Industrial Hemp is the Future
Vita Structura is in the research and development phase of producing industrial hemp-based products for the Canadian and American markets.
Look at our infographics to see why we are working hard to innovate in the new decade.
Why is Industrial Hemp Important?
Industrial hemp, a separate yet similar plant to cannabis without the hallucinogenic properties, is a multi-product short-growing season rotation crop which can be added to Canada’s established 78.5 million acres of agricultural lands with an additional 1 million acres of potential growth land for northern Canada. In ninety days, one acre of hemp can potentially remove two tonnes of carbon dioxide (CO2) pollution from the air, releasing oxygen into the atmosphere and absorbing the carbon into raw materials similar to trees, crops, oils, food, and energy sources. One square meter of hempcrete alone can capture 165 kg of carbon from the atmosphere.
As regulations are removed and exports expanded, by 2022 the North American hemp industry is expected to reach US$5.7 billion and global markets are expected to reach US$10.6 billion by 2025, with a three-year compound annual growth (CAGR) of 17.5%. Canada is expected to continue to be a largest exporter of hemp materials to the US market. The separate Canadian market for all cannabis non-hemp-related products for Q1 2019 was CAN$1.51 billion with a current annual growth trend of 9.26%. As hemp products gains acceptance by a younger generation and overall North American society, we expect growth numbers to positively trend upwards substantially.