This study investigated the optimal use of industrial hemp fibers for polylactide (PLA) biocomposite and linear low density polyethylene (LLDPE) composite reinforcement. In these samples both low-grade fiber, waste and high-quality hemp fiber are used. To optimize the use of hemp fiber in both the biocomposite and the fossil-based polymer matrix composite, the first phase of the technology envisages the use of high-quality hemp fibers in the production of the PLA biocomposite. This process also produces a by-product (hemp waste). Further, in the second stage, the technology envisages the use of hemp waste in the production of LLDPE (semi-fossil) composite. PLA and hemp fiber biocomposites have high mechanical properties, which allow reducing the amount of materials in the product. Also, low-grade fiber composites show remarkable mechanical properties. The advantage of extracting hemp fibers is that it is possible to use all parts of the plant at the same time for the production of different products – hemp seeds, their shells, hemp shives, thus maximizing the value added of this resource, that conforms to the concept of sustainable development and circular economy principles. Also, it improves the ecological assessment (Life Cycle Assessment) of the product and reduces the environmental impact. Annually renewable hemp fiber resource has the potential to create new products and develop the renewable material industry in EU. Considering the Europe Green Deal guidelines [1], it is important for the manufacturer to provide a sustainable, economically justified and environmentally friendly material (switch to recyclable materials till 2021, switch to recycled, reusable or alternative materials till 2025).