(MENAFN- EIN Presswire) Allied Market
PORTLAND, OREGON, UNITED STATES, February 9, 2023 /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.
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Hemp clothing is fast becoming popular in the fashion industry. Owing to the growing awareness regarding the environment and climate change, consumers now want to ensure that the brands they buy from are using eco-friendly and sustainable materials. This is a major trend that drives the hemp clothing market. Moreover, most clothing companies have their online channels where consumers get valuable information regarding the latest products, reviews provided by other consumers, and more. The online platforms also offer a wide range of clothing products and allow consumers to compare prices and products by various sellers. For all these reasons, the number of consumers shopping online is only increasing, which catalyzes the growth of the market. Hemp clothing is also becoming more fashionable, and new styles are continuously being introduced, which is attracting more fashion-conscious consumers. Furthermore, technological advancements in the hemp clothing sector that make it easier for farmers to produce, process, and distribute hemp for commercial use further propel the market growth.
The hemp clothing market consists of manufacturing companies of all sizes. More companies are turning to hemp as they see it as a potential market for the future. For instance, in September 2022, London-based clothing brand Vollebak unveiled its new hoodies and sweatpants featuring hemp and black algae. Carbon black pigment, being a harmful substance, the company replaced it with a color made from black algae.
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The future of hemp clothing is promising due to the increasing demand for sustainable and eco-friendly fashion. Hemp has several advantages over traditional textiles such as cotton, including being more environmentally friendly to grow and process, as well as being durable and comfortable to wear.
Additionally, as awareness of the environmental impact of the fashion industry continues to grow, consumers are becoming more interested in sustainable fashion options, and hemp clothing is poised to benefit from this trend. The market for sustainable and eco-friendly fashion is expected to grow in the coming years, and hemp clothing will likely play a significant role in this market.
However, hemp clothing is still a niche market, and there are challenges that need to be overcome for it to become a major player in the textile industry. These challenges include limited processing and manufacturing capabilities, higher costs compared to traditional textiles, and limited consumer awareness of the benefits of hemp clothing.
In conclusion, the future of hemp clothing looks bright, and it has the potential to play a significant role in the sustainable fashion movement. However, it will likely face challenges along the way and will require continued innovation and investment in the industry to reach its full potential.
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.
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 byeminent players of the market.
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