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PORTLAND, OREGON, UNITED STATES, September 26, 2022 /EINPresswire.com / -- According to the report published by Allied market Research, the global hemp clothing market generated $2.29 billion in 2021, and is projected to reach $23.02 billion by 2031, growing at a CAGR of 27.1% from 2022 to 2031.The report offers a detailed analysis of the top winning strategies, evolving market trends, market size and estimations, value chain, key investment pockets, drivers & opportunities, and competitive landscape. The report is a useful source of information for new entrants, shareholders, frontrunners and shareholders in introducing necessary strategies for the future and taking essential steps to significantly strengthen and heighten their position in the market.
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Dynamics of the Hemp Clothing Market:
Understanding market drivers, benefits, opportunities, restrictions, and challenges is the focus of this section. The whole discussion of all of this is provided below:
Drivers
Clothing Made of Hemp Has a Number of Benefits
Due to its many benefits, including as its low cost, UV and mould resistance, lightweight, and absorbent makeup (with three times the tensile strength of cotton), hemp clothing is widely utilised. To offer the garment a variety of qualities, it can also be combined with other fibres. During the anticipated period, outstanding demand for hemp apparel services is expected to result from these all advantageous qualities.
An environmentally friendly method
The fact that hemp is a rapidly renewable resource and doesn't require the use of artificial fertilisers or pesticides has a positive impact on the environment. Additionally, nothing is wasted during the production of hemp because the stalks are used to generate fibre and the seeds are used to make dietary supplements and oil. Industrial hemp plants are better at absorbing carbon dioxide than forests are. These elements will accelerate the market for hemp garments even more.
Additionally, over the anticipated timeframe, the increased urbanisation and expanding study into the advantages of hemp will both contribute to an increase in market value. Additionally, hemp can be renewed two to three times per year and generates more fibre per acre than trees, both of which significantly speed up market expansion.
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This extensive report offers:
Increase strategic judgement
assistance with research, presentations, and business plans
Display new market opportunities so that industry knowledge can be improved.
It offers the most recent details on significant market happenings.
Create a smart growth strategy.
Gain technical understanding
A list of trends to take advantage of
Boost competitive analysis
You may avoid potential issues that other organizations might generate by offering a risk analysis.
In the end, you can increase the profitability of your business.
The report offers a detailed segmentation on the global hemp clothing market based on type, end-user, distribution channel and region. The report offers a detailed analysis of every segment and their respective sub-segment through graphical and tabular representation. This analysis might assist market players, investors, and new entrants in devising strategies based on fastest growing segments and dominating segments that is mentioned in the report.
Based on type, the dress segment held the largest market share in 2021, garnering more than one-fifth of the global market, and is expected to maintain its leadership status during the forecast period. The activewear segment, on the other hand, is expected to cite the fastest CAGR of 28.4% during the forecast period.
Based on end user, the women segment held the dominating market share in 2021, holding nearly three-fifths of the global market, and is expected to maintain its leadership status during the forecast period. The kids segment, on the other hand, is predicted to cite the fastest CAGR of 28.8% during the forecast period.
Based on distribution channel, the independent retail stores segment held the largest market share in 2021, garnering nearly half of the global market, and is expected to maintain its leadership status during the forecast period. The report also analyses other segment such as hypermarket, e-commerce, and others.
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Based on region, the market across North America held the largest market share in 2021, holding around two-fifths of the global market, and is expected to maintain its leadership status during the forecast period. The LAMEA region, on the other hand, is expected to cite the fastest CAGR of 30.3% during the forecast period.
The key players analyzed in the global hemp clothing market report include Patagonia, Inc, Tentree, Thought Clothing, TOAD&CO, Back Beat Co, Ecofibre, Eileen Fisher, Groceries Apparel, Jungmaven, LANIUS GmbH, Levi Strauss &Co, ONNO T-Shirt Company, Outerknown, United By Blue, and WAMA UNDERWEAR.
The report analyzes these key players of the global hemp clothing market. These market players made use of constructive strategies such as joint ventures, collaborations, expansion, new product launches, partnerships, and others to strengthen prowess in the industry. The report is helpful in analyzing recent developments, product portfolio, business performance and operating segments by eminent players of the market.
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About Us
Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Portland, Oregon. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of 'Market Research Reports' and 'Business Intelligence Solutions.' AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domain.
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