144
Uses and Benefits
Three main categories have shown to be the most opportunity in the current hemp market: Medicine, Food, and Fibre.
1. Medicine
Hemp provides medicine naturally as it contains the compound cannabinoid, specifically canna-bidiol (CBD). It can be higher in some hemp varieties than it is in marijuana strains. And the value of this is massive.
The Hemp Business Journal estimated that the CBD market will grow to a $2.1 billion market in consumer sales by 2020 with $450 million of those sales coming from hemp-based sources. That's a 700% increase from 2016. In 2015, the market for consumer sales of hemp-derived CBD products was $90 million, plus another $112 million in marijuana-derived CBD products which were sold through dispensaries – bringing a total CBD market to $202 million last year.
2. Food
Canada is currently a world leader for the supply of hemp grain products to the global food industry. In a press release from the Canadian Hemp Trade Alliance on September
12, 2017, it notes that exports in 2016 surpassed $145 million from an industry that employs over 1,200 Canadians. Most oils produced from the plant is utilized in the burgeoning food market.
These foods do not contain any CBD. However, they are rich in “good fats” (plant-based Omega-3) which not only help with overall health but aid in improving skin conditions making topical creams and other beauty products a sub-category of potential growth in this category. Hemp is a great source of protein, contain gamma-linolenic acid, which supports the normal function and growth of cells, nerves, muscles, and organs throughout your body, and contains soluble and insoluble fibre for digestive health, just to name a few benefits.