Global Hemp Fiber market will reach 330 million US$ by the end of 2025

Publisher: QYResearch
Published Date: 2019/8/28

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.

According to the new report by QY Research, the 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. 

Click to view the full report:
https://www.qyresearch.com/index/detail/54916/global-hemp-fiber-sales-market
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