CHINA IS ONE OF THE TOP 5 US INDUSTRIAL HEMP IMPORTERS
CHINA IS ONE OF THE TOP 5 US INDUSTRIAL HEMP IMPORTERS
Author: Lawrence Wong
According to the data review of the "2021 CBD & Hemp Factbook", the Overall volume of imported industrial hemp products into the US is roughly ￡87.8 million.??
In 2021, the total import value has drastically increased compared to 2020. Among the importers, China is one of the major countries of industrial hemp in the US, ranking in the top 5.
The US imported a large amount of cannabis in 2014 which was the first year after the passage of the US Farm Bill. US industrial hemp imports increased from 42.9 million US dollars to 78.1 million US dollars in 2015.?
Since the full phased legalization of industrial hemp in the United States in 2018, US industrial hemp imports have increased gradually.
The Dominican Republic, Poland, Romania, and China are the countries that exported the most hemp textiles, hemp seed products, and hemp fiber to the United States during the same period.?
The United States' industrial hemp still has a gap that ought to be filled. However, since the legalization of industrial hemp in the US, the rapid development of its industry has been particularly remarkable.?
Since 2019, several home textile suppliers in the US successively launched a series of hemp fabric products, which have become popular targets for consumers.
In the past five years, the US industrial hemp plantation area has gradually grown. The extraction of CBD products is the main driving force.?
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It is uncertain whether consumer demand can drive the large-scale production of industrial hemp fiber fabrics. However, the global cannabis market is expected to grow from US$4.6 billion in 2019 to US$32 billion in 2022, and it remains to be seen.
The Road to Sino-U.S. Industrial Hemp
As we all know, most manufacturing industries in the United States are inextricably linked to Chinese companies.?
The US hemp industry also imports plenty of raw materials for hemp products from China, such as glass, plastics, electronics, pipes, and paper used to make vape.?
In addition, with the increasing popularity of CBD in Europe and America, China has also opened the CBD vape market.?
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Business Development Manager
2 年Hi?
Técnico Mecanico de Manuten??o Industrial | Técnico Operador e Programador de Torno CNC | Técnico em Administra??o | Administra??o Estratégica | SupplyChain | Logística Internacional e Aduaneira | Estudante de Enfermagem
2 年In Brazil so far one of the first companies I saw in this segment was ZOMO with its cbd liquid for vape but not in the device segment