Hemp manufacturing is re-emerging as a global industry, having historically been a major traditional industry in many parts of the world. The factors driving the resurgence are numerous, and include various commercial and environmental considerations.
The textile sector has been the fastest growing sector of this renewable industry. Not surprising given the long history of hemp’s use as rope, sailcloth, clothing, etc. However, hemp is also seeing significant use in other industries and is the subject of exciting research and development activity in more, including; Cosmetics, food and beverage, livestock feed, paper, building materials, bioplastics/vehicles, biofuels and energy storage.
Activity in cannabis grows on every continent. European countries such as France and the Netherlands have well-established companies operating within a regional ecosystem, which is now seeing demand and competition from new European operators, as well as emerging players in China and North America. Chinese hemp cultivation has now surpassed any other country, making China a major global supplier. The United States has given the green light to pretty much the entire industry with its 2018 Farm Bill and is taking lessons from Canada, which already has a well-established industry.
Several Latin American countries, in addition to Australia and New Zealand, are also experiencing burgeoning early-stage markets, and African nations are laying foundations for major cannabis industries based on their favorable climates and pre-existing local expertise. The potential for cannabis application in industry is now being embraced in ways that support the three pillars of sustainability – social, environmental and economic. It is a crop with soil regeneration properties, produces carbon-negative raw materials, and is multi-purpose; Each part of the plant has the possibility of use. This presents socially responsible business opportunities, and while it is not a panacea for all sustainability issues, it does provide economic opportunities based on “green” alternatives to traditional products.
More work is needed to see the global industrial hemp industry thrive, and this is already underway in many countries, with rising education, government support, supply chain optimization and technological improvement across the sector. The industry is still in its infancy, and now is the time for players to seize the opportunity to join in the growing interest.
mentioned companies
- Alternet Systems, Inc. (ALYI)
- Audi
- BMW
- SPC circular systems
- Dr. Bronner
- Estee Lauder
- stronghold
- Greenfield Paper Company
- H&M
- IKEA
- L’Oreal Collection
- fibrous
- Patagonia
- Shenzhen Datong
- Tilray
- Trivelon
- Victory Foods Hemp
- Volkswagen
Impact Chain: The Industrial Hemp Report includes:
- An overview of the global industrial hemp industry
- Insights into the industrial uses of cannabis
- Information on hemp and sustainable development
- Environmental benefits of hemp cultivation
For more information on this report visit https://www.researchandmarkets.com/r/wn3s8r
Source: https://www.businesswire.com/news/home/20211223005390/ar/
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