The global industrial hemp market size is set to grow by US $ 6.47 billion from 2021 to 2026. In its latest market research report titled Global Industrial Hemp Market 2022-2026, Technavio has said that the global industrial hemp market will be driven by factors such as high demand from the textile industry.
Hemp fibres, considered a substitute for cotton and synthetic fibres, are increasingly used as raw material for textile yarn production. In addition, hemp can also be blended with cotton, wool and silk to produce various fabrics.
As hemp fibres contain numerous cracks and small holes, they offer an excellent capillary effect, good moisture-absorbing abilities and excellent breathing performance. Hence, hemp fibres are used to manufacture waterproof, windproof, wear-resistant and anti-bacterial clothing for the military. Such applications will drive market growth in the forecast period.
42 per cent of the market’s growth will originate from Asia-Pacific (APAC) during the forecast period and China is the key market for the industrial hemp market in APAC.
