Hemp Growth in Food & Health
June 25, 2018
Presented by Debbie Norwitz
he hemp food, health and beauty sectors are expanding all over the world.
The demand for hemp in Europe is currently double the supply on the continent — including the demand for the seeds critical to the food, health & beauty sectors — 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.net has reported on Europe: “With legacy hemp firms busier and busier at the trading level, more and more creative, smaller companies are developing niche 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 players.”
In the USA alone, where a hemp consumer market is already primed, combined sales in the sectors accounted for nearly half of the $688 million in hemp product sales in 2016. Some predictions indicate triple digit growth in the global hemp food markets in the years going forward.
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.
Hemp: Super Food
Hemp is one of the oldest, most hearty and versatile plants on earth. It has been an important source of fibres, food and medicine throughout history. The industrial cannabis strain, known as hemp, produces fibre, oil and seeds.
The main market sections for hemp foods are the so called “super foods,” “nutritious foods” and “bio foods.” Double digit growth in the sector is expected in the coming years as consumers turn to more healthy, “eco” oriented food products.
Growing industrial hemp and the development of regionalized hemp processing and manufacturing facilities hold great potential to create thriving local economies, and to build industries that are more in harmony with nature by reducing our carbon footprint.
Health & Beauty Boom
The hemp health & beauty sector is a sweet spot for small, entrepreneurial firms as the cost of entry need not be great, and the process of development can be simple. Innovative, unique, artisan-crafted products are finding markets both locally and internationally.
The personal care product sector is approaching $200 million in the USA alone, with both finished products and raw goods being imported mainly from Canada. With broader consumer awareness of hemp-based cosmetics and skin applications, sales are on the rise and hemp-based personal care products are expected to grow in volume in many parts of the world. Wholesalers and private label companies are engaging in global trade as such products show up more and more in the mainstream around the world.
May 24-25, 2019 is the date for the Hemp Food, Health & Beauty 2020 Business Summit being hosted by HempToday. The Summit is limited to 25 people, so its important to register as soon as possible. (Cost $1,235).