Industrial hemp hails from the species of plant called Cannabis sativa. It has been utilized across the globe to produce a wide variety of consumer and industrial products, which fosters growth of the global industrial hemp market. Hemp refers to a source of oilseed and fiber grown in more than 30 countries. In the US, production of hemp us regulated under the laws of drug enforcement. One needs to obtain permit from the Drug Enforcement Agency for the production of industrial hemp in the US.
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Industrial hemp comes with excellent mechanical properties and is produced through an eco-friendly procedure. Industrial hemp finds abundant use in the manufacturing of insulation materials, bio-composites in automotive applications, and specialty pulp and paper. Utilization of industrial hemp in the making of various products is likely to foster growth of the global industrial hemp market in near future.
High Demand from the Textile Industry to Sustain Growth of the Market
The global industrial hemp market gathers momentum from its increasing demand from the textile industry, which is also the largest user of hemp. Hemp fibers are utilized in the making of textile yarn and are regarded as substitute for synthetic fibers and cotton. These products are durable and strong and they come with important economical and ecological benefits, which is likely to trigger growth of the global industrial hemp market in near future. In addition, hemp fiber is excellent when it comes to absorption of moisture and is highly breathable. Hemp is high in demand from the various textile manufacturers, thanks to the qualities it possesses.
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Augmented use of industrial hemp in various industries such as food and beverage, personal care, and bio-composite industries are further likely to foster development of the global industrial hemp market over the tenure of assessment. High content of essential fatty acids in hemp oil is bolstering its demand in the food and beverage industry.