Yo, peep this, the hemp-derived fiber game be blowin’ up like crazy. The Business Research Company, a major research and consulting firm that be global as heck, just dropped some new data on that hemp fiber flow goin’ all the way up to 2033. And let me tell ya, the future is lookin’ real bright.
Da latest report from The Business Research Company, called “Hemp Fiber Global Market Report 2024,” came out on March 8th and it’s packin’ some serious info on the whole scene. They predict that by 2028, the hemp fiber market gonna be sittin’ pretty at a cool $50.38 billion with a growth rate of 35.0%. That’s some serious cheddar right there.
The rise of the hemp fiber game is all thanks to more and more places legalizing the cultivation of industrial hemp. Asia-Pacific holdin’ it down with the biggest market share in the hemp fiber game. Big names in the industry like Shenyang beijiang, BaFa Holding BV, Plains Industrial Hemp Processing Ltd., Industrial Hemp Manufacturing LLC, and Hemp Oil Canada Inc. are makin’ moves in this space.
Hemp fiber is one tough cookie, comin’ from the cannabis family’s hemp plant. The long strands from the plant’s stem get spun into threads used for makin’ fabrics through a process called retting. There’s different types of hemp fibers like long (bast) fibers and short (core) fibers that can be used in textiles, cordage, food, beverages, personal care, pharmaceuticals, and more.
The market researchers break it down into categories like long (bast) fibers vs. short (core) fibers, organic vs. conventional sources, and applications like food, beverages, personal care products, textiles, pharmaceuticals, and others. They even split it up by region – North America, South America, Asia-Pacific, Eastern Europe, Western Europe, Middle East and Africa.
The report dives deep into topics like Hemp Fiber Market Characteristic, Trends And Strategies, Macro Economic Scenario, Market Size And Growth Competitor Landscape And Company Profiles – you name it, they got it covered.
When we talkin’ about industrial hemp uses though? Man oh man, the possibilities are endless. From home construction materials to batteries made out of hemp instead of traditional materials like graphene – folks are gettin’ creative with this stuff.
Architects are usin’ hemp as a cleaner alternative for buildin’ materials. A material called hempcrete is poppin’ off – it’s carbon-negative and made from hemp shiv mixed with lime powder and water. This stuff is tough as nails and can be used for all sorts of things depending on how ya mix it.
Even battery companies are gettin’ in on the action – one Wisconsin-based company switched to makin’ batteries out of hemp instead of graphene. They even hired laid-off employees from Energizer to join their team.
And guess what? The USDA just approved genetically modified low-THC hemp plants for cultivation in the U.S. These plants were created by a biotech company called Growing Together Research based in Indiana. APHIS gave them the green light sayin’ they pose no increased risk compared to regular cultivated hemp.
So there you have it – the future of hemp fiber is lookin’ bright as heck. With all these new innovations and opportunities poppin’ up left and right, this industry ain’t slowin’ down anytime soon. Get ready to see some major changes in the game as we roll into the future.