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Hemp Market Progress Forecasts: $ 26.6 billion by 2025

hemp-market-progress-forecasts-26-6-billion-by-2025

Hemp is ubiquitous and, according to various market studies, the value of the entire industry is estimated to be nearly $ 27 billion by 2025.

Hemp can do almost nothing. It can be used topically as a food supplement, medication, it can be processed into plastic, concrete and batteries. It's hardy, grows easily, and is incredibly versatile, which is why everyone tries to make money.

Define hemp

Hemp is a phenotype of cannabis
Sativa plant species. It differs from cannabis / marijuana by hemp
is legally classified as having less than 0.3 percent THC (tetrahydrocannabinol),
This is the most dominant compound in regular cannabis and one
responsible for the psychoactive effects.

Generally, most has hemp
somewhere between 0.2 and 1 percent THC content, which deviates slightly from it
the legal limit. Cannabis strains that produce flowers
higher CBD levels
(Cannabidiol) will usually also have higher THC levels,
closer to the 1 percent mark.

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Hemp has not only enormous therapeutic value, but also many industrial properties
and environmental uses, often with some overlap. For example hemp
Can be processed into an environmentally friendly plastic
Alternative. This represents both an industrial and an ecological use.

Hemp can also be shaped into a concrete-like substance that some people already use to build their environmentally friendly houses and other structures. It can be used as a battery / energy storage solution that is considered to be more powerful than graphene, it can eliminate dependency on certain fossil fuels and it can be used to make various textiles such as ropes and clothing.

Another interesting and innovative use of hemp is the removal of environmental pollution from the earth in a process known as phytoremediation. In other words, hemp can be used to free soil, air, and water from pollution, heavy metals, radiation, agricultural products, and more.

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Forecasts on the hemp market

According to the new market research report by Markets and Markets, an average annual growth rate of around 34% is expected for the hemp industry. The report entitled "Industrial Hemp Market by Type (Hemp Seeds, Hemp Seed Oil, Hemp Fiber and CBD Hemp Oil), Application (Food, Beverage, Personal Care Products, Textiles and Pharmaceuticals), Source (Organic and Conventional), and Region – Global Outlook to 2025" predicts that the hemp market will reach USD 26.6 billion by 2025.

There are few key factors driving the dramatic growth of this industry. According to the report, "The legalization of the cultivation of industrial hemp, the functional properties of hemp seeds and hemp seed oil, as well as their increasing use in various food applications and the increase in chronic diseases" are one of the driving forces.

Regulators rely on smokable hemp flower – what will the future bring?

And speaking of regulations, Rep.
Collin Peterson (D.-Minn.) Recently submitted a bill on the subject
would change the federal food, drug, and cosmetics law and require that be CBD
included in the list of legal food supplements and therefore excluded from
prohibited food and products.

This
The bill would effectively bypass any FDA disruption and legalize CBD at the federal level
By default. This is obviously great for the supplement and food sectors, and it is
Cultivation should also benefit from this. When CBD products become legal on the Internet
board and demand are increasing, there was naturally a need for more hemp
Plants.

What about smokable hemp flowers?

One of the fastest growing sectors of
The hemp industry consists of smokable hemp flowers. That said, we still don't know
exactly what you can expect in the next few years. There is certainly a growing demand
in the United States and hemp flowers have long been popular in Europe, where cannabis users use cannabis
tend to prefer low THC buds.

According to an investigation by the Brightfield Group, a cannabis market research company based in Chicago, the market for smokable hemp flowers was somewhere in the $ 71 million ballpark in late 2019, a total of $ 11.7 million. They did not provide any information about the projected numbers.

Brightfield analyst Bethany Gomez said she discovered this growing trend by calling retailers, including smokers, spas, and health food stores, to find out what they were selling.

Medical benefits of hemp

This is a fairly open topic and depends on the specific cannabinoid we are looking at. First, let's look at the most common products found in hemp: CBD (cannabidiol), CBN (cannabinol) and CBG (cannabigerol).

CBD- If you search online, you are entitled to
CBD helps with almost all diseases under the sun. Although many
These ideas can be traced back to misinformation and placebo effects
There are some well-researched diseases that CBD can treat. It is most commonly used
for anxiety and depression, chronic pain, inflammation and epilepsy.

When it comes to epilepsy, there is even an FDA-approved drug called Epidiolex that treats two rare forms of epilepsy: Dravet syndrome and Lennox-Gestaut syndrome. This drug has recently been approved for use in Europe and is currently being clinically tested in Japan.

CBN-CBN is a phytocannabinoid that is spread with increasing age of the cannabis plant. It originally comes from THC. When your flowers are exposed to the elements (oxygen and heat), THC molecules begin to convert to CBN. This is a lesser known compound, but some studies show that it can be used to treat glaucoma, bacterial infections, and neurodegenerative diseases.

CBG-CBG is quickly gaining popularity in the hemp industry because, due to the development of cannabinoids, strains with a high CBG content naturally have a low THC content, which ensures compliance with federal regulations. Preliminary studies indicate that CBG has numerous health benefits, including treating depression and cancer.

Last Thoughts

From today's perspective, hemp is here to stay, and this tremendous market growth doesn't seem to be slowing down as quickly. There are many ways to make good money in this industry, from starting your own business to investing on the outskirts. It's not just a trend or a fad, it's an incredible plant that we can use to make our lives easier, and it's also a product that will likely never be worthless and in demand.

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