Economic sustainability

Key learning outcomes

• To understand the ronaeele of hemp industry in fostering economic sustainability

• To assess the role of innovation and regulation in hemp industry development.

Hemp's wide range of applications across various sectors combined with its status as a sustainable and renewable source of biomass is particularly valuable in the developing bio-based and circular bioeconomy sectors, in addition to being a valuable source of high-value bioproducts.

Hemp biomass could help mitigate some current critical issues, such as arable land scarcity, and foster the regeneration of the economy of the rural areas related to its production. Following harvesting, it could be feasible to valorise all hemp components through their cascading use, hence connecting to the value chain of the circular economy (Moscariello et al.,2021).

The economic aspects surrounding hemp and sustainability are multifaceted, encompassing various factors that influence its production, market dynamics, and overall economic impact.

• Growing Consumer Awareness and Market Dynamics

• Job Creation and Economic Development 

• Innovation and Investment 

• Export Opportunities 

• Regulatory Impact 

• Challenges and Considerations