Global Hemp Hurd Market Size is expected to reach at a CAGR of 12.3% and, this report covers Market growth, trend, opportunity and forecast 2024 - 2031
The "Hemp Hurd Market" has experienced impressive growth in recent years, expanding its market presence and product offerings. Its focus on research and development contributes to its success in the market.
Hemp Hurd Market Overview and Report Coverage
Hemp hurd, also known as hemp shives or hemp core, is the inner woody core of the hemp plant. It is a byproduct of hemp fiber production and has various industrial applications such as building materials, animal bedding, and biofuels. With the growing demand for sustainable and eco-friendly products, the hemp hurd market is expected to witness significant growth in the coming years.
The future outlook of the hemp hurd market looks promising, with a projected growth rate of 12.3% during the forecasted period of 2024-2031. This growth can be attributed to the increasing awareness about the environmental benefits of using hemp hurd, as well as the rising demand for sustainable construction materials. Additionally, the versatility and durability of hemp hurd make it an attractive alternative to traditional materials, driving its market expansion.
The current market trends also indicate a surge in research and development activities focused on maximizing the potential of hemp hurd across various industries. With advancements in processing technologies and increasing investment in hemp cultivation, the market is poised for robust growth in the coming years. Overall, the hemp hurd market is on track to become a key player in the sustainable materials industry, offering a viable solution for eco-conscious consumers and businesses.
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Market Segmentation
The Hemp Hurd Market Analysis by Types is segmented into:
Size <=10mmSize >10 mm
The Hemp Hurd market can be categorized into two main types based on the size of the particles: Size <=10mm and Size >10mm markets. The Size <=10mm market refers to the smaller particles of hemp hurd, commonly used in applications such as animal bedding, soil amendment, and insulation. On the other hand, the Size >10mm market consists of larger particles that are typically used for construction materials, such as hempcrete and fiberboard. Both markets serve different industries and applications within the hemp hurd industry.
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The Hemp Hurd Market Industry Research by Application is segmented into:
ConstructionAnimal BeddingGardeningComposite Materials
Hemp hurd, the woody inner part of the hemp stalk, has various applications in the market. It is used in construction for making hempcrete, a sustainable building material. Hemp hurd is also used in animal bedding for its absorbent and odor-reducing properties. In gardening, it is used as mulch or soil amendment. Additionally, hemp hurd is used in making composite materials for automotive and furniture industries due to its strength and sustainability.
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In terms of Region, the Hemp Hurd Market available by Region are:
North America: United States Canada Europe: Germany France U.K. Italy Russia Asia-Pacific: China Japan South Korea India Australia China Taiwan Indonesia Thailand Malaysia Latin America: Mexico Brazil Argentina Korea Colombia Middle East & Africa: Turkey Saudi Arabia UAE Korea
The Hemp Hurd market in North America is witnessing significant growth due to the increasing demand for sustainable and eco-friendly products. The United States and Canada are leading contributors to the market with a growing number of hemp cultivation and processing facilities. In Europe, countries like Germany, France, the U.K., and Italy are also showing promising market opportunities with a focus on hemp-based construction materials and textiles. Asia-Pacific, particularly China and Japan, are emerging markets with a high potential for growth in the hemp hurd industry. In Latin America, Mexico, Brazil, and Argentina are investing in hemp production for various applications. The Middle East & Africa region is also displaying potential opportunities, especially in countries like Turkey and the UAE. Key players like NATŪRALUS PLUOŠTAS, Schönthaler, and HempFlax are driving the market growth with innovative products and technologies. The market is supported by factors such as increasing awareness about the benefits of hemp, favorable government regulations, and growing demand for sustainable products.
Hemp Hurd Market Emerging Trends
The global hemp hurd market is witnessing several emerging trends, such as the increasing use of hemp hurd in the construction industry as a sustainable and cost-effective alternative to traditional building materials. Additionally, the growing awareness about the environmental benefits of using hemp hurd as a biodegradable and carbon-negative material is driving its demand in various end-use industries. Current trends in the market include the development of advanced processing technologies to improve the quality and efficiency of hemp hurd production, as well as the expansion of hemp cultivation areas to meet the rising demand for this versatile material.
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Major Market Players
NATŪRALUS PLUOŠTASSchönthalerHempFlaxAmerican HempSouth Hemp TecnoSunstrandHemptopiaPlains Industrial Hemp ProcessingColorado Cultivars
One of the key players in the Hemp Hurd market is HempFlax, a Dutch company that specializes in the cultivation and processing of industrial hemp. HempFlax is known for producing high-quality hemp hurd that is used in various industries such as construction, automotive, and animal bedding. The company has seen significant market growth in recent years due to the increasing demand for sustainable and eco-friendly products.
Another prominent player in the market is American Hemp, a US-based company that focuses on hemp cultivation and processing. American Hemp has been at the forefront of the industrial hemp industry in the United States and has seen steady market growth over the years. The company's commitment to sustainability and quality has helped it gain a strong foothold in the market.
In terms of market size, the global Hemp Hurd market is expected to reach a value of over $1 billion by 2027, with a compound annual growth rate of around 10%. This growth can be attributed to the increasing awareness about the benefits of hemp hurd as a sustainable alternative to traditional materials.
Some of the other key players in the market include NATŪRALUS PLUOŠTAS, Schönthaler, South Hemp Tecno, Sunstrand, Hemptopia, Plains Industrial Hemp Processing, and Colorado Cultivars. These companies also play a significant role in driving the growth of the Hemp Hurd market.
While specific sales revenue figures for each of these companies are not publicly available, it is clear that the Hemp Hurd market is thriving and offers numerous opportunities for growth and innovation. The latest trends in the market include the development of new hemp hurd-based products, increased research and development in hemp cultivation techniques, and the expansion of hemp processing facilities to meet the growing demand for hemp hurd.
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