PORTLAND, OREGON, USA, July 28, 2022 /EINPresswire.com/ — According to a new report published by Allied Market Research, titled “hemp clothing market“The Hemp Apparel Market size was valued at USD 2.29 Billion in 2021 and is projected to reach USD 23.02 Billion by 2031, growing at a CAGR of 27.1% from 2022 to 2031.
Hemp is an industrial variant of the cannabis plant. It is the most useful plant known to mankind. In fact, cannabis sativa means useful hemp (sativa) (cannabis). It is used to make over 25,000 different products, most of which are superior alternatives to less environmentally friendly products. Some of the products produced are: clothing, footwear, diapers, rope, canvas, cellophane, paints, fuels, chain lubricants, biodegradable plastics, paper, fiberboard, cement blocks, food, cosmetics and soap. Hemp is the longest and strongest natural fiber known to man, with its use dating back over 10,000 years.
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The hemp clothing market offers significant room for growth over the forecast period. Currently, the market is approaching the mature stage and is expected to register steady growth in major markets including the United States, China, and India. The hemp clothing market has witnessed steady growth even under several turmoil such as global uncertainty, weakening global economy, etc. According to information from CXOs, the activewear segment is expected to witness significant growth, due to the increase in consumer affinity towards activewear. In addition, increase in sporting events sponsored by government and private organizations to increase the participation of young people from developing regions is driving the growth of the sportswear segment.
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Main results of the study
Based on type, the apparel segment has dominated the global market and holds a hemp apparel market share of 21.2%.
On the basis of end-user, women’s segment would dominate the global hemp clothing market Market trends in 2021 and is expected to remain dominant during the forecast period.
Based on the distribution channel, the others segment is expected to be the fastest growing segment during the forecast period.
Regionally, the LAMEA region is expected to be the fastest growing segment over the forecast period and North America led the global market with a market share of 40.5%.
The hemp industry continues to make substantial innovations in cultivation and machinery to grow hemp plants more efficiently. Innovation in cultivation and machinery gives farmers the ability to triple the planting and harvesting of industrial hemp in volume.
An example of the hemp industry’s latest technological inventions is the machinery developed by Canadian Greenfield Technologies Corporation. They have a clever design that allows farmers to separate and process raw hemp by separating fibers, fibers and leaves during harvest. This technology makes it easier for farmers to produce and distribute hemp for commercial purposes.
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The hemp clothing market opportunity is segmented into type, end-user, distribution channel, and region. Based on type, the market is categorized into shirts, pants, t-shirts, sportswear, coats & jackets, dresses, underwear, and others. Based on the end user, the market is categorized into men, women, and children. Based on distribution channel, it is fragmented into supermarket/hypermarket, independent retail stores, online sales channel and others. Regionally, it is analyzed in North America (United States, Canada and Mexico), Europe (United Kingdom, Germany, France, Italy, Spain, Russia and rest of Europe), Asia-Pacific ( China, India, Japan, Australia, South Korea and Rest of Asia-Pacific) and LAMEA (Latin America, Middle East and Africa).
By type, the apparel segment was the largest contributor to the market, in 2021, and is expected to grow at a CAGR of 25.9% during the forecast period. However, the sportswear segment is expected to witness a higher growth rate during the forecast.
According to the end-user hemp clothing market forecast, the women’s segment dominated the market in 2021 and is expected to grow at a CAGR of 26.5% during the forecast period. However, the children’s segment is expected to witness a higher growth rate during the forecast.
Based on the analysis of the hemp clothing market by distribution channel, the independent retail store segment showed the highest growth in 2021 and is expected to register a CAGR of 26.5% during the forecast period. . However, the others segment is expected to witness a high growth rate of 28.4% during the forecast period.
Regionally, North America was the largest contributor to the hemp clothing market size in 2021 and is expected to grow at a CAGR of 24.6% during the forecast period. The LAMEA region is expected to witness a high growth rate during the forecast period.
According to market participants, the main impediment attributed to the pandemic was supply chain disruption. In addition, all distribution channels were almost closed in the first quarter of the pandemic. However, online channels such as Amazon and Flipkart were delivering the products. Major players in the hemp clothing industry are Back Beat Co, Ecofibre, Eileen Fisher, Groceries Apparel, Jungmaven, LANIUS GmbH, Levi Strauss &Co, ONNO T-Shirt Company, Outerknown, Patagonia, Inc, Tentree, Thought Clothing, TOAD&CO, United By Blue and WAMA UNDERWEAR.
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Allied Market Research (AMR) is a full-service market research and business consulting wing of Allied Analytics LLP based in Portland, Oregon. Allied Market Research provides global corporations as well as small and medium enterprises with unrivaled quality of “market research reports” and “Business Intelligence solutions”. AMR has a focused vision to provide business insights and advice to help its clients make strategic business decisions and achieve sustainable growth in their respective market area.
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