Wednesday, May 22, 2024

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Global Hemp Clothing Industry Expected to Surpass $23 Billion in Next Decade

The global hemp clothing market is booming. According to Allied Market Research, hemp clothing is expected to reach $23.02 Billion in market value by the year 2031. Hemp, unlike many other clothing materials has vastly superior benefits when compared to things like cotton. Hemp is lightweight, absorbent, and sustainable. When compared to other commonly used materials like cotton, hemp is the vastly superior material. Not only does the material perform better than cotton but requires significantly less water than cotton to produce the same amount.

Many experts are putting the cause of the hemp boom on the recent COVID-19 pandemic. With online shopping growing significantly since the start of the pandemic more people are shopping for clothes from the comfort of their home. Along with this online shopping craze, many consumers are looking for more durable, sustainable clothing. Hemp is the perfect material to make this happen.

Although COVID did boost the hemp clothing market for a stretch, it also harmed the industry. With regulations and restrictions being put in place around the globe, many of the manufacturing facilities have shut down or slowed production drastically. The import and export restrictions and supply chain issues does not help the hemp industry either. Many expect the industry to be back and booming within the next few years.

Experts also believe there are still some huge hurdles for the hemp clothing industry to overcome. These hurdles include a lack of awareness of the material as well as availability. As time moves forward and more people learn about hemp, the world can expect to see how versatile and beneficial this material is. Within the next few decades, expect hemp to become a norm, benefiting our society in more ways than one can count.

Read the unedited article here.

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