.S.), Its Hemp (India) and hempfabriclab (India), Bastcore (U.S.), Western States Hemp (U.S.), NHempco (India), Ecofibre (Australia), Hemp Inc. (U.S.)

Market Development

• In 2021, Denim made from cottonized hemp was first used by Levi Strauss & Co. The brand encourages the use of organic cotton and cottonized hemp while pioneering sustainable manufacturing techniques in the fashion industry.
• In 2020, Hemp Traders (California) launched their new hemp knit fabrics line to meet the rising demand for hemp-based textiles created in the United States. In comparison to textiles imported from China, this initiative seeks to increase the accessibility, affordability, and availability of hemp textiles.
• In 2020, A limited-edition hemp fiber sneaker was released by Nike, Inc. in association with a UK retailer. Reports state that the company has partnered with American clothing maker Stüssy to create a hemp version of its own Air Force 1. (shoe)

Regional Analysis

Geographically, the countries covered in the hemp fiber consumption market report are U.S., Canada and Mexico in North America

As per Data Bridge Market Research analysis:

The U.S. is the dominant region in the hemp fiber consumption market during the forecast period 2022-2029

The United States takes the lead in the North America region due to several factors. The nation's hemp industry has grown as a result of the development of industrial hemp varieties with enhanced properties. Additionally, legalizing cannabis for both medical and recreational uses has created a regulatory environment that is advantageous for the hemp industry. Additionally, growing consumer knowledge of the advantages and adaptability of hemp-based products has fueled demand and elevated the U.S. to the forefront of the global hemp market.

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