This is more complex than it seems. There is no simple answer to this question as several factors are involved. Firstly, “best” is an ambiguous term until the standards to define “best” get clarified. Where buying in bulk is concerned, it is possible to define “best” in many ways.
Bulk means quantity. Suppose there is an order for 100 tons of hemp. The company able to cater to that order in the quickest possible time could be considered better than the others who take more time. However, that completely obliterates the quality aspect.
Company A can supply 100 tons of hemp in less time than company B. But company B’s hemp is of better quality. In such a scenario, not too many people would consider company A better than company B, even though the latter takes more time.
There is also a problem in defining hemp. The cultivation processes for hemp meant for seed use and hemp intended for fiber use are different. The same company may not supply both varieties of hemp.
One set of companies may be good at supplying hemp in bulk for seed use. A different set of companies may be good at supplying hemp for fiber use. If that is the case, there is no logical way to choose one set of companies as better than the other.
The status of hemp in different countries poses the final problem. China and France never discontinued their hemp production. Canada and some EU countries legalized hemp some years back. Countries like India and the U.S. have decriminalized hemp only recently.
This difference implies variations in production capacity and supply efficiency, with the more experienced countries having a competitive advantage. India, for instance, may be producing quality hemp for seed use, but in limited quantities because of internal regulations. That would throw Indian hemp exporting companies out of the list despite the quality of the plants.
These possibilities baffled us. We did what we do best: thorough research to find a solution. What we present here are our findings from that research. We have chosen the top three companies on the basis of available market research data.
To be transparent about our methodology, we first present how market analysts segment the hemp products market. Then we present how our listed companies are the dominant players in the hemp market. The common criteria include broad industry coverage along with financial and operational strength.
We also provide a summarized guideline on what to look for when deciding to order one or more hemp products in bulk.[/vc_column_text][/vc_column][/vc_row][vc_row][vc_column][vc_column_text]
Market Segmentation of Hemp Products[/vc_column_text][vc_column_text]With the USA legalizing hemp across the country through the Farm Bill 2018, the hemp market globally is experiencing phenomenal growth. From an estimated US$ 4.6 billion in 2019, the global value of the hemp market is projected to reach US$ 26.6 billion by 2025, growing at a compound annual growth rate (CAGR) of 34 percent.[/vc_column_text][vc_row_inner][vc_column_inner width=”1/6″][/vc_column_inner][vc_column_inner width=”2/3″][tm_image align=”center” image=”21809″][/vc_column_inner][vc_column_inner width=”1/6″][/vc_column_inner][/vc_row_inner][vc_column_text]As clear from the above chart, Europe will be leading the hemp market, with North America surpassing the Asia Pacific region from 2024 onwards. There will also be a change in the type of hemp products dominating the market.
In 2019, hemp seeds and hemp hearts as breakfast cereals will dominate the market along with hemp-based snacks. The rich protein content of hemp seeds with all the essential amino acids is one of the reasons behind this growing demand.
The presence of omega 3 and omega 6 fatty acids in just the proportions that is ideal for human health is the other factor behind this growing popularity. However, hemp protein powder-based snacks for athletes and as a post-workout food item top the popularity chart.
The projection is that the demand for hemp fibers will grow to emerge as the dominating segment during 2019-2025. This projection includes both types of hemp fiber. The longer outer fibers known as bast fibers will cater to the textile industry. Growing awareness about the environmental preferability of hemp fibers over cotton will drive this growth.
The shorter and woody inner core known as hemp hurds has a variety of applications. They are usable for producing hemp bioplastic, building materials known as hempcrete, and hemp biofuels in the form of hemp biodiesel and ethanol. Increasing awareness about the environmental advantages of using these products will drive their growth.
Next, we present our list of companies that will dominate the hemp market across segments. Most of them supply hemp and its derived products both wholesale and retail. One disclaimer, though, before we start: our numbers are serials, not ranks. We have simply listed the top companies alphabetically.[/vc_column_text][/vc_column][/vc_row][vc_row][vc_column][vc_column_text]
1. Aurora Cannabis
Based in Alberta, Canada, Aurora Cannabis is one of the largest companies in the hemp market across major segments. Operating both as wholesale and retail distributors, it has the funded capacity of producing more than 625,000 kilograms of hemp annually.
Aurora operates in 25 countries across five continents, Aurora is also recognized as a leader in breeding and genetic research related to hemp. The company recently acquired Health Canada licenses for two sites in Quebec and British Columbia for outdoor hemp cultivation.
Aurora has also been on an acquisition spree and now has 17 fully-owned subsidiaries.
Australia-based Ecofibre is one of the largest producers of hemp food and supplies nutraceuticals to nearly 3000 US-based pharmaceuticals. The company functions under four brands: Ananda Food, Ananda Hemp, Ananda Professional, and Black Hemp. Each brand caters to a specific hemp-based product category.
Ananda Food produces hemp seeds, hemp seed oil, and hemp protein powder from the company’s hemp farm in Tasmania. In 2018, the brand produced more than 360 tons of these items for the Australian market.
With partnerships in Kentucky to source locally grown hemp, Ananda Hemp processes neutraceuticals. It works with Ananda Professional to make an extensive range of high-quality CBD oil and other CBD-based wellness products across pharmacies in the US.
Hemp Black is the company’s brand to produce hemp textiles. Business Wire reported in July 2019 that the net profit of Ecofibre after-tax compliance increased by 170 percent during the 2019 fiscal year. You can rely on them to order any of their hemp products in bulk.
3. Hemp, Inc.
Operating in Nevada, US, since 2008, Hemp, Inc. proclaims that its three business pillars are community, education, and infrastructure. Functioning with ten divisions, this company produces patented Loss Circulating Materials and natural oil-spill absorbents for the oil drilling industry.
Hemp, Inc. has also started a unique hemp flower drying process to supply smokable hemp as a detox substitute for tobacco. In addition, the company is also a major supplier of CBD and hemp fibers. The operative also in North Carolina Oregon, the company’s infrastructure is something to envy.
A firm believer that business flourishes when it advances local communities with it, Hemp, Inc. runs a Hemp University to educate farmers on hemp growing. The company has received media awards as “The Best Hemp Company” for consecutive years.
So, you now know the top three companies on the planet to source your hemp from. However, you may need to look for other companies because of your location on the globe, or for some other reason. The following guideline will help you, we believe.
A General Guideline[/vc_column_text][vc_column_text]
- Check company websites for the product range, prices, supplying capacity, and shipping options.
- Carefully scan purchaser reviews.
- Check for legitimacy and quality certifications.
- Scan industrial magazines to know the company’s market rating.
With these taken care of, you’ll be reasonably safe in ordering your hemp in bulk.