Regional Analysis
Hemp Fiber Market Regional Insights:
- North America is expected to be the largest market for hemp fibers during the forecast period, accounting for over 38% of the market share in 2023. The growth of the market in North America is attributed to the legalization of industrial hemp cultivation and rising hemp-based product launches.
- Asia Pacific is expected to be the fastest growing market for hemp fibers, accounting for over 22% of the market share in 2023. The growth of the market in is attributed to low farming costs, rising demand from the textile industry, and increasing legal cultivation.
- Europe is expected to be the second largest-growing market for hemp fibers, growing at a CAGR of over 24% during the forecast period. The growth of the market in Europe is attributed to favorable government policies, rising demand from automotive industry, and demand for hemp fiber in construction industries.
Figure 1. Global Hemp Fiber Market Share (%), by Region, 2023
| Geographies covered: |
- North America: U.S. and Canada
- Latin America: Brazil, Argentina, Mexico, and Rest of Latin America
- Europe: Germany, U.K., Spain, France, Italy, Russia, and Rest of Europe
- Asia Pacific: China, India, Japan, Australia, South Korea, ASEAN, and Rest of Asia Pacific
- Middle East & Africa: GCC Countries, Israel, South Africa, North Africa, and Central Africa and Rest of Middle East
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U.S.: 
U.K. : 
India : 
