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BERKSHIRE-HATHAWAY ANALYSIS

"The textiles industry is the largest end-user of industrial hemp. It accounted for 46.65% of the share in the global industrial hemp market in 2018. Hemp fibers are increasingly used as a raw material for textile yarn production. They are also considered as a substitute for cotton and synthetic fibers. Moreover, the technological, ecological, and economical superiority of hemp have been driving its demand in the textiles industry for the manufacture of a variety of products. Furthermore, as hemp fibers contain numerous cracks and small holes, they have an excellent capillary effect, good moisture absorbing ability, and excellent breathing performance. Hence, hemp fibers are used to manufacture waterproof, windproof, wear resistance, and anti-bacterial clothing for the military. This high demand from the textile industry is expected to drive the global industrial hemp market.

As per Technavio, the rise in the legalization of hemp cultivation will have a positive impact on the market and contribute to its growth significantly over the forecast period. This global industrial hemp market research report also analyzes other important trends and market drivers that will affect market growth over 2019-2023."

"The global industrial hemp market is expected to post a CAGR of close to 16% during the period 2019-2023, according to the latest market research report by Technavio."