Industrial hemp is a variety of the Cannabis sativa L plant that has tens of thousands of uses and has been cultivated by humans for over 10 thousand years. Although a close relative to marijuana (Cannabis sativa or Cannabis indica,) hemp contains nominal levels of the psychoactive compound THC and is known for its extremely strong tensile strength.

Federally, growing hemp on an industrial level is still illegal while lawmakers try to iron out the future of the industry. But the groundwork is already being laid to make hemp the United States’ next cash crop, and the potential for profit is immense!

The Rise Of Hemp

Hemp was prized over several millennia for its extreme durability and waterproof properties. The United States’ history is littered with hundreds of historical figures who cultivated hemp including our first president and many of the founding fathers. Unfortunately, it was made illegal for more than 60 years because it shares a genetic blueprint with marijuana.

Today, the political, economic and environmental climate may be creating the perfect conditions for a modern hemp renaissance. Many industries are already utilizing industrial hemp, and it is one of the fastest growing resources in the U.S. Businesses love hemp’s low cost and versatility, while environmentally conscious consumers prefer its nominal carbon footprint. A resurgence of hemp cultivation and use in the United States could add hundreds of thousands of agricultural and manufacturing jobs to the economy.

Is Hemp Profitable?

Absolutely! With over 25,000 uses and counting, there is a huge demand for hemp worldwide. Globally, hemp is a $1 trillion industry with only a few countries providing the supply. In 2017, hemp products in the U.S. accounted for about $688 million in annual domestic sales. Due to Cannabis sativa L’s status as a schedule 1 controlled substance, almost every fiber of that hemp had to be purchased overseas. With tobacco use on the decline, industrial hemp could replace it as America’s most profitable crop.

The low overhead involved in cultivating industrial hemp makes it even more appealing. Hemp can grow in every moderate climate and soil type with minimum modifications. The plant is naturally resistant to pests, saving money on critter control. Their large root systems leave quite a bit of biomass behind, improving the quality of soil from year to year without soil treatments and reducing costs as time goes on. Hemp can be tightly spaced maximizing profit-per-acre and reducing workforce spent pulling weeds. Finally, hemp is much more sustainable and 60 times faster to market than lumber.

The Ever-Growing Industrial Hemp Industry

Hemp is in demand from such multimillion-dollar industries as nutraceuticals, skin care, textiles, biofuels, food, plastics, construction materials and industrial products. As research into hemp progresses, businesses are finding more applications for it every day.

The rapidly advancing tech field has recently discovered one such application, and it could be a game changer. Bast fiber (normally a waste product of hemp processing) can be turned into carbon nanosheets that are stronger and more conductive than graphene (the industry standard.) Graphene is currently manufactured for around $2000 a gram. Bast fiber costs less than $500 per ton! Patents are currently pending for supercapacitors, integrated circuits batteries, touch screens and water filters made from these hemp-based carbon sheets. Remember, this is made from metric tons of byproduct that processers would have been forced to pay someone to haul to a landfill. That’s pure profit and a lot of it!

If you want to stand out in an emerging billion-dollar industry, you need to separate yourself from the crowd. Marijuana Marketing Xperts has the experience necessary to power your hemp company to new heights of success. Our modern day digital marketing strategies will set the standards for your company in the hemp and marijuana industry. Contact us today, and together we will make your future a whole lot greener.