In March of 2021, the United States Department of Agriculture (USDA) granted Oregon State University ~$300,000 to fund studies focusing on hemp byproducts as a source of cattle feed.4 There are several driving forces behind this connection, including allowing hemp to be grown on cattle farms, maximizing the nutritional value of livestock feed, and providing a use for the extracted hemp biomass that is currently going to waste. At present, the cattle feed market is valued at $76.9 billion with a compound annual growth rate of 3.2%.
Cattle Feed Market Size
One percent of the total global cattle feed market equates to ~$769 million, and if hemp captured that market share, it would boost the CBD hemp industry’s annual revenue by more than a 29%. Approximately 130,000 acres were planted last year, and assuming that there are 165 pounds of hemp per acre, that represents ~21,450,000 lbs. or 10,725 tons of CBD hemp..6 The North American region alone consumed 27.7 million tons of beef cattle feed.7 Turn a waste product into an opportunity.
By adding revenue through a waste stream, you’re creating a sustainable, mutually beneficial relationship.