LOS ANGELES, Feb. 28, 2019 (GLOBE NEWSWIRE) -- The latest report added to a rich database of QY Research titled, "Global Hemp Fiber Sales Market Report 2018," for the forecasted period of 6-years i.e., between 2019 and 2025. The report is highly informative and provides a 360° view of the market associated with the significant segments and elements of the global hemp fiber market. This may impact the future and current growth scenarios of the market over the predicted period.
According to the new report by QY Research, the Hemp Fiber market was valued at US$ 210 Mn in the year 2017 and is likely to reach at US$ 330 Mn by the end of 2025. The global hemp fiber market is growing with a healthy CAGR of 5.9% throughout the projected period.
Global Hemp Fiber Market: Drivers and Restraints
The global market for hemp fiber is witnessing a significant growth over the forecasted period. Manufacturers in the market are operating for fiber treatment technology such as fire retardant, super soft, absorptive, and fibers water repellant. These factors are likely to anticipate the growth of the market in the near future. Increasing per capita income and rising population is likely to create a positive impact on the market.
Rising new genetic crops to attain high yield and improved quality of the product is one of the major driver that propels the growth of the market. Growing research and development activities to improve perfect agronomy is further expected to fuel the growth of the market.
However, difficulties in the transportation of goods in highly regulated markets, low yield availability and lack of harvesting innovations are some of the factors that restraint the growth of the market over the assessment period.
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Global Hemp Fiber Market: Geographical Outlook
China is the leading producer and exporter of hemp fiber and hemp textiles market across the globe. Europe is also a leading market for hemp fiber mainly in the countries like UK, France, and Germany due to its main usage in composite materials and paper & pulp. Ukraine and Russia are also the main producers of hemp fiber products and hemp textiles in the market. To cater the need of US consumers, Canada hemp fiber manufacturers supplies the hemp products in the market.
Global Hemp Fiber Market: Key Players
Some of the Major players in the hemp fiber market are Tianyouhemp, Hemp Flax, Shenyangbeijiang, Cavac Biomatériaux, YAK Technology, BaFa, Shanxi Greenland Textile, Hemp Planet, CaVVaS, Dunagro, OOO《 Патриот Агро》, American Hemp, Hemp Inc, and Hempline.
Global Hemp Fiber Market: Segmental Analysis
The global hemp fiber market is segmented into product type and applications. Based on the applications, the market is segmented into Composite Materials, Textiles, and Pulp & Paper. On the basis of product type, the hemp fiber market is further segmented into Short (core) Fibers and Long (bast) Fibers.
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