https://www.vogue.co.uk/article/healthiest-milk
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https://via.tt.se/pressmeddelande/3434552/panda-biotech-announces-commercial-operations-have-begun-at-its-flagship-panda-hemp-gin?publisherId=259167
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https://www.cannabisbusinesstimes.com/news/how-hemp-derived-cannabinoid-sales-compare-to-craft-beer-sales/
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Last week in hemp offered a plethora of positive developments within the hemp industry, highlighting its expanding potential across diverse sectors.
Market Growth and Research Investment
A recent report by the United States Department of Agriculture’s (USDA) Chief Scientist emphasizes the importance of the U.S. hemp industry learning from advancements made by international counterparts. The report acknowledges research gaps stemming from past prohibitionary policies and underscores the potential benefits of international collaboration to accelerate development within the domestic hemp sector.
Analysts predict a significant rise in the global industrial hemp market, with projections indicating a surge from $4.9 billion in 2019 to a staggering $18.6 billion by 2027. This anticipated growth signifies the accelerating adoption of hemp across various industries.
Furthermore, investment in hemp research continues to gain momentum. The USDA announced a $10 million grant awarded to Oregon State University to facilitate collaboration with tribal nations on initiatives related to hemp economic development. This collaboration aligns with another recent development – a $1.5 million grant awarded to researchers at Rensselaer Polytechnic Institute (RPI) for the development of hemp-based insulated siding. These funding allocations demonstrate a growing commitment to research and innovation within the hemp industry.
Collaboration and Standardization
The Federation of International Hemp Organizations (FIHO) recently joined forces with ASTM International, a prominent standards development organization. This collaborative effort aims to establish a comprehensive set of global standards for the entire hemp value chain. The implementation of such standards will ensure product quality and facilitate smoother international trade within the hemp sector.
Product Innovation
Hemp’s versatility continues to impress. Snohetta, a renowned architecture firm, recently unveiled a lamp crafted from a compostable hemp bio-composite. This innovative product exemplifies the potential of hemp as a sustainable material within the design industry.
Australia is witnessing an expansion of its hemp processing capabilities with the opening of a new facility on the Mid-North Coast. This development will likely lead to increased domestic hemp production and a wider range of hemp-based products available to Australian consumers.
Food and Nutritional Applications
Research suggests that hemp seeds offer a multitude of health benefits, including improved cardiovascular health and digestive function. This growing body of evidence is driving interest in hemp as a functional food ingredient for vegetarians and health-conscious consumers.
Looking Forward
The hemp industry is experiencing a period of significant growth, fueled by increased investment, international collaboration, and the emergence of innovative hemp-based products. These developments bode well for the future of hemp as a sustainable and versatile resource.
https://www.netmeds.com/health-library/post/5-superb-benefits-of-hemp-seeds
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https://www.foodnavigator.com/Article/2024/03/14/hemp-the-next-functional-food-in-vegetarian-nutrition
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https://www.whatech.com/og/markets-research/industrial/788235-industrial-hemp-market-surges-from-4-9-billion-in-2019-to-projected-18-6-billion-by-2027
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Last week’s hemp industry news highlights several key trends: a growing emphasis on quality control, the exploration of sustainable applications, and ongoing legal considerations for the industry’s continued development.
Vantage Hemp Co., a United States-based producer, recently achieved Good Manufacturing Practice (GMP) certification from Australia’s Therapeutic Goods Administration (TGA). This prestigious certification signifies the company’s adherence to rigorous manufacturing standards for medicinal CBD products, potentially opening doors to new markets with stricter regulations.
The regulatory environment surrounding hemp continues to evolve. Kansas has proposed legislation that could significantly reduce hemp cultivation fees, potentially increasing farmer accessibility. However, legal challenges persist, as evidenced by New York hemp companies suing the state to overturn newly implemented regulations they deem overly restrictive.
Sustainability remains a driving force within the hemp industry. An innovative and eco-friendly dream home constructed from hemp in the Pyrenees foothills offers a compelling model for sustainable living. Additionally, the Hunter Valley region in Australia is exploring the potential for industrial hemp growth, further demonstrating the plant’s diverse agricultural applications.
The potential health benefits of hemp are attracting increasing attention within the medical community. Research suggests that hemp’s calming and moisturizing properties may be beneficial for skin health, prompting exploration by dermatologists. Furthermore, hemp seed milk is gaining traction as a plant-based alternative in the dairy industry, with studies investigating its nutritional value and market potential. Even the byproducts of hemp processing are finding new uses, with research suggesting that spent hemp biomass could be a viable feed supplement for dairy cows.
Despite some regional legal hurdles, the hemp industry continues to experience global expansion. California remains the dominant force in US hemp flower production, accounting for over half of the national total. However, in regions like Guyana, a patient approach is advocated, with the belief that a robust regulatory framework will ultimately benefit all stakeholders.
With deadlines for 2024 hemp grower applications approaching in some areas, the industry is poised for another season of growth. The focus on quality control, innovative applications for hemp, and navigating the legal landscape will be crucial for the industry to fully realize the potential of this versatile and sustainable resource.
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Hemp Gazette
Gillian Jalimnson
