Growth Potential of Hemp
In a Successful Farming interview with Michael Bowman, founding chair of the National Hemp Association.
Successful Farming asked:
WHERE DO YOU SEE THIS INDUSTRY IN FIVE YEARS?
Michael Bowman Says: I hope we will see acreage reach that million acre range. If we are going to do textiles and bioplastics, we need that scale. I think hemp protein will become an aggressive competitor to soybean protein. It’s being used in animal agriculture around the world. Colorado State University is doing studies on beef and chickens.
Farmers are looking for ways to diversify and create new markets. Hemp produces high-quality oil and protein products, plus we get the bonus of textiles. We produce fiber, oil, and protein. There is a growing consumer market, even a preferential market, for hemp-derived products. If we make the necessary investments in infrastructure to grow these acres, I am convinced the market demand is there for a hemp-based suite of products.