I think paracord is popular in bushcraft circles, because used in pilot survival trainings.
But for a hiker lines from a boat shop or mountain equipment shop are the better option.
I use Edelrid 2,5 mm Multicord SP in orange colour. It's relatively cheap, very light but very strong. It's made in Germany and you can feel it if making knots.
Edelrid usually makes climbing ropes, but other equipment too.
The 3 mm version of this cordage is black.
If one tried it and knows what's needed, one finds similar cordage in every good yacht shop for similar prices. I use such cordage too because I like to see immediatly from the colour which length of cordage is that.
That the stuff is offered usually in bright colours isn't a fault, because the strength we usually need is thin like gras. If it's bright coloured it's well visible in gras.
Kletterausrüstung. Reepschnüre. Die robusten Alleskönner MULTICORD SP mit 2,5 mm Durchmesser finden vielseitig Verwendung | Edelrid
www.edelrid.de