Global Hemp Paper Market To Witness Rapid Growth During The Forecast Period

The global hemp paper market size was worth around USD 510.39 million in 2022 and is predicted to grow to around USD 1,683.94 million by 2030 with a compound annual growth rate (CAGR) of roughly 16.09% between 2023 and 2030. 

Hemp paper is produced using the fibers of the hemp plant which is a strain of Cannabis sativa species of plants. The hemp plant is cultivated due to its excellent applications in end-user verticals such as in the production of paper, textiles, and building materials. Hemp paper has a long history that dates back to before the 15th century as many paper-based artifacts from previous centuries have been discovered in recent times. All of these items are in good condition even after being subjected to multiple decades of harsh environments and other factors. The wood pulp industry gained more following only in the 19th century and historians have stated that before wood pulp-based papers, hemp-based papers were used more extensively due to their greater strength and durability. In addition to the superior physical properties of hemp papers, they are also more environmentally friendly since they are now raw materials-intensive crops. The label stock industry is expected to witness rapid growth during the forecast period.

This review is based on a report by Zion Market Research, titled "Hemp Paper Market Based On Type (Industrial Grade And Non-Industrial Grade), By Application (Packaging & Printing, Bible Paper, Tea Bags, Stationary, Filter Paper, Cigarette Paper, Binding Papers, And Others), By Source (Conventional And Organic), And By Region - Global And Regional Industry Overview, Market Intelligence, Comprehensive Analysis, Historical Data, And Forecasts 2023 – 2030?"- Report at https://www.zionmarketresearch.com/report/hemp-paper-market

The global hemp paper market is projected to grow owing to the increasing rate of legalization of hemp cultivation. Several countries, in recent times, have provided the required legal status to cultivate hemp crops. This has resulted in the overall production process of hemp paper becoming more cost-effective and easier as compared to older times. Some of the countries that allow large-scale hemp cultivation are the US, China, Canada, European Union, Australia, South Africa, Uruguay, and India.

Furthermore, the increasing demand in the paper industry to introduce more environmentally-friendly options and cultivation processes could lead to higher revenue in the hemp paper industry. This is mainly because hemp cultivation does not require the use of harmful chemical pesticides. It can also be cultivated using relatively less amount of water, leading to reduced concerns over deforestation and soil erosion. Moreover, the technology surrounding hemp paper production has undergone a massive transformation in the last few years resulting in better and improved product yield. The new systems have made the final product more cost-effective while being high-quality. Other factors such as rising awareness rate and the growing importance of sustainability are other reasons for growth in the industry.

The global hemp paper market also faces certain growth restrictions. One such major issue is the existence of legal restrictions in several parts of the world. Although certain countries have provided hemp cultivation with legal rights, a large part of the global order has heavy restrictions on hemp and its derived products. For instance, some countries have concerns over the delta-9-tetrahydrocannabinol (THC) contents of the hemp plant which is a psychoactive compound. Furthermore, competition from other materials could lead to lesser revenue. Hemp paper faced tough competition from alternatives such as recycled paper and synthetic fibers.

The growing investment in hemp-based products could provide growth opportunities while the Limited supporting infrastructure may challenge market growth.

The global hemp paper market is segmented based on type, application, source, and region.

Based on type, the global market segments are industrial grade and non-industrial grade. The hemp paper industry witnessed the highest growth in the industrial-grade segment in 2022 since it is the most common type of hemp paper used worldwide. This version of the paper is made from the inner bark, also known as bast fiber, of the hemp plant. They are stronger and longer fibers making them a preferred choice in the plant industry. Industrial-grade hemp paper is known to be more durable and it can also be used for wider applications such as packaging and currency, amongst many other uses. On the other hand, non-industrial grade hemp paper is made out of weaker and shorter fibers of the hemp plant and can result in lower-quality paper products. As per the United Nations Office on Drugs and Crime, the global production of hemp in 2020 increased by 30%.

Based on application, the global hemp paper market segments are packaging & printing, bible paper, tea bags, stationary, filter paper, cigarette paper, binding, and others. In 2022, the highest CAGR was observed in the packaging & printing applications due to the extensive use of hemp paper for these purposes. In addition to this, binding papers and stationary were another set of significant contributors to the global market since hemp papers are widely used for book production and writing. Cigarette paper and filter papers are considered to be industrial applications of hemp paper as they are used for purposes such as air and liquid filtration and tobacco products. As of 2023, the Gutenberg Bible, printed in the 15th century on hemp paper is still in good condition.

Based on source, the global market segments are conventional and organic.

The global hemp paper market is projected to witness the highest growth in North America. The US may lead with the largest part of the revenue share. One of the primary reasons for higher growth is the recent legalization of hemp crop production. This has led to several companies investing in the recently legally available opportunities that have been left unexplored in terms of hemp crops. In addition to this, the changing dynamics in the regional pulp and paper sector could cause more demand for hemp-based paper.

In Europe, the entire unit has provided legal authority to hemp cultivation which is an important reason for regional expansion. The increasing demand from the regional population to introduce more eco-friendly products could oppose traditional paper made from wood pulp. Moreover, the ongoing support from the government with the territory heads supporting several research programs on hemp crops could be a major growth propeller.

Recent Developments:

• In May 2022, Hempacco, Co. Inc., a leading manufacturer of herb and hemp cigarettes, announced the launch of Hemp Hop, which is a line of hemp rolling papers and Cannabidiol smokables
• In May 2022, a group of activists from the UK launched a civil disobedience campaign that encouraged people to grow hemp even without a license. The group intends to free the crop from the regulatory regime and make the crop available to all

Hemp Paper Market: Competitive Analysis

The global hemp paper market is led by players like:

• Hemp Press
• Green Field Paper Company
• Canamo Papers
• Taima Corporation
• Hemp Age
• Hempline Inc.
• Paper Connection International
• The Hemp Cooperative
• Pure Hemp
• Hemp Heritage
• Bohemia Paper
• The Hemp Trading Company
• Hempzels
• EnviroTextiles
• Hemp Pulp & Paper GmbH
• Nature's Paper
• GreenFiber International
• Tree Free Hemp
• Phoenix Pulp and Polymer
• HempFlax
• Sana Hemp Juice
• Hemp Business Journal
• Bambu Rolling Papers. Natural Value Initiative
• Rawganique.

The global hemp paper market is segmented as follows:

By Type

• Industrial Grade
• Non-Industrial Grade

By Application

• Packaging & Printing
• Bible Paper
• Tea Bags
• Stationary
• Filter Paper
• Cigarette Paper
• Binding Papers
• Others

By Source

• Conventional
• Organic

By Region

• North America
  • The U.S.
  • Canada
• Europe
  • France 
  • The UK
  • Spain
  • Germany
  • Italy
  • Rest of Europe
• Asia Pacific
  • China
  • Japan
  • India
  • South Korea
  • Southeast Asia
  • Rest of Asia Pacific
• Latin America
  • Brazil
  • Mexico
  • Rest of Latin America
• Middle East & Africa
  • GCC
  • South Africa
  • Rest of Middle East & Africa

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