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There was a time not so long ago when any form of cannabis, including hemp, was against the law in the United States. Moreover, many people thought it was wrong, something that only the wrong sort of people had anything to do with. But cannabis has come a long way since then. Today an entirely legal hemp industry is bringing to the market hundreds of beneficial new products.
Real Changes Began in 2018
In June of 2018, the FDA approved a cannabis product for two specific types of seizures. That same year, the Hemp Farming Act of 2018 made hemp a legal crop in the United States.
The plant’s new legal status caused the market to go wild with hemp and cannabis products. These included CBD oil, hemp plastics, hemp paper products, hemp fibers in bedding and denim, and more.
Hemp Hit the Market with a Boom
People already knew about and were using some hemp products, and hemp industry companies were ready to market their products nationwide almost instantly. For example, companies such as Vitaleaf Naturals now freely offer the best in organic hemp products.
Hemp Farming Is Still Heavily Regulated
However, the hemp industry is heavily regulated, and farming the crops is no exception. In fact, farmers must apply for a permit to grow hemp.
A few states are looking at adopting legislation to open up the farming of hemp so that it is legal statewide without permits. This has yet to pass in any state. However, experts predict that such legislation will eventually pass somewhere. And when it does, it will soon pass in other states as well.
New Products Appear Daily on the Hemp Industry Market
Development laboratories are scrambling to keep pace with the expanding markets. Working with private industry funding, these labs explore new products and develop new uses for hemp.
Everyone wants to be first on the market with new items, because everyone wants to cash in and make a name for themselves. But the markets in the hemp industry shift rapidly, and new trends arise daily. The successful businesses in the hemp industry are those that kick off the trends.
The Hemp Industry Nips at the Heels of the Plastics Industry
In fact, hemp finds uses in many products so quickly it’s difficult to keep track of them all. Everywhere you turn, there is a new product, a new scent, a new flavor, a new technology.
For instance, one young researcher has found a way to create biodegradable plastics from hemp. This could be a game-changer, not only in the hemp industry but also in our world.
With widespread use of biodegradable plastics, our oceans might no longer fill with plastic waste. Entire species could be saved from extinction and we could begin to renew our beautiful planet.
The Hemp Industry Ushers in Green Alternatives
As new products continue to emerge, many people are turning to the hemp industry for naturally healthier choices in dietary supplements. For instance, some people who would never in a million years try marijuana are starting to use CBD oil for arthritis pain.
As another example, Levi Strauss & Co. recently announced that they have found a way to make hemp fibers feel as soft as cotton, news that surely has the cotton industry trembling. Additionally, consumers are beginning to view hemp as a green alternative to the paper industry.
To its credit, a hemp crop requires only about 12 weeks’ growing time. Plus, it needs only a third of the water that cotton requires, while producing three times more fiber per acre than cotton does. In short, the hemp industry offers new ways to create the earth-friendly products that people demand.
Now Is the Time to Invest in the Hemp Industry
If you are an investor, now is the time to invest in hemp-related industries and crops. That’s because one of the biggest developments in the hemp industry is the discovery that hemp can be used to manufacture both bio-diesel and ethanol as fuel for trucks and cars.
American farmers are excited. Some speculate that hemp might even replace corn as the nation’s number-one crop. Investors are speculating that this is the big push the hemp industry has been waiting for. It could send sales of hemp products sky high over the next five years.
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Hemp Assumes Its Rightful Place
Cannabis has been around for thousands of years. In fact, it may be one of the oldest plants on the planet. At any rate, people have used it for centuries. Today, thanks to new legislation, it assumes its rightful place as one humanity’s most useful plant species.
So whether you use the oils, smoke the hemp flower, or rely on CBD products as pain relievers, know that you are riding the wave of the future. Or perhaps you’re excited about the ideas of hemp biodegradable plastics or the promising new fuels that farmers are beginning to grow in their fields. Alternatively, you could be an investor or an aspiring entrepreneur who has just found a bright idea for a lucrative new venture.
Wherever you fall on the spectrum, you are why the hemp industry is booming and will continue to boom well into the future.
