Robust growth predictions worldwide
The hemp industry is expanding all over the world, from Europe and North America to India and China, with triple digit growth in some markets over the coming years. The demand for hemp in Europe is currently double the supply on the continent – including the demand for seeds – resulting in an inefficient value chain requiring imports from Canada and China, and reflecting enticing investment opportunities in an industry that has already developed a basic regional infrastructure.
As HempToday has reported on Europe: “With legacy hemp firms busier and busier at the trading level, more and more creative, smaller companies are developing hemp products, and doing the marketing. Still, imports of hemp seed to the EU from third-party countries remain higher than domestic production, indicating clear room for growth among EU hemp food players.” EU countries planted hemp on about 33,000 hectares in 2017, and the number of fields dedicated to growing hemp has grown steadily over the last five years.
In North America, where a hemp consumer market is already primed, hemp food and health products make up about 35% of all hemp-based goods sold. Meanwhile more and more states are getting ready for the full opening of the USA market for hemp agriculture, processing and consumer sales – indicating a need for massive investment.
In Asia, where it all started, China is working to restructure its world leading hemp industry while India appears on the cusp of returning to hemp as a major crop within the next 12 months. In both countries, significant investment is needed for restructuring (China) and re-establishing (India) traditional hemp markets.