LONDON, Aug. 25, 2022 (GLOBE NEWSWIRE) — According to The Business Research Company’s research report on the hemp fiber market, the increasing legalization of industrial hemp cultivation is expected to propel the growth of the hemp fiber market. in the future. Industrial hemp is obtained from the plant species Cannabis sativa and has been used around the world to produce a variety of industrial and consumer products. Industrial hemp is grown for its fiber and seeds, which are used to make hemp fiber. As a result, the increasing legalization of industrial hemp is helping to increase hemp fiber production. For example, in January 2021, the United States Department of Agriculture announced the final rule regulating hemp production in the United States. The rules are issued under section 10113 of the act. This implicitly legalized the manufacture and sale of Delta-8 THC, which contains minor psychoactive substances similar to the legally banned Delta-9 (marijuana).
Request a sample of the global hemp fiber market report
The size of the global hemp fiber market is expected to grow from $5.66 billion in 2021 to $7.91 billion in 2022 at a compound annual growth rate (CAGR) of 39.7%. Global hemp fiber industry growth is expected to reach $26.41 billion in 2026 at CAGR of 35.2%.
New product innovations are gaining popularity in hemp fiber market trends. Major companies operating in the hemp fiber sector are focusing on introducing product innovations to maintain their position. For example, in June 2020, Precision Extraction, an American manufacturer of hemp extraction equipment, launched the CRS 2000 (CryoMass Refinement System), which is a solventless harvesting and refining system. It is used to both dry and purify the biomass of cannabis and hemp plants at a rate of up to 600,000 grams per hour. CRS 2000 dramatically increases solvent-based cannabis and hemp, helping to increase extraction volume by up to 400%.
The major players in the hemp fiber market are Hempco, Ecofibre, Hemp Inc, GenCanna, HempFlax BV, Natural Fiber, Forever Green, HempAge AG, Hempro Int. GmbH & Co. KG, Hempy’s, Parkland Industrial Hemp Growers Cooperative Ltd., Shanxi Greenland Textile, BaFa, Dunagro, Shenyangbeijiang, Hempfortex, Kingdom Holdings, CanvaLoop Fiber Private Limited, Plains Industrial Hemp Processing Ltd, MH Medical Hemp, Industrial Hemp Manufacturing LLC , Konoplex, Hemp Oil Canada and HemPoland.
The global hemp fiber market segmentation is categorized by type into long fiber (liberal), short fiber (core); by origin in organic, conventional; by application in foods, beverages, personal care products, textiles, pharmaceuticals, etc.
Asia Pacific was the greater region in the hemp fiber market in 2021. Regions covered in the global hemp fiber market analysis are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East and Africa.
The Global Hemp Fiber Market Report 2022 – Global Market Size, Trends and Forecasts 2022-2026 is part of a series of new reports from The Business Research Company that provide insights into the hemp fiber market, analyze and forecast market size and growth for overall market, Hemp Fiber Market Segments & Geographies, Hemp Fiber Market Trends, Hemp Fiber Market Drivers, Market Restraints Hemp Fiber Reports, Revenues, Profiles and Market Shares of top Hemp Fiber Market Competitors in over 1,000 industry reports, covering over 2,500 market segments and 60 geographies.
The report also gives an in-depth analysis of the impact of COVID-19 on the market. The reports are based on 150,000 datasets, extensive secondary research and proprietary insights from interviews with industry leaders. A highly experienced and expert team of analysts and modellers provide market analysis and forecasts. The reports identify key countries and segments for opportunities and strategies based on market trends and key competitor approaches.
Not the market you are looking for? See similar market intelligence reports:
Global Cannabidiol Market Report 2022 – By Product (Oil, Tinctures, Suppositories, Transdermal Patches, Vape Oil, Isolates, Creams & Roll-Ons, Capsules, Tablets, Other Products), By Source (Marijuana, Hemp), By Treatment (CBD Oil, Supplements), By Application (Medical, Personal Use, Pharmaceuticals, Wellness), By Distribution Channel (Hospital Pharmacies, Retail Pharmacies, Online Stores, Other Distribution Channels) – Market Size , Trends and Global Forecasts 2022-2026
Global Cannabis Products Market Report 2022 – By Product Type (Flowers, Concentrates), By Use (Medical, Recreational), By Compound (THC-Dominant, CBD-Dominant, Balanced THC & CBD), By Administration (Oral Solutions & Capsules, Smoking, Vaporizers, Topicals) – Global Market Size, Trends & Forecast 2022-2026
Global Textile Market Report 2022 – By Type (Other Textile, Fabric, Yarn, Fiber & Yarn Mills, Furniture & Flooring, Textile & Fabric Finishing and Fabric Coating Mills), By Material ( Cotton, Jute, Silk, Synthetics, Wool), By Process (Woven, Nonwoven) – Global Market Size, Trends & Forecast 2022-2026
Want to know more about The Business Research Company?
The Business Research Company is a market intelligence firm that excels in business, market and consumer research. Located around the world, it has consultants specializing in a wide range of industries, including manufacturing, healthcare, financial services, chemicals and technology.
The most comprehensive database in the world
The Business Research Company’s flagship product, Global Market Model, is a market intelligence platform covering various macroeconomic indicators and measures in 60 geographies and 27 industries. The Global Market Model covers multi-layered datasets that help its users assess gaps between supply and demand.