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The Hemp Industry Is Enjoying Its Best Period: It Grew by More than 20% in the United States Last Year

  • The hemp industry in the United States grew by more than 20% last year, although the figure could indeed be larger as some companies do not make their sales data public. 
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More than 576 million euros (620 million dollars) were taken in 2014 in the United States through the sale of products deriving from hemp, according to data from the Hemp Industries Association

185 million comes from the sale of food items and 390 million from the sale of hemp milk, seeds, soaps, lotions, clothing, car parts, building materials and many other products (around 25,000 different products). 

Additionally, according to the Hemp Industries Association, the market grew by 21.2% compared to the previous year. It is very possible that this is thanks to new legalization proposals. 

This growth may be even greater as the data provided does not include sales figures from many retailers who do not usually make their sales data available to the public (such as Whole Foods and Costco). Consequently, the figure is an enormous underestimation of the real hemp market. 

However, despite the figures, in the United States and on a federal level, it is still illegal to grow hemp for industrial purposes (although not for research use). Therefore, the industry still faces significant challenges in the U.S. and they go hand in hand with restrictive governmental policy.

02/04/2015

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