AbstractA recent renaissance of industrial hemp has been driven by a plethora of ecologically amicable products and their profitability. To identify its environment and economic fate across the value chain (VC), this study conducts a systematic review of 98 studies published in ScienceDirect, Web of Science, and Scopus‐indexed journals. The thematic content of the articles is categorized using three deductively derived classification categories: lifecycle analysis (n = 40), VC analysis (n = 30), and feasibility analysis (n = 28). Bibliometric analysis indicates that the majority (>90%) of the studies were conducted in selected regions of Europe or North America, with further findings around regionally prioritized industrial hemp products, such as hempcrete in Southwest Europe, solid biofuel in North European states, and textile fiber and bio‐composites in East Europe and North America. Lifecycle analysis studies highlight nitrogenous fertilizer use during industrial hemp cultivation as a major ecological hotspot, which is taking a toll on the climate change index. However, hemp‐based products are generally climate‐friendly solutions when contrasted against their fossil fuel counterparts, with hempcrete in particular a highly touted carbon‐negative (−4.28 to −36.08 kg CO2 eq/m2) product. The review also identifies key issues within the hemp VC and presents innovative solutions alongside the recognition of value‐adding opportunities. Furthermore, feasibility analysis indicates unprofitability in using hemp for bioenergy production and there is a relative cost worthiness of hemp bio‐composites and hempcrete at the upstream level. Positive returns are observed under co‐production schemes. In contemplating the literature findings, we discussed and identified gap in existing literature for future exploration, including more studies to provide insights from the Global South, and the production of industrial hemp under a biophysically constrained landscape.

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