The hemp-derived fiber market is growing exponentially. The Business Research Company, a global market research and consulting firm located across the globe, updated its reports with latest data on hemp fiber for 2024 and projections up to 2033, and the projections look promising.

The Business Research Company’s “Hemp Fiber Global Market Report 2024” was published on March 8 and provides a comprehensive source of information that covers every facet of the market. According to the TBRC’s market forecast, the hemp fiber market size is predicted to reach $50.38 billion in 2028 at a compound annual growth rate (CAGR) of 35.0%.

The growth in the hemp fiber market is due to increasing legalization to cultivate industrial hemp. Asia-Pacific region is expected to hold the largest hemp fiber market share. Major players in the hemp fiber market include Shenyang beijiang, BaFa Holding BV, Plains Industrial Hemp Processing Ltd., Industrial Hemp Manufacturing LLC, Hemp Oil Canada Inc.

“Hemp fiber refers to one of the robust members of the family of strong natural fibers, which are generated from the cannabis family’s hemp plant,” the report reads. “The plant’s stem is made up of long strands that are used to make hemp fabric. By using a technique called retting, these fibers are extracted from the bark and then spun together to produce a continuous thread that can be woven into textiles.”

The report also identifies what parts of the plant are typically used in the hemp fiber process.

“The main types of hemp fiber are long (bast) fibers, and short (core) fibers. The long (bast) hemp fiber market refers to the soft woody fiber obtained from the stems of dicotyledonous plants and is used for textiles and cordage, the report continues. “The different sources include organic and conventional, and are used in food, beverages, personal care products, textiles, pharmaceuticals, and other applications.”

Researchers divided hemp fiber market segments by the following parameters:

• By Type: Long (bast) Fibers, Short (core) Fibers
• By Source: Organic, Conventional
• By Application: Food, Beverages, Personal Care Products, Textiles, Pharmaceuticals, Other Applications
• By Geography: The global hemp fiber market is segmented into North America, South America, Asia-Pacific, Eastern Europe, Western Europe, Middle East and Africa.

The market report includes Hemp Fiber Market Characteristic, Hemp Fiber Market Trends And Strategies, Hemp Fiber Market – Macro Economic Scenario, Hemp Fiber Market Size And Growth, Hemp Fiber Market Competitor Landscape And Company Profiles, Key Mergers And Acquisitions In The Market, and many other topics.

Industrial Hemp Uses

Every day, people are finding more uses for industrial hemp. (Just refer to the works of Jack Herer, the “Emperor of Hemp.” Architects, for instance, are increasingly relying on hemp as a cleaner, more efficient replacement for traditional home construction materials. 

A recently published article by The Cool Down (“America’s mainstream climate brand”) detailed how hemp can be “transformed into a material called hempcrete.”

“Hempcrete is a carbon-negative building material made out of hemp, which is increasingly being used in place of concrete. The biocomposite material is created from hemp shiv—the woody core of hemp stalks—and mixed with a binder, such as lime powder, and water,” according to the article. “The result is a tough, adaptable material that can be mixed with varying proportions of hemp and lime depending on its intended purpose.

Hemp is constantly proving to be useful in making other materials and products. A Wisconsin-based hemp battery manufacturing company, for instance, created a goal to hire former employees of Energizer.

Portage, Wisconsin-based Wisconsin Battery Co. (WinBat) makes batteries out of hemp instead of graphene, for use in devices like hearing aids. Earlier this month, WinBat announced that it has acquired 17 acres of land in the Portage Industrial Park to develop its battery plant, a According to a Dec. 21, 2023 press release,

Last October, a variety of hemp plant genetically modified to produce little-to-no THC was approved by the United States Department of Agriculture as safe to grow and breed on U.S. soil. 

The USDA’s Animal and Plant Health Inspection Service (APHIS) released a notice about the plants last week, created and submitted by Indiana-based Growing Together Research, a biotechnology company specializing in cannabis, hemp, psychedelics and agriculture. APHIS regulates the “movement of organisms modified or produced through genetic engineering.”

“APHIS found this modified hemp is unlikely to pose an increased plant pest risk compared to other cultivated hemp,” the USDA notice said. “As a result, it is not subject to regulation under 7 CFR part 340. From a plant pest risk perspective, this hemp may be safely grown and bred in the United States.”

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The United States Department of Agriculture (USDA) announced the true value of America’s hemp market—and the numbers are telling. Hemp grown for flower, for instance, was much more valuable than hemp grown for industrial purposes. On the other hand, production levels are down, compared to numbers collected in 2018.

The survey also contained other nuggets of information, such as the fact that hemp producers in the U.S. are predominantly male and that it’s difficult to make a living in the industry without a side hustle.

The USDA’s National Agricultural Statistics Service sought permission from the White House in July 2021 to conduct a survey of about 20,000 hemp farmers to help judge the industry’s size and demographics. 

On February 17, USDA’s National Agricultural Statistics Service (NASS) released the results of the 2021 Hemp Acreage and Production Survey in its National Hemp Report. The survey collected data for hemp grown “in the open” and hemp grown “under protection.”

Industrial hemp growers planted 54,152 total acres for all purposes, and 33,480 acres of those were harvested. U.S. hemp production in the open was valued $712 million in total. Production of hemp that was grown under protection in the United States was valued at $112 million. The total area of hemp fields under protection totaled 15.6 million square feet.

“The release of this landmark report provides a needed benchmark about hemp production to assist producers, regulatory agencies, state governments, processors, and other key industry entities,” said NASS Administrator Hubert Hamer. “Not only will these data guide USDA agencies in their support of domestic hemp production, the results can also help inform producers’ decisions about growing, harvesting, and selling hemp as well as the type of hemp they decide to produce. The survey results may also impact policy decisions about the hemp industry.” 

The 2021 Hemp Acreage and Production Survey collected various information including the total planted and harvested area, yield, production, and value. 

Hemp grown for flower was most valuable versus other industrial purposes—worth $623 million (of $712 million) in the open and $64.4 million (of $112 million) under protection.

“The USDA has done a terrific job of responding to farmer concerns, but there are certain issues that have to be changed in the law to reduce the burdens on U.S. farmers,” Jonathan Miller, General Counsel of the U.S. Hemp Roundtable told High Times.

The USDA also noted that hemp industry growers are predominantly male, among other characteristics. The survey found that 82 percent of hemp producers are male. They also found that 52 percent of respondents reported that farming is their primary occupation—meaning only about half of them can sustain their livelihoods without a side hustle. The report also contains additional information about hemp producer characteristics, including years operating a farm, age, and race.

NASS provided the following highlights of the report—divided up by hemp grown in the open versus hemp grown under protection.

 U.S. totals for hemp grown in the open in 2021 were:

• Floral hemp production was estimated at 19.7 million pounds; utilized production totaled 15.7 million pounds. Area harvested for floral hemp was estimated at 15,980 acres. The average yield for floral hemp was estimated at 1,235 pounds per acre. The value of floral hemp totaled $623 million.
• Hemp grown for grain totaled 4.37 million pounds; utilized production totaled 3.96 million pounds. Area harvested for hemp grown for grain was estimated at 8,255 acres. The average yield for hemp grown for grain was estimated at 530 pounds per acre. The value of hemp for grain totaled $5.99 million.
• Hemp grown for fiber was estimated at 33.2 million pounds; utilized production totaled 27.6 million pounds. Area harvested for hemp grown for fiber was estimated at 12,690 acres. The average yield for hemp grown for fiber was estimated at 2,620 pounds per acre. The value of hemp grown for fiber totaled $41.4 million.
• Production of hemp grown for seed was estimated at 1.86 million pounds; utilized production totaled 1.68 million pounds. Area harvested for hemp grown for seed was estimated at 3,515 acres. The average yield for hemp grown for seed was estimated at 530 pounds per acre. The value of hemp grown for seed totaled $41.5 million.

Broken down by utilization, U.S. totals for hemp grown under protection in 2021 were:

• Production of hemp for transplants and clones totaled 20.2 million plants; utilized production totaled 18.0 million plants. The value of hemp grown under protection for transplants and clones totaled $23.8 million.
• Production of floral hemp was estimated at 310,421 pounds; utilized production totaled 256,124 pounds. The value of floral hemp totaled $64.4 million.
• Hemp grown for seed totaled 4,059 pounds; utilized production totaled 3,121 pounds. The value of hemp grown for seed totaled $23.7 million.

For more information, you can access the full report on the NASS website at nass.usda.gov. Hemp data is also available in NASS’s online Quick Stats database. 

Information about the regulations for growing hemp in the United States is available on the Agricultural Marketing Service’s Hemp Production webpage.

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