The Various Valuable Uses of Hemp
The Various Valuable Uses of Hemp
As hemp has rapidly been re-introduced to consumer markets across a variety of industries throughout the world, humans have been reminded of the many benefits of this remarkable plant. Hemp serves as a more usable, sustainable alternative to common practices found in a variety of industries, yet a new use for the plant is proving incredibly valuable to consumers and entrepreneurs.
The Many Uses of Hemp
Hemp can be used to make paper, packaging products, resins that can be extruded to produce biodegradable plastic-like materials, textiles for apparel, and building materials that can be used instead of cinder block and concrete. Worn-out hemp products like sails, ropes, clothes, sheets, diapers, curtains, and rags can be recycled into hemp paper. Within the categories of foods and dietary supplements, hemp seeds can be eaten or used to create protein powder and hemp seed oil, or used as an ingredient to make plant-based products like burgers, pasta, and milk.
While these uses show the versatility, usability, and sustainability of hemp cultivation, the extraction of CBD oil from hemp plants is gaining more popularity amongst consumers, and driving demand and market price sky-high.
Demand for Hemp
Hemp biomass is generally comprised of non-flower parts like seeds, stalk, and leaves and has an average price of around $14 USD/lb. As seen in the chart below, there are many uses for unspent biomass based on the part of the plant used.
Hemp is being used as a more sustainable alternative to common practices in a variety of industries.
While this chart showcases the many remarkable uses for hemp, extracting CBD oil is, by far, the most profitable use for hemp biomass. Current market estimates place the value of CBD oil ranging from $700 to $2500 per kilogram, depending on purity and whether specific compounds have been removed or isolated.
The Benefits and Uses of CBD Oil
Oil extracted from hemp biomass contains a variety of compounds that can be used in medicinal, health and wellness, and recreational products. Cannabidiol (CBD) is one of the most popular cannabinoids currently being used by consumers, with products claiming anti-inflammatory, anti-anxiety, and seizure suppressant properties. While researchers and government organizations are still building empirical data to support the use of CBD for a host of human ailments, tons of anecdotal evidence exists to support the benefits of using CBD oil.
Demand for CBD Oil
As consumer testimonials promoting the benefits of CBD oil spread through the masses, commercial appeal for CBD products is skyrocketing. Many people have begun using nutraceuticals infused with CBD to replace pharmaceuticals, and recreational users are experimenting more and more with these new products. Both of these realities are leading to a continued rise in demand for high-quality CBD distillate.
Hemp vs Cannabis
While hemp and marijuana are the same species, the marijuana variant has been specifically bred to have a high tetrahydrocannabinol (THC) content. THC is the ingredient that gets you “high”.
Hemp contains very little THC, allowing us to capitalize on the many other benefits of the plant without the risk of causing inebriation. It has a wide array of useful applications, from building materials to paper to clothing. Perhaps the most interesting use for this plant, however, is the production and processing of hemp to extract cannabidiol (CBD).
“The global cannabidiol [CBD] market size is expected to reach USD $13.4 billion by 2028. The market is expected to expand at a CAGR [Compound Annual Growth Rate] of 21.2% from 2021 to 2028.”
The birth of this industry has created an exciting economic boom in a brand-new market, one that entrepreneurs and engineers alike are flooding to. While hemp has been proving its usefulness to humans for many centuries, advancements in the cultivating, extracting, and infused product industries have created an exciting opportunity for modern companies operating in these spaces.
Creating High-Quality CBD Distillate
If extracting CBD oil is the most profitable use for hemp biomass, there’s never been a bigger need for innovation in extraction processes and technologies. With a mobile extraction partner like extractX, cultivators and product formulators can position themselves with a strategic partner that will help them continue to grow in this rapidly expanding market.
extractX mobile extraction labs are fully certifiable to produce nutraceuticals, pharmaceuticals, and recreational products, and arrive at your facility ready to operate (after a quick installation) within 4 months. If you’re in the business of working with hemp or CBD consumer products, it’s never been a better time to explore a CBD distillate extraction partner.
Mobile extraction labs help hemp cultivators and CBD product formulators outsource the extraction process to a trusted partner, keeping them laser-focused on what they do best.
If you’re a hemp or cannabis cultivator, processor, or formulator creating CBD or THC products, and want to penetrate markets faster with no lab CapEx, then a mobile extraction lab may be right for you. If you are processing more than 75,000 lbs of biomass per year and are interested in a turnkey extraction lab for $0 lab CapEx and 4 months to installation, we want to talk to you today! Please contact us to learn about becoming an extractX partner.
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