2018 was a phenomenal year for hemp and CBD enthusiasts. The passing of the 2018 Farm Bill opened the floodgates for hemp cultivation, processing, and distribution. The $22 billion cannabis industry seems to be the gold rush of our times with everyone scouring to get a piece of the cake. The bill has given a leeway to grow the cannabis sativa leafy plant, process it into different products, and sell them to the general public.
With the massive growth of the hemp industry comes a very attractive by-product: job creation. No doubt, hemp wholesale companies have employed tens of thousands of people all across the United States. These workers are spread throughout all the hemp sectors such as agriculture, manufacturing, and processing.
Therefore, you’ll find government regulators, compliance officers, IT experts, lawyers, accountants, transporters, financial and insurance specialists, researchers, transporters, CFOs, marketers, transporters, retail employees, and CEOs.
Why The Hemp Buzz?
Marijuana has long enjoyed plenty of spotlight as nature’s charm. However, its close cousin hemp is currently commanding more attention than anticipated. Everyone is warming up to hemp crop which resembles marijuana in more ways than one. Although both varieties are derived from the cannabis sativa plant, hemp doesn’t contain THC—the component that makes people high.
Hemp research has taken a backseat for the longest time now, thanks to the strict laws around cannabis. Thankfully, the US government has agreed that the plant indeed contains <0.3% THC which means you cannot get high on it. Hemp devotees claim that the crop can heal anything from anxiety to cancer.
This, according to them, makes it a safe and effective treatment solution compared to modern medications. Apart from being a super drug, hemp crops are also used to make paper, biofuel, and cloth, all of which are economically and environmentally attractive. Other people use hemp to make hempcrete, a natural and strong building material. Hemp seeds are a great source of proteins as well, popular with vegans.
The Cannabis Industry
The 2018 Farm Bill only made hemp legal but it is up to individual states to make their own commerce and agriculture programs. As of February 2019, 41 states had already allowed hemp cultivation for research, pilot, and commercial purposes. By the end of 2018, the total land used to grow hemp in the US stood at 78,176. This figure was 25,713 in 2017.
Although there is a myriad of everyday applications for hemp, cannabidiol, or CBD, remains the greatest focus for many hemp growers. This is what brings in the money for hemp stakeholders. CBD is typically derived for the flowers or seed of the hemp crop. The stalks, on the other hand, are used to manufacture fiber for making building materials and textiles. CBD has become a hip ingredient for a number of pain relief, anxiety, and sleep aid drugs.
After extraction, the CBD is made into gummies, ingestible oils, lotions, tinctures, dietary supplements, candy, creams, and more for use by the consumer. Some people like to take the CBD in its raw state in which case they would vape or smoke the leaves before they go into processing. In 2018 alone, CBD products generated impressive revenue of $390 million in sales. This figure is projected to reach $1.3 billion by the year 2022.
Obviously, something of this magnitude is bound to need human labor. Wholesale hemp companies are currently on the lookout for talent and experience in the field. Leading job websites have already filled their sites with hemp-related job vacancies. Hemp start-ups are keen on employing CFOS and perhaps account managers whereas established hemp factories want factory men, mechanists, and a host of other workers. In 2019, the agricultural department-approved over 42,000 acres of land for use in hemp cultivation. This followed the application by 1,035 and 130 farmers and processors respectively.
Hemp wholesale companies such as http//:industrialhempfarms.com are contributing to the world economy in various ways. For one, they have become the go-to source of CBD products which people swear by. The non-CBD benefits such as cotton, fiber, and building materials are also quite impressive. Alongside the aforementioned benefits, hemp has seen the creation of many jobs across the US and beyond. It is giving many people a life that they could only dream of.