Is Hemp the Next Source of Income for Farmers and States?

The global industrial hemp market is expected to grow at an average annual growth rate of 34% from 2019 to 2026.IIndustrial hemp is an agricultural plant that uses all of the plant’s by-products such as seeds and twigs to make hemp seeds, hemp fiber and other environmentally friendly products, pushing it to the forefront of sustainability products.

July 20th marked the beginning of theHemp History Week, the largest hemp awareness campaign in the United States, starts in JulyNational hemp month. The hemp and CBD industry has grown at a rapid pace since 2014, from a niche curios constantly exposed to the threat of criminal regulation to a mainstream lifestyle movement fueled by tremendous innovation and increasing consumer acceptance .

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Now in a $ 2 billion industry, CBD is sold on Amazon and at Target, Walmart, CVS, Walgreens, and other mainstream retailers. The Hemp History Week aims to raise awareness of environmental sustainability, health benefits, the potential of regenerative agriculture and new technological applications of industrial hemp.

After the passage of the Farm Bill in December 2018, which legalized the cultivation and sale of hemp products, CBD stole the limelight as the main use case for hemp. Surprisingly, only 3% of the hemp is processed into CBD; 98% is used in building materials, biofuels, biotextiles, bioplastics and more.

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From synthetic blood proteins to clothing, building materials and more, hemp offers a different world of alternatives.ECS brands, aSupplier of unique whole plant extractsfound a way to extract hemp protein in a way that is much cheaper than other hemp protein brands. ECS Brands helps hundreds of brands, manufacturers and processors improve their product development. Their hope is that the plant-based alternative meat universe, which partially depends on protein solutions, will turn to their affordable hemp protein, rather than pea and soy proteins which now dominate.

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“We believe that hemp can solvesome of the most complex and pressing challenges we face today and as an industry we have only just begun to scratch the surface of the potential of this asset, ”said Arther Jaffe, Founder and CEO of ECS Brands. “Although we have seen the industry develop at a rapid pace, there is a huge innovation deficit in hemp research and development and we are working to address that by examining all of the unique uses for hemp plant extracts. From alternative meat proteins to weight loss supplements, we’re doing new research that shows hemp is the leading ingredient for healthier lifestyles. “

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There is no doubt that replacing meat or plastic with plant-based alternatives is key to managing climate change and the health of life on our planet, but that only scratches the surface of hemp’s ability to replace various textiles and one Accelerate circular economy. Unlike synthetic textiles, which is the source of35% of the microplastic pollution are hemp textiles biodegradable, breathable, durable and antimicrobial.

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“Hemp is an environmentally friendly material because it is essentially a carbon sink and a number of different industrial materials such as bioplastics, biotextiles, building materials and paper can be made from its fibers from almost any part of the plant,” said Hebah Saddique, founder ofGreen Takeover, an educational platform that simplifies the complex worlds of climate protection and industrial hemp and shows why they are the real power couple of sustainability.

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As a building material, hemp is very promising. Hemp concrete, for example, has a number of desirable thermal, structural, and moisture wicking properties that make for excellent insulation. Depending on the size of the mix, hemp concrete can be used as roof, wall and / or ceiling insulation.

Today, industrial hemp can be made into more than 12,000 items that we use every day, including clothing, shoes, insulation, paper, and more.

Whether green or circular economy, the world is moving towards eliminating plastics and using biodegradable materials again. What does that mean? Hemp could be the next big source of income and benefit to the planet.