Global Hemp Fiber Market Rising at an Annual Rate of 6.9%

Rhea-AI Summary

On September 22, 2022, Hemp Inc. reported insights from Data Bridge Market Research indicating a robust 6.9% annual growth in the global hemp fiber market projected from 2021 to 2028. The report emphasizes rising consumer awareness of hemp's benefits, driving demand across industries like automotive and construction. Key factors contributing to this growth include the organic nature of hemp, increasing product applications, and the surge in legalization for hemp cultivation. Hemp Inc. remains committed to providing sustainable solutions as it leverages its extensive experience in the hemp industry.

Positive

• Projected 6.9% annual growth in the global hemp fiber market from 2021 to 2028.
• Increased demand for hemp across various sectors including automotive, construction, and personal care.
• Hemp's organic cultivation attracts consumers seeking natural products, enhancing market demand.

Negative

• None.

Las Vegas, NV, Sept. 22, 2022 (GLOBE NEWSWIRE) -- via NewMediaWire -- Hemp Inc. (OTC PINK: HEMP), would like to share the Digital Journal’s recent article from Data Bridge Market Research, which claims that the global hemp fiber market is rising at an annual rate of approximately 6.9% in the forecasted period of 2021 to 2028. Data Bridge Market Research is a multinational management consulting firm, with offices in India and Canada. The Company provides a variety of services such as market verified industry reports, technology trend analysis, formative market research, strategic consulting, vendor analysis, production and demand analysis and consumer impact studies.

Data Bridge Market Research notes that the rise in the awareness regarding the benefits of hemp is escalating the growth of the hemp fiber market. Hemp is utilized in the processing and manufacturing of various products such as paper, textile, insulation and construction material, personal care products, nutraceutical, bio-plastics and bio-fuel. Hemp is also used in food and beverage products, as it is primarily grown organically, with no use of toxic chemicals, pesticides, fertilizers or herbicides.

The demand for natural organic products over pharmaceuticals among customers across the globe acts as one of the major factors driving the growth of the hemp fiber market. The increase in demand for hemp fibers in various industries such as automotive, construction, food and beverage, personal care and textile, especially in emerging regions and the rise in the investment for the production of hemp-based products, is accelerating the growth in the hemp fiber market. Global awareness, as it relates to the therapeutic properties of the product and the low prices of hemp, is encouraging farmers to diversify their crop options, which ultimately influences the hemp fiber market. Additionally, the increase in use for numerous food applications, the rise in the legalization in the cultivation of hemp, emerging consumer trends, the surge in the number of social media influencers, is promoting the benefits of the product, the prevalence of chronic diseases and mergers and acquisitions among key players, is positively affecting the hemp fiber market. Furthermore, research and development activities and product development is extending the profitable opportunities to the hemp fiber market players in the forecasted period from 2021 through 2028. 

It is definitely an exciting time to be in the hemp market.

About Hemp, Inc.
With more than 10 years of experience in growing and processing hemp in North America, Hemp, Inc. has an established network of industry professionals in every segment of the industrial hemp industry. Hemp, Inc. has the largest industrial multipurpose hemp processing facility in North America, an 85,000-square foot facility in Spring Hope, N.C.  Its mission of providing green solutions that help make the world a better place continues to flourish as the company advances an ever-growing portfolio of revenue and value-generating synergistic businesses. Hemp may be the salvation in retooling America for greener, more sustainable domestic manufacturing.

To catch up with the latest news on Hemp, Inc., be sure to check out:
Hemp, Inc. Offers CBD-CBG Topical Pain Relief Roll-On
Hemp, Inc.'s Chief Visionary Consultant Bruce Perlowin Brings Opportunity to Hemp, Inc. (August 8, 2022)
Hemp Inc.'s CBDA and CBGA Products on Sale Now (July 19, 2022)
Hemp Inc.'s Chief Visionary Consultant Bruce Perlowin talks with Stock Day podcast about Hemp Inc.'s super potent line of CBD/CBG/CBN Products (July 7, 2022)
Healthy Products for Healthy Living: A Look into Hemp, Inc.'s Pure, Premium, and Potent CBD and Wellness Products (June 16, 2022)
Hemp, Inc. Releases New High Potency CBD/CBG Vanilla Flavored Coffee Enhancer (June 9, 2022)
Hemp, Inc.'s King of Hemp CBD-CBG-CBN Natural Sleep Aid Capsules in Stock and On Sale (May 26, 2022)
King of Hemp Natural and Vanilla-Flavored CBD/CBG "Super" Tinctures Now in Stock (May 12, 2022)

The Company will continue to keep its shareholders up to date on all pertinent material events, product releases, production plans, and inventory availability. Those interested in distributing on a large-scale basis should email sales@hempinc.com or call 877-436-7564 for more information. The entire product line includes tinctures, gummies, capsules, and edibles in a variety of sizes, potencies, flavors, and formulas with a future focus on healthy foods for healthy living.

Forward-Looking Statements
This press release may contain certain forward-looking statements and information, as defined within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934 and is subject to the Safe Harbor created by those sections. The Securities and Exchange Commission (SEC) requires issuers to provide “adequate current information”. Financials for Hemp, Inc. are listed on the OTC Exchange. More information can also be found on the Hemp, Inc. website by visiting www.hempinc.com/hemp-financial-disclosures/. Material contains statements about expected future events and/or financial results that are forward-looking in nature and subject to risks and uncertainties. Such forward-looking statements involve risks and uncertainties.

Contact: Hemp, Inc.
ir@hempinc.com | (855) 436-7688
Sales: (877) 436-7564

FAQ

What is the projected growth rate for the hemp fiber market according to Hemp Inc.?

The hemp fiber market is projected to grow at an annual rate of approximately 6.9% from 2021 to 2028.

Which industries are driving the demand for hemp fibers?

Industries driving demand for hemp fibers include automotive, construction, food and beverage, personal care, and textiles.

What benefits does hemp offer that are increasing its market growth?

Hemp offers benefits such as organic cultivation, versatility in applications, and therapeutic properties, making it increasingly popular.

How does Hemp Inc. plan to leverage its position in the hemp industry?

Hemp Inc. aims to leverage its extensive experience and the largest industrial hemp processing facility in North America to provide sustainable solutions.