Will the Green New Deal involve hemp in 2021?
Throughout the American landscape and the world over, hemp has increasingly become a predominant crop farmed as a robust and renewable resource. Its origins date back to the Neolithic Age in China, and it has been gradually refined for various industrial applications like paper, textiles, and food manufacturing applications. The use of industrial hemp has steadily evolved to even greater varieties majorly due to its positive legislative relationship and its federal declassification as a controlled substance. Hemp contains cannabidiol (CBD), which is the brainchild of its increasing demand. Hemp will make a grand entry into the world's agronomic sphere as its agricultural and industrial markets emerge through the decades.
Today, hemp is mostly used as a raw material by large companies. While it can be successfully adapted to different products, its environmental benefits are even more impressive. Hemp fiber is a natural substitute for cotton and wood fiber. Hemp clothing is known for being sturdier, more durable, and cost-efficient than cotton clothing. The world's shifting perceptions on sustainability and environmentally sound products have sparked the increasing resurgence of interest in hemp among the diverse and increasingly politically influential and unified groups.
Hempcrete is a cheaper alternative for construction. The application of hemp into construction materials offers lower manufacturing costs compared to using wood. Additionally, hemp has proven to be stronger, lighter, and more durable than wood. It also offers better temperature control and heat insulation when added to the linings of buildings.
Food products sourced from hemp are an excellent source of protein and offer other health benefits at a lower cost. Hemp oil produced protein is a great substitute for soy products since they provide the body with the recommended percentage of essential fatty acids and a minimal percentage of saturated fats.
Resilient and robust
Hemp farming is steadily evolving to become hassle-free low-cost maintenance and profitable venture. Hemp plants can be grown in diverse locations with few resources. The hemp plants grow very densely, and farmers can therefore produce more hemp per acreage of farmland. The dense close-knit nature of hemp plants leaves no room for weeds to sprout. This significantly cuts down the cost of herbicides, pesticides, and time spent eliminating weeds. The whole experience becomes low-cost and low-input. CBD, an oil extracted from the hemp plant, is set for remarkable growth in its demand as hemp plants can grow and regenerate fast enough to keep up with the industry’s growing demand.
The loosening up of legislations and rules on the farming, harvesting, and supply of hemp coupled with favorable trade policies have influenced more farmers to embrace hemp farming-a positive shift that envisions a lucrative, sustainable green future.
The future of hemp
The future of hemp is still shaky, despite the positive impacts and breakthroughs, hemp is not the answer to all our agricultural and economic prayers-yet. Several aspects of hemp farming might be the key to a better green future fueled by hemp. Through research and development, hemp could spur dramatic positive ecological and economic benefits.
Combating hunger and poverty
Hemp oil and hemp seed provide important health benefits and can be further processed into flour and used as a healthy cooking oil alternative. The high-yield per acre, quick turnaround from harvesting to regeneration coupled with its resilience to different climates makes hemp a legitimate answer to hunger and poverty in today’s world.
As the world transitions to a future that embraces more sustainable agriculture practices, industrial hemp can help lead the way. Hemp is an annual crop that grows within just four months of being planted, it's an ideal candidate for crop rotation after hemp cultivation. Several farmers have reported a significant increase in yields from farms that previously grew hemp.
The global hemp industry is an incredible investment opportunity with the CBD industry projected to hit $20 billion by 2024 and $26.6 billion by 2025. The popularity of CBD has spearheaded the growth of the hemp industry as the CBD hemp oil segment projected to be the fastest-growing in the industrial hemp market sector.
A conscious consumer population
Consumers are increasingly demanding more hemp products; this offers more opportunities for entrepreneurs to find new and innovative ways to turn the crop into various consumer goods. And with more hemp-based products on the market, there are now more opportunities for new jobs to be created in the economy. The subsequent earnings from hemp result in a multiplier effect in the economy.
The environment loves hemp!
Hemp has a positive environmental impact as it requires very few pesticides and herbicides throughout its cultivation period. The huge unprecedented growth of the hemp industry is due to the increasing demand for environmentally and economically sustainable products among consumers. Consumers are more conscious of the ecological consequences of a consumptions-driven society. They are more inclined to purchase products that are recyclable and biodegradable. By having the ability to influence so many areas of the consumer economy, the hemp industry is uniquely positioned to potentially increase the GDP of grower countries.
Using hempcrete as a construction material represents another effective method of sequestering carbon. Hemp fiber is a suitable substitute for wood and hempcrete results in durable, long-lasting structures.
Hemp clothing surpasses cotton by being stronger, lightweight, absorbent, UV and mold-resistant, and even flame-retardant. It comes as no surprise when large, household fashion brands such as Armani, Polo Ralph Lauren, and Oscar de la Renta feature hemp in their exquisite designer products.
The global market for hemp consists of more than 25,000 products in nine submarkets: agriculture, textiles, recycling, automotive, furniture, food and beverages, paper, construction materials, and personal care. Hemp can be grown for fiber, seed, or as a dual-purpose crop. The stalk and seed are the harvested products. Hemp, though commonly mistaken for marijuana, has slowly grown to become an increasingly popular agricultural goldmine. Hemp farming promises a tumultuous future and its global market is evidence of its impending bloom.
The world of hemp is a mix of positives and challenges, although there is no question about its enormous economic and environmental potential. There is much information about the cultivation of hemp and the steps being taken by many countries to rejuvenate the growing of the crop. Research and innovation form the backbone of hemp market growth. Consumers can help grow the hemp marketplace by buying hemp products and indirectly influencing positive economic and environmental growth.