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Post: Hemp Clothing Market to Hit $23B by 2031, Report Predicts

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Hemp Clothing Market to Hit $23B by 2031, Report Predicts

Shutterstock Hemp clothing is making a comeback, marking the hemp textile industry’s latest resurgence in the clothing sector. Researchers say the reasons for the surge include hemp’s notable sustainable and eco-friendly characteristics, and its return on investment.

According to a March 26 press release , Allied Market Research, the hemp clothing industry is on a trajectory showing steady growth into the next decade. The global hemp clothing market size was valued at $2.29 billion in 2021, and is projected to reach $23.02 billion by 2031, growing at a compound annual growth rate (CAGR) of 27.1%

Allied Market Research analysts explained the factors that make hemp an attractive investment in 2024, besides being a breathable and durable fiber.

“Hemp fabric requires less water, chemical fertilisers, pesticides, and herbicides than other fabrics,” the report reads. “It has a lower carbon footprint than many other crops because it is effective at removing carbon dioxide from the environment. In a growing season, one acre of hemp will absorb 10 to 15 tonnes of CO2, which is equal to the typical annual CO2 output of one person.”

There are more reasons hemp is more eco-friendly than alternative textiles, which includes the beneficial uses of hemp seed as well.

“Hemp is up there on the list of eco-friendly textiles and fibres with jute, organic cotton, flax (linen), and bamboo,” the report continues. “Animal bedding and insulation can be made out of hemp fibre from the stem and hemp seed, respectively. Hemp is also good for the soil. If hemp was originally planted in a field, the production of maize from that field will be higher. Following the harvest of hemp, it’s also a good idea to sow wheat and barley. Some producers are trying to get hemp and cannabis growing certified as organic because of all the potential environmental advantages.”

“According to studies on consumer behaviour, between 2000 and 2014, the average customer purchased 60% more clothing, yet they only maintained each item for half as long,” the report continues. “The sobering facts showing the amount of pollution and harm to our rivers, oceans, and atmosphere the fashion industry is […]

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