Global Hemp Fiber Market Research Report 2023-Competitive Analysis, Status and Outlook by Type, Downstream Industry, and Geography, Forecast to 2029

Global Hemp Fiber Market Research Report 2023-Competitive Analysis, Status and Outlook by Type, Downstream Industry, and Geography, Forecast to 2029

Hemp is a bast fiber plant with two kinds of fibers derived from its stem. Long (tough) fibers and short (core) fibers. The length of long and strong bast fiber is similar to that of cork fiber, and the lignin content is very low (lignin is the glue that binds plants together). Short core fiber is more like hardwood fiber. Hemp fiber can be used for processing textiles, pulp and paper, composite materials, etc.

Market Overview:

The latest research study on the global Hemp Fiber market finds that the global Hemp Fiber market reached a value of USD 218.82 million in 2022. It’s expected that the market will achieve USD 306.9 million by 2028, exhibiting a CAGR of 5.8% during the forecast period.

Influence of COVID-19 Outbreak on Hemp Fiber Industry Development

Under the influence of the epidemic, the economies of various countries have been seriously affected, and the business of most companies has been suspended, which has caused huge losses to the economy and caused a global economic downturn. With the change of epidemic situation, various countries began to formulate economic recovery plans. As a material for processing, hemp fiber has many qualities, including strength, durability and absorbability, so it is used in many products. Hemp textiles are durable, breathable, excellent in heat resistance, mildew-proof and allergy-proof. Similar to textiles, hemp fiber can be mixed with other pulp fibers (such as wheat straw or flax) and even recycled wood to improve paper properties, strength and recyclability. Hemp core fiber has been successfully formed into MDF, hemp building blocks and hemp cement or hemp concrete. The application of hemp fiber is very strong, so it is profitable to enter the hemp fiber market. Countries have also joined the hemp fiber industry in their economic plans to promote national economic development. At the same time, it can also drive the development of hemp fiber industry in reverse.
Under the influence of the epidemic, the government ordered all factories and enterprises to suspend business. Hemp fiber needs to be processed in factories before it can be produced. Hemp fiber can be used to make textiles, composite materials and paper, especially paper as daily necessities, which is in great demand in daily life. The factory was suspended under the influence of the epidemic, unable to produce these products, and the downstream demand increased, which was in short supply. With the change of epidemic situation, the factory gradually resumes its operation, but it needs to buy a lot of protective materials, such as masks, disinfectants, protective clothing, etc. to ensure the safety of employees, and the factory also needs to disinfect every day. These factors have increased the cost of enterprises, and have a certain impact on the processing of hemp fiber, thus affecting the hemp fiber industry.

Drivers

In 2001, Canada became the first country to allow terminally ill patients to grow and smoke their own marijuana. On October 17, 2018, Canada legalized the possession and use of marijuana. According to the license issued by the Canadian government, marijuana can be legally used for medical and industrial purposes. Many States in the United States have legalized marijuana, and the marijuana industry is the fastest growing industry in the United States. Hemp has many uses, and people's demand for Hemp is also high. With the legalization of marijuana in some areas of the United States and Canada, many countries and regions began to change their views on marijuana. Hemp has various excellent properties and can be used in medical and textile industries. The demand for Hemp is increasing, and the Hemp industry is developing rapidly. Because marijuana is legalized in most countries and regions in the United States, there are many companies that grow marijuana and extract a lot of hemp fiber. Active local policies have promoted the growth of hemp fiber market in US, which is a growing market of hemp fiber industry in the global market.

Region Overview:

China had the highest growth rate of all regions.

Company Overview:

Shanxi Greenland Textile is one of the major players operating in the Hemp Fiber market, holding a share of 25.81% in 2020.

Shanxi Greenland Textile, formerly known as Jincheng Textile Factory, was founded in 1969, and was transformed into a state-owned holding limited liability company in 1997. Mainly produces and manages pure hemp, flax and blended yarn, cloth, organic cotton yarn, cloth, clothing, apparel, home textiles and other products. The business scope of the enterprise is self-produced hemp yarn and cloth; Hemp cotton, wool, silk, viscose, polyester and flax blended yarn and cloth; Hemp series decoration, bedding, clothing export and domestic sales. Import business of original auxiliary materials, mechanical equipment, instruments and meters, spare parts and related technologies required for production and scientific research; Three to one supplement business (except those restricted by the state); Domestic sales of cotton yarn and cloth; Machine matching processing; Electrical maintenance (except those prohibited in China).

Shenyangbeijiang is a scientific research enterprise based on the research and development of hemp textile raw materials. The hemp fiber produced by the company can be used for customers to develop various textiles. Shenyangbeijiang also cooperates with many brands to develop terminal products, among which socks are the main products, and the development covers underwear, underwear, household clothes, bedding and other products. The sales network is all over China.

Segmentation Overview:

Among different product types, Long (Bast) Fibers segment is anticipated to contribute the largest market share in 2027.

Application Overview:

By application, the Textiles segment occupied the biggest share from 2017 to 2022.

Key Companies in the global Hemp Fiber market covered in Chapter 3:

AGROFIBRE SAS
Nanjingxinhe
Shanxi Greenland Textile
Shenyangbeijiang
Dun Agro
HempFlax
BaFa
American Hemp
Industrial Hemp Manufacturing

In Chapter 4 and Chapter 14.2, on the basis of types, the Hemp Fiber market from 2018 to 2029 is primarily split into:

Long (Bast) Fibers
Short (Core) Fibers

In Chapter 5 and Chapter 14.3, on the basis of Downstream Industry, the Hemp Fiber market from 2018 to 2029 covers:

Textiles
Pulp & Paper
Composite Materials
Others

Geographically, the detailed analysis of consumption, revenue, market share and growth rate, historic and forecast (2018-2029) of the following regions are covered in Chapter 8 to Chapter 14:

North America (United States, Canada)
Europe (Germany, UK, France, Italy, Spain, Russia, Netherlands, Turkey, Switzerland, Sweden)
Asia Pacific (China, Japan, South Korea, Australia, India, Indonesia, Philippines, Malaysia)
Latin America (Brazil, Mexico, Argentina)
Middle East & Africa (Saudi Arabia, UAE, Egypt, South Africa)