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CBD Archives - Page 2 of 8 - Hemp Market Report

StaffStaffMarch 4, 2020
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4min00

The U.S. Department of Agriculture (USDA) published an Interim Final Rule (IFR) regarding the testing of hemp at Drug Enforcement Administration (DEA) registered labs. The department wrote that it is “Delaying enforcement of the requirement to use laboratories registered with the Drug Enforcement Administration (DEA) for testing.  Under this guidance, the testing can be conducted by labs that are not yet DEA registered until the final rule is published, or Oct. 31, 2021, whichever comes first. This change will allow additional time to increase DEA registered analytical lab capacity.”

Hemp was legalized under the 2018 Farm Bill, but because the product had been regulated under the Controlled Substances Act there is insufficient capacity for testing and disposing of non-compliant plants.  Hemp with a tetrahydrocannabinol (THC) level of 0.3% or less on a dry weight basis is no longer a controlled substance in the United States. “We also know that weather and other factors may affect the THC level in hemp and that labs may receive material that is over the 0.3% THC level and is, by definition, a controlled substance,” said the announcement.

“We are delaying enforcement of these requirements based on comment received in response to the IFR and in discussions with states and tribes as they pursue USDA-approval of their plans.  Through these conversations, we have learned that these provisions will serve as a significant hindrance to the growth of a domestic hemp market at this nascent stage.  For instance, we now better understand how the limited number of DEA-registered labs will hinder testing and better understand the associated costs with disposing of product that contains over 0.3% THC could make entering the hemp market too risky.”

Cannabis with a THC level of over 0.3% on a dry weight basis is a controlled substance, and the USDA said that hemp must be disposed of on-site according to the disposal methods approved by USDA.

Potential market entrants and related industries are relying on USDA to provide guidance in their preparations for the 2020 growing season, and the Administrator found that there was good cause to issue the IFR without prior opportunity for notice and comment and to make it immediately effective.

“All laboratories engaged in the testing of hemp through this interim period will be subject to the same compliance requirements of the IFR. Specifically, labs must adhere to the standards of performance as outlined within the IFR, including the requirement to test for total THC employing post-decarboxylation or other similarly reliable methods. All labs will have to make arrangements to be compliant with registration requirements before this period of delayed enforcement expires. DEA will evaluate all applications using the criteria required by the Controlled Substances Act.” Additionally, USDA will conduct random audits of licensees to verify hemp is being produced in accordance with the provisions of the rule.


Noemi GonzalesNoemi GonzalesMarch 3, 2020
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3min01

 While the growth of both medical and legal recreational marijuana use is exciting to see there has been one particular problem that many people have begun to notice with the industry. The marijuana industry has a waste problem.

What is meant by that remark is that many modern cannabis products are packaged in copious amounts of non-recyclable plastic. Whether in bags, containers, vials, and more we are seeing way too much pollution and trash generated by an industry that should be far more eco-friendly.

That’s where Sana Packaging comes into play. Sana Packaging is a US-based company that focuses on creating eco-friendly packaging Solutions for the cannabis industry.

-The Products-

The Sana packaging products are made from 100% reclaimed ocean plastic, plant-based hemp plastics, and other renewable materials. The kinds of products available are as follows:

  • Tubes
  • Stash jars with screw-top lids
  • Hemp container boxes

There is a variety of colors, shapes, and sizes of each of the above-mentioned products. The packaging products themselves look sharp and appear durable so that you can take comfort knowing that your goods are protected and that you are not contributing to the plastic waste problem that plagues the Cannabis industry.

-What Exactly is in These Products?-

The Pressed hemp paperboard product is comprised of 75% post-consumer recycled paper and 25%. The reclaimed ocean plastic products are made of 100% HDPE plastic and very simple to recycle. The hemp plastic products are composed of a chemical-free fiber-reinforced biocomposite plant-based hemp and PLA.

All of these products are 100% biodegradable and do not contribute to the plastic waste issue that currently plagues the marijuana industry.

 -The Origin of Sana Packaging-

Founders James Eichner and Ron Basak-Smith connected with each other during their time at the University of Colorado Boulder in 2015. The two founders connected with each other through a variety of interests, hobbies, and a very similar world view.

They did not form Sana Packaging until 2016 after winning a pitch competition. Ron and James took Sana Packaging full-time in May of 2017 and went on to become the first 100% plant-based hemp plastic packaging solution across the marijuana industry. Sana Packaging is currently based in Los Angeles, California, and Denver, Colorado.

The growth and social acceptance of cannabis-related businesses is indeed amazing but it is also important to protect the Earth and do business ethically as this industry grows.

 


Julie AitchesonJulie AitchesonMarch 2, 2020
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5min00

Hemp industry darling, Charlotte’s Web (OTC:CWBHF), which bills its product line as “the world’s most trusted hemp extract” and was ranked as the top brand by market share for CBD by Nasdaq in 2019, is one of the most recent examples of a large-scale CBD producer to be targeted by a class-action lawsuit.  Litigation ranging in focus from CBD content to marketing (e.g. treatment claims) and stock pricing are on the rise as the Federal Drug Administration issues increasingly tighter restrictions on what is permissible in the world of hemp products. 

In the case of Charlotte’s Web, a class-action lawsuit was filed in the state of California alleging that the company has been marketing its products as “dietary supplements”. This is a designation strictly prohibited by the FDA due to the fact that CBD is an ingredient in an FDA-investigated and approved drug (the anti-epileptic, Epidiolex). The FDA claims that this occurred before any CBD products were marketed as dietary supplements which, under the dietary supplement act, are regulated as food. This timeline distinction is crucial, as companies may have been able to avoid this scrutiny if the dietary supplement designation in their marketing had occurred before CBD came under investigation as a drug by the FDA. Charlotte’s Web and Infinite Products, another big name in CBD also based in Colorado, are both standing by their products and marketing and are determined to fight the litigious wave currently on the rise.

Big companies make big targets, but there are still thousands of products and retail outlets across the country slipping through regulatory loopholes. Which is not to say that they are necessarily angling for this state of affairs to continue. The longer FDA guidelines remain inconclusive and enforcement inconsistent, the more vulnerable companies (particularly smaller operations) become the kind of litigation that could drive them out of business permanently. A recent article on cnbc.com went so far as to say that producers are begging for regulations in order to better protect themselves from these risks.

Though the first lawsuits against CBD product companies date back to the earliest days of the CBD boom, these mostly pertained to an inconsistency between the advertised versus actual potency of products or baldly inflated claims about the products curative capacity, particularly in regards to chronic or life-threatening illnesses. With more definitive censure from the FDA of CBD brands that market themselves as dietary supplements, the field is wide open for litigators to go after any product that has CBD as an ingredient, even if the company is not making unsubstantiated claims or falsifying CBD content. 

This being the case, the hemp industry can expect to see more lawsuits crop up in the weeks and months to come. In the meantime, the FDA continues to play a game of catch up to try to get a handle on hemp and how to ensure consumer safety before even more serious consequences of a still-arbitrarily regulated industry come calling.


StaffStaffFebruary 28, 2020
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4min00

A group of hemp industry policymakers released new policy recommendations and an updated model plan for state hemp programs, providing a guide to developing federally compliant state regulatory regimes. The recommendations can be viewed and downloaded at http://bit.ly/UpdatedHempPlan-Pt1.

“Our updated policy guide and model plan outline the best practices and legal requirements states can utilize to create hemp programs that are operable, successful, and federally compliant,” said Shawn Hauser, the lead author of the document and chair of the hemp and cannabinoids practice group at Vicente Sederberg. “We plan to continue updating these documents to reflect the evolving legal and regulatory landscape governing the burgeoning U.S. hemp industry.”

Part one of the update focuses on policy considerations related to hemp production. It is intended to promote compliance with the 2018 farm bill and the minimum requirements for state regulatory plans detailed by the U.S. Department of Agriculture in an interim final rule issued on October 31, 2019. Part two of the update will be made available in the coming weeks and addresses areas not governed by the USDA, such as processing and transportation.

The 2018 farm bill was signed into law in December 2018, lifting the decades-long prohibition on hemp production in the U.S. and allowing for federally sanctioned hemp production governed by the USDA. It gave states, U.S. territories, and American Indian tribes the option to act as primary regulatory authority, requiring those that choose to do so to first submit their regulatory plans to the USDA. In order to receive approval, plans must meet minimum requirements set forth in the farm bill, including regulations for registration, testing and inspection. States that choose not to regulate or prohibit hemp production cede jurisdiction to federal authority. Several states are in the process of creating plans, and  plans from eight states and 10 tribes have already been approved, according to the USDA website.

“Congress took a monumental step forward by ending our federal government’s decades-long prohibition on hemp production,” Hauser said. “It is equally important that it be replaced with sensible laws and regulations that protect public health and safety while also allowing this new industry to flourish. This crop has an exceptional amount of potential to boost our economy and improve our environment, but it will only be reached if the rules that govern it are fair and practical.”

The document was authored by attorneys with national cannabis law firm Vicente Sederberg LLP with support from Agricultural Hemp Solutions, the American Herbal Products Association, the U.S. Hemp Roundtable, and Vote Hemp. It is the first part of a two-part update to the “2018 Farm Bill Policy Guide and Model Hemp Production Plan,” which was produced by the same coalition of attorneys and organizations and released last February under the banner of the American Hemp Campaign.


StaffStaffFebruary 27, 2020
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4min00

LeafLink is one of the top cannabis industry wholesale marketplaces, which gives the company access to a great deal of information about cannabis consumers. The company was able to break down the data on CBD sles at the request of Hemp Market Report. The results seemed to be very surprising.

The top-selling product was Mary’s Medicinals patch, which is priced at $10. Consumers use the patch for pain and anxiety. Mary’s Medicinals was in the top three best selling CBD companies for Leaflink in 2019. It was joined by Wana Brands, which had the number two selling CBD product – Strawberry Lemonade Sour Gummies. The third best selling item was CannaPunch’s CBD Therapy Pucks, which sports 20mg of CBD and 2mg of THC per puck. Also, in the top three best selling companies was Terrapin Pennsylvania.

Here’s the rest of the list:

Most purchased products containing CBD (by order volume)

  • 1:1 CBD:THC Patch, 100 mg – Mary’s Medicinals
  • 1:1 CBD/THC Sour Gummies, Strawberry Lemonade – Wana Brands
  • 10:1 CBD/THC CBD Therapy Assorted Pucks, 200 mg  – CannaPunch

Top categories for products containing CBD 

  • Edibles & Ingestibles 
  • Cartridges 
  • Topicals 

Top-selling brands with products containing CBD 

  • Terrapin Pennsylvania 
  • Wana Brands
  • Mary’s Medicinals

Leaflink continues to add products to its arsenal of cannabis shopping. LeafLink’s platform now has 1,400+ brands (900+ in Q1 2019). Their platform now serves 4,200+ retailers (2,700+ in Q1 2019). LeafLink has reached $1.5B+ in annualized orders ($780M in Q1 2019) and LeafLink now has over 90 team members (50+ in Q1 2019).

LeafLink continues to increase its reach into the consumer’s wallets. Here are some of the company’s highlights from 2019:

 

  • LeafLink launched in Illinois and streamlined $1M worth of wholesale cannabis orders for 68 retailers in their first-month live
  • LeafLink Financial, which is their service for simplifying cannabis payment, hit a run rate of $60M in payments facilitated compliantly
  • Closed Series B funding of $35 million
  • Launched LeafLink International, a joint venture with Canopy Rivers bringing wholesale marketplace technology to global cannabis markets

 

 

 


Julie AitchesonJulie AitchesonFebruary 26, 2020
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5min00

Those within the U.S. cannabis industry concerned that President Trump’s trade war with China would present significant difficulties to their sector are finding distraction, if not relief, from an unlikely source– the now-global coronavirus outbreak. As a major supplier of cut-rate hemp fiber and CBD for the world market, China has proven stiff competition for United States’ suppliers both domestically and internationally. The disruption of that supply chain by the coronavirus outbreak means that U.S. producers could finally gain an advantage in domestic and international markets.

This does not mean that there won’t still be a significant downside to slowed or stalled production in China due to the necessity of managing this new, virulent strain of coronavirus identified as COVID-19.  The majority of parts that go into manufacturing vaporizer devices, greenhouse components, LED lighting, and products with Chinese-made steel and aluminum packaging are all sourced in China. Delays in accessing these components could cause serious issues for businesses who rely on their ready availability to meet the demands of consumers in a competitive market. The impact will primarily be felt in the hardware manufacturing sector, as a number of factories supplying vaporizer components are in viral “hot zones” in China, and have been shut down until the virus is brought under control. 

About 90 percent of vaporizing products are manufactured in Shenzen, China, where manufacturers were hit hard by a sharp drop in demand brought on by the vape health scare that began dominating headlines in fall of 2019. This created a glut of vaping hardware, though this glut has been all but exhausted by rising demand due the shutdown of multiple Shenzen factories. How long these facilities will stay offline is unknown, as China remains the epicenter of the disease that the World Health Organization maintains has not yet reached pandemic status.

Some CBD product manufacturers in the U.S. have been quick to pivot their marketing campaigns to promote cannabidiol’s potential as a preventative for coronavirus due to its ability to promote restful sleep (important for immune function) and as a treatment for coronavirus symptoms. While this practice is not yet widespread, it will undoubtedly draw considerable ire and negative attention from the FDA, which has already gotten more serious about cracking down on unsubstantiated health claims in the CBD industry. 

While there may yet be a plausible medicinal use for cannabidiol in the unfolding drama of COVID-19, the industry remains focused on coronavirus’s impact on the market for cannabis and cannabis-derived products. Financial markets across the globe (which as of February 26, 2020 were experiencing a definitive downward turn) have been far from immune from the rising hysteria that a pandemic is inevitable. What this means for the hemp industry, and so many others who trace the origins of their manufacturing pipelines back to China, is a question whose answer may yet be many months down the road.


StaffStaffFebruary 24, 2020
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17min00

The U.S. Hemp Authority has chosen FoodChain ID  as the exclusive certifying body for the [USHA] Certification seal. USHA Certification helps farmers, product manufacturers, marketers, and retailers secure mainstream market share by appealing to consumer and trade concerns about the veracity of product claims and serves to legitimize the evolving Hemp/CBD consumer product category.

“With the passage of the 2018 Farm Bill, hemp’s extracts such as CBD with a THC level of not more than 0.3 percent- (as distinct from marijuana), are no longer illegal controlled substances under federal law and are becoming more prevalent in food, beverage, and health and wellness,” said Mark Dabroski, senior vice president, commercial services.

According to USHA President Marielle Weintraub, “The U.S. Hemp Authority Certification Program is our industry’s initiative to provide high standards, best practices, and self-regulation, giving consumers an easy way to identify hemp-derived products that can be trusted. We are striving for ingredient transparency and truth in labeling.”

“Hemp seed oil and protein markets have been increasing exponentially over the last decade,” noted Dabroski. “With the category’s expected growth at a 46% CAGR to reach $2.8B by 2023[1], the need for self-regulation and transparency are critical.”

In an effort funded by the U.S. Hemp Roundtable and joined by organizations such as the Hemp Industries Association, industry-leading firms, top-tier testing laboratories, agronomists, and quality assessors, USHA developed comprehensive guidance for growers, processors/manufacturers, and brand owners of ingestible and cosmetic hemp products. Participants are licensed to use the Certified Seal of the U.S. Hemp Authority after meeting stringent self-regulatory standards, passing an independent third-party audit, and entering into a Licensing Agreement.

Weintraub noted that the organization’s standards and practices are consistently updated and improved. A public sessionon the effort will be held at the upcoming Natural Products Expo West on March 2nd in Anaheim, CA.

Widely recognized for the development, implementation, and marketing of the highly recognized Non-GMO Project Verification labeling standard, FoodChain ID offers specialized services for the food, beverage, ingredient and food component (i.e. grain) industries, spanning the entire food supply chain and is also a leader in USDA Organic certification.

“As consumers increasingly demand to know what is in the foods and products they buy, our suite of testing and verification services helps meet this demand,” says Dabroski.


Julie AitchesonJulie AitchesonFebruary 20, 2020
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5min00

Amidst concerns on the federal and state levels about violations of FDA regulations regarding CBD products, efforts are being made to allocate more money in the upcoming fiscal year to further define and more stringently enforce CBD laws. President Trump’s proposed budget for fiscal year 2021, should he gain re-election and have the opportunity to present it to Congress, allocates an additional $5 million to the Food and Drug Administration specifically for further regulation and law enforcement pertaining to cannabis and cannabis-derived products. This is the first time that CBD has been mentioned in a federal budget proposal, which suggests that hemp and CBD may be buzzwords cropping up in Presidential debate topics alongside marijuana  leading up to the election.

So where would it leave the future of CBD regulation if Trump is ousted from the White House? Democratic Presidential frontrunners Bernie Sanders and Elizabeth Warren both support legalization of cannabis, with Sanders proposing to legalize within 100 days of his election to office. A historically outspoken proponent of the war on drugs, Joe Biden is sticking to a half-measure platform with a focus on decriminalization, allowing states to regulate hemp for themselves. Michael Bloomberg supports putting legalization in the hands of individual states, though he is personally opposed to legalization. Pete Buttigieg takes the side of veterans with PTSD who often use cannabis and its derivatives to deal with the aftermath of military service, advocating for the decriminalization of all controlled substances. 

As  hemp has yet to be a talking point for presidential candidates, overshadowed as it is by the larger topic of marijuana as a flashpoint for racial justice issues (as criminalization disproportionately affects people of color), what Americans can expect from future budgetary support should a Democrat win office is unclear. What is clear is that the time for comprehensive, consistent regulations and enforcement of cannabis laws on the part of the FDA is long overdue.

 During his January 2020 testimony before the Subcommittee on Health, Committee on Energy and Commerce, and the U.S. House of Representatives, Douglas C. Throckmorton, Deputy Director for Regulatory Programs at the FDA, highlighted the current illegality (per the Food, Drug, & Cosmetic Act)  of interstate commerce of food with CBD additives. He also described in some detail concerns with current CBD marketing tactics that put consumers at risk, such as those products that claim to treat cancer or Alzheimer’s. Throckmorton also identified some particular concerns related to the potential negative health impacts of CBD use, such as liver damage, problematic drug interactions, male reproductive toxicity, and various ill side effects. 

While studies of these impacts are still ongoing and inconclusive, the FDA is clearly intent on taking them, and the future of CBD in the U.S. market, seriously. Whether the President-elect of the United States, whoever he or she may be, manages to pass a budget that supports the FDA in its mission to ensure public safety in regards to CBD is, in many respects, for voters to decide.


Julie AitchesonJulie AitchesonFebruary 19, 2020
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6min00

Even though the FDA has expressed its displeasure at adding CBD to food, that hasn’t stopped hamburger chains from tossing in some cannabidiol to enhance their burgers. The trend was started last year when on April 20th   of 2019 (yep, that’s 4/20), Carl’s Jr. became the first fast-food chain to sell a CBD burger at one of its franchises in Denver, Colorado. The ambitiously named “Rocky Mountain High: Cheeseburger Delight” was composed of two beef patties, pickled jalapenos, pepper jack cheese, fries, and a Santa Fe sauce infused with 5mg of CBD. And the price? $4.20, of course.

The “Rocky Mountain High”, which was only available for one day, was more of a concept test than a menu change, and given that the location sold more than 100 of them within the first hour and ran out entirely by 4 pm, it was one that the CBD burger passed with flying colors. 

That has sparked Colorado-based Illegal Burger to offer what it calls its biggest differentiator, “its exclusive line of CBD products.” The chain is using the idea of CBD burgers as a way to entice new franchisees. On its website, it states, “As an Illegal Burger franchise owner, you will: Be part of the first CBD restaurant franchise in the U.S.” The company backs its decision by saying, “Cannabinoid, or CBD, is attributed to many health benefits. Recently, the FDA approved of its use to treat two forms of childhood epilepsy, and consumers report it positively impacting anxiety, sleep disorders, and even chronic pain.”

The CBD burger was good for business and, according to reporting by Mike Adams at Forbes.com, even healthier for consumers than a dose of CBD all by itself. Adams cites a study that dosed two separate groups of participants with CBD. One group was placed under fasting conditions (no breakfast), while the other group was fed a high-fat meal. Those who partook of the high-fat meal before consuming a dose of CBD appeared to have a higher absorption rate (as demonstrated by a higher concentration of CBD in their systems) than their fasting counterparts.

So will Carl’s Jr. and Illegal Burgers along with the absorption rate study lead more fast food restaurant chains to jump on the CBD bandwagon in the months and years to come? To a large extent, this depends on how far the FDA goes in doubling down on restrictions prohibiting the addition of CBD to foods and dietary supplements in interstate commerce. Food safety officials in Maine, New York City, Ohio, North Carolina, South Carolina, Florida, and Georgia have all banned the addition of CBD to food.

An April 2019, an  Inverse article on the Carl’s Jr. CBD burger reveals that the Federal Food, Drug, and Cosmetic Act prohibiting any active substance in a pharmaceutical (which, thanks to the advent of  FDA-approved anti-seizure medication Epidiolex, CBD is) from being added to food products further empowers regulators to crack down on the issue. Yet despite the fact that these laws are clearly worded with little room for interpretation, their enforcement still appears to be discretionary, as both the FDA and hemp companies scramble to definitively ensure that the CBD available to the public is pure, potent, and safe.

While private chefs and smaller-scale restaurants are still tempting fate (and upping their prices) to bring CBD and cannabis to the dining public, higher-profile establishments are taking the precautionary principle until federal regulations and law enforcement sort themselves out. Still, given that a National Restaurant Association survey identified CBD and cannabis-infused foods as the top restaurant trend in 2019, there’s still a chance that American consumers might be seeing some “special sauce” on offer at their local drive-thru. 


Tee CorleyTee CorleyFebruary 18, 2020
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6min00

With the legalization of hemp, new opportunities arise for sustainability-focused contractors. Hemp could be poised to disrupt the industry of conventional building materials.

In 2018, the Trump Administration passed the latest iteration of the Farm Bill, effectively removing hemp from the federal List of Controlled Substances. With the stipulation that it cannot contain more than 0.3% THC, hemp turned from a stigmatized shrub into a blossoming cash crop.

Two U.S. companies, one in Idaho and the other in Kentucky, have stepped up the challenge. Using American hemp farmers and factories based in the U.S., Hempitecture and HempWood are championing the future of sustainability in building materials. 

How Is Hemp Being Used in Construction?

While hemp has been used as a building material in Europe for more than 30 years, it’s only beginning to gain ground in the U.S.

American entrepreneurs are turning hemp fibers into wood, concrete, and insulation. There are no limits on the scope of this growing green industry. Manufacturers intend to deliver materials to residential, commercial, and industrial builders.

Greg Wilson, the founder of HempWood, has developed a wood-substitute that is 20% denser than oak and grown 100 times faster.

“[HempWood] utilizes bio-mimicry to transform hemp fibers and protein-based bonding agents into a viable substitute for anything solid oak can be used for,” Wilson states on his website.

Wilson, who opened the first HempWood factory in Murray, Kentucky in the fall of last year, claims HempWood can replace any timber function. HempWood can even be cut, sanded, and stained. With a special focus on replacing hardwoods for flooring, cabinets, and furniture, Wilson plans to oust deforestation using the versatility of hemp.

Hempcrete, on the other hand, has its limitations when compared to its conventional predecessor. Best used for insulation, hempcrete blocks need to be used with a load-bearing timber frame. 

However, hemp insulation is still a viable alternative to concrete and fiberglass. Made by mixing hemp shivs with lime and water, hempcrete is breathable, non-toxic, and eco-friendly. In fact, hemp insulation has the same R-value as fiberglass at around 3.7 per inch. Naturally, insect-repellant hemp fiber absorbs moisture, reducing mold and deterring termites.

Hempitecture, an Idaho-based construction firm, has already helped construct three buildings using hempcrete, with impressive results.

Hemp, Health & Safety

Hemp homes could mean better, safer air for the occupants. By eliminating the number of toxins in the air due to concrete dust and harmful binding agents, hemp enthusiasts hope to have residents breathing easier.

Hemp takes no pesticides to grow and uses minimal fertilizer. In manufacturing, HempWood uses a soy-based binding agent instead of synthetic chemical binders.

Hempitecture’s HempWool insulation is made of 100% natural raw materials. That’s 92% hemp fiber and 8% polyester.

As for the environment? Hemp actually absorbs carbon dioxide. From growing to manufacturing, Hempitecture and HempWood make a point to be zero waste and carbon negative.

Could Hemp Building Materials Disrupt the Industry?

As Wilson puts it, “…A more sustainable way of living is no longer a luxury, but a requirement.”

With a close eye on the climate, both political and environmental, Wilson believes disruption is imminent.

However, more research needs to be done. For example, there is no standard for hemp building materials, making it difficult to regulate and certify.

And in its current state, hemp building materials may be prohibitively expensive for the average American.

Russ Martin, former mayor of Asheville, North Carolina, built his 3,400 square foot home partly using imported hemp-based materials in 2009. The cost? $133 per square foot, compared to the average $84 per square foot in the same year.

Wilson is currently striving to keep HempWood competitively priced with hardwoods like oak, stating that softwoods like pine and poplar are out of reach.



About Us

The Hemp Market Report will target news from the fast growing worlds of cannabidiol (CBD) and hemp. As a sister site to the Green Market Report, HMR will cover financial stories, but also take a look at lifestyle news as well. The Hemp Market Report will also publish sponsored content as we seek to expand our content offerings.


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