- Industrial hemp is a versatile and sustainable crop used in a wide range of industries, including textiles, construction, pharmaceuticals, and food. It is valued for its eco-friendly properties and high-value applications such as CBD production, bioplastics, and building materials
- The demand for industrial hemp is driven by the growing preference for sustainable materials, advancements in hemp cultivation techniques, and increasing legalization and regulatory support in various countries. A key driver is the rising demand for hemp-based products, particularly in the wellness and health sectors
- North America, particularly the United States and Canada, is one of the dominant regions for industrial hemp, supported by favourable regulatory frameworks and the increasing popularity of CBD and hemp-derived products
- For instance, the U.S. has witnessed significant growth in the hemp industry since the 2018 Farm Bill legalized hemp cultivation, leading to more farmers entering the market and expanding the hemp supply chain
- Globally, industrial hemp is gaining traction as a key raw material in sustainable product manufacturing, and its growing popularity positions it as a critical resource for industries focused on reducing environmental impact
