Report: America churned out $824 million worth of hemp last year

Fresh analysis published in the USDA’s National Agricultural Statistics Service demonstrates the outcome of the 2021 Hemp Acreage and Production Survey. 

Featured in the agency’s National Hemp Report, the up-to-date insights suggest that the outdoor land on which industrial hemp is cultivated in the U.S. covered a total of 54,150 acres. 

The total area on which hemp was yielded for all purposes amounted to 33,480 acres, whereas the value of U.S. hemp cultivated in the open rested at an impressive $712 million. 

Moreover, protected hemp cultivation fetched a  valuation of $112 million, with the total space on which plants were grown adding up to 15.6 million square feet. 

“The data will help guide USDA in supporting domestic hemp production and will help producers make decisions on their operations,” said the Administrator of NASS, Hubert Hamer. “The survey results may also impact policy decisions about the hemp industry.” 

Analysis was also divided by the purpose of hemp production. For example, hemp grown specifically for grain was 4.37 million pounds; the average harvest was 530 pounds per acre. Conversely, floral hemp production came in at 19.7 million pounds; the average harvest was 1,235 pounds per acre. 

Hemp is reemerging as a highly sought-after crop

Growing demand for hemp-based textiles is spurring on market value, with a 2021 report showing that the industrial hemp market generated USD $5.95 billion growth. 

A separate report from Allied Market Research demonstrated that the worldwide industrial hemp market size was worth $4.9 billion in 2019, and is forecast to reach $18.6 billion by the year 2027. 

Between 2021 and 2027, analysts predict that the global industrial hemp market will register a compound annual growth rate (CAGR) of 22.4 percent.

The popularity of hemp fiber use in various industries, such as agriculture, furniture and automotives, serves as a significant growth driver for market expansion. However, hemp is also widely used in the cannabis market.

Hemp’s use in the cannabis industry

Hemp oil should not be confused with cannabidiol (CBD) oil. While CBD oil is produced using the hemp plant’s flowers, stalks and leaves components that are naturally enriched with a higher amount of CBD hemp seed oil is made by pressing the Cannabis sativa plant’s small seeds.

Incredibly nutritious, hemp seeds may aid digestion. This “superfood” is a fantastic source of plant-based protein and the smallest serving delivers a generous amount of fiber. 

Even Papa John’s Pizzas are adding hemp to their menu, with the global restaurant chain recently unveiling a new addition to its menus in the U.K. and Russia shelled hemp seed sticks.