- In April 2023, Panda Biotech partnered with the Southern Ute Growth Fund to enhance sustainable hemp production across the United States. This collaboration focuses on expanding production facilities that prioritize environmentally friendly solutions. The initiative seeks to promote responsible hemp farming practices that not only benefit the industry but also contribute to sustainable agricultural methods and the overall health of ecosystems
- In April 2023, Manitoba Harvest, a subsidiary of Tilray Brands, Inc., launched its first Regenerative Organic Certified™ Hemp Hearts exclusively at Whole Foods Market in the U.S. This product emphasizes the brand's commitment to sustainable agriculture and health-conscious consumerism. By offering certified organic hemp hearts, Manitoba Harvest is promoting the nutritional benefits of hemp while ensuring that the production practices support environmental sustainability and responsible sourcing
- In March 2023, Toyoshima made a strategic investment in FyberX, a hemp fiber producer, through its venture capital fund, Fashion and Technology No.2 Investment Enterprise Partnership. FyberX is committed to delivering regenerative hemp fiber via a bioregional approach that supports local farmers, enhances soil health, and revitalizes rural communities. This initiative aims to create better opportunities across various industries, particularly in sustainable textiles
- In January 2023, Bast Fibre Technologies Inc., a Canadian natural fiber producer, acquired Lumberton Cellulose LLC, a natural fiber processing facility located in North Carolina, USA. This strategic acquisition is aimed at expanding the company’s manufacturing operations in North America. By enhancing its processing capabilities, Bast Fibre Technologies seeks to meet the increasing demand for sustainable natural fibers across various sectors, including textiles and packaging
- In October 2021, HempFlax Group announced a significant investment of approximately USD 3.2 million to upgrade its Dutch headquarters, including USD 1.9 million allocated for machinery enhancements. These improvements are projected to double the hemp fiber processing capacity from 3 tons per hour to 6 tons. The upgrades will enable operational efficiency, reducing daily energy consumption while increasing productivity and supporting the company's growth in the sustainable fiber market
Frequently Asked Questions
The market is segmented based on Segmentation, By Source (Organic, and Conventional), Application (Food, Beverages, Personal Care Products, Textiles, Pharmaceuticals, and Others), Product (Seeds, Fiber, and Shivs) – Industry Trends and Forecast to 2031
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The Global Hemp Fiber Market size was valued at USD 365.33 USD Million in 2023.
The Global Hemp Fiber Market is projected to grow at a CAGR of 6.9% during the forecast period of 2024 to 2031.
The market report covers data from the U.S., Canada and Mexico in North America, Germany, France, U.K., Netherlands, Switzerland, Belgium, Russia, Italy, Spain, Turkey, Rest of Europe in Europe, China, Japan, India, South Korea, Singapore, Malaysia, Australia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific (APAC) in the Asia-Pacific (APAC), Saudi Arabia, U.A.E, South Africa, Egypt, Israel, Rest of Middle East and Africa (MEA) as a part of Middle East and Africa (MEA), Brazil, Argentina and Rest of South America as part of South America.
