|Market Size in 2022
|Market Forecast in 2030
|CAGR (in %)
|USD 510.39 Million
|USD 1,683.94 Million
Hemp Paper Market
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. The report analyzes the global hemp paper market drivers, restraints/challenges, and the effect they have on the demands during the projection period. In addition, the report explores emerging opportunities in the hemp paper industry.
Hemp paper is paper made out of the fibers of the hemp plant. It is a strain of the plant species called the Cannabis sativa. The fibers obtained from the hemp plant are highly durable which makes the derived product an ideal option in the paper production sector. Hemp papers have been used for a variety of purposes for thousands of years. Its applications, as per studies, date back to ancient Egypt and China. As per scientific conclusions and research studies, some of the recently discovered oldest surviving paper-based artifacts are made of hemp paper. In modern times, it is increasingly gaining popularity as a more sustainable alternative to other forms of traditional paper that are made from trees.
Increasing emphasis on sustainability to drive market growth
The global hemp paper market is projected to witness a high growth rate mainly due to the greater emphasis on sustainable growth across industries including the paper sector. Hemp, the original crop used to prepare the derived paper, is a highly sustainable crop since it grows without the external assistance of herbicides or pesticides. Furthermore, its water requirement is far less than compared to traditional plant-based papers. As consumers become more aware of the current environmental situations due to irresponsible consumption patterns including non-sustainable growth such as the use of traditional paper which leads to deforestation and soil erosion, the demand for hemp-based paper is expected to witness a high growth rate.
Limited availability to restrict market growth
Although all of the properties associated with the hemp plant and the paper are directed toward positive outcomes, the global hemp paper industry deals with a limited supply of hemp fiber. It is a major cause of concern in the commercial sector since hemp fiber does not enjoy the same kind of ready availability as traditional paper made from wood pulp. The hemp plant grows in many parts of the world but currently, it is not a widely cultivated crop which impacts the availability of its fiber.
Growing investment in hemp-based products to provide growth opportunities
The global hemp paper industry is projected to witness higher growth opportunities owing to the increasing investment across the globe toward hemp-based products. The plant has several other benefits apart from using it to produce paper. Hemp-based nutritional items are known to be excellent sources of plant-derived proteins. With the rising curiosity of the commercial world in the hemp plant, the main resource for its paper could lead to better opportunities for expansion in the industry as well. In addition to this, by investing in better production processes, industries have improved their profit base and reduced additional costs.
Limited supporting infrastructure to challenge market growth
One of the key challenges faced by the global hemp paper industry players is the absence of adequate supporting infrastructure. The hemp industry, in general, is currently in its early stages even though the plant itself has enjoyed a sufficient rate of awareness. However, other areas such as commercial development of the hemp crop field, the supply chain for the derived products, and more information on the plant itself are still relatively unexplored. This means that the industry requires more resources to ensure that it can reach its true potential.
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 market 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.
Based on source, the global hemp paper market segments are conventional and organic. Currently, the most common source of hemp paper is conventional hemp. It is produced using traditional agricultural measures and practices and sometimes involves the use of synthetic fertilizers and pesticides. However, the demand for organic hemp papers has grown over the years due to organic farming being practiced in the cultivation of this version of hemp paper. Organic hemp paper is known to be more sustainable and environmentally friendly when compared to conventional hemp paper. It is also known to promote soil health, and biodiversity, and reduces the use of harmful chemicals. The FAO estimated that the annual rate of soil erosion globally is close to 24 billion tons.
|Hemp Paper Market Research Report
|Market Size in 2022
|USD 510.39 Million
|Market Forecast in 2030
|USD 1683.94 Million
|CAGR of 16.09%
|Number of Pages
|Key Companies Covered
|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, and Rawganique.
|By Type, By Application, By Source, and By Region
|North America, Europe, Asia Pacific (APAC), Latin America, Middle East, and Africa (MEA)
|2017 to 2021
|2023 - 2030
|Avail customized purchase options to meet your exact research needs. Request For Customization
North America to witness the highest growth
The global hemp paper market is projected to witness the highest growth in North America with the US, Canada, and Mexico acting as the largest contributors. One of the major reasons for higher growth in the region is the increasing demand for change in the paper industry with more consumers expecting sustainable solutions. Hemp paper can provide the changing regional paper industry to meet consumer expectations in terms of sustainable and environmentally friendly growth.
Moreover, the US is considered to be the largest consumer of paper-based products across the globe. The country is working toward reducing its dependence on unsustainable forms of paper procurement. In addition to this, the increasing rise of smaller papers that are working toward exploring the benefits of using hemp-based products such as edibles, blunts, and other items could also contribute significantly to the future forecast.
The global hemp paper market is led by players like:
Hemp paper is paper made out of the fibers of the hemp plant. It is a strain of the plant species called the Cannabis sativa.
The global hemp paper market is projected to witness a high growth rate mainly due to the greater emphasis on sustainable growth across industries including the paper sector.
According to study, 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.
The CAGR value of the hemp paper market is expected to be around 16.09% during 2023-2030.
The global hemp paper market is projected to witness the highest growth in North America with the US, Canada, and Mexico acting as the largest contributors
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, and Rawganique.