Global Hemp Fiber Market, Trends, Opportunity, and Forecast, 2029F: Rising Demand for Sustainable Materials, Growth in Textile Industry, Advancements in Processing [Yahoo! Finance]
HEMP INC (HEMP)
NASDAQ:AMEX Investor Relations:
hempinc.com/investor-relations
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Source: Yahoo! Finance
Forecast, 2019-2029F" report has been added to ResearchAndMarkets.com's offering. Global Hemp Fiber Market was valued at USD 378.56 million in 2023 and is anticipated to project impressive growth in the forecast period with a CAGR of 7.00% through 2029.The global hemp fiber market is experiencing remarkable growth driven by increasing awareness of its environmental benefits and versatile applications. Derived from the sturdy stalks of the Cannabis sativa plant, hemp fibers have emerged as a sustainable alternative to traditional materials like cotton and synthetic fibers. This growth can be attributed to several factors. Heightened awareness of environmental sustainability has prompted industries to shift towards eco-friendly alternatives. Hemp, being a naturally abundant and fast-growing crop, requires minimal water and pesticides, reducing its ecological footprint compared to conventional crops. Hemp cultivation enriches soil health through phytoremediation, making it an attract
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