The global industrial hemp market size is set to grow by US $ 6.47 billion from 2021 to 2026. Technavio stated in its latest market research report titled ‘Global Industrial Hemp Market 2022-2026’, that the global industrial hemp market will be driven by high demand from the textile industry.
Hemp fibres, which is regard as a substitute for cotton and synthetic fibres, are increasingly used as raw material for textile yarn production. They can also be blended with cotton, wool, and silk to produce various fabrics.
The material presents superb capillary effect, good moisture-absorbing abilities, and excellent breathing performance. Hemp fibres are also used to manufacture waterproof, windproof, wear-resistant, and anti-bacterial clothing for the military.
These factors are part of what will drive the global hemp industry to grow. 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.
