Long before the cultivation of hemp was criminalized in the United States, the versatile and sustainable crop played a major role in the building of a new nation. In fact, hemp is one of the oldest plants to be cultivated by human civilization, grown over millennia for food, oil, and fiber.
Throughout the 20th century, individual states and the U.S. federal government began to criminalize all cannabis. Because of hemp’s familial relationship to cannabis and a lack of understanding about the plants’ differences, laws were implemented restricting or prohibiting all cannabis growth.
Then, in December 2018, the 2018 Farm Bill was signed into law. It contained provisions that removed hemp from the Controlled Substances Act, radically overhauling America’s relation to hemp and hemp products. The law made it legal for U.S. farmers to grow, process, and sell hemp commercially. It also legalized hemp nationwide for any use, including the extraction of CBD oil.
Hemp food products are considered a top 10 food trend for 2019, and the hemp-derived CBD market is on track to reach $22 billion by 2022. To date, over 40 states have passed legislation related to hemp cultivation.
As the following chart illustrates, the market for hemp is expected to continue its strong growth.
NJ Cannabis Consulting offers Professional Services to help entrepreneurs succeed in the hemp/CBD business, including:
- State licensing applications
- Business Planning
- Site Selection
- Design and Construction